LEASE
Lease between MARBRAD, INC., a Florida corporation having an office c/o
Streamline Management Corp., 0000 Xxxxxxxxxx Xxxxxx, Xxxxx Xxxxx, Xxxxxxx
("Landlord") and the tenant described in Line 1 of the Terms Sheet attached
hereto as Exhibit A ("Tenant").
1. GRANT
Upon the terms and conditions set forth in this Lease, Landlord leases
to Tenant and Tenant leases from Landlord, the "Premises" described in
Line 2 of the Terms Sheet, which Premises are located in the
Intercontinental Bank Office Building, 930 Washington Avenue, Miami
Beach, Florida (the "Real Property"). The approximate boundaries of the
Premises are shown hatched in the schematic sketch attached to this
Lease as Exhibit "B".
2. TERM OF LEASE
The Term of this Lease shall be as set forth in Line 3 of the Terms
Sheet.
3. BASE RENT
As Base Rent, Tenant shall pay Landlord, at Landlord's address set
forth above, or at such other address specified in writing by Landlord,
the amount set forth in Line 4 of the Terms Sheet. Base Rent is payable
in advance, without setoff, further notice, or demand on the first day
of each calendar month. In addition to each monthly installment of Base
Rent, Tenant shall pay all applicable rental or sales taxes. If the
Commencement Date or the Expiration Date of the Term are on a day other
than the first day of a calendar month, the Base Rent for said
fractional month shall be prorated on a per diem basis. Payment of the
first month's installment of Base Rent is hereby acknowledged.
4. SECURITY DEPOSIT
As security for the full and prompt performance of all Tenant's
obligations under the Lease, concurrent with the execution of this
Lease, Tenant shall deposit with Landlord a Security Deposit in the
amount set forth in Line 5 of the Terms Sheet. If Tenant fails to make
any payments under this Lease when due, or fails to comply with each of
the terms, covenants, and conditions of this Lease, Landlord may, but
is not obligated to, apply the Security Deposit to the payments due or
to the payment of Landlord's costs and expenses (including reasonable
attorneys fees) in connection with performing Tenant Is obligations on
Tenant's behalf, regaining possession of the Premises, or reletting the
Premises, without
thereby curing Tenant's default or releasing Tenant from any of
Tenant's obligations under this Lease. Landlord may commingle the
Security Deposit with Landlord's other funds, and Landlord shall not be
required to pay Tenant any interest on the Security Deposit. If Tenant
fully and promptly performs all Tenant's obligations under this Lease,
within 30 days following the Expiration Date, Landlord shall return the
Security Deposit to Tenant at Tenant's address set forth in this Lease
or at such other address specified by Tenant in a notice to Landlord
received by Landlord before the Expiration Date.
5. PARKING
Tenant is hereby granted the exclusive use of the parking spaces set
forth in Line 6 of the Terms Sheet. Landlord reserves the right to
change the location of Tenant's designated parking spaces from time to
time so long as the number of spaces is not affected thereby. Tenant
acknowledges' that all other spaces in the parking facility serving the
Building are allocated for the exclusive use of other tenants of the
Building and that neither Tenant, nor Tenant's guests or invitees shall
use any spaces other then the ones set forth in Line 6 of the Terms
Sheet. Tenant further acknowledges that the parking facility is
patrolled by a towing company and cars parked in a space allocated to
another tenant may be towed.
6. USE
Tenant may use the Premises for general and administrative offices and
for no other purpose. Tenant shall not permit the Premises to be used
for any unlawful or immoral purpose. In the conduct of Tenant's
business, Tenant shall, at Tenant's expense, comply with all applicable
laws, ordinances, rules and regulations, the reasonable requirements of
all insurance underwriters providing insurance to ' the Premises and
the Building, and the Rules and Regulations attached to this Lease as
Exhibit "C", as they may be amended by Landlord from time to time.
