COMMERCIAL LEASE AGREEMENT
Exhibit
10.5
THIS
LEASE, made this 6th day
of
June 2006, by and between:
Morlake
Executive Suites and/or Assigns
("Landlord")
whose address is
000
Xxxxxxx Xxxxx, Xxxxx 000, Xxxxxxxxxxx, XX 00000
And
EnviroSystems,
Inc.
("Tenant")
whose address is
0000
Xxxxx Xxxxx, Xxxxx 00, Xxxxx Xxxxx, XX 00000
WITNESSETH:
PREMISES
1.
Landlord, for and in consideration of the rents, covenants, agreements, and
stipulations hereinafter mentioned, provided for and covenanted to be paid,
kept
and performed by Tenant, leases and rents unto Tenant, and Tenant hereby leases
and takes upon the terms and conditions which hereinafter appear, the following
described property (hereinafter called the Premises), to wit:
Address:
000
Xxxxxxx Xxxxx, Xxxxx 000 xxx 000, Xxxxxxxxxxx, XX 00000
Legal
Description:
000
Xxxxxxx Xxxxx, Xxxxx 000 xxx 000, Xxxxxxxxxxx, XX 00000
(See
attached Exhibit A for legal description of premises and detail of approved
build-out)
TERM
2. The
Tenant shall have and hold the Premises for a term of 2 years beginning on
the
15th
day of
August 2006,
and
ending on the 31st
day of
July 2008 at midnight, unless sooner terminated as hereinafter provided. The
first Lease Year Anniversary shall be the date twelve (12) calendar months
after
the first day of the first full month of the term hereof and successive Lease
Year Anniversaries shall be the date twelve (12) calendar months from the
previous Lease Year Anniversary.
At
the
end of the initial term, Tenant shall have an option for an additional 2 year
term.
RENTAL
3.
Tenant
agrees to pay Landlord or its Agent without demand, deduction or set off, an
annual rental of $78,000 payable in equal monthly installments of $6,500 in
advance on the first day of each calendar month during the term hereof. Upon
execution of this Lease, Tenant shall pay to Landlord the first month's rent
due
hereunder. Occupancy for any period rental during the term hereof which is
less
than one month shall be the pro-rated portion of the monthly rental due. Should
the Tenant choose to exercise their option for an additional 2-year term the
annual rent for that term shall be $62,400, payable in equal monthly
installments of $5,200.
LATE
CHARGES
4. If
Landlord fails to receive any rent payment within 10 days after it becomes
due,
Tenant shall pay Landlord, as additional rental, a late charge equal to. Five
(5%) of the overdue amount or $325, whichever is greater, plus any actual bank
fees incurred far returned or dishonored checks. The parties agree that such
a
late charge represents a fair and reasonable estimate of the cast Landlord
will
incur by reason of such late payment.
SECURITY
DEPOSIT
5. Tenant
shall deposit with Landlord or its Agent upon execution of this Lease $0 as
a
security deposit which shall be held as security far the full and faithful
performance by Tenant of each and every term, covenant and condition of this
Lease. If any of the rents or other charges or sums payable by Tenant shall
be
over-due and unpaid or should payments be made or behalf Tenant, or should
Tenant fail to perform any of the terms of this Lease, then Landlord or its
Agent may, at its option, appropriate and apply the security deposit, or so
much
thereof as may be necessary, to compensate toward the payment of the rents,
charges or other sums due from Tenant, or towards any lass, damage or expense
sustained by Landlord resulting from such default an the part of the Tenant;
and
in such event Tenant shall up an demand restore the security deposit to the
original sum deposited. In the event Tenant furnishes Landlord with proof that
all utility bills have been paid through the date of Lease termination, and
performs all of Tenant's other obligations under this Lease, the security
deposit shall be returned in full to Tenant within thirty (30) days after the
date of the expiration or sooner termination of the term of this Lease and
the
surrender of the Premises by Tenant in compliance with the provisions of this
Lease. The Security Deposit may be placed in an interest bearing account and
any
interest thereon shall be the property of the party holding the
same.
