Exhibit 10.7
This Agreement of Lease made as of the 1st day of August, 2000, by and between
Xxxxx Hotel Company, LLC, a Limited Liability Company, with offices at 00 Xxxx
00xx Xxxxxx, Xxx Xxxx, Xxx Xxxx, 00000, hereinafter referred to as the
"Landlord" and Molecular Radiation Management Inc., a New York Corporation, with
offices at 000 Xxxxxxx Xxxxxx, Xxxxxx Xxxx, XX 00000, hereinafter referred to as
the "Tenant."
ARTICLE I
1.01 Landlord hereby leases to Tenant a portion of the second floor, known as
Xxxx 000, comprising of 1,700 square feet (the "Demised Premises") of the
building known as 000 Xxxxxxx Xxxxxx, Xxxxxx Xxxx, Xxx Xxxx 00000 (the
"Building").
1.02 The Demised Premises represents 10% of the Building ("Tenant's
Proportionate Share").
ARTICLE II
2.01 The term of this Lease shall be for a period of two (2) years eight (8)
months. The term of this lease shall commence upon the 1st day of
September, 2000 ("Commencement Date") and will expire on the 30th day of
April, 2003.
ARTICLE III
3.01 Tenant shall pay to the Landlord basic rent on the first day of each and
every month the sum of $56,100.00 per annum ($4,675.00 per month)
commencing upon the Commencement Date, ("Rent Commencement Date") and
continuing throughout the term of this Lease.
3.02 Rent and Additional Rent shall be payable to Xxxxx Hotel Associates, LLC
and sent to the offices of the Landlord, located at 00 Xxxx 00xx Xxxxxx,
Xxx Xxxx, Xxx Xxxx 00000, or at such other place as the Landlord may from
time to time designate, in advance, without notice, demand, offset or
deduction except as specifically set forth herein.
3.03 In the event any payment of Basic Annual Rent shall not be made to
Landlord on or before the tenth (10th) day of the month or any payment of
Additional Rent shall not be made to Landlord within ten (10) days of the
due date thereof there shall be added a Late Fee in the sum equal to six
percent (6%) of the unpaid items.
ARTICLE IV
4.01 The Demised Premises shall be used only for health care and executive
offices.
4.02 Tenant shall not at any time use or occupy, or suffer or permit anyone to
use or occupy the Demised Premises, or do or permit anything to be done in
the Demised Premises, in violation of the Certificate of Occupancy.
ARTICLE V
5.01 The Landlord shall deliver the Demised Premises to the Tenant in "AS IS"
condition.
ARTICLE VI
6.01 Tenant agrees that all trash, garbage and waste, shall be removed from the
Real Property by Tenant, at Tenant's own cost and expense.
6.02 Tenant agrees that the Tenant shall contract separately with the utility
company for the electricity, gas and/or water (if any) utilized in the
Demised Premises. Landlord shall not be liable for any interruption,
curtailment or stoppage of any such services to the Demised Premises.
ARTICLE VII
7.01 Tenant agrees that it shall make all non-structural repairs within the
Demised Premises at Tenant's sole cost and expense, unless said repairs
were due to any negligent act of the Landlord, its agents, servants or
employees, in which event Landlord shall be responsible for the cost of
said repairs.
7.02 Landlord shall make all repairs to the common areas of the property and
structural repairs to the roof, foundation, steel and other structural
members, of the building at Landlord's sole cost and expense, unless said
repairs were due to any negligent act of the Tenant, its agents, servants,
employees or invitees, in which event Landlord shall make such repair and
Tenant shall pay the reasonable cost thereof within ten days of rendering
a xxxx and collected as additional rent.
7.03 Tenant, at Tenant's sole cost and expense, shall be responsible for the
maintenance, repair and/or replacement of the HVAC unit supplying the
Demised Premises. Landlord shall not be liable for any interruption,
curtailment or stoppage of any such services to the Demised Premises.
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IN WITNESS THEREOF, the parties have hereunto set their hands and seals the day
and year first above written.
XXXXX HOTEL ASSOCIATES, LLC
BY: /s/ illegible
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LANDLORD
MOLECULAR RADIATION MANAGEMENT INC.
BY: /s/ Xxxx Xxxxxxxxxxxx, Pres.
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TENANT
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