LEASE EXTENSION
LEASE
EXTENSION
AGREEMENT, made this 23rd day of
April, 2007 between Xxxxxx X. Xxxxxx & Co., Agent for the beneficiary
pursuant to Trust No. 120886-05, dated December 20, 1995 and established with
LaSalle Bank as Trustee and Trust Co. of Chicago, by and between XXXXXX
EXECUTIVE XXXXX, as LANDLORD, and Applied NeuroSolutions, Inc,. an Delaware
Corporation, as TENANT.
WITNESSETH:
That the Lease Agreement dated November
22, 1996 and Amended May 1, 1997, between the parties hereto, covering 7,500
square feet of space in the building known by street address as 00 Xxxxxxxx
Xxxxxxx, Suites 110 & 111, Xxxxxx Xxxxx, Xxxxxxxx 00000, as more
particularly shown in said Lease, for a term commencing February 15, 1997 and
expiring May 14, 2002, and the Lease Extension dated March 18, 2002 for a term
commencing May 15, 2002 and expiring May 14, 2007 is hereby further amended and
extended as follows:
A) Effective May 15, 2007
said Lease is extended for a term of three (3) years, expiring May 14,
2010.
B) Effective MAY 15, 2007,
Tenant shall pay to Landlord the sum of Two Hundred, Ninety-Eight Thousand, One
Hundred Twenty-Five Dollars and 00/100 ($298,125.00)as rent in installments as
follows:
From 05/15/07 to 05/14/08 in monthly
installments of $8,281,25
From 05/15/08 to 05/14/09 in monthly
installments of $8,281.25
From 05/15/09 to 05/14/10 in monthly
installments of $8,281.25
C) With
regards to the Landlord and the Landlord's Exclusive Agent (Xxxxxx X. Xxxxxx
& Co.) paying commissions for existing Tenants renewing, extending or
expanding their Lease, it is expressly understood, in all cases, that the
Tenant's representative, if any, will be directly compensated for it's services
by the Tenant. And further, both the Landlord and Landlord's
Exclusive Agent reserves the right to require written confirmation from the
Tenant, that the Tenant is responsible for such compensation prior to commencing
any communications or discussions with the Tenant's
Representative.
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Article 1: Security
Deposit
1.0 Security
Deposit
Security Deposit
Amount: $8,281.25
Article 2: Tenant
Improvements
2.0 Tenant
Improvements
Landlord at Landlord’s expense will
perform the following tenant improvements; Repaint office area; clean carpet;
replace broken ballast in ceiling fixtures; repair ceiling in bathroom, fix or
replace faucet in darkroom; clean air ducts; replace thermostats with
programmable thermostats; replace any corroded sinks and faucets; trim all
bushes outside of office near Suite 110 entrance and wax/seal floor in
lab.
It is mutually understood and agreed by
the parties hereto that, unless specifically changed or amended above, this
Lease Extension does not modify or amend any of the provisions, conditions,
terms or covenants of the Lease dated December 3, 1996 and all Extensions
thereto.
Tenant hereby acknowledges that
Landlord has, during the initial Term of the Lease, satisfied all obligations
required of the Landlord pursuant to the terms of the Lease
Agreement. In consideration of Landlord’s execution of this Lease
Amendment, Tenant hereby releases Landlord from any liability for any matter
arising prior to the effective date of this Lease Amendment.
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2
LANDLORD: TENANT:
Xxxxxx X.
Xxxxxx & Co.,
Agent Applied NeuroSolutions,
Inc.
for the
beneficiary pursuant
to An Delaware
Corporation
Trust
Agreement established
with
LaSalle
Bank and Trust
Co. of
Chicago, as Trustee pursuant
to Trust
Agreement dated December 20,
1995 and
known as Trust No. 120886-05
___________________________ ________________________________
Xxxxxxx
X. Xxxxxxx,
RPA/President Signature
Title:____________________________
Date: ____________________________ Date:____________________________
Landlord's
offer may withdraw by the Landlord or it's Agent at anytime without notice, and
does not constitute a binding offer or Lease Extension until properly signed by
all parties to the Lease, and a fully executed copy is delivered by the Landlord
to Tenant.
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