As of January 1, 1997, the annual fixed rent of $1,019,450.00 specified in the Lease shall be payable in monthly installments, except that the previous prepayment of fixed rent by your Company shall be taken as a credit of $7,079.51 for each of the 12 months in the period January 1, 1997 through December 31, 1997 (12 x $7,079.51 = $84,954.11). Therefore, it is agreed that subject to the provisions of Paragraph 7 below, the fixed rent shall be $77,874.66 per month during 1997.

The 1996 annual fixed rent for the premises demised pursuant to the Lease shall be the sum of $533,345.21, which shall be paid in ten (10) equal monthly installments of $53,334.52 commencing March 1, 1996 and ending December 31, 1996. The annual fixed rent set forth in this Paragraph 4, is net of the debt of $61,334.33 refereed to in Paragraph 1 of the amendment to the Agreement of Lease dated December 22, 1995 (“First Amendment”). The undersigned hereby acknowledge and agree that payment of $266,672.30 representing full settlement of the fixed rent for the period January 1, 1996 through July 31, 1996 has been received prior to, or concurrent with the execution of this Agreement. The fixed rent obligation beginning August 1, 1996 remains $53,334.52 per month through December 31, 1996.