EXHIBIT 10.15
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LEASE
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THIS INDENTURE of Lease ("Lease") made this 4th day of October, 1991, by
and between:
NEW ENGLAND RESOURCES LIMITED PARTNERSHIP, a Connecticut limited
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partnership having an address at 000 Xxxxx Xxxx, Xxxxx, Xxxxxxxxxxx
00000 (hereinafter called "Landlord") and
THE XXXXXXX, XXXXX COMPANY, a Connecticut corporation having an
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address at 00 Xxxxx Xxxxxx, Xxx Xxxxx, Xxxxxxxxxxx (hereinafter called
"Tenant").
WHEREAS, the Landlord is the owner of a certain tract of land with
improvements thereon located in the Town of New Haven, County of New Haven,
State of Connecticut, more particularly described on Schedule "A" annexed hereto
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(said land and the improvements thereon being hereinafter sometimes referred to
as the "premises").
WHEREAS, the Landlord wishes to lease to the Tenant approximately 87,000
square feet of space on the third, second and basement floors of the building
located on the premises (the "Building"), this space being the "Demised
Premises".
WHEREAS, the Tenant wishes to lease the Demised Premises from the Landlord
subject to the terms and conditions set forth herein:
W I T N E S S E T H:
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In consideration of the covenants and agreements contained in this lease,
the Landlord hereby leases to the Tenant and the Tenant hereby leases from the
Landlord the Demised Premises under the following terms and conditions:
1. LEASE TERM. The term of this Lease shall commence as of the 31st day of
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August 1993 and shall end on August 31, 1998 unless sooner terminated under the
provisions defined in section 21 of this lease.
2. NET RENT. The Tenant shall pay to Landlord the annual net rental (net rent)
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calculated as follows: The rent for year #1 (8/31/93 - 8/31/94) will be set at a
price per square foot which equals the price per square foot for the previous
year plus the lower of 5% or the increase in the CPI for the twelve previous
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months (September through August). The price per square foot for the 8/31/93 -
8/31/93 period is set at $4.00 as per the present lease between Landlord and
Tenant. The net rent will increase in each of years two through five by the
lower of 5% or the increase in the CPI as defined above.
3. NET LEASE. It is the purpose and intent of the Landlord and the Tenant that
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the Net Rent hereinbefore specified shall be net to the Landlord in each year
during the Lease Term, that all costs, expenses and obligations of every kind
relating to the Demised Premises and 56% of all costs, expenses and obligations
of every kind relating to the premises or which may arise or become due during
the Lease Term shall be paid by the Tenant, and that the Landlord shall be
indemnified by the Tenant against such costs, expenses and obligations. The Net
Rent shall be paid to the Landlord without notice or demand and without
abatement, deduction or set-off except as otherwise specifically provided for in
this Lease.
4. ADDITIONAL RENT. All taxes, charges, costs, expenses and other obligations
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which the Tenant is required to pay hereunder, together with any interest and/or
penalties that may accrue thereon in the event of the Tenant's failure to pay
such amounts, and any damage, costs or expenses (including reasonable attorney's
fees) which the Landlord may incur by reason of any default by the Tenant or
failure on the Tenant's part to comply with the provisions of this Lease shall
be deemed Additional Rent, and in the event of nonpayment by the Tenant, the
Landlord shall have all the rights and remedies with respect thereto as Landlord
has for the nonpayment of the Net Rent. The Landlord shall notify the Tenant in
writing of the amount of any Additional Rent due and payable by the Tenant
hereunder and the Tenant shall pay the full amount of such Additional Rent
within ten (10) days of receipt of such notice.
5. USE OF PREMISES. The Tenant shall use the Demised Premises for
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manufacturing, office and warehouse uses or other uses consistent with any
reasonable business purpose of the Tenant and such incidental activities as may
be related to the Tenant's business; provided the same does not violate any
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applicable zoning, environmental, recycling or other law or governmental
regulation. Tenant is responsible for recycling all paper, waste and trash as
required by state and local laws.
6. LANDLORD'S ENTRY. The Landlord, it agents or employees, may enter the
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Demised Premises at reasonable times during the Lease Term for the purpose of
inspection, carrying out any of the Landlord's covenants, and showing the same
to prospective purchasers or mortgagees, or to prospective tenants.