Tenant shall not use the Premises in a manner that increases the fire
insurance premiums for the Building. Tenant shall not install safes,
heavy file cabinets, or other heavy equipment in the Premises without
Landlord's prior approval of the installation, location, and method of
installation. In the conduct of Tenant's business operations, Tenant
shall not make any noise or odor objectionable to other tenants, the
public, or Landlord, and Tenant shall not create or maintain a nuisance
in the Premises. Tenant shall not use, create, store or permit any
toxic or hazardous material anywhere on the Real Property. Tenant shall
keep the Premises free of debris, dangerous, noxious, or offensive
items, fire hazards, and undue vibration, heat or noise.
2
In Tenant's use of the Premises, Tenant shall not obstruct or permit
the obstruction of the sidewalks, driveways, entrances, passages,
lobby, corridors, stairs, or elevators of the Building. Tenant may not
move Tenant's furniture, equipment, supplies, or other persona property
or permit deliveries of such items through the Common Areas except at
such hours and upon such conditions as Landlord may reasonably require
from time to time. Tenant shall reimburse Landlord with 10 days after
Landlord's demand for any damage or injury to persons or property
resulting from Tenant's movement of such items or delivery to tenant of
such items through the Common Areas. Landlord may, as a condition for
granting permission to Tenant to move furniture and equipment through
the common areas of the Building, require a damage deposit from Tenant.
7. UTILITIES AND SERVICES
Landlord shall furnish the following utilities and services to the
Building and the Premises as reasonably required in connection with
Tenant's use of the Premises, Monday through Friday, during business
hours (8:00 a.m. to 6:00 p.m.) except on federal bank holidays:
(a) janitorial services (during non-business hours Monday through
Friday), except that shampooing and replacement of carpet as
required by Tenant shall be at Tenant's expenses;
(b) Periodic trash removal;
(c) Elevator service in common with other tenants;
(d) Air conditioning is provided on Monday through Friday from 8:00
a.m. to 6:00 p.m. and on Saturday from 8:00 a.m. to 1:00 p.m.,
except on Memorial Day, Fourth of July, Labor Day, Thanksgiving
Day, Christmas Day and New Year's Day.
(e) Electricity for standard lights, air-conditioning, and standard
office equipment. Electricity for extraordinary office
equipment and additional air-conditioning required in
connection with computers or other extraordinary office
equipment shall be separately metered and shall be available to
Tenant only with Landlord's prior written approval;
(f) Water for drinking, ordinary lavatory purposes, and the fire
sprinkler system (if applicable);
(g) Common use restrooms on each floor of the Building, including
maintenance, periodic cleaning, and supplies.
3
Landlord is not responsible to Tenant for any interruption in utility
and other services unless caused by Landlord's negligence or willful
misconduct.
Should Tenant desire utilities or services to be provided by Landlord
at times other than those times set forth in this Lease, Landlord may,
but is not obligated to, furnish such additional utilities or services
as are requested by Tenant. In a written notice to Landlord at least 48
hours before Tenant requires the utilities or services. Tenant shall
pay Landlord, within 10 days after Landlord's demand, for all
Landlord's costs in providing such additional utilities or services.
8. TENANT'S APPURTENANT RIGHTS
During the Term, Landlord grants Tenant a non-exclusive right to use
the Common Assets, including the right of ingress and egress to the
Premises. This right may be exercised by Tenant, its agents, employees,
independent contractors, invitees, and customers, subject to similar
rights granted from time to time to other parties, and subject to the
Rules and Regulations attached to this Lease as Exhibit "C", as they
may be amended by Landlord from time to time.
9. LANDLORD'S RIGHT OF ACCESS
Landlord, and other authorized by Landlord, may enter the Premises at
reasonable times and upon reasonable prior verbal or written notice to
Tenant for those purposes reasonably related to Landlord's ownership
and operation of the Building, including inspection, maintenance and
repair, emergencies, and showing the Premises to prospective tenants or
purchasers.
