Document:

10M BBVA Letter Agree Aug 142011

14 de Agosto de 2011/August 14 2011

	
			
	Pall Mexico Manufacturing, S. de R.L. de C.V.
Calle Colinas 11730,
Fraccionamiento Parque Industrial El Florido,
Seccion Colinas, Delegacion La Presa,
Tijuana, Baja California, Mexico

	 
	 

	Atencion/Attention: Lic. Leobardo Tenorio Malof

	 
	 

	Estimado/Dear Lic. Tenorio:

	 
	 

	En nombre y representacion de PROCADEF 1 SAP.I. de C.V. ("PROCADEF") y de FC2010, S.A. de C.V. ("FC"), senalando ambas sociedades como domicilio para oir y recibir todo tipo de notificaciones el ubicado en Paseo de los Heroes 9188, Piso 5, Zona Urbana Rio Tijuana, en Tijuana, Baja California, Mexico, por medio de la presente hacemos constar lo siguiente:

	 
	On behaIf of PROCADEF 1 S.A.P.I. de C.V. ("PROCADEF") and FC2010, S,A. de C.V. ("FC"), stating as their domicile to hear and receive all types of notices the one located at Paseo de los Heroes 9188, Piso 5, Zona Urbana Rio Tijuana, in Tijuana, Baja California, Mexico, we hereby would like to confirm the following:

	En relation con la nave industrial y mejoras accesorias ubicadas en Calle Colinas 11730, del Fraccionamiento Parque Industrial El Florido, Seccion Colinas, Delegacion La Presa, en Tijuana, Baja California, Mexico (el "Inmueble"), la cual es objeto de cierto Contrato de Arrendamiento de fecha 21 de febrero del ano 2000, FC en su caracter de nudo propietario del Inmueble, y PROCADEF en su caracter de actual arrendador bajo el mismo, de conformidad con el articulo 2321 y demas disposiciones aplicables del Codigo Civil de Baja California, en este acto otorgamos a favor de Pall Mexico Manufacturing, S. de R,L. de C.V., sus filiales y subsidiarias (en conjunto "Pall"), el derecho del tanto para adquirir el Inmueble en caso de que se desee vender el Inmueble a cualquier tercero.

	 
	With regard to the industrial building and improvements located at Calle Colinas 11730, in Fraccionamiento Parque Industrial EI Florido, Seccion Colinas, Delegacion La Presa, in Tijuana, Baja California, Mexico (the "Real Property"), which is the subject matter of certain Lease Agreement dated February 21, 2000, FC, as the legitimate owner of the Real Property, and PROCADEF, as the current lessor thereunder, in accordance with articles 2321 and other applicable of the Civil Code for the State of Baja California, hereby grant to Pall Mexico Manufacturing, S. de R.L, de C.V., its affiliates and subsidiaries (jointly "Pall"), the preferential right to acquire the Real Property in the event that it is decided to sell it to any third party.

	Pall,   FC  y  PROCADEF acuerdan  que dicho derecho del tanto estara en vigor durante todo el tiempo en que:  (i) se encuentre en vigor el contrato  de  arrendamiento  del   Inmueble   (el

	 
	Pall, FC and PROCADEF agree that such preferential right will be in force during all of the time that: (i) the lease agreement for the Real Property (the "Agreement") entered currently with

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	"Contrato") celebrado actualmente con ENSATEC, S.A. de C.V., como arrendatario, y Pall Corporation como garante, y (ii) durante todo el tiempo en que Pall, Pall Corporation, o una empresa filial o subsidiaria de Pall Corporation sea parte en eI Contrato como arrendatario o garante.

	 
	ENSATEC, S.A. de C.V., as lessee, and Pall Corporation, as guarantor, is in force, and (ii) during all of the time that Pall, Pall Corporation and any affiliate or subsidiary of Pall Corporation is a party in the Agreement as lessee or guarantor.

