<SEC-DOCUMENT>0000889348-11-000018.txt : 20110701
<SEC-HEADER>0000889348-11-000018.hdr.sgml : 20110701
<ACCEPTANCE-DATETIME>20110701092629
ACCESSION NUMBER:		0000889348-11-000018
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20110629
ITEM INFORMATION:		Entry into a Material Definitive Agreement
FILED AS OF DATE:		20110701
DATE AS OF CHANGE:		20110701

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CPI AEROSTRUCTURES INC
		CENTRAL INDEX KEY:			0000889348
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT PART & AUXILIARY EQUIPMENT, NEC [3728]
		IRS NUMBER:				112520310
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11398
		FILM NUMBER:		11944414

	BUSINESS ADDRESS:	
		STREET 1:		200A EXECUTIVE DR
		CITY:			EDGEWOOD
		STATE:			NY
		ZIP:			11717
		BUSINESS PHONE:		5165865200
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k_lease.htm
<DESCRIPTION>LEASE
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date of Report (Date of earliest event reported):&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">June 30, 2011</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On June 30, 2011, CPI Aerostructures, Inc. (the "Company") entered into a lease agreement (the "New Lease"), with Heartland Boys II L.P. (the "Lessor"), for the premises located at 91 Heartland Boulevard, Edgewood, New York (the "Leased Premises").&#160;&#160;The approximate 171,000 square foot building on the Leased Premises will be used as the Company&#8217;s assembly facility and principal offices.&#160;&#160;The Company intends to move all of its operations presently conducted at 60 Heartland Boulevard, Edgewood, New York (the "Existing Facility") to the Leased Premises by December 31, 2011.&#160;&#160;The term of the New Lease commences on July 1, 2011 and expires on April 30, 2022.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The monthly base rent payable by the Company during the following years is: 2011 (commencing in July), $90,100; 2012, $126,470.79; 2013, $129,506.71; 2104, $132,633.70; 2015, $130,223.72; 2016, $133,372.22; 2017, $136,615.18; 2018, $139,955.42; 2019, $143,395.87; 2020, $146,939.54; 2021, $150,589.52 and 2022 (ending in April), 150,589.52.&#160;&#160;Monthly base rent includes an amount equal to the prorated current real estate taxes on the Leased Premises.&#160; The Company is obligated to, among other things, (i) pay all taxes&#160;and assessments imposed on the Leased Premises (at the Lessor&#8217;s option, pro-rated increases in real estate and other taxes and assessments will be paid monthly to the Lessor as additional rent), (ii) pay all operating and other expenses and fees with respect to the Leased Premises, (iii) maintain insurance on the Leased Premises and (iv) make all repairs to the Leased Premises (other than certain structural and other repairs for which the Lessor is responsible).&#160;&#160;The Lessor has agreed to make certain upgrades to the Leased Premises to make the Leased Premises ready for the Company&#8217;s occupancy.&#160;&#160;The Company will provide the Lessor with a security deposit in the amount of $100,000.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company leases its Existing Facility from the Lessor.&#160;&#160;The lease for the Existing Facility (the &#8220;Existing Lease&#8221;) was amended concurrently with the Company entering into the New Lease to provide, among other things, for (i) the expiration of the Existing Lease on the earlier of the date the Company notifies the Lessor it has vacated the Existing Facility and December 31, 2011, (ii) no further base rent or additional rent payments by the Company prior to such expiration (provided the Company is paying the base rent, additional rent and other sums due under the New Lease) and (ii) the $25,313 security deposit with respect to the Existing Lease being applied to the security deposit required under the New Lease.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Dated: July 1, 2011&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;CPI AEROSTRUCTURES, INC.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline">/<font style="TEXT-DECORATION: underline">s/ </font></font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Vincent Palazzolo</font></font></div>
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