7. TAXES AND ASSESSMENTS. The Tenant, in addition to the Net Rent, shall pay
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as Additional Rent 56% of all taxes, assessments and other governmental charges
("Impositions") upon the premises, including any buildings and improvements
thereon as of the date hereof, which Impositions are assessed or become payable
during the Lease Term, together with any interest or penalties thereon assessed
because of action or inaction of Tenant. Tenant shall pay to Landlord each
month, together with the monthly installments of rent, one-twelfth (1/12) of
Tenant's pro-rata portion of the Impositions as estimated by Landlord to be
required to enable Landlord to pay the Impositions as they become due. Upon
demand of
Landlord, Tenant shall pay to Landlord such additional sums that may be
necessary to make up any deficiency in the amount needed to enable Landlord to
pay the Impositions.
All Impositions assessed prior to the commencement of the Lease Term, but which
become payable in whole or in part during the Lease Term, and all Impositions
assessed during the Lease Term, but which become payable in whole or in part
after the termination of the Lease Term, shall be adjusted and prorated so that
the Landlord shall pay its pro-rated share for the period prior to and
subsequent to the Lease Term, and the Tenant shall pay its pro-rated share for
the Lease Term.
The Tenant may, if it shall so desire, endeavor at any time to contest the
validity of any assessment, or to obtain a lowering of the assessed valuation
upon the Demised Premises for the purpose of reducing any assessment. In such
event, the Landlord shall offer no objection, and at the request of Tenant, but
without expense to the Landlord, the Landlord will cooperate with the Tenant. If
requested by the Tenant, and provided the Landlord will not, in its reasonable
judgment, incur any expense or liability thereby, the Landlord will execute any
document which may be necessary and proper for any such proceeding. Upon the
termination of any proceeding and after the Tenant has paid any such assessment
together with costs, any refund shall be the property of the Tenant to the
extent to which it may be based on a payment of an assessment made by the
Tenant.
The certificate, advice, xxxx or receipt made by any officer, person or
corporation legally authorized to give such certificate, advice, xxxx or
receipt, showing that any Imposition was due and payable or had been paid at the
date of such certificate, advice, xxxx or receipt, shall be prima facie evidence
that such Imposition is due and payable, or has been paid and discharged as the
case may be.
8. INSURANCE.
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(a) The Tenant shall pay as Additional Rent all cost and expenses to keep
the Demised Premises insured for the mutual benefit of the Landlord, the Tenant,
and any mortgagee of the Landlord during the Lease Term, against loss or damage
by fire and against loss or damage by other risks now or hereafter embraced by
"Extended Coverage" so called, and against such other risks as the Landlord from
time to time reasonably may designate, in amounts reasonably designated by the
Landlord, which insurance shall be sufficient to prevent the Landlord or the
Tenant from becoming a co-insurer under the terms of the applicable policies.
The Tenant shall also pay as additional rent all cost and expenses to maintain
for the mutual benefit of the Landlord and the Tenant and any mortgagee of the
fee title in the Demised Premises:
(1) Personal injury and property damage liability insurance against
claims for bodily injury, death or property
damage occurring on the Demised Premises, such insurance to afford minimum
protection, during the Lease Term, of not less than THREE MILLION DOLLARS
($3,000,000.00) in respect of bodily injury or death to any one person, and
THREE MILLION DOLLARS ($3,000,000.00) in respect of any one accident, and of not
less than ONE HUNDRED THOUSAND AND NO/100 ($100,000.00) DOLLARS for property
damage,
(2) Rent or rental value insurance against loss of rent or rental
value due to fire, including extended coverage endorsement, in an amount equal
to the annual rent for the Demised Premises, plus the estimated amount of real
estate taxes payable by the Tenant.
(3) Such other insurance, including but not limited to, demolition
insurance, and insurance against the presence of any hazardous waste or any lien
which may be imposed on the premises on account of Tenant's operations and use
of the Demised Premises and in such amounts as may from time to time be
reasonably required by the Landlord against other insurance hazards which at the
time are commonly insured against in the case of premises similarly situated.
(b) The loss, if any, under any policies provided for herein shall be
adjusted with the insurance companies by the Landlord and its mortgagee, if
applicable. The proceeds of any such insurance shall be payable to the Landlord
and to the mortgagee as their interest may appear. Tenant shall be entitled to
receive all insurance payments for loss of personal property which it has paid
for under its own insurance policy.