	No obstante lo anterior, Pall y FC en este acto acuerdan que FC o podra libremente transmitir la propiedad del Inmueble a cualquiera de las personas que se enlistan a continuacion, sin necesidad de otorgar dicho derecho del tanto a favor de Pall siempre que eI nuevo propietario otorgue a favor de Pall el derecho del tanto para adquirir el Inmueble en los mismos terminos que los aqui establecidos simultaneamente al momento de adquisicion del Inmueble. Las personas a las que FC podra transmitir libremente la propiedad del Inmueble son: (i) PROCADEF; (ii) cualquier persona fisica o moral que sea accionista de la sociedad denominada EL FLORIDO CALIFORNIA, S.A, DE C.V.; (iii) cualquier persona fisica o moral que sea accionista de los accionistas de la sociedad denominada EL FLORIDO CALIFORNIA, S.A. DE C.V.; (iv) cualquier sociedad en la que EL FLORIDO CALIFORNIA, S.A. DE C.V. sea socio o accionista; (v) cualquier sociedad en la que cualquiera de los accionistas de la sociedad denominada EL FLORIDO CALIFORNIA, S.A, DE C.V. sean accionistas o socios; y (vi) cualquier sociedad en la que cualquiera de los accionistas de los accionistas de la sociedad denominada EL FLORIDO CALIFORNIA, S.A. DE C.V. sean socios o accionistas. Asimismo queda convenido y acordado por Pall, que cualesquiera de las personas anteriormente enlistadas y sus sucesores podran a su vez transmitir libremente la propiedad del Inmueble a cualesquiera de la personas anteriormente enlistadas, sin necesidad de otorgar dicho derecho del tanto a favor de Pall siempre que el nuevo propietario del Inmueble otorgue a favor de Pall el derecho del tanto para adquirir el Inmueble en los mismos terminos que

	 
	Notwithstanding the foregoing, Pall and FC hereby agree that FC may transfer the ownership of the Real Property to any of the persons listed below without the need of granting such preferential right in favor of Pall if the new owner grants in favor of Pall the preferential right to acquire the Real Property in the same terms that the ones provided herein simultaneously at the time of acquisition the Real Property. The persons to whom FC may freely transfer ownership to such Real Property are: (i) PROCADEF; (ii) any individual or entity that is shareholder of EL FLORIDO CALIFORNIA, S.A. DE C.V.; (iii) any individual or entity that is shareholder of any shareholder of EL FLORIDO CALIFORNIA, S.A, DE C.V.; (iv) any company on which EL FLORIDO CALIFORNIA, S.A. DE C.V. is a partner or shareholder; (v) any company on which any of the shareholders of EL FLORIDO CALIFORNIA, S.A. DE C.V. is a shareholder or partner; and (vi) any company on which any of the shareholders of the shareholders of EL FLORIDO CALIFORNIA, S.A, DE C.V. are partners or shareholders. Likewise, it is agreed by Pall that any of the above listed persons and entities and their successors may freely transfer ownership to the Real Property to any of the above listed persons and entities, without the need of granting such preferential right in favor of Pall if the new owner grants in favor of Pall the preferential right to acquire the Real Property in the same terms that the ones provided herein simultaneously at the time of acquisition the Real Property

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los    aqui    establecidos    simultaneamente    al momento de adquisicion del Inmueble.
	
			
	Atentamente/Truly yours,
	 
	 

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	Dr .Georgina Serrano Cuevas
Representante legal de
Legal Agent of 
PROCADEF 1, S.A.P.I de C.V.
	 
	Lic. Jose Luis Noriega Balcarcel
Representante legal de
Legal Agent of 
PROCADEF 1, S.A.P.I de. C.V.

FC2010, S.A. DE C.V., en su caracter de nudo propietario del Inmueble/ as legal owner of the Real Property,

	
			
	 
	 
	 

	(Graphics appears hear)

	 
	(Graphics appears hear)

	Dra .Georgina Serrano Cuevas
Representante legal de
Legal Agent of 
FC2010,S.A. DE C.V.
	 
	Lic. Jose Luis Noriega Balcarcel
Representante legal de
Legal Agent of 
FC2010,S.A. de C.V.

