LEASE
This lease ("Lease") is made". as of July 1, 1997 between Xxxx Xxxxxxxx
and Xxxx Xxxxxxxx, t/a CROSS CREEK POINTE, hereinafter "Lessor" and DERMA
SCIENCES "Lessee".
WITNESSETH
Lessor hereby leases to Lessee and Lessee hereby leases from Lessor that
certain office space known as Suite 403, consisting of approximately 2003 sq.ft.
on the fourth floor, of that certain office building located at Cross Creek
Pointe Office Building, situated at Xxxxx 000, Xxxxxx-Xxxxx, Xxxxxxxxxxxx
referred to below as the Premises'.
1. Term. This Lease is for a term of three years, beginning on July 1, 1997 and
ending on June 30, 2000 (the "Term").
2. Rent. The total rent per year, will, be Thirty-Seven Thousand Fifty-Five end
50/100 dollars ($37,055.50), payable in equal monthly sums of Three Thousand
Eighty-Seven and 95/100 dollars ($3,087.95) on or before the first day of each
month during the Terra.
3. Use. The Premises may be used for the operation of offices and related
services.
4. Assignment and Subletting. Lessee may assign and/or Sublet the premises with
written permission of Lessor. Lessor's permission shall not unreasonably
withheld.
5. Maintenance and Repairs. Lessor, at its own expense, will put the Premises in
good order and repair on or before the commencement of this Lease and subject to
Lessee's inspection. Lessor, at its own expense, will maintain all structural
elements of the Premises, the plumbing, electric and other utility lines
servicing the Premises, and walls, roof, doors, and windows of the Premises.
Lessee, at its own expense, will otherwise maintain the Premises in good and
safe condition and will surrender the Premises, at termination of this lease, in
as good condition as received, normal wear and tear excepted.
6. Services and Utilities. Lessor, at its own expense, will furnish janitorial
services and all utilities except telephone.
7. Entry and Inspection. Lessee will permit Lessor or Lessor's agents to enter
the Premises at reasonable times and upon reasonable notice, for the purpose of
inspection, and to exhibit them for purposes of sale or rental at any time
within sixty (60) days prior to the termination of this Lease.
8. Indemnification. Lessor will not be liable for any damage or injury caused
solely by Lessee on the Premises. Lessee will indemnify and hold Lessor harmless
for any claims for damages caused solely by an act or omission of Lessee, its
agents or employees that occurs on the Premises. Lessor will indemnify and hold
Lessee harmless for any claims for damages caused by an act or omission of
Lessor, its agents or employees.
9. Condemnation. If any part of the Premises is taken or condemned for public
use or purpose than the Term will cease from the date of the taking or
condemnation and Lessee will have no further obligation to pay rent after such
date. All sums which may be payable on account of any condemnation will belong
to Lessor, provided however, that Lessee shall be entitled to retain any amount
awarded to it for the value of the leasehold, loss of business, moving expenses
and any other damages and/or compensation as provided in law or equity.
10. Bankruptcy. If before or during the Term, a petition in bankruptcy is filed
by or against Lessor or Lessee and is not dismissed within ninety (90) days, or
if either party makes an assignment for the benefit of creditors or is
adjudicated bankrupt ("Bankrupt Party"), this Lease will be terminated at the
option of the other party, after ten (10) days written notice to the Bankrupt
Party.
11. Casualty. If any part of the Premises are damaged by fire or other cause to
the extent that the Premises are rendered untenantable and cannot be reasonably
rendered in as good condition as existed prior to the damage within (60) days
from the date of the damage, this Lease may be terminated by Lessee by giving
written notice to Lessor and rent will be abated from the date of the damage. If
the damage is not such as to permit a termination of this Lease as described
above, or if Lessee does not terminate this Lease, Lessor will promptly repair
the Premises to its original condition. The obligation for rent will be abated
during the period that the Premises are being repaired.