UTILITY
BILLS
| 6. |
(a)
Tenant shall pay the fallowing utilities: Electrical, Phone,
Internet
(b)
Landlord shall pay the following utilities: All other CAM
charges
|
Responsibility
to pay for a utility service shall include all metering, hook-up fees or other
miscellaneous charges associated with the installation and maintenance of such
utility in said party's name.
COMMON
AREA COSTS; RULES AND REGULATIONS
7.
The
Rules and Regulations, if any, attached hereto are made a part of this Lease.
Tenant agrees to perform and abide by these Rules and Regulations, if any,
and
such other Rules and Regulations, if any, as may be made from time to time
by
Landlord.
USE
OF
PREMISES
8.
The,
Premises shall be used far Office Space purposes only and no other. The Premises
shall not be used far any illegal purposes, nor in any manner to create any
nuisance or trespass, nor in any manner to vitiate the insurance or increase
the
rate of insurance on the Premises. In the event Tenant's use of the Premises
results in an increase in the rate of insurance on the Premises, Tenant shall
pay to Landlord, upon demand and as additional rental, the amount of any such
increase.
INDEMNITY;
INSURANCE
9.
Tenant
agrees to and hereby does indemnify and save Landlord harmless against all
claims for damages to persons or property by reason of Tenant's use or occupancy
of the Premises, and all expenses incurred by Landlord because, thereof,
including attorney's fees and court costs. Supplementing the foregoing and
in
addition thereto, Tenant shall during the term of this Lease and any extension
or renewal thereof, and at Tenant's expense, maintain in full force and effect
comprehensive general liability insurance with limits of $500,000
per person and $1,000,000 per accident, and property damage limits of $250,000
which insurance shall contain a special endorsement recognizing and insuring
any
liability accruing to Tenant under the first sentence of this paragraph and
naming Landlord as additional insured. Tenant shall provide evidence of such
insurance to Landlord prior to the commencement of the term of this Lease.
Landlord and Tenant each hereby release and relieve the other, and waive any
right of recovery, for loss or damage arising out of or incident to the perils
insured against which perils occur in, on or about the Premises, whether due
to
the negligence of Landlord or Tenant or their agents, employees, contractors
and/or invitees, to the extent that such loss or damage is within the policy
limits of said comprehensive general liability insurance. Landlord and Tenant
shall, upon obtaining the policies of insurance required, give notice to the
insurance carrier or carriers that the foregoing mutual waiver of subrogation
is
contained in this Lease.
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REPAIRS
BY LANDLORD
10.
Landlord agrees to keep in good repair the roof, foundation and exterior walls
of the Premises (exclusive of all glass and exclusive of all exterior doors)
and
underground utility and sewer pipes outside the exterior walls of the building,
except repairs rendered necessary by the negligence or intentional wrongful
acts
of Tenant, its agents, employees or invitees. If the Premises are part of a
larger building or group of buildings, then to the extent that the grounds
are
common areas, Landlord shall maintain the grounds surrounding the building,
including paving, the mowing of grass, care of shrubs and general landscaping.
Tenant shall promptly report in writing to Landlord any defective condition
known to it which Landlord is required to repair and failure to report such
conditions shall make Tenant responsible to Landlord for any liability incurred
by Landlord by reason of such conditions.
REPAIRS
BY TENANT
11.
Tenant accepts the Premises in their present condition and as suited for the
uses intended by Tenant. Tenant shall, throughout the initial term of this
Lease, and any extension or renewal thereof, at it’s expense, maintain in good
order and repair the Premises, and other improvements located thereon, except
those repairs expressly required to be made by Landlord hereunder. Tenant agrees
to return the Premises to Landlord at the expiration or prior termination of
this Lease, in as good condition and repair as when first received, natural
wear
and tear, damage by storm, fire, lightning, earthquake or other casualty alone
excepted. Tenant, Tenant's employees, agents, contractors or subcontractors
shall take no action which may void any manufacturers or installers warranty
with relation to the Premises. Tenant shall indemnify and hold Landlord harmless
from any liability, claim, demand or cause of action arising on account of
Tenants breach of the provisions of this paragraph.
