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EXHIBIT 10(k)
REAL ESTATE LEASE WITH XXXX XXXXX ASSOCIATES
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XXXXX CENTER - ULMERTON
LEASE
This lease ("Lease") is made this 21st day of January, 1998, by and between
XXXX XXXXX ASSOCIATES, ("Landlord"), whose address is 00000 Xxxxxxxxx
Xxxxxxxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxxxx 00000, and INNOVA PURE WATER, INC., A
FLORIDA CORPORATION, ("Tenant"), whose address is 00000-00xx Xxxxx, XXXXX 000,
XXXXXXXXXX, XXXXXXX 00000.
1. TERM: Landlord hereby leases to Tenant and Tenant hereby leases from
Landlord the following property ("Premises"): APPROXIMATELY 20,789 SQUARE FEET
COMPRISED OF 5,214 SQUARE FEET OF AIR CONDITIONED OFFICE SPACE AND 15,575
SQUARE FEET OF NON-AIR CONDITIONED WAREHOUSE SPACE LOCATED AT 13130-56TH COURT,
SUITES 601, 602, 603, 604, 605, 607, 608, AND THE FRONT OFFICE PORTION ONLY OF
609 AND 610, XXXXXXXXXX, XXXXXXX 00000 for a term ("Term") of five (5) years,
commencing on the 1st day of April, 1998, ("Commencement Date") and ending on
the 31st of March, 2003 ("Expiration Date").
2. RENT: Tenant agrees to pay to Landlord without demand, deduction or offset,
together with all sales and use taxes levied upon the use and occupancy of the
Premises, at the address of Landlord hereinabove set forth or at such other
place as Landlord may in writing designate, an initial annual rent ("Rent") of
$SEE ADDENDUM TO LEASE #1, plus applicable sales tax, payable in equal monthly
installments of $SEE ADDENDUM TO LEASE #1, plus applicable sales tax. Tenant
shall pay the first monthly installment of Rent (and any pro-rated amounts) on
the 1st day of April 1998. All Rent is payable in advance, on the first day of
each month and without demand, deduction or offset. If any monthly payment of
Rent is not received by Landlord within seven (7) days from the ate it is due, a
"late charge" of six percent (6%) of each such payment shall be due Landlord as
"Additional Rent" and to compensate Landlord administratively for its having to
receive and handle monies untimely paid.
3. USE: Tenant shall use and occupy the Premises only for ADMINISTRATIVE,
MANUFACTURING, LABORATORY AND WAREHOUSE STORAGE incidental to the normal
customary conduct of its current business operation and for absolutely no other
purpose. No use considered hazardous by Landlord's insurer shall be permitted.
4. DELAY: If Landlord is unable to deliver possession of the Premises on the
anticipated date of the commencement of the term (see Paragraph 1), because the
occupant refuses to give up possession, or for any other reason whatsoever,
Landlord shall not be liable for failure to deliver possession on said date,
but the Rent payable shall be abated until Landlord tenders possession to
Tenant. The Expiration Date of the Lease shall not be extended as a result
thereof. Tenant may remain in existing premises until new premises are turned
over to them. Such delay not to exceed 45 days.
5. SECURITY DEPOSIT: Tenant has delivered to Landlord the sum of $SEE
ADDENDUM TO LEASE #1 as a security deposit for the full and faithful
performance by Tenant of the terms hereof, such security deposit to be returned,
less any sums required to enforce the terms of this Lease, to Tenant after the
Expiration Date and after Tenant has vacated the Premises and upon the full and
timely performance by Tenant of the provisions of the Lease on its part to be
performed. Tenant may not under any circumstances use the security deposit as
Rent. Landlord shall have the right to apply any part of the security deposit to
cure any non-performance by Tenant and if Landlord does so, Tenant shall upon
demand deposit with Landlord the amount so applied, in order to restore the
deposit to its original amount. The Real Estate Broker(s) involved in this
Lease transaction shall not be in receipt of the security deposit and shall not
be responsible for the care, deposit or return of same.
