WATERWAY PLAZA ONE OFFICE – SUBLEASE
Exhibit
10.5
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:
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1.
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“Date
of Lease” (for reference purposes only): March 1,
2007.
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2.
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“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)
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3.
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“Tenant”: Collectively,
Texoga Technologies Corporation, a Texas
Corporation.
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4.
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“Sub-Lessor”: Collectively,
Biofuels Power Corporation, a Texas
Corporation.
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5.
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“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.
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6.
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“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.
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7.
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“Term”: Ten
(10) years
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8.
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“Commencement
Date”: March 1,
2007
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9.
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“Base
Rent”: $9,387.88 per
month.
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10.
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“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.
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11.
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“NOTICE”:
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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
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By:
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/s/
XXXX X’XXXXXX
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Name
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Xxxx
X’Xxxxxx
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Title
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Chief
Executive Officer
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Date
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March
1, 2007
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TENANT:
Texoga
Technologies Corporation, a Texas Corporation
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By:
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/s/
XXXXXX X. XxXXXXX
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Name
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Xxxxxx
X. XxXxxxx
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Title
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C.E.O.
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Date
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March
1, 2007
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