ALTERATIONS
12.
Tenant shall not make any alterations, additions, or improvements to the
Premises without Landlord's prior written consent. Tenant shall promptly remove
any alterations, additions, or improvements constructed in violation of this
Paragraph upon Landlord's written request. All approved alterations, additions,
and improvements will be accomplished in a good 'and workmanlike manner, in
conformity with all applicable laws and regulations, and by a contractor
approved by Landlord, free of any liens or encumbrances. Landlord may require
Tenant to remove any alterations, additions or improvements (whether or not
made
with Landlord's consent) at the termination of the Lease and to restore the
Premises to its prior condition, all at Tenant's expense. All alterations,
additions and improvements which Landlord has not required Tenant to remove
shall become Landlord's property and shall be surrendered to Landlord upon
the
termination of this Lease, except that Tenant may remove any of Tenant's
machinery or equipment which can be removed without material damage to the
Premises. Tenant shall repair, at Tenant's expense, any damage to the Premises
caused by the removal of any such machinery or equipment.
REMOVAL
OF FIXTURES
13.
Tenant may (if not in default hereunder) prior to the expiration of this Lease,
or any extension or renewal thereof, remove all fixtures and equipment which
it
has placed in the Premises, provided Tenant repairs all damage to the Premises
caused by such removal.
DESTRUCTION
OF OR DAMAGE TO PREMISES
14.
If
the Premises are totally destroyed by storm, fire, lightning, earthquake or
other casualty, this Lease shall terminate as of the date of such destruction
and rental shall be accounted for as between Landlord and Tenant as of that
date. If the premises are damaged but not wholly destroyed by any such
casualties, rental shall xxxxx in such proportion as effective use of the
Premises has been affected and Landlord shall restore Premises to substantially
the same condition as before damage as speedily as is practicable, whereupon
full rental shall recommence.
GOVERNMENTAL
ORDERS
15.
Tenant agrees, at its own expense, to comply promptly with all requirements
of
any legally constituted public authority made necessary by reason of Tenant's
occupancy of the Premises. Landlord agrees to comply promptly with any such
requirements if not made necessary by reason of Tenant's occupancy. It is
mutually agreed, however, between Landlord and Tenant, that if in order to
comply with such requirements, the cost to Landlord or Tenant, as the case
may
be, shall exceed a sum equal to one year's rent, then Landlord or Tenant,
whichever is obligated to comply with such requirements, may terminate this
Lease by giving written notice of termination to the other party by registered
mail; which termination shall become effective sixty (60) days after receipt
of
such notice and which notice shall eliminate the necessity of compliance with
such requirements by giving such notice unless the party giving such notice
of
termination shall, before termination becomes effective, pay to the party giving
notice all cost of compliance in excess of one year's rent, or secure payment
of
said sum in manner satisfactory to the party giving notice.
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CONDEMNATION
16.
If
the whole of the Premises, or such portion thereof as will make the Premises
unusable for the purposes herein leased, is condemned by any legally constituted
authority for any public use or purpose, then in either of said events the
term
hereby granted shall cease from the date when possession thereof is taken by
public authorities, and rental shall be accounted for as between Landlord and
Tenant as of said date. Such termination, however, shall be without prejudice
to
the rights of either Landlord or Tenant to recover compensation and damage
caused by condemnation from the contemnor. It is further understood and agreed
that Tenant shall not have any rights in any award made to Landlord by any
condemnation authority.
ASSIGNMENT
AND SUBLETTING
17.