10. MAINTENANCE, REPAIR AND REPLACEMENT
Tenant shall, at Tenant's sole expense, keep the interior of the
Premises in good condition and repair. Tenant shall promptly repair any
injury or damage to the Building, the parking facility serving the
Building, or the Real Property caused by Tenant's unauthorized use of
the Premises or by the fault or neglect of Tenant, Tenant's employees,
customers, invitees, and others permitted on the Premises by Tenant's
employees, customer, invitees, and others permitted on the Premises by
Tenant. If Tenant does not promptly and adequately perform its
obligations under this paragraph after written notice from Landlord
specifying the nature of Tenant's failure, in addition to any other
remedy Landlord may have under this Lease or pursuant to law, Landlord
may perform Tenant's obligations on Tenant's behalf and Tenant shall,
upon demand, reimburse Landlord for the reasonable costs and expenses
so incurred. Landlord shall maintain and repair all
4
other elements of the Building, the parking facility serving the
Building, and the Real Property, including plumbing, lighting, HVAC
service, plate glass,k and structural components.
All repairs, maintenance, and replacements by Landlord and Tenant shall
be performed in a good and workmanlike manner, in compliance with all
applicable governmental laws, regulations, ordinances, rules, and
codes, and shall incorporate materials and techniques equal to or
exceeding the quality of the items repaired, maintained, replaced.
11. CONDITION OF PREMISES
Tenant acknowledges that Tenant has inspected the Premises and that the
Premises are suitable for Tenant's use. Tenant accepts the Premises in
"as-is" condition. Tenant acknowledges that no work needs to be
performed by Landlord to prepare the Premises for Tenant's occupancy.
Landlord makes no warranties or representations as to the condition of
the Premises or their suitability for Tenant's use.
12. NO LEASEHOLD IMPROVEMENTS
Tenant shall not make any alterations, additions, or improvements
within, or to the Premises, without first obtaining Landlord's approval
in writing, which approval may be denied for any reason whatsoever.
13. TENANT'S INSURANCE
From the date Landlord grants Tenant access to the Premises and during
the Term, Tenant shall at Tenant's sole expense, maintain comprehensive
general liability insurance with a combined single limit coverage of
not less than $500,000.00, with a reputable insurance underwriter
reasonably acceptable to Landlord. The comprehensive policy shall name
Landlord and Landlord's agent as an additional insured and provide that
Landlord's right to insurance proceeds shall not be subject to
invalidation by reason of Tenant's acts or omissions. All insurance
policies shall include a provision that the coverage may not be reduced
or cancelled without 30 days prior written notice to Landlord.
14. WAIVER OF SUBROGATION
To the extent that any loss suffered by Tenant is covered by insurance,
Tenant waives all claims it may have against Landlord, and, to the
extent possible without voiding the insurance coverage, each insurance
policy obtained by Tenant concerning the Premises and the Building
shall include a waiver of subrogation endorsement.
5
15. TENANT'S INDEMNIFICATION
Tenant shall indemnify, defend Landlord from, and hold Landlord
harmless against any claim, suit, liability, loss, damage, cost, and
expense in connection with any construction work, additions,
alterations, or improvements by Tenant in or about the Premises, or in
connection with loss of life, personal injury, or damage to property
arising from Tenant's use or occupancy of the Premises, but not to the
extent caused by the willful misconduct of Landlord, its agents or
employees. This indemnity applies to Tenant's use and occupancy of the
Premises prior to the Commencement Date and throughout the Term and
shall survive the termination of this Lease.
16. LANDLORD'S EXCULPATION AND TENANT'S ATTORNMENT
If Landlord defaults under this Lease, Tenant agrees to look solely to
the Landlord's interest in the Building and the Real Property, and
neither Landlord nor any of its partners, officers, directors or
shareholders shall have any personal liability to Tenant for Landlord's
defaults under this Lease or for the breach of any representation,
warranty, covenant or agreement. Any judgments entered against Landlord
based upon Landlord's default under this Lease shall be satisfied
solely from the proceeds of the sale of Landlord's interest in the
Building and the Real Property. If Landlord sells the Building,
Landlord shall be released from any future obligation or liability to
Tenant under this Lease.
17. DAMAGE BY FIRE AND OTHER CASUALTY
Tenant shall give Landlord prompt notice of any damage to the Premises
by fire or casualty. If the Building is partially or totally destroyed
Landlord may, at its option, terminate this Lease as of the date of the
casualty, and all periodic payments required of Tenant under this Lease
shall be equitably adjusted.