9. QUIET ENJOYMENT. The Tenant, upon the payment of the rent herein reserved,
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and upon the performance of all the terms of this Lease, shall at all times
during the Lease Term peaceably and quietly enjoy the Demised Premises and all
appurtenances without any disturbance from the Landlord or from any other person
claiming through the Landlord, subject to any existing or future mortgages.
10. REPAIRS AND MAINTENANCE. Throughout the Lease Term, except as otherwise
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provided in this Lease, the Tenant, at its sole cost and expense, will take good
care of the Demised Premises and keep the same in good order and condition. The
Tenant shall keep and maintain all portions of the Demised Premises in a clean
and orderly condition, free of dirt, rubbish and unlawful obstructions. Except
as provided below, the Tenant hereby assumes the full and sole responsibility
for the future condition, operation, repair, replacement, maintenance and
management of the Demised Premises, including the share of the parking lot which
Landlord allows Tenant to use.
The Tenant shall be responsible for all structural maintenance and repair, all
systems maintenance and shall provide exterior ground maintenance. All such
repairs and maintenance shall be made at the sole discretion of Landlord who
will have sole authority to approve or direct the amount and timing of the work
and the selection of
contractors who will perform the work. Tenant agrees to pay as Additional Rent
100% of the cost of all such maintenance and repair of or to the Demised
Premises and 56% of the cost of all such maintenance and repair of or to the
premises as a whole or for the benefit of the premises as whole. The Tenant
agrees to strictly follow all EPA and DEP guidelines regarding the storage
and/or disposal of hazardous waste or substances on the premises. Tenant shall
indemnify and hold Landlord harmless from and against any claims, damages,
expense or penalties incurred because of the Tenant's failure to fulfill its
obligations set forth in this paragraph.
11. FACILITIES AND SERVICES. The Tenant shall at its own expense provide all
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utilities and services for the Demised Premises and shall indemnify the Landlord
for any damage to the Landlord for the Tenant's failure to pay any such amount
of charge. Tenant shall pay 56% of the cost of utilities or services provided to
the premises or otherwise not separately metered to the Demised Premises, to
Landlord or Landlord's designee immediately upon receipt of a statement for
same.
12. ALTERATION AND CONSTRUCTION. The Tenant shall not make any material
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alterations, improvements, additions or changes to the Demised Premises without
the written consent of the Landlord.
13. DAMAGE OR DESTRUCTION. In the event of the destruction of the Demised
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Premises or the Building by fire, explosion, the elements or otherwise during
the term hereby created, or previous thereto, or such partial destruction
thereof as to render the Demised Premises wholly untenantable or unfit for
occupancy, or should the Demised Premises be so badly injured that the same
cannot be repaired within 120 days from the happening of such injury, then the
term hereby created, shall, at the option of the Landlord, or Tenant provided
Tenant notifies Landlord within ten (10) days of such damage or destruction,
cease and become null and void from the date of such damage or destruction, and
the Tenant shall immediately surrender said premises and all the Tenant's
interests therein to the Landlord, and shall pay rent only to the time of such
surrender, in which event the Landlord may reenter and repossess the Demised
Premises, thus discharged from this Lease.
Should the Demised Premises be rendered untenantable and unfit for occupancy,
but yet be repairable within 120 days from the happening of said injury, then
neither Landlord nor Tenant shall have the right to terminate the Lease and the
Landlord shall enter and repair the same with reasonable speed, and the rent
shall not accrue after said injury and while repairs are being made, but shall
recommence immediately after said repairs shall be completed. But if the
premises shall be so slightly injured as not to be rendered untenantable and
unfit for occupancy, then the Landlord agrees to repair the same with reasonable
promptness and in that case the rent accrued and accruing shall not cease or
determine. The Tenant shall immediately notify the Landlord in case of fire or
other damage to the premises.
14. SURRENDER UPON TERMINATION. The Tenant shall on the last day of the
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term of this Lease, or upon the sooner termination thereof, peaceably and
quietly surrender the Demised Premises to the Landlord, including all repairs,
improvements, alterations, replacements and additions constructed or erected,
but not including personal property or trade fixtures added or placed thereon by
the Tenant or otherwise, in as good condition and repair as at the commencement
of the Lease Term or as of the completion date thereof subsequent to the
commencement of the Lease Term, as the case may be, with the natural wear and
tear thereof excepted.