6. UTILITIES AND SERVICE AND TAXES: Landlord will only pay for normal water
consumption, and sewer charges for washroom facilities. Tenant shall pay for
all other utilities, including, but not limited to, all other water and sewer
charges (as Additional Rent) and electricity. Landlord shall not be liable for
damages to Tenant's business and/or inventory or for any other claim by or
through Tenant resulting from an interruption in utility services. Landlord
will pay all real property taxes and assessments.
7. ASSIGNMENT/SUBLEASE: Neither Tenant nor Tenant's legal representatives or
successors in interest, by operation of law or otherwise, may or shall assign
this Lease, or sublet or permit all or any part of the Premises to be used by
others, without the prior written consent of Landlord in each instance. Landlord
agrees that it will not unreasonably withhold or delay its consent to such a
subletting or such an assignment. Despite any such assignment or subletting,
Tenant shall continue to remain completely liable for the performance of all of
the obligations of Tenant under this Lease. Landlord, at its option, may
prescribe the substance and form of such assignment or sublease documents.
In the event of the transfer and assignment by Landlord of its interest in this
Lease and/or sale of the building containing the Premises, either of which it
may do at its sole option, Landlord shall thereby be released from any further
obligations hereunder, and Tenant agrees to look solely to Landlord's successor
in interest for performance of such obligations.
8. DEFAULT: Tenant will become in default of the Lease: (a) if Rent or
Additional Rent (which term as used heretofore and hereinafter shall mean all
monies not designated as "Rent" in the Lease but which are nevertheless payable
by Tenant to Landlord under the terms and provisions of the Lease) is not paid
within three (3) days after written notice from Landlord; or (b) if Tenant
shall have failed to cure a default in the performance of any obligation of
Tenant under the Lease (except the payment of Rent and Additional Rent) within
ten (10) days after written notice thereof from Landlord; or if a petition in
bankruptcy shall be filed by Tenant or if Tenant shall make a general
assignment for the benefit for creditors; or (d) if a petition in bankruptcy
shall be filed against Tenant and such proceeding is not vacated within thirty
(30) days; or (e) if the Premises are used for some purpose other than the
authorized use; or (f) if the Lease is in any way mortgaged or encumbered; or
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In the event of one or more of the foregoing happenings, Landlord may exercise
any one or more of the remedies or rights available to it under law or in
equity, to include the right to accelerate and declare the entire remaining
unpaid Rent and Additional Rent for the balance of the Lease term to be
immediately due and payable forthwith.
No re-entry or retaking possession of the Premises by Landlord shall be
construed as an election on its part to terminate the Lease, unless a written
notice of such election is given to Tenant, nor shall pursuit of any remedy
herein provided constitute a forfeiture or waiver or any Rent, Additional Rent
or other monies due to Landlord hereunder or any damages accruing to Landlord by
reason of the violations of any of the terms, provisions and covenants herein
contained. Forbearance by Landlord to enforce one or more of the remedies herein
provided upon an event of default shall not be deemed or construed to constitute
a waiver of that or any other violation or default. Legal actions to recover for
loss or damage that Landlord may suffer by reason of termination of this Lease
or the deficiency from any reletting as provided for above shall include the
expense of repossession or reletting and any repairs or remodeling undertaken by
Landlord following repossession.
THE PARTIES AGREE THAT ANY CONTROVERSY OR CLAIM RELATING TO THIS CONTRACT,
INCLUDING THE CONSTRUCTION OR APPLICATION OF THIS CONTRACT, WILL BE SETTLED BY
BINDING ARBITRATION UNDER THE RULES OF THE AMERICAN ARBITRATION ASSOCIATION,
AND ANY JUDGMENT GRANTED BY THE ARBITRATOR(S) MAY BE ENFORCED IN ANY COURT OF
PROPER JURISDICTION.
9. CURE BY LANDLORD: If Tenant shall default in performing any obligation or
condition of this Lease, Landlord may perform the same for the account of the
Tenant, and Tenant shall reimburse Landlord for any expense incurred therefor.
