SOUTH CAROLINA XXXXXXXX XXX XXXXX 000 XX
XXXXXXXXXX XXXXXX 4055 FABER PLACE DRIVE
THE EXECUTIVE PARK
FABER PLACE
This Sublease is made this day of March, 1997, by and between
ENVIROMETRICS, INC., successor by merger to Trico Envirometrics, Inc.
(Sublessor); CHASE MORTGAGE BROKERS, INC. ("Sublessee"); and LPC of S.C., INC.
(a subsidiary of The Liberty Corporation) ("Landlord').
WITNESSETH:
WHEREAS, Landlord leased approximately 9,094 square feet of office space to
Trico Envirometrics, Inc. described as Suite 102 (inclusive of Suite 210) of the
commercial office building located at 4055 Faber Place Drive in The Executive
Park at Faber Place in North Charleston, South Carolina (the "Demised
Premises"), pursuant to that certain office lease dated January 17, 1996 (the
"Lease"); and
WHEREAS, Envirometrics, Inc. is the successor by merger to Trico
Envirometrics, Inc., and therefore, is now the tenant under the Lease;
WHEREAS, Sublessee desires to sublease a portion of the Demised Premises
known as Suite 210 consisting of approximately 2,851 square feet rentable and
Sublessor desires to sublet Suite 210 to Sublessee;
WHEREAS, Landlord consents to this Sublease, and all of the requirements
set forth in Section 1 0 of the Lease have been completely satisfied.
NOW, THEREFORE, in consideration of the mutual promises and agreements
contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Sublessee hereby takes and
leases from Sublessor approximately 2,851 square feet rentable in the Demised
Premises known as Suite 210 (the 'Premises') in the commercial office building
located at 4055 Faber Place in The Executive Park at Faber Place in North
Charleston, South Carolina, according to the terms and conditions of the Lease
which is attached hereto as Exhibit A and incorporated by reference as fully as
if set forth herein. All defined terms contained in the Lease shall be used
herein with the same meaning unless otherwise expressly defined herein.
Sublessee acknowledges that it has received a copy of the lease and has reviewed
it to its satisfaction. The parties agree as follows:
1. Incorporation of Recitals. The above recitals are incorporated herein by
reference.
2. Incorporation of Lease Amendment. Except as provided herein, the terms
and conditions of the Lease are incorporated into this Sublease by reference.
All of the obligations contained in the Lease, except as modified and amended by
this Sublease, and all rights and privileges conferred upon Sublessor as tenant
therein, are hereby also conferred and imposed upon Sublessee. Sublessee
covenants and agrees to fully and faithfully perform the terms and conditions of
the Lease and this Sublease. Sublessee shall not do or cause to be done or
suffer or permit any act to be done which would or might cause the Lease, or the
rights of the Sublessor under the Lease to be endangered, canceled, terminated,
forfeited or surrendered, or which would or might cause Sublessor to be in
default thereunder or liable for any damages, claim or penalty.
3. Term; Payment of Rent. Sublessee shall lease the Premises from Sublessor
commencing as of March 31, 1997 and continuing until January 31, 1999, at the
rate of $13.85 per square foot per year. Thus, an amount equal to $39,486.35 is
due annually, and such amount shall be payable monthly in an amount equal to
$3,290.53 in advance on the first day of each month during the term of this
Sublease, and shall be due and owing without notice, demand, abatement,
deduction or set-off.
Rent and any other charges to be paid by Sublessee to Sublessor will be
paid when due at such times as are specified above at:
c/o Envirometrics, Inc.
0000 Xxxxxxxxxx Xxxxxxxxx
Xxxxxxxxxx, XX 00000
Attn: Xx. Xxxxxx X. Xxxxxxx, III
4. Security Deposit. A security deposit in the amount of one month's rent,
or $3,290.53 per month, shall be made by Sublessee to Sublessor at the time of
the execution of this Sublease. Said deposit shall be held by Sublessor, without
liability for interest, as security for the faithful performance by Sublessee of
all the terms, covenants and conditions of the Lease and this Sublease by said
Sublessee to be kept and performed during the term hereof. Should Sublessee fail
to keep and perform any of the terms, covenants and conditions of the Lease or
Sublease, Sublessor may appropriate and apply said entire deposit, or so much
thereof as may be necessary, to compensate Sublessor for loss or damage
sustained by Sublessor due to such breach, without prejudice to its further
rights and remedies. Should the entire security deposit or any portion thereof
be appropriated and applied by Sublessor for the payment of overdue rent or
other sums due from Sublessee hereunder, the Sublessee shall, upon the written
demand of Sublessor, forthwith remit to Sublessor a sufficient amount in cash to
restore said deposit to the original sum deposited. All amounts remaining of
said deposit shall be returned in full to Sublessee at the end of the term of
this Sublease or upon its earlier termination.
5. Taxes and Operating Expenses. All of the Taxes and Operating Expenses
which exceed Operating Expense Base and are borne pro rata by Sublessor under
the terms of Section 4B of the Lease shall continue to be the responsibility of
the Sublessor during the term of the Sublease; provided, however, that Sublessee
shall be responsible for Sublessor's pro rata share of any Operating Expenses
which arise from the acts or omissions of Sublessee and which are not normal and
customary Operating Expenses.
6. Indemnification. Sublessor hereby agrees to defend, indemnify, and save
Sublessor harmless from any liability resulting from any claim, action or suit
made against Sublessor by Landlord in connection with Sublessee's breach of the
Lease or this Sublease.
7. Notices. Any notice, demand or other instrument or written communication
required or permitted to be given, or served hereunder, shall be made or
delivered by hand delivery or by mailing the same certified mail, postage
pre-paid, and, if to Sublessor addressed as follows:
c/o Envirometrics, Inc.
0000 Xxxxxxxxxx Xxxxxxxxx
Xxxxxxxxxx, XX 00000
Attn: Xx. Xxxxxx X. Xxxxxxx, III
and to Sublessee addressed as follows:
Chase Mortgage
0000 Xxxxxxxx Xx.
Xxxxxxxxxx, XX 00000
8. Consent. Landlord hereby consents to the Sublease set forth herein. This
sublease may not be assigned, sublet or otherwise transferred without the prior
written consent of Landlord as set forth in Section 1 0 of the Lease.
9. Binding Agreement. This Sublease applies to and inures to the benefit
of, and binds all parties hereto and their respective heirs, legal
representatives, successors and assigns. This Sublease shall be construed in
accordance with the laws of the State of South Carolina.
IN WITNESS WHEREOF, the parties herein execute this Sublease for the
purpose herein expressed the day and year first written above. Signed, sealed
and delivered in the presence of
WITNESSETH: SUBLESSOR:
ENVIROMETRICS, INC., successor by merger to
Trico-Envirometrics,Inc. (SEAL)
By:
Name:
Title:
SUBLESSEE:
CHASE MORTGAGE BROKER, INC.
(SEAL)
By:
Name:
Title:
LPC OF S.C., Inc. joins in the execution of this Sublease solely for the
purpose of evidencing its consent hereto. Nothing contained herein shall modify
Sublessor's obligations under the Lease.
WITNESSETH: LANDLORD:
(SEAL) LPC OF S.C., INC.
By:
Name:
Title:
