EXHIBIT 10.0
SUBLEASE AGREEMENT
THIS AGREEMENT, made this ______ day of December, 1999 between Xxxxxxx
& Xxxxxx, P.A., f/k/a Xxxxxxx, Xxxxxxx & Xxxxxx, P.A., a Florida corporation,
having an office at 000 XXX Xxxx., Xxxxx 000, Xxxx Xxxxx Xxxxxxx, XX 00000
(hereinafter referred to as Sublessor) and iCrown Corporation, a Florida
corporation, having an office at 0000 XXX Xxxx., Xxxxx 000, Xxxx Xxxxx Xxxxxxx,
XX 00000 (hereinafter referred to as Sublessee).
W I T N E S S E T H :
WHEREAS, pursuant to Lease dated October 1, 0000 xxxxxxx Xxxx Xxxxx
Xxxxxxx Hotel and Office Building Limited Partnership, a Florida limited
partnership, as landlord, and Xxxxxxx, Xxxxxxx & Xxxxxx, P.A., as tenant, a copy
of which lease is attached hereto as Exhibit A (hereinafter referred to as the
Lease), covering a portion of the third floor of the building known as Admiralty
Tower Two (hereinafter referred to as the Leasehold); and
WHEREAS, Sublessee desires to sublease from Sublessor and Sublessor
desires to sublease unto Sublessee the portion of the Leasehold indicated in red
on Exhibit B containing approximately 1100 square feet (hereinafter referred to
as the Premises); and,
NOW, THEREFORE, in consideration of the Premises and the mutual
undertakings, covenants, promises, and agreements of the parties, IT IS AGREED
AS FOLLOWS:
1. Providing all of the terms and conditions contained within this
Agreement are fulfilled, Sublessor shall sublease unto Sublessee and Sublessee
shall accept the sublease of, the Premises from the date hereof through November
30, 2000, subject to the rents, terms, covenants, conditions, and provisions set
forth in the Lease.
2. The Commencement Date is conditioned upon the completion of all of
the following conditions:
(a) This Agreement is executed by the Sublessor and Sublessee;
and
(b) The Landlord has approved the Sublease, in writing.
3. This Agreement shall automatically terminate on November 30, 2000,
or such earlier date as provided herein.
4. Sublessee represents and warrants that it has read the Lease and
agrees that:
(a) The terms, covenants, promises, and conditions of the
Lease are incorporated herein; and
(b) Sublessee shall comply with and be bound by all of the
terms, covenants, promises, and conditions of the Lease;
(c) Sublessee shall comply (without delay) with all reasonable
requirements of the Landlord's consent to this Sublease.
5. Sublessor shall duly observe and perform those obligations imposed
upon the Tenant under the Lease to the extent that such obligations are not
provided in this Sublease to be observed or performed by Sublessee, except with
respect to any failure in such observance or performance which results from any
default by Sublessee.
6. Sublessor warrants and represents to Sublessee that on the
Commencement Date:
(a) The Lease is valid and existing, there are no existing
defaults on the part of the Landlord or the Tenant with respect thereto, and the
Landlord does not hold any claim against the Tenant;
(b) There are and will be no contracts for services or
otherwise on account of maintenance or repairs which expressly or impliedly are
or will be binding upon Sublessee or upon the Premises.
7. In consideration for this Sublease, Sublessee shall pay Sublessor an
annual rental for the Premises of Twenty Four Thousand One Hundred Sixty Eight
Dollars ($ 24,168.00 ) to be paid in equal monthly payments in advance on the
first day of each and every month of Two Thousand Fourteen Dollars ($ 2014.00 ).
Simultaneously with the execution of this Sublease, Sublessee shall pay a
security deposit equal to one month's rent and the first month's rent in
advance. Commencing December 1, 2000, the annual rent shall be increased or
decreased by one-third of any adjustments to Sublessor's rent paid to Landlord.
8. Any notices shall be in writing and shall be sent by registered or
certified mail, return receipt requested, addressed to the parties at the
addresses indicated on page one hereof, or such other address as such party has
been advised of in writing.
9. This Agreement contains the entire agreement and understanding
between the parties hereto with respect to the Premises, and there are no other
terms, covenants, obligations, or representations, oral or written, of any kind
whatsoever.
10. This Agreement shall be binding upon, and shall inure to the
benefit of, the parties hereto, their respective heirs, executors,
administrators, successors, and assigns, and may not be revoked or amended,
except by instrument, in writing, subscribed by the party sought to be charged
therewith.
11. For value received and in consideration for, and as an inducement
to, Sublessor's making this Sublease, Crown Holdings Corporation, a Florida
corporation guarantees to Sublessor and Sublessor's successors and assigns, the
full performance and observance of all the covenant's, conditions, and
agreements herein provided to be performed by Sublessee, without requiring any
notice of non-payment, non-performance, or non-observance, or proof, or notice
or demand, all of which the guarantor waives and expressly agrees that the
validity of this guaranty and the obligations of the guarantor hereunder shall
in nowise be terminated, affected, or impaired by reason of the assertion by
Sublessor against Sublessee of any of the rights or remedies reserved to
2
Sublessor under the Sublease.
12. This Agreement shall be interpreted and governed by the laws of the
State of Florida.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date, month, and year first above written.
AS TO SUBLESSEE:
iCrown Corporation, a Florida corporation
By:________________________________
Xxxxxx X. Xxxxxx, President
AS TO SUBLESSOR:
Xxxxxxx & Xxxxxx, P.A., a Florida
professional association
By:________________________________
Xxxxxx X. Xxxxxxx, Director
AS TO GUARANTOR:
Crown Capital Holdings Corp., a Florida
corporation
By:________________________________
Xxxxxx X. Xxxxxx, Chairman
3