15. CONDEMNATION. If ten percent (10%) or more of the Demised Premises shall be
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taken for any public or any quasi-public use under any statute or by right of
eminent domain or if any part of the premises is so taken which renders the use
of the remainder thereof impractical for the purposes for which the Demised
Premises were being used at the time of such taking, then the Landlord and the
Tenant shall have the right to terminate this Lease on 30 days notice to the
other party given within 90 days after the date of such taking and each party
shall be free to make claim against the taking authority for the amount of the
actual provable damages done to each of them. If any part of the Demised
Premises shall be so taken and this Lease shall not terminate or be terminated
under the provisions of this Section, then that part of the annual Net Rent and
other payments herein reserved and required which is earned up to the date of
such taking shall be paid, and the annual Net Rent thereafter shall be
apportioned by the parties according to the proportionate fair rental value of
the Demised Premises remaining and shall constitute the reserve Net Rent for the
remaining portion of the term.
In the case of such partial taking, the Landlord shall, at its own expense, as
speedily as circumstances permit, restore the Demised Premises and the buildings
thereon to an architectural unit as nearly like that in existence prior to the
taking as possible. Landlord shall make such restoration in the same manner as
provided in paragraph 13 of this Lease for repairs and restoration to the
Demised Premises due to fire or other casualty.
If the temporary use of the whole or any part of the Demised Premises shall be
taken by any lawful power or authority, by the exercise of the right of
condemnation or eminent domain, the term of this Lease shall not be reduced or
affected in any way, the Tenant shall continue to pay in full the Net Rent,
Additional Rent and other charges herein reserved, without reduction or
abatement, and the Tenant shall be entitled to receive for itself any award of
payment for such use.
16. ASSIGNMENT AND SUB-LEASE. The Tenant shall not sublet, sell, assign,
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pledge, or otherwise dispose of this Lease or the Tenant's interest in this
Lease without Landlord's written consent; provided, however, that Tenant shall
have the right to assign this Lease in the event that Tenant sells all or
substantially all of its assets.
17. SECURITY DEPOSIT. The Tenant will deposit with the Landlord at the
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time of execution of this lease the sum of Thirty-Five Thousand and No/100
Dollars ($35,000.00) in cash, as security for the faithful performance by the
Tenant of all of the terms and covenants of this Lease. In the event that the
Tenant shall fail to perform or observe any of the terms, covenants, conditions
or agreements to be observed or performed by the Tenant hereunder, and such
default shall not be cured within the grace period provided in this Lease, the
Landlord may apply said sum toward any and all damages owed to the Landlord by
the Tenant as a result of such default. In the event the Tenant is not in
default as aforesaid, the Landlord agrees to return said sum to the Tenant at
the termination of this Lease. It is hereby acknowledged that the full amount of
$35,000 is on deposit by Tenant to Landlord from the lease in effect from 1988
to 1993.
18. EVENT OF DEFAULT. Each of the following events shall be considered an event
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of default (an "Event of Default") under this Lease:
(a) A default in the due and punctual payment of any Net Rent or
Additional Rent payable under this Lease or any part thereof within ten (10)
days after the same shall become due and payable; or
(b) A default by the Tenant in the performance of or compliance with any
of the covenants, agreements, terms or provisions contained in this Lease, other
than those referred to in the preceding subdivision (a), provided that the
Tenant shall have 30 days after written notice from the Landlord of such default
to cure such default and provided further that in connection with a default not
susceptible of being cured with due diligence within such 30 day period, the
time of the Tenant within which to cure the same shall be extended for such time
as may be necessary to cure the same with all due diligence, provided the Tenant
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commences promptly and proceeds diligently to cure the same; or
(c) Abandonment by the Tenant of the Demised Premises or if the Demised
Premises are vacated by the Tenant for a period of fifteen (15) days without the
prior written consent of the Landlord; or
(d) The filing by the Tenant of a petition under the United States
Bankruptcy Code or the entry of an order for relief against the Tenant as a
debtor in any proceeding pending under the United States Bankruptcy Code, or the
filing by the Tenant of any petition or other pleading seeking any
reorganization, arrangement, composition, readjustment, liquidation, dissolution
or similar relief under the present or any future federal bankruptcy act or any
other present or future applicable federal, state or other statute or law or the
seeking, consenting or acquiescing in the appointment of any trustee, receiver
or liquidator of the Tenant or of all or any substantial part of its properties
or of the Demised Premises; or
(e) Any action by Tenant to dissolve or cease operations. This lease
requires that the Tenant immediately provide Landlord notice of its intent to
dissolve or cease operations; or
(f) If within 60 days after the commencement of any proceeding against the
Tenant seeking any reorganization, arrangement, composition, readjustment,
liquidation, dissolution or similar relief under the present or any future
federal bankruptcy act or any other statute or law, such proceeding shall not
have been dismissed, or if, within 60 days after the appointment, without the
consent or acquiescence of the Tenant, of any trustee, receiver or liquidator of
the Tenant, or of all of any substantial part of its properties or of the
Demised Premises, such appointment shall not have been vacated or stayed on
appeal or otherwise, or if, within 60 days after the expiration of any such
stay, such appointment shall not have been vacated.
