EXHIBIT 10.6
SUBLEASE AGREEMENT
THIS AGREEMENT made this 18th day of April, 2001, by and between Global
Maintech Corporation, a corporation (hereinafter "Sublessee") and Minnesota News
Service, Inc., a corporation (hereinafter "Sublessor").
WITNESSETH:
WHEREAS, OMS Bloomington Partnership, L.L.P., (hereinafter "Landlord")
leases certain real property ("Building") to Sublessor pursuant to a Lease dated
July 25, 1997, (hereinafter "Lease"); a copy of said Lease being attached
hereto, marked Exhibit A, and incorporated by reference herein; and
WHEREAS, Sublessor desires to sublease a portion of the Building
consisting of approximately 3,073 square feet in the area marked with diagonal
lines on Exhibit B which is incorporated by reference herein (hereinafter
"Premises") to Sublessee, and Sublessee desires to sublet the Premises from
Sublessor.
NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants, conditions and agreements contained herein, the parties hereto do
hereby agree as follows:
1. Commencing on May 1, 2001, Sublessee shall sublease the Premises
from Sublessor for a term expiring April 30, 2004, unless sooner terminated as
provided herein. In the event Sublessor does not extend the current term of its
Lease, the term of this Sublease shall expire at midnight on July 31, 2002.
2. Sublessee agrees to pay rent to Sublessor at the address set forth
in paragraph 7 below on the first day of each calendar month during the term
hereof in the amount of $2,645.00 per calendar month which sum is inclusive of
real estate taxes and utilities, provided, however, that Sublessee shall pay
monthly with its rent payment 30.73% of any increases over 15% in real
estate taxes levied on and in the cost of all utilities supplied to the Building
over the amount of said real estate taxes and the cost of said utilities during
the period May 1, 2000 through April 30, 2001, the amounts of which increases,
if any, shall be communicated by Sublessor to Sublessee from time to time.
Utilities include gas, electricity, water and sewer.
3. Sublessee acknowledges that it is familiar with the Premises and
accepts said Premises in "as is" condition. No alterations, additions or
improvements shall be made to the Premises without the prior written consent of
Sublessor.
4. This Agreement is subject to all the provisions of the Lease, except
as otherwise provided herein.
5. Sublessor and Sublessee shall be entitled to exercise all the rights
and remedies of Landlord and Tenant, respectively, under the Lease.
It is understood and agreed that if under the Lease the Tenant has any
time period to cure a default, give a notice or for any other beneficial
purpose, for the purposes of this Agreement said time period shall be five days
less than the time period set forth in the Lease. It is further understood and
agreed that if the Landlord under the Lease has any time period within which to
cure a default, give a notice or for any other beneficial purpose, for the
purposes of this Agreement, said time period shall be five days greater than the
time period set forth in the Lease.
No termination of this Sublease and no repossession of the Premises
shall relieve Sublessee of its obligations under this Sublease.
It is understood and agreed that paragraphs 1-8 of this Agreement
control in the event of a conflict with the provisions of the Lease.
6. This Agreement is contingent upon and shall be of no force and
effect unless and until the consent of the Landlord is obtained to the terms and
provisions of this Agreement.
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7. For the purpose of notices pursuant to this Agreement, all notices
shall be in writing and served personally or by certified mail, prepaid, return
receipt requested, addressed to Sublessor at 0000 0xx Xxxxxx Xxxxx, Xxxxxxxxxxx,
XX 00000, Attn: Xxxxx Xxxxxxx, and to Sublessee at the Premises, or to such
other address provided by either party to the other in the manner stated herein.
8. Sublessee shall pay to Sublessor, prior to May 1, 2001, the first
and last months rent provided for hereunder. The amount of rent for the last
month of the Sublease term may be used by Sublessor to pay for any damage caused
to the Premises by Sublessee.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the
day and year first above written.
SUBLESSOR:
By: /s/ Xxxxx Xxxxxxx
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Its: Vice President - MN News
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Date: 4-18-01
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SUBLESSEE:
By: /s/ Xxxx Xxxxx
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Its: CEO
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Date: 4-18-01
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The undersigned, Landlord under the Lease, hereby consents to the terms and
provisions of this Agreement.
LANDLORD:
By: /s/ Xxxxxxx X. Xxxxxxx
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Its: Partner
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Date: 4-18-01
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By: /s/ J. Xxxxx Xxxxxx
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Its: Partner
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Date: 4-18-01
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