EXHIBIT 10.14
Assignment of Lease Agreement
ASSIGNMENT OF LEASE
Agreement made the 10th day of March, 1998, between EEMPACT
CORPORATION, a corporation of the State of New Jersey, located at 000
Xxxxxxx Xxxxxx, Xxxxx Xxxxx, Xxxxxxxxxx, Xxx Xxxxxx, hereinafter called
the assignor, and K-TRONIK INTERNATIONAL CORPORATION, a corporation of
the State of New Jersey, located at 000 Xxxxxxx Xxxxxx, Xxxxx Xxxxx,
Xxxxxxxxxx, Xxx Xxxxxx, hereinafter called the assignee.
WHEREAS, by Lease dated November 12, 1997, made between 98
INCORPORATED, a corporation of the State of New Jersey, and the
assignor, the premises described as the third floor of building located
at 000 Xxxxxxx Xxxxxx, Xxxxxxxxxx, Xxx Xxxxxx, were leased to the
assignor for the term of five (5) years from the first day of December ,
1997, and subject to the covenants, conditions, and stipulations therein
contained:
WITNESSETH, that in consideration of the sum of $1.00 paid by the
assignee to the assignor, the receipt whereof is hereby acknowledged,
the assignor assigns to the assignee the premises described in said
Lease, for the unexpired term of said Lease subject to the payment of
the rent and performance of the covenants, conditions, and stipulations
in said Lease.
The assignee covenants during the continuance of said term to pay
the rents reserved and to perform the covenants, conditions, and
stipulations in said Lease to be performed by the Lessee and to keep
indemnified the assignor against all actions, claims and demands
whatsoever in respect to the said rents, covenants, conditions and
stipulations, or anything relating thereto.
In the event of any default by the assignee, the assignor hereby
guarantees the payment of all rents reserved in said Lease and to
perform the covenants, conditions and stipulations in said Lease.
IN WITNESS WHEREOF, the parties hereto have set their hands and
seals, or caused these presents to be signed by their proper corporate
officers and their proper corporate seal to be hereto affixed, the day
and year first above written.
EEMPACT CORP. K-TRONIK INT'L CORPORATION
/s/ Xxxxxx Xxx /s/ Xxxxxx Xxx
Xxxxxx Xxx Xxxxxx Xxx
President/Secretary President/Secretary
98 INCORPORATED, hereby consents to the within Assignment of Lease.
/s/ Xxxxxxx X. Xxxxxxxx /s/ Xxxxx X. Xxxxxxxx
Xxxxxxx X. Xxxxxxxx, Secretary Xxxxx X. Xxxxxxxx, President