Tenant shall not, without the prior written consent of Landlord, which shall
not
be unreasonably withheld, assign this Lease or any interest hereunder, or sublet
the Premises or any part thereof, or permit the use of the Premises by any
party
other than the Tenant. Consent to any assignment or sublease shall not impair
this provision and all later assignments or subleases shall be made likewise
only on the prior written consent of Landlord. The Assignee of Tenant, at option
of Landlord, shall become directly liable to Landlord for all obligations of
Tenant hereunder, but no sublease or assignment by Tenant shall relieve Tenant
of any liability hereunder.
EVENTS
OF DEFAULT
18.
The
happening of anyone or more of the following events (hereinafter anyone of
which
may be referred to as an. "Event of Default") during the term of this Lease,
or
any renewal or extension thereof, shall constitute a breach of this Lease on
the
part of the Tenant: (a) Tenant fails to pay the rental as provided for herein;
(b) Tenant abandons or vacates the Premises; (c) Tenant fails to comply with
or
abide by
and
perform any other obligation imposed upon Tenant under this Lease; (d) Tenant
is
adjudicated bankrupt; (e) A permanent receiver is appointed for Tenant's
property and such receiver is not removed within sixty (60) days after written
notice from Landlord to Tenant to obtain such removal; (f) Tenant, either
voluntarily or involuntarily, takes advantage of any debt or relief proceedings
under any present or future law, whereby the rent or any part thereof is, or
is
proposed to be reduced or payment thereof deferred; (g) Tenant makes an
assignment for benefit of creditors; or (h) Tenant's effects are levied upon
or
attached under process against Tenant, which is not satisfied or dissolved
within thirty (30) days after written notice from Landlord to Tenant to obtain
satisfaction thereof.
REMEDIES
UPON DEFAULT
19.
Upon
the occurrence of Event of Default, Landlord may pursue anyone or more of the
following remedies separately or concurrently, without prejudice to any other
remedy herein provided or provided by law: (a) if the Event of Default involves
nonpayment of rental and Tenant fails to cure such default within five (5)
days
after receipt of written notice thereof from Landlord, or if the Event of
Default involves a default in performing any of the terms or provisions of
this
Lease other than the payment of rental and Tenant fails to cure such default
within fifteen (15) days after receipt of written notice of default from
Landlord, Landlord may terminate this Lease by giving written notice to Tenant
and upon such termination shall be entitled to recover from Tenant damages
as
may be permitted under applicable law; or (b) if the Event of Default involves
any matter other than those set forth in item (a) of this paragraph, Landlord
may terminate this Lease by giving written notice to Tenant and, upon such
termination, shall be entitled to recover from the Tenant damages in an amount
equal to all rental which is due and all rental which would otherwise have
become due throughout the remaining term of this Lease, or any renewal or
extension thereof (as if this Lease had not been terminated); or (c) upon any
Event of Default, Landlord, as Tenant's agent, without terminating this Lease;
may enter upon and rent the Premises, in whole or in part, at the best price
obtainable by reasonable effort, without advertisement and by private
negotiations and for any term Landlord deems proper, with Tenant being liable
to
Landlord for the deficiency, if any, between Tenant's rent hereunder and the
price obtained by Landlord on new rental, provided however, that Landlord shall
not be considered to be under any duty by reason of this provision to take
any
action to mitigate damages by reason of Tenant's default. In the event Landlord
hires an attorney to enforce its rights upon default, Tenant shall in addition
be liable for reasonable attorney's fees and all costs of
collection.
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EXTERIOR
SIGNS
20.
Tenant shall place no signs upon the outside walls or roof of the Premises,
except with the express written consent of the Landlord. Any and all signs
placed on the Premises by Tenant shall be maintained in compliance with
governmental rules and regulations governing such signs and Tenant shall be
responsible to Landlord for any damage caused by installation, use or
maintenance of said signs, and all damage incidents to removal
thereof.
.
LANDLORD'S
ENTRY OF PREMISES .
21.