	
			
	Acepto de conformidad:
	 
	 

	(Graphics appears hear)

	 
	 

	Lic. Leobardo Tenorio Malof
Representante legal de
Legal Agent of 
Pall Mexico Manufacturing , S.de R.L. de C.V.

	 
	 

310N 11730 Tijuiana Letter Feb212000

FINAL VERSION
Tijuana, B.C., a 23 de febrero de 2012
PROCADEF 1, S.A.P.I. DE C.V
Paseos de los Heroes 9188
Piso 5
Zona Urbana Rio Tijuana
Tijuana, Baja California, Mexico.
Re:     Aviso de cesion.
En relacion con el Contrato de Arrendamiento celebrado con fecha 21 de febrero del año 2000, entre BBVA Bancomer Servicios, S. A., en su caracter de Fiduciario del Fideicomiso “Submetropoli de Tijuana” y Ensatec, S.A. de C.V., respecto a la nave industrial y mejoras accesorias ubicadas en la Calle Colinas11730 del Fraccionamiento Parque industrial EI Florido, Seccion Colinas, Delegacion La Presa, Tijuana, Baja California, Mexico, asi como con el Convenio que celebramos con ustedes con frecha efectiva del 14 de agosto de 2011 (el “Convenio”) venimos a avisarle y notificarle lo siguiente:

		
	I.
	Que de conformidad con la Clausula Quinta del Convenio Ensateç S.A. de C.V. con fecha efectiva del 23 de febrero de 2O12, cedio todos y cada uno de sus derechos a favor de Pall Mexico Manufacturing, S. de R.L. de C.V.

		
	II.
	Que en lo relacionado con la Clausula Octava del Convenio, Ensatec, S.A. de C.V. señala como su domicilio para oir y recibir toda clase de notiflcaciones y avisos el ubicado en; Blvd. Agua Caliente 10470, Desp #1, Centro Comercial Barranquitas, Col. Revolución, Tijuana, B.C. Mexico 22015.

Sin mas por el momentro, agradecemos sus atenciones al presente aviso y notificacion.
Atentamertte,
Pall Mexico Manufacturing, S. de R.L. de C.V.                        Ensatec, S.A. de C.V.

	
		
	[Graphic appears here]
Lic. Leobardo Tenorio Malof

	[Graphic appears here]
Ing. Hector machado Barraza10P Lease Nov 2 2002 HPI Ascoli

LEASE CONTRACT

The year two thousand two the 2nd day of the month of November in Ascoli Piceno
between
The Company TEMPERA INFISSI srl with registered office in Ascoli Piceno (AP), Zona Industriale Campolungo [Campolungo Industrial Zone], Tax ID and VAT no. 01241950441, registered in the Business Registry at the C.C.I.A.A. [Chamber of Commerce, Industry, Small Business and Agriculture] of Ascoli Piceno at no. 122340, represented by Ms. Anna Casciani, born in Ascoli Piceno (AP) on 11/29/1949, domiciled at Via del Commercio 14, Ascoli Piceno, referred to hereinafter as “LESSOR”
and
PALL ITALIA Srl with registered office in Milano - Via Bruzzesi 38/40 - Tax ID (VAT no.) 01679980159, represented by Chief Executive Officer Giuseppe Bolli, born in Milan on 04/29/1945 and residing in Rho, Via A. Moro n. 30 A, and by the Ascoli Piceno Plant Manager Patrizio Giorgi, born in Venarotta on 12/22/1960 and residing in Ascoli Piceno, Via dei Platani 31, referred to hereinafter as “LESSEE”

THE PARTIES STIPULATE AND AGREE AS FOLLOWS:
Art. 1 - Exhibits to the contract -
Exhibits A (cadastral floor plans) and B (certification of delivery and acceptance) constitute an integral and substantive part of this contract.