19. LANDLORD'S REMEDIES. On the occurrence of an Event of Default and at any
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time thereafter during the continuance of such Event of Default, the Landlord
may give written notice to the Tenant stating that this Lease and the Lease Term
shall expire and terminate on the date specified in such notice, and except as
otherwise herein provided, this Lease and the Lease Term and all rights of the
Tenant under this Lease shall expire and terminate. Upon any such expiration or
termination of this Lease, the Tenant shall quit and peacefully surrender the
Demised Premises to the Landlord, and the Landlord, upon or at any time after
any such expiration or termination, may without further notice, enter upon and
re-enter the Demised Premises and possess and repossess themselves thereof, by
force, summary proceedings, ejectment or otherwise, and may dispossess the
Tenant and remove the Tenant and all other persons and property from the Demised
Premises and may have, hold and enjoy the Demised Premises and the right to
receive all rental income of and from the same.
No expiration or termination of this Lease by Landlord as above provided shall
relieve Tenant of its liability and obligations under this Lease, and such
liability and obligations shall survive any such expiration or termination. In
the event of an expiration or termination, whether or not the Demised Premises
or any part thereof shall have been relet, Tenant shall pay to the Landlord the
whole rent and other charges required to be paid by Tenant plus expenses of
reletting, including fitting up the Demised Premises for a new tenant, any legal
fees, brokers' commissions and other costs, but minus any rentals received from
such reletting up to the time or expiration or termination of this Lease.
Thereafter, Tenant, until the end of what would have been the term of the Lease
in the absence of such expiration or termination, shall be fully liable to
Landlord and shall pay to Landlord such damages as may now or hereafter exist at
law or in equity or by statute or otherwise in such cases, plus all collection
costs incurred by Landlord, including reasonable attorney's fees. Landlord shall
use its reasonable efforts to relet the Demised Premises.
The Tenant shall be fully liable to Landlord and shall pay to Landlord all
expenses incurred in enforcing the obligations of the Tenant under this Lease,
including but not limited to all court costs and reasonable attorneys fees.
20. LATE CHARGE. If any monthly installment of the Net Rent, or any Additional
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Rent, is not received by the Landlord within ten (10) days after the date it
becomes due and payable, Tenant shall pay to the Landlord a late charge equal to
five percent (5%) of such overdue payment.
21. SALE OF PREMISES OR TENANT. In the event that a sale of the premises is
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consummated, then, as a condition of said sale, Landlord may terminate this
lease on the condition that Landlord give Tenant a minimum of eighteen (18)
calendar months notice prior to termination. In the event that a sale of
substantially all of the stock or assets of the Tenant is consummated, then, as
a condition of said sale, the new owner of the Tenant may terminate this lease
on the condition that Tenant give Landlord a minimum of eighteen (18) calendar
months notice prior to termination. It is clearly understood that all
obligations of Tenant and Landlord must be met during the eighteen months after
notice has been given and prior to the termination.
22. WAIVER OF NOTICE. The Tenant hereby expressly waives, so far as permitted
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by law, the service of any notice of intention to re-enter provided for in any
statute, or of the institution of legal proceedings to that end, and the Tenant,
for and on behalf of itself and all persons claiming through or under the Tenant
also waives any and all right of redemption or re-entry or repossession or to
restore the operation of this Lease in case the Tenant shall be dispossessed by
a judgment or by warrant of any court or judge or in case or re-entry or re-
possession by the Landlord or in case of any expiration or termination of this
Lease. The terms, "enter" or "re-enter", "entry" or "re-entry" as used in this
Lease are not restricted to their technical legal meaning.
