WATERWAY PLAZA ONE OFFICE – SUBLEASE
Exhibit
10.5
![logo](https://www.sec.gov/Archives/edgar/data/1391407/000121478207000255/texogalogo.jpg)
WATERWAY
PLAZA ONE
OFFICE
– SUBLEASE
FOR
GOOD
AND VALUABLE CONSIDERATION, the receipt and sufficiency of which are
acknowledged, the Tenant named below leases to the Sub-Lessor named below,
and
Sub-Lessor leases from the Tenant, the Premises described below pursuant
to this
Office Lease (this “Lease”) entered into effective as of the
Date of Sub-Lease specified below:
BUSINESS
POINTS: The key business terms used in this Lease are
defined as follows:
1.
|
“Date
of Lease” (for reference purposes only): March 1,
2007.
|
2.
|
“Landlord”: NNN
Waterway Plaza, LLC (Number 1 through 32), each one a Delaware
limited
liability company (collectively, “Landlord”) acting by and through Triple
Net Properties Realty, Inc. (“Agent” for
Landlord)
|
3.
|
“Tenant”: Collectively,
Texoga Technologies Corporation, a Texas
Corporation.
|
4.
|
“Sub-Lessor”: Collectively,
Biofuels Power Corporation, a Texas
Corporation.
|
5.
|
“Building”: Office
building commonly known as “Waterway Plaza One”’ Street Address: 00000
Xxxxxxxx Xxxxxx Xxxxx, Xxx Xxxxxxxxx, Xxxxx 00000; Rentable Square
Feet of
the Building: 223,516 square
feet.
|
6.
|
“Premises”: Suite
915, on the 9th
floor of the
building, as shown on the attached floor plan. Rentable Square
Footage of the Premises: 3,579 square
feet.
|
7.
|
“Term”: Ten
(10) years
|
8.
|
“Commencement
Date”: March 1,
2007
|
9.
|
“Base
Rent”: $9,387.88 per
month.
|
10.
|
“Contract”:
As applicable, all terms and conditions of the Lease Agreement
between
Triple Net Properties Realty, Inc. and the “Tenant” executed January 16,
2006 apply to this Sub-Lease.
|
11.
|
“NOTICE”:
|
XXXXXXXX’S
ADDRESS FOR NOTICE
NNN
Waterway
Plaza, LLC
c/o
Triple
Net Properties
0000
Xxxxx
Xxxxxx Xxxxxx, Xxxxx 000
Santa
Ana,
California 92705
Attn:
Legal
Department
TENANT’S
ADDRESS FOR NOTICE
Texoga
Technologies Corporation
00000
Xxxxxxxx Xxxxxx Xxxxx, Xxxxx 000
The
Woodlands, Texas 77380
Attn:
Xxxxxx
Xxxxx
SUB-LESSOR’S
ADDRESS FOR NOTICE
Biofuels
Power Corporation
00000
Xxxxxxxx Xxxxxx Xxxxx, Xxxxx 000
The
Woodlands, Texas 77380
Attn:
Xxxx
X’Xxxxxx
Special
Notice: This Lease contains Waivers and Indemnities which may
materially Affect Tenant and Sub-Lessor’s rights and remedies under Applicable
Law regarding this Lease, including “Express Negligence”
provisions.
SUB-LESSOR:
Biofuels
Power Corporation, a Texas Corporation
By:
|
/s/
XXXX X’XXXXXX
|
Name
|
Xxxx
X’Xxxxxx
|
Title
|
Chief
Executive Officer
|
Date
|
March
1, 2007
|
TENANT:
Texoga
Technologies Corporation, a Texas Corporation
By:
|
/s/
XXXXXX X. XxXXXXX
|
Name
|
Xxxxxx
X. XxXxxxx
|
Title
|
C.E.O.
|
Date
|
March
1, 2007
|