Art. 2 - Subject of the lease -
The Lessor hereby leases to the Lessee the premises for industrial use shown in the floor plans attached (Exh. A) located in Ascoli Piceno - Zona Industriale Campolungo registered at the land-registry office at NCEU [New Urban Building Land Register] sheet 85 lot no. 191.

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[16.4.1] [Contratto Tempera.pdf] [Page 1 of 9]

Art. 3 - Adapting the leased premises to the Lessee’s needs -
The Lessor agrees to contribute up to a total maximum amount of EUR 51,645 to the work adapting the premises to the level of standard fittings, including such additional fittings for the purpose of achieving the specific functionality necessary for the Lessee’s specific business, with the costs exceeding that amount to be borne by the Lessee. The Lessor also agrees to deliver the premises no later than the month of November 2002.
The delivery of the premises will be set forth in a Certification of Delivery and Acceptance (Exh. B), which will certify the functionality and conformity with current building and zoning laws.
All legal certifications (fitness for use; zoning use; title; building permit, retroactive building permit or building authorization and related graphic representations; real property registration; fire prevention; compliance of mechanicals with Law 46/90, existing ISPESL [Italian Prevention and Workplace Safety Institute] elevator testing, etc.), must be made available by the Lessor on the date the premises are delivered.

Art. 4 - Term of the lease and Lessor’s election to not renew the contract - 
The lease shall have a term of six (6) years from 11/02/2002 to 10/31/2008 and will renew automatically for subsequent six-year terms pursuant to Art. 28 of Law no. 392 of July 27, 1978.
The Lessor, in relation to notice of nonrenewal of the contract at its first expiration and of nonrenewal at expirations following the first term, states that the combined provisions of Arts. 28 (Renewal of the contract) and 29 (Notice of nonrenewal of the contract at its first expiration) of Law no. 392 of July 27, 1978,  are applicable. At the expiration of the first six years, therefore, that Landlord may exercise the right of

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[16.4.1] [Contratto Tempera.pdf] [Page 2 of 9]

nonrenewal only for one of the reasons stated in the cited Art. 29, in the manner and by the deadlines set forth therein, as well as in compliance with the manner and deadlines stated in Art. 28 for purposes of the notice of nonrenewal.

Art. 5 - Rent commencement and payment of the rent -
The Lessor expressly accepts that payment of rent by the Lessee shall take effect on the date of actual delivery of the premises under Art. 3 above. The aforesaid clause is an essential condition for the execution of this contract. The annual rental payment is agreed to be EUR 74,369.79 (seventy-four thousand three hundred sixty-nine and 79/100), plus VAT, to be paid in monthly installments in advance of EUR 6,197.48 (six thousand one hundred ninety-seven and 48/100) plus VAT, upon presentation of an invoice to be sent to PALL ITALIA srl, Via Bruzzesi 38/40 -Milano-. Payment of such installments shall be made within 15 days after the due date thereof to the bank account that will be communicated later by the Lessor.
If this lease contract is renewed for another 6 years (six years), after the first six-year term, the parties agree that the annual rental payment shall be EUR 61,974.83 (sixty-one thousand nine hundred seventy-four and 83/100) to be paid in the same manner described above in monthly installments of 5,164.57 (five thousand one hundred sixty-four and 57/100) net of ISTAT [Italian National Statistics Institute] adjustments made from the date of execution of this contract in accordance with the procedure under Art. 7 of this contract.

Art. 6 - Lessee’s withdrawal and indemnification of the Lessor -
The Lessee may withdraw from this contract at any time, by providing notice to the Landlord by registered mail with receipt of delivery to 

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be sent at least six months prior to the intended effective date of the withdrawal, in accordance with the provisions of Art. 27, para. 7, of Law no. 392 of July 27, 1978, subject to payment of rent for the entire six-months’ notice period, even if the withdrawal takes effect before the end of such six-month period.