10. REPAIRS, ALTERATIONS AND ADDITIONS: Except as otherwise conditioned herein
and in ADDENDUM to Lease of even date herewith (if any), Tenant accepts the
Premises in "as is" condition and Tenant shall take good care of and maintain in
a good condition the Premises and the fixtures, equipment and furnishings
therein, and at Tenant's sole cost shall make all repairs necessary to keep them
in good working order and condition. It is Tenant's sole responsibility to
maintain, repair and replace, whether interior or exterior, all glass and doors
in or on the Premises. The heating and air conditioning system shall be under
the control of Tenant and Tenant agrees that all operation, upkeep, repairs will
be at Tenant's expense, except where the repairs or replacements are covered
under a warranty running in favor of Landlord, or are due to fire or other
casualty covered by Landlord's insurance in which latter event, said repairs or
replacements shall be done at its expense. ALL EQUIPMENT DEEMED BY A LICENSED
CONTRACTOR TO BE NON-REPAIRABLE DUE TO AGE OF THE EQUIPMENT SHALL BE REPLACED AT
THE LANDLORD'S EXPENSE. LANDLORD WARRANTIES THAT ALL EQUIPMENT, FIXTURES AND
FURNISHINGS ARE IN GOOD WORKING ORDER AT THE TIME OF THE COMMENCEMENT OF THIS
LEASE. During the term of this Lease and any extension thereof, Tenant shall
enter into and maintain a service agreement with a licensed air conditioning
contractor, providing routine maintenance to the air conditioning equipment. A
copy of this maintenance agreement shall be provided to Landlord within thirty
(30) days after the commencement of the term of this Lease. Landlord shall make,
but Tenant shall reimburse Landlord therefor, repairs necessitated by the fault
or negligence of Tenant, or that of Tenant's agents, employees, contractors,
consultants or invitees. Tenant shall not make any alterations, additions or
improvements to the Premises without the prior written consent of the Landlord.
LANDLORD SHALL WARRANT THAT ANY CHANGES WITHIN THE PREMISES THAT ARE CURRENTLY
NOT TO CODE SHALL BE THE RESPONSIBILITY OF THE LANDLORD.
11. MECHANIC LIENS: Tenant agrees that Tenant will pay or cause to be paid all
costs for work done by Tenant or caused to be done by Tenant on the Premises of
a character which could, but for the prohibitions hereinafter contained, result
in liens on Landlord's interest therein, and Tenant will keep the Premises free
and clear of all mechanic's liens and other liens and account of work done for
Tenant or persons claiming under Tenant. Tenant agrees to and shall indemnify
and save Landlord free and harmless against liability, loss, damage, costs or
expenses, including attorney's fees and costs of discovery and suit, on account
of claims of liens of laborers or materialmen or others for work performed for,
or materials or supplies furnished to, Tenant or persons claiming under Tenant.
THE INTEREST OF THE Landlord SHALL NOT, UNDER ANY CIRCUMSTANCES, BE SUBJECT TO
LIENS FOR IMPROVEMENTS MADE BY THE Tenant.
A notice concerning this provision of this Lease has been executed by Landlord
and has been recorded with the Clerk of the Court of Pinellas County. This
Notice reads as follows:
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NOTICE REGARDING MECHANIC LIENS
Notice is hereby given of certain Lease provisions contained in the Lease
between XXXX XXXXX ASSOCIATES, as Landlord, and the Tenant of the Premises on
property hereinafter described. This notice is given pursuant to 713.10,
Florida Statutes, (1989). XXXX XXXXX ASSOCIATES, as Landlord, hereby gives
notice as follows:
1. The name of the Landlord is XXXX XXXXX ASSOCIATES.
2. The legal description of the parcel of land to which this notice
applies is described in Exhibit "A" attached hereto and by this
reference made a part hereof.
3. MECHANIC'S LIEN. Tenant agrees that Tenant will pay or cause to be
paid all costs for work done by Tenant or caused to be done by Tenant
on the Premises of a character which could, but for the prohibitions
hereinafter contained, result in liens on Landlord's interest therein,
and Tenant will keep the Premises free and clear of all mechanic's
liens and other liens on account of work done for Tenant or persons
claiming under Tenant. Tenant agrees to and shall indemnify and save
Landlord free and harmless against liability, loss, damage, costs or
expenses, including attorney's fees and costs of discovery and suit,
on account of claims of liens of laborers or materialmen or others for
work performed for, or materials or supplies furnished to, Tenant or
persons claiming under Tenant.