Landlord may advertise the Premises "For Rent" or "For Sale" 60
days and
less before the termination of this Lease. Landlord may enter the Premises
at
reasonable hours, with reasonable advance notice, to exhibit same to prospective
purchasers or tenants and to make repairs required of Landlord under the terms
hereof or to make repairs to Landlord's adjoining property, if any.
EFFECT
OF TERMINATION OF LEASE
22.
No
termination of this Lease prior to the normal ending thereof, by lapse of time
or otherwise, shall affect Landlord's right to collect rent for the period
prior
to termination thereof.
MORTGAGEE'S
RIGHTS
25.
Tenant's rights shall be subject to any bona fide mortgage, deed of trust or
other security interest which is now or may hereafter be placed upon the
Premises by Landlord. Tenant shall, if requested by Landlord, execute a separate
agreement reflecting such subordination, and shall be obligated to execute
such
documentation as may facilitate Landlord's sale or refinancing of the Premises,
including, but not limited to, estoppel certificates, subordination or
attornment agreements.
QUIET
ENJOYMENT
24.
So
long as Tenant observes and performs the covenants and agreements contained
herein, it shall at all times during the Lease term peacefully and quietly
have
and enjoy possession of the Premises, but always subject to the terms hereof.
Provided, however, that in the event Landlord shall sell or otherwise transfer
its interest in the Premises, Tenant agrees to attorn to any new owner or
interest holder and shall, if requested by Landlord, execute a separate
agreement reflecting such attornment, provided that said agreement requires
the
new owner or interest holder to recognize its obligations and Tenant's rights
hereunder.
HOLDING
OVER
25.
If
Tenant remains in possession of the Premises after expiration of the term
hereof, with Landlord's acquiescence and without any express agreement of the
parties, Tenant shall be a tenant at will at the rental rate which is in effect
at end of this Lease and there shall be no renewal of this Lease by operation
of
law. If Tenant remains in possession of the Premises after expiration of the
term hereof without Landlord's acquiescence, Tenant shall be a tenant at
sufferance and commencing on the date following the date of such expiration,
the
monthly rental payable under Paragraph 3 above shall for each month, or fraction
thereof during which Tenant so remains in possession of the premises, be twice
the monthly rental otherwise payable under Paragraph 3 above.
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ATTORNEY'S
FEES
26.
In
the event that any action or proceeding is brought to enforce any term, covenant
or condition of this Lease on the part of Landlord or Tenant, the prevailing
party in such litigation shall be entitled to recover reasonable attorney's
fees
and costs.
RIGHTS
CUMULATIVE
27.
All
rights, powers and privileges conferred hereunder upon parties hereto shall
be
cumulative and not restrictive of those given by law.
WAIVER
OF RIGHTS
28.
No
failure of Landlord to exercise any power given Landlord hereunder or to insist
upon strict compliance by Tenant of its obligations hereunder and no custom
or
practice of the parties at variance with the terms hereof shall constitute
a
waiver of Landlord's right to demand exact compliance with the terms
hereof.
ENVIRONMENTAL
LAWS
29.
(a)
Tenant shall not bring onto the Premises any Hazardous Materials (as defined
below) without the prior written approval by Landlord. Any approval must be
preceded by submission to Landlord of appropriate Material Safety Data Sheets
(MSD Sheets). In the event of approval by Landlord, Tenant covenants that it
will (1) comply with all requirements of any constituted public authority and
all federal, state, and local codes, statutes, ordinances, rules and
regulations, and laws, whether now in force or hereafter adopted relating to
Tenant's use of the Premises, or relating to the storage, use, disposal,
processing, distribution, shipping or sales of any hazardous, flammable, toxic,
or dangerous materials, waste or substance, the presence of which is regulated
by a federal, state, or local law, ruling, rule or regulation (hereafter
collectively referred to as "Hazardous Materials"); (2) comply with any
reasonable recommendations by the insurance carrier of either Landlord or Tenant
relating to the use by Tenant on the Premises of such Hazardous Materials;
(3)
refrain from unlawfully disposing of or allowing the disposal of any Hazardous
Materials upon, within, about or under the Premises; and (4) remove all
Hazardous Materials from the Premises, either after their use by Tenant or
upon
the expiration or earlier termination of this lease, in compliance with all
applicable laws. .