Art. 7 - ISTAT adjustment to the rent - 
Pursuant to Art. 32 of Law no. 392 of July 27, 1978, as replaced by Art. 1, para. 9 sexies of Law no. 118 of April 5, 1985, the rent may be adjusted annually at the Lessor’s request starting at the beginning of the second year of the lease.
The Lessor’s request must be received by the Lessee no later than the last day of each year of the lease. Otherwise, the adjustment will be applied as of the first day of the month following the month when the request was received, and the Lessor shall not be entitled to the payment of amounts in arrears and/or the application, with a compounding effect, of ISTAT adjustments made but that were not requested. Increases in the rent may not exceed 75% of the increases, determined by ISTAT, in the consumer price index for families of workers and employees published monthly in the Official Gazette.

Art. 8 - Use of the premises, compensation for loss of goodwill and covenant of quiet enjoyment - 
The lease is for the sole use of Pall Italia srl. This declaration cites and references the contents and the consequences of Arts. 34 and 35 of Law no. 392 of July 27, 1978. The Lessor agrees to covenant, for the entire term of the contract, the quiet enjoyment of the premises subject to this contract.

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[16.4.1] [Contratto Tempera.pdf] [Page 4 of 9]

Art. 9 - Additional expenses -
The Lessee shall bear all of the expenses listed in Art. 9, paragraphs 1 and 2, of Law no. 392 of July 27, 1978. The payment shall be made by the Lessee by the deadlines stated in Art. 9, para. 3 of the cited Law. The Lessee may provide for the supplying of electricity, gas, water, etc., where it deems it appropriate, by directly subscribing for service and/or via its own systems.

Art. 10 - Transfer of the leased premises and right of first refusal -
Pursuant to Art. 38 of Law no. 392 of July 27, 1978 and in accordance with the procedures stated therein, the Lessor grants the Lessee a right of first refusal and agrees to grant preference to the Lessee over others in the transfer of ownership of the leased premises for valuable consideration.

Art. 11 - Sublease and assignment of the contract -
Without the Lessor’s written consent, the Lessee may not: 1) sublease the premises, in whole or in part, even for no consideration; 2) assign this contract to third parties; or 3) transfer the leased premises and/or lend them free of charge, either partially or entirely, to third parties. The provisions of Art. 36 of Law no. 392 of July 27, 1978 shall apply, thus permitting, in any event, the Lessee to freely assign the contract, with the release of the assignor, to affiliated, subsidiary or parent companies.

Art. 12 - Ordinary and extraordinary maintenance -
The Lessee, in regard to the certification of delivery and acceptance (Exh. B) under Art. 3 above, represents that it has visited the premises and deems them to be perfectly suitable for the use for which they are intended.

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[16.4.1] [Contratto Tempera.pdf] [Page 5 of 9]

Pursuant to Arts. 1576 and 1609 C.C. [Civil Code], the Lessee shall pay all costs of ordinary maintenance and all small maintenance repairs.
Mechanicals, fixtures, improvements and changes that are not removed by the Lessee upon redelivery of the premises shall be deemed owned by the Lessor, with the Lessor having no obligation to pay any compensation. In accordance with the provisions of Art. 1576 C.C., the Lessor shall pay costs of extraordinary maintenance and for remodeling, modifications and changes required by law. If the Lessee, in violation of the provisions of the cited law, does not perform necessary extraordinary maintenance, the Lessee, after a demand to perform made within 15 days, may take care of the same at its own expense and may deduct the cost from the rent payments until the total amount of the costs incurred has been covered, subject to the Lessee’s right to compensation for any additional damages.

Art. 13 - Modifications, changes and improvements to the leased premises -
During the lease, the Lessee may not make any modification, addition, improvement or change of a prejudicial nature to the leased premises and to its mechanicals without the Lessor’s prior written consent.