THE INTEREST OF THE Landlord SHALL NOT, UNDER ANY CIRCUMSTANCES, BE
SUBJECT TO LIENS FOR IMPROVEMENTS MADE BY THE Tenant.
4. All leases entered into for space in the premises on the parcel of
land described in Exhibit "A" attached hereto contain the language
identified in Paragraph 3 above.
LANDLORD: XXXX XXXXX ASSOCIATES
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Xxxxxx X. Xxxxx, General Partner
STATE OF FLORIDA
COUNTY OF PINELLAS:
The foregoing instrument was acknowledged before me by
________________
this day of ,19
________ ________________ ____.
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Notary Public
My Commission Expires:
Tenant agrees that the Public Notice contained above which has been recorded in
the public records of the county where the leased Premises are located, may be
effectively discharged, released, and removed from said public records by
Landlord alone executing and recording in the public records a notice that the
leased Premises are discharged and released from the terms of this paragraph,
as well as all other provisions of this Lease.
12. SIGNS AND ADVERTISING AND PERMITS: Any signs will be at Tenant's sole
expense and will precisely conform to specifications and locations prescribed
and approved by Landlord according to the Sign Standard Agreement attached
hereto. No other signs or advertising shall be placed on the Premises or in
windows by Tenant. All required licenses and permits pertaining to Tenant's
use and occupancy of the Premises shall be obtained at Tenant's sole expense.
13. HAZARDOUS MATERIALS: Tenant shall not (either with or without
negligence) cause or permit the escape, disposal or release of any biologically
or chemically active or other hazardous substances, or materials. Tenant shall
not allow the storage, use or disposal of such substances or materials in any
manner not sanctioned by law or by the highest standards prevailing in the
industry for the storage, use or disposal of such substances or materials, nor
allow to be brought into the Premises or on to its grounds any such materials or
substances except to use in the ordinary course of Tenant's business, and then
only after both written notice is given to Landlord of the identity of such
substances or materials and such use is registered with, as may be required by,
the appropriate governmental agencies. Without limitation, hazardous substances
and materials shall include those described in the Comprehensive Environmental
Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C. Section
9601 et seq., the Resource Conservation and Recovery Act, as amended, 42 U.S.C.
Section 6901 et seq., any applicable state or local laws and regulations adopted
under these acts. If any lender or governmental agency shall ever require
testing to ascertain whether or not there has been any release of hazardous
materials, then the reasonable costs thereof shall be reimbursed by Tenant to
Landlord upon demand as additional charges if such requirement applies to the
Premises. In addition, Tenant shall execute affidavits, representations and the
like from time to time at Landlord's request concerning Tenant's best knowledge
and belief regarding the presence of hazardous substances or materials on the
Premises. Landlord shall have the right to periodically, or upon expiration or
earlier termination of this Lease, to undertake an environmental audit of the
Premises to determine Tenant's compliance with this paragraph. Tenant shall
promptly comply with all requirements of such audit and cure all matters raised
therein at Tenant's sole cost. In all events, Tenant shall indemnify Landlord
in the manner elsewhere provided in this Lease for all damages associated with
the existence, storage, use, release or disposal of hazardous materials in the
Premises occurring while Tenant is in possession, or elsewhere if caused by
Tenant
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or persons acting under Tenant. The covenants within shall survive the
expiration or earlier termination of the Lease Term.
14. NOTIFICATION: As required by F.S. 404.056(8), Landlord notified
Tenant as follows:
"RADON GAS - Radon is a naturally occurring radioactive gas that, when it has
accumulated in a building in sufficient quantities, may present health risks to
persons who are exposed to it over time. Levels of radon that exceed Federal
and State Guidelines have been found in buildings in Florida. Additional
information regarding radon and radon testing may be obtained from your county
health unit.