18. CONDEMNATION
If the Building and the Real Property are taken by the power of eminent
domain (or conveyed to the condemning authority under threat of
condemnation), this Lease shall terminate on the date the condemning
authority takes possession, and all periodic payments made by Tenant
under this Lease shall be equitably adjusted.
If a portion of the Building or Real Property is taken by the power of
eminent domain (or conveyed to the condemning authority under threat of
condemnation), at Landlord's option exercised on or before the date the
condemning authority takes
6
possession, this Lease shall terminate effective as of the date the
condemning authority takes possession. If Landlord does not exercise
its option to terminate this Lease, to the extent possible following
the taking, Landlord shall repair and restore those portions of the
Premises and the Building originally provided by Landlord, and Tenant
shall repair and restore all other portions of the Premises.
During the period of Landlord's repair and restoration of the Premises,
all Base Rent and Adjusted Rent shall xxxxx in an amount bearing the
same ratio to the Base Rent and Adjusted Rent otherwise due for such
period as the untenantable portion of the Premises from time to time
bears to the entire Premises. All periodic payments required of Tenant
under this Lease shall be equitably adjusted as of the date the
condemning authority takes possession to reflect any permanent
reduction in the usable portion of the Premises.
Tenant waives Tenant's right to all proceeds of condemnation (or of
conveyance to the condemning authority under threat of condemnation)
representing the value of Tenant's leasehold interest or of the
leasehold improvements in the Premises. Nothing in this paragraph,
however, shall prevent Tenant from pursuing a separate claim for
business damages or moving expenses against the condemning authority,
so long as the award or proceeds paid to Tenant does not reduce the
award or proceeds otherwise payable to Landlord.
19. SURRENDER
On the Expiration Date (or sooner termination of the Term) Tenant shall
remove all Tenant's personal property and trade fixtures from the
Premises, and Tenant shall surrender possession of the Premises to
Landlord in as good condition, as existed when Tenant took possession,
reasonable wear and tear and insured casualty damages excepted. All
personal property or trade fixtures not removed by Tenant shall, upon
the Expiration Date (or sooner termination of the Term) become
Landlord's property, and Landlord may, at its option, either retain the
personal property and trade fixtures or dispose of all or any portion
of them at Tenant's expense. Tenant shall reimburse Landlord upon
demand for all Landlord's expenses incurred in connection with
disposing of Tenant's personal property and trade fixtures. This
obligation shall survive the expiration or termination of this Lease.
If this Lease terminates as a result of an insured casualty, Tenant is
not obliged to repair and restore the Premises, but Landlord is
entitled to a portion of the proceeds from Tenant's insurance
sufficient to reimburse Landlord for the reasonable cost of returning
the interior to the Premises to the condition existing immediately
before the casualty.
7
20. DEFAULT
Time is of the essence with regard to the performance of the Tenant s
obligations under this Lease. Any of the following constitutes a
Default of this Lease by Tenant:
(a) Failure to pay any periodic payment of Base Rent or any other
payment required of Tenant under this Lease within 5 days after
any such payment is due.
Tenant shall pay Landlord interest at the rate of 18% simple
interest per year on all periodic payments due under this Lease
that are not made on the date when due, from the date when due
until paid in full. All partial payments of past due amounts
shall be applied first to interest accrued, then to past due
installments of Base Rent.
(b) Failure to cure any other default of Tenant s obligations under
this Lease for a period of 15 days after notice specifying the
nature of the default.
(c) Abandonment of the Premises.
(d) Tenant files a voluntary petition in bankruptcy or is
adjudicated insolvent or a bankrupt, or makes an assignment for
the benefit of creditors, or files a petition for relief under
any applicable bankruptcy law, or consents to the appointment
of a trustee or receiver of all or any substantial part of its
property.
(e) An involuntary petition under any applicable bankruptcy law is
filed against Tenant and is not vacated within 60 days.
21. LANDLORD'S REMEDIES
Upon Tenant's default and the expiration or any applicable grace
period, Landlord may, at Landlord's option take any one or more of the
following actions without further notice or demand;
(a) Declare all Base Rent or Adjusted Rent for the entire remaining
portion of the Term immediately due and payable.