Art. 14 - Lessee’s obligations/liability and release of the Lessor -
The Lessee is made the custodian of the leased premises and is liable, under Art. 2051 C.C., for damages caused during this lease to the leased premises, the related mechanicals and to property owned by the Lessor, third parties and others. Pursuant to Art. 1587 C.C.,

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[16.4.1] [Contratto Tempera.pdf] [Page 6 of 9]

the premises shall be managed during the lease with care and diligence by the Lessee, who guarantees its functionality and appearance, and shall perform all work necessary for that purpose at its expense.
The Lessee shall be liable for injuries and damages that may occur to individuals, property and mechanicals due to inaction, negligence or failure to perform the work it is obligated to perform. It shall also give immediate notice to the Lessor if the need arises for repairs that the Lessee is not obligated to provide. In addition, the Lessor disclaims any liability:
		
	-
	regarding the Lessee’s possession of all legal requirements necessary to conduct its business, including in relation to health, workplace hygiene, tax and social security matters;

		
	-
	for injuries or damages that may occur to any person in accessing the leased premises/portion of the real property leased and/or remaining therein.

Art. 15 - Security deposit -
In accordance with Art. 11 of Law no. 392 of July 27, 1978, the Lessee, to guarantee all the obligations it assumes under this contract, shall pay to the Lessor 6,197.48 (six thousand one hundred ninety-seven and 48/100), corresponding to one month’s rent, as a security deposit bearing legal interest, which interest shall be paid to the Lessee at the end of each lease year. Such deposit will be returned to the Lessee following due redelivery of the premises and may not be used for rent. The security deposit must be replenished if it is used.

Art. 16 - Legal expenses and tax charges -
This contract is subject to Value Added Tax and therefore, pursuant to Art. 40 of Presidential Decree of 04/26/1986, no. 131, registration tax will

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[16.4.1] [Contratto Tempera.pdf] [Page 7 of 9]

be applied in a fixed amount. The tax for any registration of this contract shall be borne by the parties equally. The Lessee and Lessor shall bear the costs of drafting this document and stamp duty equally.

Art. 17 - Compliance with laws and regulations -
The Lessee agrees to comply with all laws and regulations governing the conducting of the business for which the premises were leased.

Art. 18 - Reference to legal provisions -
For all matters not addressed in this contract, the contracting Parties expressly reference the provisions of the Civil Code and current laws relating to the lease of real property for non-residential use.

Art. 19 - Court with jurisdiction -
The Parties agree that the Court of Milan shall have exclusive jurisdiction over any judicial disputes that in any way arise from this contract. This contract has been prepared in three original counterparts, each of which consists of nine pages.
Read, approved and signed
Dated 11/02/2002

	
		
	     THE LESSOR

Tempera Infissi Srl
[stamp:] 
TEMPERA INFISSI Srl
WOODEN DOORS AND WINDOWS FACTORY
     ZONA INDUSTRIALE CAMPOLUNGO
63100 ASCOLI PICENO
C.C.I.A.A. 122340 - Tax ID no. 01241950441
[signature]
	   THE LESSEE

       Pall Italia Srl

    [signature]         [signature]    

__________________________

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[16.4.1] [Contratto Tempera.pdf] [Page 8 of 9]

In accordance with Arts. 1341 and 1342 C.C., the Parties, by mutual agreement, having read the clauses contained in this contract, particularly with respect to the following articles, state that they approve them, and reject any challenge to them by either party:
Art. 1) Exhibits to the contract
Art. 2) Subject of the lease
Art. 3) Adapting the leased premises to the Lessee’s needs
Art. 4) Term of the lease and Lessor’s election to not renew the contract
Art. 5) Rent commencement and payment of the rent
Art. 6) Lessee’s withdrawal and indemnification of the Lessor
Art. 7) ISTAT adjustment to the rent
Art. 8) Use of the premises, compensation for loss of goodwill and covenant of quiet enjoyment
Art. 9) Additional expenses
Art. 10) Transfer of the leased premises and right of first refusal
Art. 11) Sublease and assignment of the contract
Art. 12) Ordinary and extraordinary maintenance
Art. 13) Modifications, changes and improvements to the leased premises
Art. 14) Lessee’s obligations/liability and release of the Lessor
Art. 15) Security deposit
Art. 16) Legal expenses and tax charges
Art. 17) Compliance with laws and regulations
Art. 18) Reference to legal provisions
Art. 19) Court with jurisdiction

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