15. REQUIREMENTS OF LAW: Tenant at its expense shall observe and comply
with all present and future (a) laws, rules, codes, orders, regulations, etc.,
of any governmental authority having jurisdiction with respect to the Premises
or the use or occupancy thereof; (b) requirements of the Board of Fire
Underwriters, or any other similar body affecting the Premises; and Rules and
Regulations promulgated from time to time by Landlord. Tenant shall not use
the Premises in a manner which will increase the rate of fire insurance of
Landlord over that in effect prior to the Lease.
16. SUBORDINATION: This Lease is subject and subordinate in all respects
to all matters of record and all mortgages, any of which may now or hereafter
be placed on or affect such Leases and/or real property of which the Premises
are a part, or any part of such real property, and/or Landlord's interest or
estate therein, and to each advance made and/or hereafter to be made under
such mortgages, and to all renewals, modifications, consolidations,
replacements and extensions thereof and all substitutions therefore. This
paragraph shall be self-operative and no further instrument of subordination
shall be required. In confirmation of such subordination, Tenant shall execute
and deliver promptly any estoppel agreement or certificate that Landlord and/or
any mortgagee and/or their respective successors in interest may request.
17. DAMAGE AND DESTRUCTION: If the Premises are damaged or destroyed so
that the Premises are rendered wholly untenantable, the Rent shall be
proportionally paid up to the time of the casualty and thenceforth shall cease
until the date when the Premises have been repaired or restored by Landlord. If
the Premises shall be partially damaged or partially destroyed, the damages
shall be repaired by and at the expense of the Landlord and the Rent, until such
repairs are made, shall be apportioned according to the part of the Premises
which are usable by Tenant. Landlord shall not be liable for any inconvenience
or annoyance resulting from such destruction or damage or the repair thereof,
and shall not be liable for any delay in restoring the Premises. If, anything
to the contrary above in this paragraph notwithstanding, the Premises are
damaged or destroyed as a result of the wrongful or negligent act of Tenant or
any person on the Premises with Tenant's consent, there shall be no
apportionment or abatement of Rent. Tenant shall be released from this lease if
the repairs are not accomplished within 60 days.
18. CONDEMNATION: If the whole or any substantial (more than 25%) part
of the Premises shall be condemned by eminent domain for any public or
quasi-public purpose, this Lease shall terminate on the date of the vesting of
title, and Tenant shall have no claim against Landlord for the value of any
unexpired portion of the Term of the Lease, nor shall Tenant be entitled to any
part of the condemnation award. If less than a substantial part of the
Premises is condemned, this Lease shall not terminate, but Rent shall xxxxx in
proportion to the portion of the Premises condemned.
19. RIGHT OF ENTRY: Landlord or its agents or contractors may enter the
Premises at any reasonable time for the purposes of inspection or making such
repairs as Landlord deems necessary or desirable. Landlord may show the
Premises to prospective purchasers or mortgagees and, during the six (6) months
prior to expiration of the Lease, to prospective tenants.
20. INDEMNITY: Tenant shall indemnify, defend and save Landlord harmless
from and against any liability or expense arising from the use or occupation of
the Premises by Tenant, or anyone on or about the Premises with Tenant's
permission. Tenant shall provide on or before Commencement Date and keep in
force during the Term (and any extensions or renewals thereof) a comprehensive
liability policy of insurance insuring Tenant and Landlord against any liability
whatsoever occasioned by accident on or about the Premises. Such policy shall
be written by an insurance company authorized to do business in Florida and
having a Best's rating of "A" in the amount of One Million Dollars combined
single limit bodily injury and property damage. Evidence of such insurance
shall be delivered to Landlord by Tenant no later than thirty (30) days
following the Commencement Date of this Lease.
21. END OR TERM: At the end of the Term, Tenant shall vacate and
surrender the Premises to Landlord, broom clean, and in as good condition as
they were upon the Commencement Date, ordinary wear and tear excepted, and
Tenant shall remove all of the Tenant's moveable property therefrom. All
property, furniture, fixtures, equipment, installations and additions which
remain in or on the Premises after Tenant has vacated shall be considered
abandoned by Tenant and, at the option of Landlord, may either be retained as
Landlord's property or may be removed by Landlord at Tenant's expense. All
alterations, additions, improvements and fixtures, anything in this particular
paragraph to the contrary notwithstanding, which have been or will be installed
by either party in or upon the Premises during the Term of the Lease, and
which, in any manner are attached to the floors, walls or ceilings, shall be
and become the property of Landlord and upon the Expiration Date or any earlier
termination of this Lease shall be surrendered with the Premises as a part
thereof. Alternatively, Landlord may elect to have Tenant return the Premises
to their original condition prior to any buildout thereof by either party.
