FIFTH LEASE EXTENSION AGREEMENT
THIS AGREEMENT dated this 31st day of May, 1996, by and
between ICE ASSOCIATES, having an address of 00 Xxxxx Xxxxxx, Xxxxxxxxxx, Xxx
Xxxxxx (hereinafter called "Landlord"), DALTEX MEDICAL SCIENCES, INC. having
an address of 00-00 Xxxxxx Xxxx, Xxxxxxxxx, Xxx Xxxxxx 00000 (hereinafter
called "Tenant").
W I T N E S S E T H T H A T:
WHEREAS, Landlord and Tenant entered into a Lease Agreement
("Lease") dated May 24, 1989 by which Landlord leased to Tenant 1,800 square
feet located at 00-00 Xxxxxx Xxxx, Xxxxxxxxx, Xxx Xxxxxx 00000 (hereinafter
"Initial Lease Agreement"); and
WHEREAS, the Initial Lease Agreement was extended by a Lease
Extension Agreement dated May 27, 1992 (hereinafter "Lease Extension
Agreement"); and
WHEREAS, the Lease Extension Agreement was extended by
Second Lease Extension Agreement dated August 30, 1993
(hereinafter "Second Lease Extension Agreement"); and
WHEREAS, the Second Lease Extension Agreement was
extended by Third Lease Extension Agreement dated April 7, 1994
(hereinafter "Third Lease Extension Agreement"); and
WHEREAS, the Third Lease Extension Agreement was
extended by Fourth Lease Extension Agreement dated May 15, 1995
(hereinafter "Fourth Lease Extension Agreement"); and
WHEREAS, said Initial Lease Agreement as extended by Lease
Extension Agreement, Second Lease Extension Agreement, Third Lease Extension
Agreement and Fourth Lease Extension Agreement shall terminate on June 14,
1996; and
WHEREAS, the parties hereto wish to extend the term of the
Initial Lease Agreement/Lease Extension Agreement/Second Lease Extension
Agreement/Third Lease Extension Agreement/Fourth Lease Extension Agreement
under the same terms and conditions contained therein, with the exception of
those items enumerated
below.
NOW, THEREFORE, in consideration of the mutual promises
contained herein, the parties hereto agree as follows:
1. The Fourth Lease Extension Agreement is hereby extended
for one year term commencing June 15, 1996 and terminating June 14, 1997
(hereinafter "Fifth Lease Extension Agreement").
2. Tenant has the right to cancel this Agreement any time
after September 14, 1996 by giving the Landlord ninety (90) days written
notice.
3. The Tenant acknowledges that is presently in possession
of the leased premises and agrees except as provided in the Lease as amended
and subject to provision of the Lease to retain possession of the same without
any representations, warranties, or covenants on the part of the Landlord and
in the condition commonly referred to as "As Is".
4. Except as particularly modified by the terms hereof, the
Initial Lease Agreement/Lease Extension Agreement/Second Lease Extension
Agreement/Third Lease Extension Agreement/Fourth Lease Extension Agreement
shall remain in full force and effect during the term of the Lease as
contained herein, which terms and conditions are hereby reaffirmed by the
parties hereto.
5. By execution of these present, each party acknowledges
the full and faithful performance by the other party of the obligations to be
performed by the other party under the Lease to the date hereof.
6. This Fifth Lease Extension Agreement shall bind and
benefit the parties hereto, their legal representatives, executors,
administrators, successors and assigns.
IN WITNESS WHEREOF, the parties have hereto executed this
Agreement the date and year first above written.
WITNESS: ICE ASSOCIATES,
as Landlord
/s/ Xxxx X. Xxxxxx By:/s/ Xxxxxxxxx X. Xxxxxxxxx
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Xxxxxxxxx X. Xxxxxxxxx,
Partner
WITNESS: DALTEX MEDICAL SCIENCES, INC.
as Tenant
/s/ Xxxxx X. Xxxxx By:/s/ Xxxxxxx X. Xxxxxxxx
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