(b) Bring an action against Tenant to collect all Base Rent or
other sums due and owing the Landlord, or to enforce any other
term or provision of this Lease.
8
(c) Terminate this Lease by three days' written notice to Tenant.
In the event of termination, Tenant agrees to immediately
surrender possession of the Premises. If Landlord terminates
this Lease, Landlord may recover from Tenant all damages
Landlord incurs by reason of Tenant's default, including
damages equal to the present value of the difference between
the Base Rent and Adjusted Rent due for the remainder of the
term and the market value rent rate for the remainder of the
term, and all Landlord's costs and expenses (including
reasonable attorneys' fees).
(d) Landlord may pay or perform, or cause to be paid or performed,
any obligation of Tenant under this Lease, for Tenant's
account, and Tenant shall promptly reimburse Landlord, upon
demand, for all Landlord's costs and expenses (including
reasonable attorneys' fees) so incurred.
(e) Relet the Premises for Tenant's account without terminating
this Lease. All sums received by Landlord's from reletting
shall be applied first to Landlord's reasonable costs and
expenses incurred in relation (including, without limitation,
reasonable attorneys' fees, advertising costs, brokerage
commissions, and alterations, improvements, and repairs to the
Premises), then to the payment of all sums due under this
Lease. Upon Landlord's demand, Tenant shall pay any deficiency
to Landlord as it arises.
Landlord's remedies in this paragraph are cumulative and in addition to
any other remedies available at law or in equity.
22. ATTORNEYS' FEES
In any legal action (including appellate proceedings) filed with
respect to this Lease, the prevailing party shall receive reimbursement
from the other party of its costs and expenses (including reasonable
attorneys' fees awarded by a court of competent jurisdiction).
23. ASSIGNMENT AND SUBLETTING
Tenant shall not assign Lease or encumber or sublet the Premises
without Landlord's prior written consent.
24. SUBORDINATION
Tenant's right, title, and interest in the Premises shall be subject
and subordinate to any present or future lease of the entire Building
or to the lien of any mortgage now or hereafter encumbering the
Premises, the Building, or the Real
9
Property. Although no further act by Tenant is necessary to effectuate
Tenant's subordination, Tenant shall, upon Landlord's request, execute,
acknowledge, and deliver to Landlord all documents Landlord may
reasonably require confirming Tenant's subordination of its interest in
the Premises to the interest of any holder of a mortgage encumbering
the Premises, the Building, or the Real Property.
25. TENANT ESTOPPEL CERTIFICATE
Tenant shall, upon Landlord's request, execute, acknowledge, and
deliver to Landlord, a written statement certifying that this Lease is
in full force and effect, that it is unmodified (or specifying the
modifications), specifying the date through which all periodic payments
required under this Lease have been paid, and specifying any defaults
of this Lease to the Tenant.
26. HOLD OVER
If Tenant holds over after the expiration of this Lease, Landlord shall
be entitled to collect rent at a rate equal to twice the Base Rent or
Adjusted Rent in effect on the Expiration Date.
27. QUIET ENJOYMENT
Landlord covenants that, if Tenant pays all sums required under this
Lease and performs all the terms, covenants, and conditions required of
Tenant under this Lease, Tenant may peaceably and quietly have, hold,
and enjoy the Premises during the Term, subject to:
(a) The claims or all persons arising other than by, through, or
under Landlord,
(b) the rights of all existing and future ground leases or lessees
of the entire Building, and
(c) all existing and future lenders holding mortgages encumbering
the Premises, the Building, or the Real Property.
28. NOTICES
All notices given in connection with this Lease shall be in writing,
and shall be considered delivered when mailed by United States
certified mail, return receipt requested, postage prepaid, if to
Landlord, at the address set forth in the preamble of this Lease and if
to Tenant, at the Premises.
10
Either Landlord or Tenant may change the address for notices by giving
proper notice of the new address to the other party.