22. HOLDING OVER: Any holding over after the Expiration Date of the Term
or any extended term shall be construed to be a tenancy from month to month at a
monthly Rent equal to twice the amount of Rent applicable to the final month of
the Term of this Lease (or any previous renewal or extension of same) (pro rated
on a monthly basis) and shall otherwise be on the terms herein specified so far
as applicable.
23. NOTICES: Any notice by either party to the other shall be in writing
and mailed by registered or certified
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mail, return receipt requested, to the address set forth, or to such other
address as either party may hereafter designate in writing. Each notice shall
be deemed given on the next business day following the date of mailing. Any
notice by Landlord to Tenant shall be deemed given if personally delivered to
Tenant at the Premises.
24. RISK OF LOSS: All personal property placed or moved in the Premises
shall be at the sole risk of Tenant or the owner thereof.
25. FORCE MAJEURE: Whenever a period of time is herein prescribed for
action to be taken by Landlord, Landlord shall not be liable, or responsible
for, and there shall be excluded from the computation for any such period of
time, any delays due to acts of God or any other causes of any kind whatsoever
which are beyond the control of Landlord.
26. VENUE: The parties hereto agree that any and all suits for any and
every breach of this Lease shall be instituted and maintained only in those
courts of competent jurisdiction in the county or municipality in which the
Premises are located.
27. CORPORATE TENANCY: If Tenant is a corporation, the undersigned
officer of Tenant hereby warrants and certifies to Landlord that Tenant is a
corporation in good standing and is authorized to do business in the State of
Florida. The undersigned officer of Tenant hereby further warrants and
certifies to Landlord that he or she, as such officer, is authorized and
empowered to bind the corporation to the terms of this Lease by his or her
signature thereto. Landlord, before it accepts and delivers this Lease, may
require Tenant to supply a certified copy of the corporate resolution
authorizing the execution of this Lease by Tenant.
28. NO ORAL AGREEMENTS; SUCCESSOR INTERESTS: The agreements contained in
the Lease set forth the entire understanding and contract of the parties, shall
be binding upon and shall inure to the benefit of the respective heirs,
successors, assigns and legal representatives of the parties hereto and shall
and may not be changed or terminated orally.
IN WITNESS WHEREOF, the parties have executed the Lease as of the day and year
first above written.
WITNESSES FOR LANDLORD
/s/ Xxxxx Xxxxx
----------------------- LANDLORD: XXXX XXXXX ASSOCIATES,
A Florida Corporation
----------------------- By: /s/ Xxxxxx X. Xxxxx
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Xxxxxx X. Xxxxx, General Partner
WITNESS FOR TENANT:
/s/ Xxxx Xxxxx
------------------------ TENANT: INNOVA PURE WATER, INC.,
A Florida Corporation
------------------------ By: /s/ Xxxx X. Xxxxxx
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ITS: Chairman
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SIGN STANDARD AGREEMENT
XXXXX CENTER - ULMERTON
Lease signage shall be at the Lessee's sole expense with the prior approval of
the Lessor. It has been designed to provide a professional and coordinated
appearance throughout the Xxxxx Center - Ulmerton.
Lessee shall purchase a sign base from a plexiglass distributor. The base
shall be 3/8 inch bronze plexiglass (color #2412), 2' x 6' with routed edges.
Company logo and lettering may be either painted or vinyl.
Once the sign has been fabricated, it shall be installed by the Lessor.
A mail box label with the Lessee's suite number and company name will be
provided and installed by the Lessor, at the Lessee's expense.
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ADDENDUM TO LEASE
#1
Attached to and forming a part of the Lease Agreement between XXXX XXXXX
ASSOCIATES, Landlord, and INNOVA PURE WATER, INC., A FLORIDA CORPORATION,
Tenant, dated the 21st day of January, 1998, (the "Lease").
