PERRY SCIENTIFIC INC COMMERCIAL LEASE OF VIVARIUM ROOM
PERRY
SCIENTIFIC INC
COMMERCIAL
LEASE OF VIVARIUM ROOM
This
lease is
made
between Perry Scientific Inc., a Nevada corporation located at 0000 Xxxxxxx
Xxxxxx, Xxx Xxxxx Xxxxxxxxxx 00000 herein called Lessor, and Neuralstem,
Inc.
0000 Xxxxx Xxxxxx Xxxxxxx Xxxxxxxxx, XX) 00000 herein called
Lessee.
Lessee
hereby leases from Lessor portions of the premises situated in the City of
San
Diego, County of San Diego, Stale of California, de-scribed as a vivarium
room
at 0000 Xxxxxxx Xxxxxx, Xxx Xxxxx Xxxxxxxxxx 00000 ("premises"), upon the
following terms and conditions;
Term
and Rent. Lessor
agrees to rent to the Lessee a vivarium room for its exclusive use for a
term of
12
months commencing
on or about March
2006, at
a
monthly rental of $5,500 This rent is payable in equal installments in advance
on the 1st
day
of
each month for that months rental, during the term of this lease. All rental
payments shall be made (without invoice) to the Lessor, at the address specified
above.
Research
Use. The
Lessee shall use and occupy the premises for the use of laboratory animals
and
research. The premises shall be used for no other purpose. This lease is
a
commercial lease
for
space
within Perry Scientific's vivarium.
Vivarium
Services. Exhibit
A, which is attached hereto and incorporated herein by this reference, outlines
Lessor's and Lessees responsibilities for the care of animals housed in the
premises.
Care
and Maintenance of
Premises.
Lessee
shall he responsible for any damage caused by Lessee and repairs required
to
repair any such damage. Lessee shall not, without first obtaining written
consent of the Lessor, make any alterations to the premises.
Employees.
During
the period of the lease, and for two years afterwards, Lessee agrees riot
to
hire, or attempt to hire, any employee of the Lessor.
Ordinances
and Statutes. Lessee
shall comply with all statutes, ordinances and requirements of all municipal,
state and federal authorities now in force, pertaining to the premises,
occasioned by or affecting the use thereof by Lessee.
Assignment
and Subletting. Lessee
shall not assign this lease or sublet any portion of the premises without
prior
written consent of the Lessor. Any such assignment or subletting without
consent
shall be void and, at the option of the Lessor, may terminate this
lease.
Indemnification.
Lessee
will indemnify and hold harmless Lessor from any claims arising out of Lessee's
use of the premises or breach by Lessee of this Lease, except to the extent
such
churns result from the negligence or willful misconduct of Lessor Lessor
will
indemnify and hold harmless Lessees from any claims arising out of Lessor's
use
of the premises or breach by Lessor of this Lease, except to the extent such
claims result from The negligence or willful misconduct of Lessee.
Lessor's
Remedies on Default. If
Lessee
defaults in the payment of rent, or defaults in the performance of any of
the
other covenants or conditions hereof, Lessor may give Lessee notice of such
default and if Lessee does not cure any such within 7 days, after the giving
of
such notice, Lessor miry terminate this lease in not less than 7 days notice
to
Lessee. On the date specified in such notice the term of this lease shall
terminal; and Lessee shall then quit and surrender the premises to Lessor,
but
Lessee shall remain liable for all rent and other terms and conditions as
herein
provided. If this lease shall have been so terminated by Lessor, Lessor may
at
any rim.;
thereafter resume possession of the premises by any lawful means and remove
Lessee or other occupants and their effects. No failure to enforce any
term shall be deemed a waver.
Security
Deposit. Lessee
shall deposit with Lessor on the signing of this lease a sum equal to one
month's rent as security for the performance of Lessee's obligations under
this
lease. It is understood that the security deposit shall not be considered
an
advance payment of rental or a measure of Lessor's damages In case of default
by
Lessee. If Lessee is not in default at the termination of this Lease, the
Security Deposit shall be returned by Lessor to Lessee.
Attorney's
Fees.
In case
suit should be brought for recovery of the premises, or for any sum due
hereunder, or because of any act which may arise out of possession of the
premises, by either party, the prevailing party shall be entitled to all
costs
incurred in connection with such action, including a reasonable attorney's
fee.
Notices. Any
notice that either parry is required to give, shall ho given by
certified
mail
to the Lessee at the address noted above, or b certified mail to the Lessor
at
the address above, addressed to Xxxxxx Xxxxx, President.
Confidentiality. The
parties agree that all data created, collected and in any way
related to the studies carried out by Lessor under this agreement belongs
entirely to Lessee, and is confidential and shall treated as such by
lessor.
IN
WITNESS WHEREOF, the parties have executed this Agreement as of the date
first
written above.
|
LESSEE
|
LESSOR
|
|
By:
/s/
I. Xxxxxxx Xxxx
|
By:
/s/
Xxxxxx Xxxxx
|
|
Name:
I.
Xxxxxxx Xxxx
|
Name:
Xxxxxx
Xxxxx M.D. Ph.D.
|
|
Title:
Pres
& CEO
|
Title:
President
|
|
Date:
2-14-06
|
Date:
2/14/06
|