29. BENEFITS AND BURDENS
The provisions of this Lease bind, and are for the benefit of the
Landlord, the Tenant, and their respective successors and assigns.
30. BROKER S FEES
Tenant warrants to Landlord that no broker other than the one set forth
on Line 7 of the Terms Sheet was a procuring cause of this Lease.
Tenant shall indemnify, defend, and hold Landlord harmless from all
claims, losses, suits, damages, costs, and expenses (including
attorneys fees) that Landlord may suffer in connection with an
assertion by a broker or other finding agent (other than the broker
specified on Line 7 of the Terms Sheet) that he or she assisted or
otherwise dealt with Tenant with respect to the negotiation or
execution of this Lease.
31. MECHANICS LIENS
Tenant is not required or obliged under this Lease to make alterations
or improvements to the Premises, and nothing in this Lease shall be
construed as a consent by Landlord to subject Landlord's reversionary
interest in the Premises to liability under the Florida Mechanics' Lien
Law. If, as a result of the installation of any improvements by Tenant
on the Premises, or Tenant's maintenance and repair of the Premises, a
claim of lien is filed against the Premises, the Building or the Real
Property, within ten (10) days after it is filed, Tenant shall either
satisfy the claim of lien or transfer it to a bond as permitted by
Chapter 713 of the Florida Statutes. If Tenant fails to do so within
the ten (10) day period, Landlord may transfer the lien to a bond as
permitted by Chapter 713 of the Florida Statutes, and Tenant shall
reimburse Landlord for all Landlord's costs and expenses (including
reasonable attorneys fees) incurred in connection therewith.
32. ALL PAYMENTS CONSTITUTE RENT
All payments required of Tenant under this Lease constitute "rent" and
are due without setoff or deduction in legal United States tender, at
the times and at the addresses specified in this Lease, or so otherwise
specified from time to time by Landlord, together with all sales taxes
or similar taxes imposed by the State of Florida upon or with respect
to rent.
11
33. ENTIRE AGREEMENT
This Lease and the attached exhibits, addendums, and riders (if any)
constitute the entire agreement between the parties. No subsequent
alteration, amendment, or addition to this Lease will bind the Landlord
or the Tenant unless it is in writing and signed by the party to be
bound.
34. COUNTERPARTS
This Lease may be executed in two or more identical counterparts, each
of which shall be treated as an original.
12
"RADON GAS: Radon is a naturally occurring radioactive gas that when it has
accumulated in a building in sufficient quantities may present health risks to
persons who are exposed to it over time. Levels of radon that exceed federal and
state guidelines have been found in buildings in Florida. Additional information
regarding radon and radon testing may be obtained from your county public health
unit."
13
EXHIBIT "C"
RULES AND REGULATIONS
1. Lessee will refer all contractors, contractors' representatives and
installation technicians rendering any service for Lessee to Lessor for
Lessors' supervision and approval before performance of any such
contractual services. This shall apply to all work performed in the
building including, but not limited to, installation of telephones,
telegraph equipment, electrical devices and attachments, and
installations of any and every nature affecting floors, walls,
woodwork, trim, windows, ceilings, equipment or any other physical
portion of the building. None of this work will be done by Lessee
without Lessor's written approval first had and obtained.
2. The work of the janitor or cleaning personnel shall not be hindered by
Lessee after 5:30 p.m., and such work may be done at any time when the
offices are vacant. The windows, doors, and fixtures may be cleaned at
any time. Lessee shall provide adequate waste and rubbish receptacles,
cabinets, book cases, map cases, etc. necessary to prevent unreasonable
hardship to Lessor in discharging its obligation regarding cleaning
service.
3. Movement in or out or flee building or furniture or office equipment,
or dispatch or receipt by Lessee of any merchandise which requires the
use of elevators or stairways, or movement through the building
entrances or lobby shall be restricted to the hours designated by
Lessor from time to time. All such movement shall be as directed by
Lessor and in a manner to be agreed upon between Lessee and Lessor by
prearrangement before performance. Such prearrangement initiated by
Lessee shall include termination by Lessor, and subject to its decision
and control of the time, method, and routing of movement, limitations
imposed by safety or other concerns which may prohibit any article,
equipment or any other item from being brought into the building.
