LEASE Exhibit 10.56
This LEASE made June 1, 2002 by and between Gallup & Hall, a limited
liability partnership with offices at 000 Xxxxxxx Xxxx, Xxxxxxxxx, XX
(hereinafter "Landlord"), and Merrimack Services Corporation, a Delaware
corporation with offices at 000 Xxxxxxx Xxxx, Xxxxxxxxx, Xxx Xxxxxxxxx 00000
(hereinafter "Tenant").
In consideration of the mutual covenants herein contained, the Landlord
agrees to lease to the Tenant and the Tenant agrees to lease form the Landlord,
the following described premises under the following conditions:
1. PREMISES. The premises to be leased consist of two adjoining parcels known as
000 Xxxxxxxx Xxxxxx xx Xxxxx, Xxx Xxxxxxxxx and an approximately 1,152 square
foot building situated thereon together with any parking spaces thereon, further
described in a deed dated May 8, 1997 and recorded at Volume 1598, Page 595 in
the Cheshire County Registry of Deeds.
2. TERM. This Lease shall be on a month-to-month basis.
3. RENT. Tenant shall pay to Landlord as rent the sum of $1,344.00 per month
payable in advance on the first of the month.
4. POSSESSION. Tenant shall have possession of the premises upon execution of
the lease.
5. COVENANTS. Landlord warrants that it is the true owner of record of the
Premises. Landlord covenants that so long as Tenant pays the rent and performs
its covenants, Tenant shall peaceably and quietly have, hold, enjoy and have the
exclusive use of the of the premises for the term provided.
Tenant covenants that it will undertake only lawful business on the premises and
that it will comply with all applicable laws and regulations, and that it will
not operate any business so as to constitute a nuisance. Tenant covenants that
at the end of the Lease term, or the renewal period, it will return the premises
to the Landlord in its original condition, subject to reasonable wear and tear
and subject to such improvements that Tenant does not remove.
6. IMPROVEMENTS. Tenant may make reasonable improvements to the premises
including office fix-up and the erection of signs, at its expense. Tenant shall
promptly pay for all material and labor for said improvements and shall have the
option of removing any of the improvements at the end of the Lease period unless
removal will cause damage to the premises; all removal shall take place no later
than 30 days after the end of the Lease period. Tenant shall make no structural
changes to the building without the prior written consent of the Landlord.
7. ASSIGNMENT. Tenant may assign this Lease to its subsidiary, sister or parent
corporation; notice of which will be given to Landlord. Tenant will not
otherwise assign or sublet this Lease without the Landlord's consent; which
consent it will not unreasonably withhold. Landlord may assign this Lease to
banks or other financial institutions for the purpose of securing loans made by
it.
8. REPAIR. Landlord shall keep the buildings' roof and structure in good
repair. Tenant shall make all other necessary repairs to the premises, including
the heating, electrical and plumbing systems. Reasonable wear and tear shall be
allowed.
9. UTILITIES. Tenant shall pay all utilities and services including water and
sewer charges, snow removal, trash removal, lawn mowing, janitorial, heat
electricity, telephone and any other utility.
10. TAX. Landlord shall be responsible for all real property taxes assessed
against the premises.
11. INSURANCE. Tenant shall maintain adequate fire and extended hazard insurance
(all risk policy) on the building and shall maintain adequate insurance on its
contents and property on the premises, including improvements within the
building. Tenant and Landlord shall each maintain adequate general liability
insurance, with waivers of subrogation. Policies of insurance shall be presented
for review upon the reasonable request of the other party.
12. SHOWING. Landlord may show the premises from time to time, at a time
agreeable to Tenant.
13. HOLD HARMLESS. Tenant agrees to save the Landlord harmless from and
indemnify Landlord against, any and all claims, actions or damages resulting
form any act, omission or negligence of Tenant or subtenant taking place within
the building or directly caused by Tenant or its agent on the premises, or in
connection with making any improvements, unless any such claim, action or damage
results for any act, omission or negligence of a third party on the premises,
not on business with the Tenant. Landlord agrees to save the Tenant harmless
form and indemnify Tenant against any and all claims, actions or damages
resulting from any act, omission or negligence of Landlord or its agent.
14. GENERAL. This Lease represents the entire and exclusive understanding
between the parties. This Lease shall be binding on the parties, their heirs,
legal representatives, assigns and successors. Failure to exercise any rights
herein shall not prejudice the parties in any future exercise of the rights.
This Lease is subject to the laws of the State of New Hampshire.
Agreed.
Merrimack Services Corporation
By: /s/ Xxx Xxxxx
--------------------------------------
Xxx Xxxxx, Director of Facilities
Gallup & Hall, LLP
By: /s/ Xxxxxxxx Xxxxxx
--------------------------------------
Xxxxxxxx Xxxxxx, Partner