Landlord and Tenant hereby agree to the following:
1. The Lease relates to the following leasehold premises:
Approximately 20.789 square feet comprised of 5,214 square feet of air
conditioned office space and 15,575 square feet of non-air conditioned
warehouse space located at 00000-00xx Xxxxx, Xxxxx 000, 602, 603, 604,
605, 607, 608 and the front office portions only of 609 and 610,
Xxxxxxxxxx, Xxxxxxx 00000.
2. Landlord and Tenant hereby agree that the following amendment will be
made to said Lease, namely:
A. The monthly rent shall be payable in accordance with the
following schedule:
April 1, 1998 thru March 31, 1999 - $ 9,102.17 per month
April 1, 1999 thru March 31, 2000 - $ 9,466.26 per month
April 1, 2000 thru March 31, 2001 - $ 9,844.91 per month
April 1, 2001 thru March 31, 2002 - $10,238.70 per month
April 1, 2002 thru March 31, 2003 - $10,648.25 per month
All rental rates are subject to applicable sales and use
taxes.
B. On March 1, 1998, Landlord shall transfer and apply Tenant's
existing Security Deposit of three thousand four hundred and
no/100 ($3,400.00) to the required Security Deposit of the
Premises of this Lease.
On March 1, 1998, Tenant shall provide Landlord with an
additional Security Deposit in the amount of five thousand
five hundred and no/100 ($5,500.00) thereby increasing
Tenant's Security Deposit to a total amount of eight thousand
nine hundred and no/100 ($8,900.00).
Landlord and Tenant mutually agree that Landlord shall be
responsible for the following improvements:
1. Construct four (4) offices in Suite 605 as per Tenant
and Landlord approved drawings.
2. Provide a finished 3 degrees 6 inch opening between
Suites 604 and 605.
3. Provide and install two (2) 3 degrees 6 inch solid
core doors in Suite 604.
4. Construct a partition wall in the NE office of Suite
604.
5. Provide one (1) 6 degrees 6 inch double door opening
between Suites 601 and 602.
6. Provide and install vinyl tile and cove base
(approximately 685 square feet) in Suite 602.
7. Clean all existing vinyl tile flooring and carpet.
8. Paint all existing office walls in Suite 604, with
the exception of the 12 x 28 square foot office, and
paint the existing break room in Suite 602.
9. Landlord shall inspect and repair as necessary, all
HVAC equipment, all overhead doors, and all plumbing
and electrical equipment.
10. General cleaning of the premises.
D. Upon availability of the warehouse portion of Xxxxxx 000,
000, xxx 000, Xxxxxx shall have the first option to expand
into this warehouse space at the square footage rates
represented in the Rental Rate Schedule described in Item
2.A. above, should existing tenant not exercise it's right to
renew at the end of its lease term.
E. Upon availability of the office and warehouse space located at
00000-00xx Xxxxx, Xxxxx 000, Xxxxxx shall have the first
option to expand into this space at the square footage rates
represented in the Rental Rate Schedule described in Item
2.A. above, should existing tenant not exercise it's right to
renew at the end of its lease term.
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F. After the first eighteen (18) months of the initial lease
term, Tenant will have the option to relocate within a Xxxxx
Center should Tenant's needs require an increase of a minimum
of fifty percent (50%). Also, should Tenant so desire, again
after the first eighteen (18) months of the initial lease
term, Tenant shall have the option to work directly with
Landlord and its representatives in an effort to secure a
Build-to-Suit opportunity thru Xxxxx Management and its
affiliates. Should Tenant elect to relocate, then and in such
event, upon commencement of a term within another Xxxxx
Center, or a Build-to-Suit location developed by and thru
Xxxxx Management and its affiliates, the terms, conditions and
covenants of this Lease shall contemporaneously terminate, and
neither party hereunder shall have any further rights against
the other, and the Security Deposit referred to in Paragraph 5
of the Lease shall be transferred as per the terms of the new
lease for the new premises, or shall be refunded to the Tenant
upon termination.