(b)
Tenant shall be responsible for obtaining all necessary permits in connection
with it’s use, storage and disposal of Hazardous Materials, and shall develop
and maintain, and where necessary file with the appropriate authorities all
reports, receipts, manifests, filings, lists and invoices covering those
Hazardous Materials and Tenant shall provide Landlord with copies of all such
items upon request. Tenant shall provide within five (5) days after receipt
thereof, copies of all notices, orders, claims or other correspondence from
any
federal, state or local government or agency alleging any violation of any
environmental law or regulation by Tenant, or related in any manner to Hazardous
Materials. In addition, Tenant shall provide Landlord with copies of all
responses to such correspondence at the time of the response.
(c)
Tenant hereby indemnifies and holds harmless Landlord, its successors and
assigns from and against any and all losses, liabilities, damages, injuries,
penalties, fines, costs, expenses and claims of any and every kind whatsoever
(including attorney's fees and costs, expenses or claims asserted or arising
under the Comprehensive Environmental Response, Compensation and Liability
Act
of 1980, as amended, from time to time, and regulations promulgated hereunder,
any so-called state or local "Superfund" or "Superlien" law, or
any
other
federal, state or local statute, law or ordinance, code, rule, regulation,
order
or decree regulating, relating to, or imposing liability or standards of conduct
concerning any Hazardous Materials) paid, incurred or suffered by, or asserted
against, Landlord as a result of any: claim, demand or judicial or
administrative action by any person or entity (including governmental or private
entities) for, with respect to, or as a direct or indirect result, of, the
presence on or under or the escape, seepage, leakage, spillage, discharge,
emission or release from the Premises , of any Hazardous Materials caused by
Tenant or Tenant's agents, employees, invitees or successors in interest. This
indemnity shall also apply to any release of Hazardous Materials caused by
a
fire or other casualty to the premises if such Hazardous Materials were stored
on the Premises by Tenant, its agents, employees, invitees or successors in
interest.
6
(d)
If
Tenant fails to comply with the Covenants to be performed hereunder with respect
to Hazardous Materials, or if an environmental protection lien is filed against
the premises as a result of the actions of Tenant, its agents, employees or
invitees, then the occurrence of any such events shall be considered a default
hereunder.
(e)
Tenant will give Landlord prompt notice of any release of Hazardous Materials,
reportable or non-reportable, to federal, state or local authorities, of any
fire, or any damage occurring on or to the Premises.
(f)
Tenant will use and occupy the Premises and conduct its business in such a
manner that the Premises are neat, clean and orderly at all times with all
chemicals or Hazardous Materials marked for easy identification and stored
according to all codes as outlined above.
(g)
The
warranties and indemnities contained in this Paragraph shall survive the
termination of this Lease.
TIME
OF ESSENCE
30.
Time
is of the essence in this Lease.
ABANDONMENT
31.
Tenant shall not abandon the Premises at any time during the Lease term. If
Tenant shall abandon the premises or be dispossessed by process of law, any
Personal Property belonging to Tenant and left on the Premises shall, at the
option of Landlord, be deemed abandoned, and available to Landlord to use or
sell to offset any rent due or any expenses incurred by removing same and
restoring the Premises.
DEFINITIONS
32.
"Landlord" as used in this Lease shall include the undersigned, its heirs,
representatives, assigns and successors in title to the Premises. "Agent" as
used in this Lease shall mean the party designated as same in Paragraph 34,
its
heirs, representatives, assigns and successors. "Tenant" shall include the
undersigned and its heirs, representatives, assigns and successors, and if
this
Lease shall be validly assigned or sublet, shall include also Tenant's assignees
or sub lessees as to the Premises covered by such assignment or sublease.
