LEASE AGREEMENT
THIS LEASE AGREEMENT entered into this 1st day of January 1996, by and between
Xxxxxxx Xxxxxxx, whose address is 0000 Xxxxxxx Xxxx, Xxxxx, XX 00000
("Landlord") and the Applied Technology Center Corporation, a South Carolina
501(C)3 Corporation, with an office at 0000 Xxxxxxx Xxxx, Xxxxx, Xxxxx Xxxxxxxx
00000 ("Tenant").
W I T N E S S E T H:
1. PROPERTY LEASED
(a) The Landlord, for and in consideration of the rents, covenants, and
agreements hereinafter specified to be paid, kept, and performed by the Tenant,
hereby leases to the Tenant and the Tenant hereby leases from the Landlord, the
free standing facility located at 0000 Xxxxxxx Xxxx, Xxxxx, Xxxxx Xxxxxxxx
00000, herein referred to as "the Leased Premises" or "the Premises".
(b) The Tenant shall have the exclusive right to possession of the Leased
Premises during the term hereof, subject to this Agreement.
2. TERM AND POSSESSION
(a) Subject to the terms and conditions hereof, the Lease Term shall commence
January 1, 1996. This initial Lease Term shall expire at midnight on December
31, 1996, but will continue on a month by month basis thereafter, unless
otherwise terminated upon sixty (60) days written notice.
(b) Possession of the Leased Premises shall be given on the date this Lease
Term commences.
(c) Upon the expiration or other termination of this Lease, the Tenant shall
quit and surrender the Leased Premises broom-swept clean, in the same condition
as at the commencement of the term, normal wear and tear only excepted.
3. USE OF PREMISES
(a) The Leased Premises shall be used and occupied only as office, assembly,
and laboratory space.
4. UTILITIES, OPERATING EXPENSES, and SERVICES The Tenant shall pay for all
utilities, including heat, electricity, and telephone service.
5. RENT
(a) Rent shall be paid to Landlord at Landlord's address, unless Landlord
designates another place.
(b) During the full term of this Lease, the Tenant shall pay the Landlord the
fixed sum of $1,250. each month of the Lease Term payable on the first day of
each month, commencing with the first month of the Lease Term.
6. ALTERATIONS BY TENANT The Tenant shall make no alterations or additions to
the Leased Premises without the prior consent of the Landlord.
7. GOVERNMENTAL REQUIREMENTS Tenant agrees to comply with all requirements of
any legally constituted public authority including, but not limited to, all
health, safety, and fire codes and regulations of the State of South Carolina
and the County of Aiken. Tenant shall obtain all required licenses or permits
for the conduct of its business within the terms of this Lease, and the
Landlord, where necessary, will join with the Tenant in applying for all such
licenses or permits.
8. ENVIRONMENTAL LAW COMPLIANCE Tenant will not cause, or permit to be caused,
any act or practice, by negligence, omission, or otherwise, that would adversely
affect the environment, or do anything or permit anything to be done that would
violate any of said laws, regulations, or guidelines. Tenant shall be
responsible for obtaining proper permits for the transportation, use, and
disposal of any hazardous materials brought onto the premises by Tenant or
produced by any activity of Tenant.
9. DESTRUCTION OR DAMAGED PREMISES If the Leased Premises are totally destroyed
(or so substantially damaged as to be untenantable) by storm, flood, fire,
earthquake, or other casualty, this Lease shall terminate as of the date of such
destruction or damage, and rental shall be accounted for between Landlord and
Tenant as of that date. If the Leased Premises are damaged but not rendered
wholly untenantable by any such casualty or casualties, rental shall xxxxx in
such proportion as the use of the Leased Premises has been destroyed until the
Landlord has restored the Leased Premises to substantially the same condition as
before damage, whereupon full rental shall recommence. Nothing contained herein
shall require Landlord to make such restoration, however, if not deemed
advisable in its judgment. Landlord shall make its intentions to restore or not
to restore said Leased Premises to original condition known to Tenant in writing
within sixty (60) days of such occurrence. If Landlord decides against such
reconstruction or fails to provide such notice, Tenant may, at its option,
cancel this Lease .
10. RENOVATION BY LANDLORD If Landlord and Tenant deem it necessary to effect
renovations or redecorations of the Building in which the Leased Premises are
located, or of the improvements of which the Building is a part, all standard
materials (i.e. sheetrock, flooring, lighting, etc.) shall be reimbursed to
Landlord by Tenant. However, reasonable labor and any
extraordinary expenses (i.e. HVAC, xxxxx, etc.) required to upgrade or maintain
the Premises shall be provided as at Landlord's expense under this Lease.
11. MAINTENANCE Tenant agrees to maintain the Leased Premises, as well as all of
Tenant's fixtures and Tenant improvements, in good condition and repair during
the Term of this Lease to the reasonable satisfaction of Landlord.
12. MISCELLANEOUS PROVISIONS
(a) Entire Agreement This Lease contains the entire agreement of the parties
and no representations, inducements, promises, or agreements, oral or otherwise,
between the parties not embodied herein shall be of any force or effect. No
failure of the Landlord to exercise any power given the Landlord hereunder, or
to insist upon strict compliance by the Tenant of any obligation hereunder, and
no custom or practice of the parties at variance with the terms hereof shall
constitute a waiver of the Landlord's right to demand exact compliance with the
terms hereof.
(b) Notice Whenever it is provided herein that notice, demand, request, or
other communication shall or may be given to any of the parties by any other
party, such notice, demand, request, or other communication shall be in writing.
(c) Binding Effect This Agreement shall be binding upon the successors and
assigns of the Landlord and Tenant.
IN WITNESS WHEREOF, the parties hereto have signed and sealed this Agreement as
of the day and year first above written.
XXXXXXX XXXXXXX APPLIED TECHNOLOGY CENTER
Corporation
_____________________ By: _____________________
"Landlord" "Tenant"