EXHIBIT 10
LEASE EXTENSION AND MODIFICATION AGREEMENT
THIS AGREEMENT, entered into as of this 4th day of June, 2004, by and
between CHASCO COMPANY LLC, a New York limited liability company, having its
principal office and place of business located at Xxx Xxxxxxx Xxxxx, Xxxxxxx, XX
00000 (hereinafter referred to as "Landlord") and AMERICAN CLAIMS EVALUATION,
INC., a New York corporation, having an office and place of business located at
Xxx Xxxxxxx Xxxxx, Xxxxxxx, XX 00000 (hereinafter referred to as "Tenant").
W I T N E S S E T H:
WHEREAS, Landlord and Tenant entered into a certain lease dated August
20, 1993, as amended, (hereinafter referred to as the "Lease") for two thousand
seven hundred four (2,704) rentable square feet of office space on the third
floor (Wing B) (the "Demised Premises") in the building (the "Building") known
as One Jericho Plaza, Jericho, New York.
WHEREAS, Tenant has requested that Landlord agree to extend the term of
the Lease from July 1, 2004 to September 30, 2004 (the "Extension Term"), and
Landlord, subject to the terms and conditions hereinafter set forth, is willing
to so extend the term of the Lease on the Demised Premises.
NOW, THEREFORE, for Ten and no/100 ($10.00) Dollars and other good and
valuable consideration, receipt whereof by each party is hereby acknowledged,
the parties hereto agree as follows:
1. The term of the Lease, as hereby amended, shall, subject to the
terms and conditions set forth herein and upon the same terms, provisions,
covenants and conditions as contained in the Lease, be extended to expire on
September 30, 2004, unless sooner terminated as provided in the Lease.
2. The Basic Rent for the Demised Premises for the Extension Term shall
be Twenty Two Thousand Five Hundred Thirty Three and 36/100 ($22,533.36) Dollars
payable in equal monthly installments of Five Thousand Six Hundred Thirty Three
and 34/100 ($5,633.34) Dollars on the first day of each month in advance.
3. Nothing herein contained shall relieve or release Tenant from its
obligation, on demand of Landlord, to promptly pay any installment of Basic Rent
or item of additional rent or other charges allocable to any period, or arising
or accruing, prior to July 1, 2004 that Landlord did not xxxx to Tenant or
Tenant did not pay to Landlord.
4. Except as amended herein, all the terms and conditions of the Lease,
as heretofore in effect, shall remain in full force and effect and all the terms
and conditions of the Lease, as hereby amended, are hereby ratified and
confirmed in all respects.
5. Tenant hereby warrants and represents to Landlord that it dealt with
no broker in connection with this transaction and had no conversation or
dealings with any broker in connection with this transaction. Tenant hereby
indemnifies Landlord against all loss, costs or damages suffered or incurred by
Landlord (including, without limitation, reasonable attorney's fees and
expenses) arising out of or in any way connected with a misrepresentation by
Tenant hereunder.
6. Tenant hereby acknowledges and agrees that (i) Landlord has no
obligation to do any work in the Demised Premises to make it usable by Tenant
and Tenant reconfirms its acceptance of the Demised Premises for the Extension
Term in an "as is" condition and (ii) the provisions of the Lease relative to
Tenant's obligation to pay for electricity and overtime HVAC services shall
continue on the basis set forth in the Lease to the same extent and as if the
Extension Term had been included in the original demise of the Demised Premises.
7. Where the context so requires, the plural shall include the singular
and the singular shall include the plural. The terms and definitions used herein
shall, unless specifically noted otherwise, have the same meanings and
definitions used in the Lease, as hereby amended.
8. Tenant hereby confirms and certifies to Landlord that as of the date
hereof (i) there are no existing claims, setoffs or defenses against Landlord or
against the enforcement by Landlord of any of the agreement, terms, covenants,
or conditions of the Lease, upon the part of Tenant to be performed or complied
with (ii) Tenant is not in default (and no event or condition exists that after
the giving of notice and the passage of time or both, would constitute a
default) under the Lease, and (iii) Landlord has complied with all of its
obligations, as landlord under the Lease and the Lease is in full force and
effect and enforceable in accordance with its terms.
9. This Agreement may not be amended or terminated nor any of its
provisions waived except by an agreement in writing signed by the party to be
charged.
10. The submission of this Agreement to Tenant shall not be construed
as an offer, nor shall Tenant have any rights with respect thereto, unless and
until Landlord shall execute a copy of this Agreement and deliver the same to
Tenant.
IN WITNESS WHEREOF, the parties hereto have, or have caused to be,
executed this Agreement as of the day and year first set forth above.
LANDLORD:
CHASCO COMPANY LLC
By: /s/ Xxxxxx X. Xxxxxxxxx
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Name: Xxxxxx X. Xxxxxxxxx
Title: Member
TENANT:
AMERICAN CLAIMS EVALUATION, INC.
By: /s/ Xxxx Xxxxxx
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Name: Xxxx Xxxxxx
Title: Chairman