"Landlord", "Tenant", and "Agent" include male and female, singular and plural,
corporation, partnership or individual, as may fit the particular
parties.
NOTICES
33.
All
notices required or permitted under this Lease shall be in writing and shall
be
personally delivered or sent by U.S. certified mail, return receipt requested
postage prepaid. Notices to Tenant shall be delivered or sent to the address
shown at the beginning of this Lease, except that upon Tenant taking possession
of the Premises, then the Premises shall be Tenant's address for such purposes.
Notices to Landlord shall be delivered or sent to the address shown at the
beginning of this Lease and notices to Agent, if any, shall be delivered or
sent
to the address set forth in Paragraph 3 hereof.
All
notices shall be effective upon delivery. Any party may change its notice
address upon written notice to' the other parties, given as provided
herein.
ENTIRE
AGREEMENT
34.
This
Lease contains the entire agreement of the parties hereto, and no
representations, inducements, promises or, agreements, oral or otherwise,
between the parties, not embodied herein shall be of any force or effect. This
Lease may not be modified except by a writing signed by all the parties
hereto. ' '
AUTHORIZED
LEASE EXECUTION
35.
Each
individual executing this Lease as director, officer, partner, member, or agent
of a corporation, limited liability company, or partnership represents and
warrants that he is duly authorized to execute and deliver this Lease on behalf
of such corporation, limited liability company, or partnership.
7
TRANSFER
OF LANDLORD'S INTEREST
36.
In
the event of the sale, assignment or transfer by Landlord of its interest in
the
Premises or in this Lease (other than a collateral assignment to secure a debt
of Landlord) to a successor in interest who expressly assumes the obligations
of
Landlord under this Lease, Landlord shall thereupon be released and discharged
from all its covenants and obligations under this Lease, except those
obligations that have accrued prior to such sale, assignment or transfer; and
Tenant agrees to look solely to the successor in interest of Landlord for the
performance of those covenant accruing after such sale, assignment or transfer.
Landlord's assignment of this Lease, or of any or all of its rights in this
Lease, shall not affect Tenant's obligations hereunder, and Tenant shall attorn
and look to the assignee as Landlord, provided Tenant has first received written
notice of the assignment of Landlord's interest. .
SPECIAL
STIPULATIONS
37.
Any
special stipulations are set forth in the attached Exhibit B. Insofar as said
Special Stipulations conflict with any of the foregoing provisions, said Special
Stipulations shall control.
MEMORANDUM
OF LEASE -
38.
Upon
request by either Landlord or Tenant, the parties hereto shall execute a short
form lease (Memorandum of Lease) in recordable form, setting forth such
provisions hereof (other than the amount of Base Monthly Rent and other sums
due) as either party may wish to incorporate. The cost of recording such
memorandum of lease shall be borne by the party requesting execution of
same.
THIS
DOCUMENT IS A LEGAL DOCUMENT. EXECUTION OF THIS DOCUMENT HAS LEGAL CONSEQUENCES
THAT COULD BE ENFORCEABLE IN A COURT OF LAW. THE NORTH CAROLINA ASSOCIATION
OF
REALTORS@ MAKES' NO REPRESENTATIONS CONCERNING THE LEGAL SUFFICIENCY, LEGAL
EFFECT OR TAX CONSEQUENCES OF THIS DOCUMENT OR THE TRANSACTION TO WHICH IT
RELATES AND RECOMMENDS THAT YOU CONSULT YOUR ATTORNEY.
IN
WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals,
the
date and years first above written.
LANDLORD:
Landlord
/s/
Xxxx
Xxxxxxx
(SEAL)
Morlake
Executive Suites and/or Assigns
By:
Xxxx
Xxxxxxx
Member
TENANT:
Tenant
/s/
J.
Xxxxx
Xxxxxxxxx 6/6/06
(SEAL)
EnviroSystems,
Inc.
By:
J.
Xxxxx Xxxxxxxxx
President,
CEO and Chairman
8