12. Insurance. Lessor, at its own expense, will pay fire insurance premiums on
the building of which the Premises are a part in an amount sufficient to cover
the entire building. Such insurance will name both Lessee and Lessor as insureds
in proportion of their interests in the building or its contents. Lessor will
provide Lessee with proof of such insurance upon Lessee's demand. Lessee, at its
option, will provide fire insurance on the personal property that Lessee moves
into the Premises, and any casualty insurance desired by Lessee, both at the
expense of Lessee. To the maximum extent permitted by insurance policies which
may be owned by Lessor or Lessee, Lessee and Lessor, for the benefit of each
other, waive any and all rights of subrogation which might otherwise exist.
13. Possession. If Lessor is unable to deliver possession of the Premises at the
commencement of the Term, Lessor will reimburse Lessee for Lessee's
out-of-pocket expenses as a result of such delay, and Lessee will not be liable
for any rent until possession is delivered. Lessee may terminate this Lease if
possession is not delivered within ten (10) days of the commencement of the
Term.
14. Lessee's Default. In the event the monthly rental provided above remains
unpaid after the due date and fifteen (15) days prior to written notice, or in
the event Lessee ahs not properly corrected any other defaults under this Lease
after thirty (30) days written notice form Lessor to do so, then Lessor will
have the option to terminate this Lease or pursuing any other remedies which
Lessor may have at law or equity or under any state statute or regulation. The
election by Lessor of any remedy afforded Lessor will not be deemed a waiver of
any other remedies available to Lessor, Lessor's remedies being cumulative.
15. Lessor's Default. In the event of a breach of this lease by Lessor, and
Lessor's failure to cure such breach within thirty (30) days of Lessee's written
notice of breach to Lessor, Lessee will have the option of: (1) taking
reasonable steps to cure such breach, (2) terminating this Lease upon ten (10)
days written notice, and/or (3) pursuing any other remedies which Lessee may hat
at law or equity or under any state statute or regulation. Should Lessee elect
to cure Lessor's breach, Lessee may offset the costs of cure incurred by Lessee
against any future sums due Lessor under the Lease and/or submit an invoice to
Lessor specifying the amount due Lessee, which amount Lessor will pay within ten
(10) days of receipt of Lessee's invoice. The election by Lessee of any remedy
afforded Lessee will not be deemed a waiver of any other remedies available to
Lessee, Lessee's remedies being cumulative.
16. Waiver. The waiver by either Lessor or Lessee of any breach by the other
will not be deemed a waiver of any other breach similar of otherwise.
17. Consents. Any consent required of either Lessor or Lessee will not be
unreasonable withheld.
18. Notice. Any notice which wither party may or is required to give, will be
given by registered or certified mail, upon receipt requested, postage prepaid,
to the address(es) shown below, or at such other places as may be designated by
the parties form time to time.
To Lessor at:
Xxxx Xxxxxxxx and Xxxx Xxxxxxxx
Cross Creek Pointe
0000 Xxxxxxx 000
Xxxxxx-Xxxxx, XX 00000
To Lessee At:
Derma Sciences
000 X. Xxxxx Xxxxxx
Xxx Xxxxx, XX 00000
Xx. Xxxx X. Xxxxxxxxx
19. Option to Renew. Lessor grants to Lessee, an option to renew this lease
with all the terms and conditions of the renewal lease being the same as terms
and conditions in this Lease. To exercise this option, Lessee must give Lessor
written notice of its intention to renew at least sixty (60) days prior to the
expiration of each such term.
20. Quite Enjoyment. Lessor covenants that Lessee will have quit enjoyment of
the Premises for the duration of this Lease, and any renewal thereof.
21. Parties. The covenants and agreement in this Lease will be binding on and
will inure to the parties and may be amended only by a writing signed by both
parties.
IN WITNESS WHEREOF, the lessor and Lessee have executed this Lease as
of the day and year first above written.
LESSOR LESSEE
CROSS CREEK POINT DERMA SCIENCES, INC.
By: /s/ Xxxx Sidelmen By: /s/ Xxxx X. Xxxxxxxxx
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Manager President
Attest: /s/ Xxx Xxxxxxxxxx Attest: /s/ Xxxxxx XxXxxxxxx
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