Lessee expressly assumes all risk of damage to any and all articles so
moved, as well as injury to any person or persons or to the public
engaged or not engaged in such movement, including equipment, property,
and personnel of Lessor if damaged or injured as a result of any acts
in connection with carrying out this service for Lessee from the time
of entering property to completion of the work; and Lessor shall not be
liable for the act or acts of any person or persons so engaged in, or
any damage or loss to any property of persons resulting directly or
indirectly from any act in connection with such service performed by or
for Lessee.
14
4. No sign or signs will be allowed in any form on the exterior of
building or on any window or windows inside or outside of the building
and no sign or signs, except in uniform location and uniform style
fixed by Lessor, will be permitted in the public corridors or on
corridor doors or entrance to Lessee's space. All signs will be
contracted for by Lessor or Lessee at the rate fixed by Lessor from
time to time, and Lessee will be billed and pay for such service
accordingly. Written consent from Lessor is an absolute prerequisite
for any such sign or signs any Lessee may be so permitted to use.
5. Nothing shall be placed on the outside of the building or on the
windows, window xxxxx or projections.
6. Lessee shall not place, install or operate on the demised premises or
in any part of the building, any engine, stove, or machinery, or
conduct mechanical operations or xxxx thereon or therein, or place, use
in, or about the demised premises any explosives, gasoline, kerosene,
oil, acids, caustics, or any other inflammable, explosive or hazardous
material without the written consent of Lessor first had and obtained.
7. Lessor will not be responsible for any lost or stolen personal
property, equipment, money or jewelry from the leased premises, the
building or the parking area regardless of whether such loss occurs
when the area is locked against entry or not.
8. No birds, animals bicycles or vehicle shall be brought into or kept in
or about the building.
9. Lessor may permit entrance to Lessee's offices by use of pass keys
controlled by Lessor or employees, contractors, or service personnel,
supervised or employed by Lessor.
10. None of the entries, passages, doors, elevators, elevator doors,
hallways, or stairways shall be blocked or obstructed, or any rubbish,
litter, trash, or material of any nature placed, emptied or thrown into
these areas, nor shall such areas be used at any time for access or
egress by Lessee, Lessee's agents, employees or invitees.
11. Lessor shall have the right to determine and prescribe the weight and
proper position of any unusually heavy equipment including safes, large
files, etc., that are to be placed in the building, and only those
which in the opinion of Lessor will not do damage to the floors,
structure or elevators may be moved into said building. Any damage
occasioned in connection with the moving or installing of such
aforementioned articles in the buildings or the existence of same in
the building shall be paid for by Lessee.
15
12. No additional locks shall be placed on any door or changes be made to
existing locks in Building without proper written consent of Lessor.
Lessor will furnish two keys to each lock on doors in the Leased
Premises and Lessor, upon the request of Lessee, shall provide
additional duplicate keys at Lessee's expense. Lessor may at all times
keep a pass key to the Leased Premises. All keys shall be returned to
Lessor promptly upon termination of this Lease.
13. Lessee, its officers, agents, servants and employees shall, before
leaving Leased Premises unattended, close and lock all doors and shut
off all utilities; damage resulting from failure lo do so shall be paid
by Lessee.
14. Lessee, its employees, agents or invitees shall not use Leased Premises
for lodging, sleeping or cooking of food without the prior written
consent of Lessor.
15. The plumbing/ballroom facilities shall not be used for any other
purpose than that for which they are constructed, and no foreign
substance of any kind shall be thrown therein, and the expense of any
breakage, stoppage, or damage resulting from a violation of this
provision shall be borne by Lessee, who shall, or whose officers,
employees, agents, servants, patrons, customers, licensees, visitors or
invitees shall have caused it.
16. Canvassing, soliciting and peddling in the building or parking
facilities is prohibited and each Lessee shall cooperate to prevent the
same. In this respect, Lessee shall promptly report such activities to
the Building Manager's office.