3. The effective date of this Addendum is 21st day of January, 1998.
4. Landlord and Tenant ratify and affirm all other provisions of the Lease
dated the 21st day of January, 1998.
IN WITNESS WHEREOF, the Landlord and Tenant executed the foregoing Addendum to
Lease #1 on the 21st day of January, 1998.
In the presence of:
/s/ Xxxxx Xxxxx LANDLORD: XXXX XXXXX ASSOCIATES
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/s/ Xxxxxx Xxxxx BY: /s/ Xxxxxx X. Xxxxx
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As to Landlord Xxxxxx X. Xxxxx, General Partner
TENANT: INNOVA PURE WATER, INC.,
A Florida Corporation
/s/ Xxxx Xxxxx BY: /s/
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ITS: Chairman
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As to tenant
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EXHIBIT "A"
Xxxx Xxxxx Associates
Building 6
A portion of Lot 4 in the Northwest 1/4 of Section 0, Xxxxxxxx 00 Xxxxx, Xxxxx
16 East, PINELLAS XXXXXX, INC. as recorded in Plat Book 1, page 55, public
records of Pinellas County, Florida, and further being described as follows:
From the North 1/4 corner of Section 0, Xxxxxxxx 00 Xxxxx, Xxxxx 16 East,
Pinellas County, Florida, as a point of reference; thence N. 89 degrees 44
minutes 57 seconds W., and along the North line of said Section, 990.70 feet;
thence leaving said line S. 00 degree 00 minutes 49 seconds W., along the South
line of Lots 3 and 4, a distance of 360.00 feet to the Point of Beginning;
thence continue N. 89 degree 50 minutes 46 seconds along said line, 244.63 feet;
thence N. 00 degrees 17 minutes 44 seconds E., 400.00 feet to the aforementioned
Point of Beginning. Said parcel containing 2.2418 acres, more or less.
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ADDENDUM TO LEASE
#2
Attached to and forming a part of the Lease Agreement between XXXX XXXXX
ASSOCIATES, Landlord, and INNOVAPURE WATER, INC., A FLORIDA CORPORATION, Tenant,
dated the 21st day of January, 1998, and Addendum to Lease #1 of the same date,
hereafter collectively described as the "Lease."
Landlord and Tenant hereby agree to the following:
1. The Lease relates to the following leasehold premises:
Approximately 20,789 square feet comprised of 5,214 square feet of air
conditioned office space and 15,575 square feet of non-air conditioned
warehouse space located at 00000 00xx Xxxxx, Xxxxxx 000, 602, 603,
604, 605, 607, 608 and the front office portions only of 609 and 610,
Xxxxxxxxxx, Xxxxxxx 00000.
2. Landlord and Tenant hereby agree that the following amendment will be
made to said Lease, namely:
A. To accommodate additional revisions to Tenant's Construction
Scope of Work, the monthly rent shall be revised and payable
in accordance with the following schedule:
April 1, 1998 thru March 31, 1999 $ 9,269.84
April 1, 1999 thru March 31, 2000 $ 9,633.93
April 1, 2000 thru March 31, 2001 $10,012.58
April 1, 2001 thru March 31, 2002 $10,406.37
April 1, 2002 thru March 31, 2003 $10,815.92
All rental rates are subject to applicable sales and use
taxes.
3. The effective date of this Addendum is the 13th day of March, 1998.
4. Landlord and Tenant ratify and affirm all other provisions of the
Lease dated 21st day of January, 1998, and Addendum to Lease #1 of the
same date.
IN WITNESS WHEREOF, the Landlord and Tenant execute the foregoing Addendum to
Lease #2 on the 13th day of March, 1998.
In the presence of:
/s/ Xxxxx Xxxxx LANDLORD: XXXX XXXXX ASSOCIATES
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/s/ Xxxxxx Xxxxx BY: /s/ Xxxxxx X. Xxxxx
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As to Landlord Xxxxxx X. Xxxxx, General Parner
/s/ TENANT: INNOVA PURE WATER, INC.,
---------------------------------- A Florida Corporation
/s/ BY: /s/
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As to Tenant
ITS: Chairman
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