8-9-98
Windmill Entertainment. Inc.
20 Hampton Rd.
Southampton, N. Y. 11968
Att.: Ron
Dear Ron:
As usual, it's always a pleasure speaking & discussing
with you how to improve our position in life. The talk we
had this past Friday was very rewarding to me, and
hopefully, to you.
I calculated the common charges from 1-3-97 through
5-15-98, a period of 17 months. The total was $877.29.
Averaging $51.60 per month. As of 7-10-98, I started to
include the space left by Fredda which added 10%
additional. In round numbers, it came up to pushing $60.00 per month.
For the first 2 years of your new lease, (1-1-99 to 12-31-2000), your rent will be at $3240.00 per month
including your common charges, however, excluding the Real Estate tax and my insurance premium increases. Starting
1-1-2001 you will incur a 3% increment rent increase per
year for the term of your lease. I believe this is fair
and equitable.
Kindly advise.
Very truly yours,
Irv