THE ABOVE RULES, HEREBY ACCEPTED BY LESSEE, ARE PRESCRIBED BY LESSOR TO ENABLE
LESSOR TO MAINTAIN HIGH STANDARDS OF ENVIRONMENT, COMFORT AND CONVENIENCE FOR
ITS LESSEES. IT WILL BE APPRECIATED IF ANY UNDESIRABLE CONDITIONS OR LACK OF
COURTESY OR ATTENTION BY ITS EMPLOYEES OR CONTRACTORS IS REPORTED DIRECTLY TO
LESSOR.
16
EXHIBIT A - TERMS SHEET
This Terms Sheet is attached to and is a part of that certain lease between
MARBRAD, INC. and the tenant described below.
1. TENANT: Consolidated Entertainment, Inc.
000 Xxxxxxxxxx Xxxxxx
Xxxxx Xxxxx, Xxxxxxx 00000
2. LEASED PREMISES: The entire fifth (5th) floor.
3. TERM: Five (5) years beginning July 1, 1996 (the
"Commencement Date") and ending June 30, 2001
(tine Expiration Date").
4. BASE RENT: 07/01/96 - 06/30/97 $3,250/mo plus sales tax
07/01/97 - 06/30/98 $3,400/mo plus sales tax
07/01/98 - 06/30/99 $3,600/mo plus sales tax
07/01/99 - 06/30/00 $3,800/mo plus sales tax
07/01/00 - 06/30/01 $4,000/mo plus sales tax
5. SECURITY DEPOSIT: None
6. ASSIGNED PARKING: Spaces 1, 2, 3 and 4 in the main parking lot.
Spaces 12-15 in annex parking lot at 000
Xxxxxxxxxxxx Xxx.
7. BROKER: None
8. Wherever the phrase "Base Rent" is used in the Lease, the phrase "Gross
Rent" shall be deemed substituted therefor.
9. Modifying Section 5 of the Lease:
During the term of this Lease, no charge will be passed through to
Tenant for parking.
10. Modifying Section 7 of the Lease:
Section 7(b) is hereby deemed deleted. The words "including trash
removal" are added to Section 7(a) after the words "Janitorial
services".
The hours during which air conditioning shall be provided, at no
additional cost to Tenant, are changed as follows: Monday through Friday
8:00 AM to 8:00 PM and on Saturday none.
11. Modifying Section 12 of the Lease:
The words "may be denied for any reason whatsoever" shall be deemed
deleted and the words "shall not be unreasonably withheld" shall be
substituted therefor.
12. Modifying Section 17 of the Lease:
If Tenant's means of ingress or egress to the Premises is eliminated by
fire or casualty or if more than twenty (20%) percent of the Premises is
damaged by fire or casualty, then Tenant shall have the option to cancel
this lease by notice to Landlord given within thirty (30) days of the
occurrence of the casualty, such cancellation effective upon the giving
of said notice.
17
13. Modifying Section 18 of the Lease:
The following words in the last sentence of the second paragraph shall
be deemed deleted "and Tenant shall repair and restore all other
portions of the Premises".
14. Modifying Section 20 of the Lease:
(a) The five (5) day period set forth in clause (a) shall be
increased to ten (10) days.
(b) The late charge shall only be imposed if the rent is not paid
prior to the expiration of the ten (10) day grace period.
(c) The fifteen (15) day period set forth in clause (b) shall be
increased to thirty (30) days.
15. Modifying Section 23 of the Lease:
Landlord shall not unreasonably withhold its consent to an assignment of
the Lease or a subletting of the Premises.
16. Modifying Section 26 of the Lease:
The holdover rent shall be reduced from twice the Gross Rent to one and
one-half times the Gross Rent.
17. Modifying Rule and Regulation Number 12:
Tenant is hereby granted permission by Landlord to install its own
burglar alarm system.
IN WITNESS WHEREOF, Landlord and Tenant have _______ to be executed as
of July 1, 1996.
LANDLORD:
MARBRAD, INC.
By:_____________________________
Xxxx Xxxxxxxx, President
TENANT:
CONSOLIDATED ENTERTAINMENT, INC.
By:_____________________________
Xxxx Xxxxxxxx, President
18