23. LANDLORD'S NON-WAIVER. No failure by the Landlord to insist upon the strict
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performance of any covenant, agreement, term or condition of this Lease or to
exercise any right or remedy consequent upon a breach thereof, and no acceptance
of full or partial rent during the continuance of any such breach, shall
constitute a waiver of any such breach or of such covenant, agreement, term or
condition. No covenant, agreement, term or condition of this Lease to be
performed or complied with by the Tenant, and no breach thereof,, shall be
waived, altered or modified except by a written instrument executed by the
Landlord. No waiver of any breach shall affect or alter this Lease, but each and
every covenant, agreement, term and condition of this Lease shall continue in
full force and effect with respect to any other then existing or subsequent
breach thereof.
24. CUMULATIVE REMEDIES. Each right and remedy of the Landlord provided for in
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this Lease shall be cumulative and shall be in
addition to every other right or remedy provided for in this Lease or now or
hereafter existing at law or in equity or by statute or otherwise, and the
exercise or beginning of the exercise by the Landlord of any one or more of the
rights or remedies provided for in this Lease or now or hereafter existing at
law or in equity or by statute or otherwise shall not preclude the simultaneous
or later exercise by the Landlord of any or all other rights or remedies
provided for in this Lease or now or hereafter existing at law or in equity or
by statute or otherwise.
25. SUBORDINATION. This Lease shall be subject and subordinate to all mortgages
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and building loan mortgages which may presently or hereafter affect the premises
or Demised Premises, and each and every advance which may hereafter be made
thereunder, and to all renewals, modifications, consolidations, replacements and
extensions thereof. Tenant shall, at the request of Landlord, execute and
deliver such instruments or documents required by any mortgagee of the premises
or the Demised Premises to evidence or reflect the subordination of this Lease
as provided herein.
26. RENEWAL. Tenant and Landlord agree that, if Xxxxxxx, Xxxxx has not been
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sold during the term of this lease, that the lease will be renewed on mutually
acceptable terms for an additional term of five (5) years.
27. NON-DISTURBANCE. The Landlord shall, at the request of the Tenant, provide
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the Tenant with the customary non-disturbance agreement from any mortgagee to
whose interest this Lease is subordinate. Such non-distribution agreement shall
provide that the rights of Tenant hereunder shall not be disturbed so long as
the Tenant is not in default hereunder.
28. ESTOPPEL CERTIFICATES. Each party shall, without charge, at any time and
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from time to time, deliver a written estoppel certificate to any person, firm or
corporation specified by the other party.
29. NOTICE OF LEASE. At the option of either party, the Landlord and the Tenant
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shall execute a short form of Notice of Lease for recording purposes, which
shall be subject to approval of counsel for the Landlord and Tenant.
30. NOTICE. Any notice under this Lease must be in writing and must be
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personally delivered or sent by registered or certified mail to the last address
of the party to whom the notice is to be given as designated by such party from
time to time in writing. The Landlord and Tenant hereby designate the address
hereinbefore set opposite their respective names as their respective addresses.
31. EXONERATION. The Landlord shall not be liable for any personal injury to
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the Tenant or for any damage to any property of the Tenant or of any other
occupant of any part of the Demised Premises, irrespective of how such injury or
damage may be caused, whether from action of the elements or acts of negligence
of the
Tenant or occupants of adjacent properties. Tenant shall indemnify Landlord from
any liability or any claims, demands or expenses incurred, which arise out of,
or result from any personal injury to any persons or property on or about the
Demised Premises or the premises during the term hereof, which indemnification
shall include, but shall not be limited to any court costs and attorneys fees
incurred by Landlord in connection with the defense hereof.
32. CAPTIONS. The captions of this Lease are for convenience only and shall in
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no way be construed to affect the interpretation of this Lease.
34. SEVERABILITY. If any term or provision of this Lease, or the application
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thereof to any person or circumstance, shall to any extent be invalid or
unenforceable, the remainder of this Lease or the application of such term or
provision to persons or circumstances, other than those as to which it is
invalid or unenforceable, shall not be affected thereby; and each term and
provision of this Lease shall be valid and enforceable to the fullest extent by
law.
IN WITNESS WHEREOF, the Landlord and Tenant hereunder have hereunto set
their names and seals the day and year first above written.
LANDLORD
Signed, Sealed and Delivered NEW ENGLAND RESOURCES LIMITED
as to the signatories in the PARTNERSHIP
presence of:
/s/ Xxx-Xxxxx Xxxxxx
By: ---------------------------------------
Its
TENANT:
THE XXXXXXX, XXXXX COMPANY
/s/Xxxxxx X. Xxxxxxx
By: ---------------------------------------
Its President
