XXXX XXXX PARTNERSHIP LEASE
This Lease ("Lease") is made this 31st day of December, 1995 by and between
Xxxx Xxxx Partnership (hereinafter "Landlord") and Xxxxxxx Synergy Corporation
(hereinafter "Tenant"). In consideration for the mutual promises and covenants
contained herein, and for other good and valuable consideration, the parties
hereby agree as follows:
1. The Landlord leases to the Tenant, and the Tenant rents from the
Landlord the following described premises:
Xxxxx X & X
0000 Xxxx Xxxx XX
Xxxxxxx, Xxxxxxxxxx
0. The term of the Lease shall be for Thirty Six (36 months) commencing
February 1, 1996 and ending January 31, 1999.
3. The Tenant shall pay to Landlord as rent $16320.00 annually, in equal
monthly installments of $1360.00 per month. payable in advance at 00000 Xxxxxx
Xxx Xx. Xxxxxxx, XX 00000. Rent shall be due on the 1st day of the month. Rent
monies not paid within 10 days of their due date shall be subject to a 15%
penalty.
3a. Rent shall be adjusted on a annual basis. There shall not be any
rent increase during the first 24 months of this lease. Rent shall increase
by 5% beginning in month 25.
4. Tenant agrees to pay sum of $1350.00, as a security deposit. This shall
be a security deposit for the performance by Tenant of the provisions of this
Lease, if Tenant is in default, Landlord can use these funds or any portion of
them to compensate the Landlord for all damage sustained by it resulting from
Tenant's default. If Tenant is not in default at the expiration or termination
of this Lease, Landlord shall return the security deposit to Tenant.
5. Tenant shall use and occupy the premises only as a LM business office
subject at all times to the approval of the Landlord, and Governmental
authorities.
6. The Tenant shall not make any alterations in, additions to or
improvements to the premises without the prior written consent of the Landlord.
7. The Landlord, at his own expense, shall furnish the following utilities
or amenities for the benefit of the Tenant: Sewer, and Building Insurance.
8. The Tenant, at his own expense, shall furnish the following: Telephone,
garbage and pay a prorata share of the buildings water and electrical xxxx.
9. The Tenant shall purchase at his own expense public liability insurance
in the amount not less than $300,000 as well as fire/legal liability and hazard
insurance for the contents and shall provide satisfactory evidence thereof to
the Landlord and shall continue the same in force and effect throughout the
Lease term hereof.
10. The Tenant shall not permit or commit waste to the premises.
11. The Tenant shall comply with all rules, regulations, ordinances codes
and laws of all governmental authorities having jurisdiction over the premises.
12. The Tenant shall not permit or engage in any activity which will effect
an increase in the rate of insurance for the Building in which the premises is
contained nor shall the Tenant permit or commit any nuisance thereon.
13. The Tenant shall not sub-let or assign the premises nor allow any other
person or business to use or occupy the premises without the prior written
consent of the Landlord, which consent may not be unreasonably withheld.
14. At the end of the term of this Lease, the Tenant shall surrender and
deliver up the premises in the same condition (subject to any additions,
alterations or improvements, if any) as presently exists, reasonable wear and
tear excluded.
15. Upon default in any tern or condition of this Lease, the Landlord shall
have the right to undertake any or all other remedies permitted by Law. The
occurrence of any one or more of the following shall constitute a material
default and breach of the Lease by Tenant:
a: Vacation or abandonment of the Premises.
b: Failure by Tenant to make any payment required as and when due, where
such failure shall continue after three (3) days written notice from Landlord.
c: Failure by Tenant to observe or perform any of the covenants, conditions
or provisions of this Lease, other than the making of any payment, where such
failure shall continue for a period of (30) thirty days after written notice
form Landlord
d: The making by Tenant of any general assignment or general arrangement
for the benefit of creditors; the filing by or against Tenant of a petition in
bankruptcy, including reorganization or arrangement; the appointment of a
trustee or receiver to take possession of substantially all of Tenants assets
located at Premises of Tenant's interest in this Lease.
16. This Lease shall be binding upon, and inure to the benefit of, the
parties, their heirs, successors, and assigns.
17. Tenant shall faithfully observe and comply with the rules and
regulations that Landlord shall from time to time promulgate. Any rules that
shall be promulgated after the execution of this lease, shall be mutually agreed
upon. The additions and modifications to those rules shall be binding upon
Tenant upon mutualreement. Landlord shall not be responsible to Tenant for the
nonperformance of any said rules by any other tenants or occupants.
18. Tenant shall have the right to use, in common with other tenants and
occupants of the Building, the parking facilities, and common areas.
19. Tenant shall pay, or cause to be paid, before delinquency, any and all
personal property taxes levied or assessed and which become payable during the
term hereof upon Tenant's leasehold improvements, equipment, furniture, fixtures
and personal property located in the Premises. In the event any or all of the
Tenant's leasehold improvements, equipment, furniture, fixtures and personal
property shall be assessed and taxed with the Building, Tenant shall pay to
Landlord its share of such taxes within ten (10) days after delivery to Tenant
by Landlord of a statement in writing setting forth the amount of such taxes
applicable to Tenant's personal property.
20. REMOVED
21. Option for space B. Tenant shall have an option for the rental of
additional space, known as suite B. This suite shall become available on May 1,
1996, by giving notice not later than 30 days prior to May 1, 1996 of the
tenants desire to occupy said space. There shall be an additional charge of
$340.00 per month for this additional space under the terms and conditions
outlined above.
Signed this 5th day of June 1996.
/s/ Xxxxx Xxxxxxx /s/ Xxxxx Xxxx
--------------------------------- ---------------------------------
Xxxxx Xxxxxxx Xxxxx Xxxx Landlord
CEO
Prior to occupancy Landlord agrees to do the following:
1. Re-gravel existing driveway.
Create an additional gravel parking area 20 x 60
2. Remove exterior debris, relocate trailer to rear property line.
3. Repair or rebuild entry decks as needed.
4. Repair and increase security on the overhead garage style doors.
5. Install trim in areas now complete, that are missing trim.
6. Complete VCT tile in common area entry.
7. Paint downstairs walls.
Landlord agrees to complete the SE quarter of the building consisting of the
entry office and that area adjoining the downstairs bathroom at anytime during
the first 24 months of this lease for $4000.00. This is to consist of sheetrock,
tape, texture, paint and indoor/outdoor carpet, two interior doors and window
xxxxx. Tenant shall retain the option of upgrading carpeting, and agrees to pay
the difference in cost.
5/20/96
TO: Xxxxx Xxxxxxx
Xxxxxxx Synergy
0000 XX Xxxx Xxxx
Xxxxxxx, Xxxx 00000
FROM: Xxxxx Xxxx
Xxxx Xxxx Partnership
00000 Xxxxxx Xxx XX
Xxxxxxx, Xxxx 00000
Re: Tenant Improvements
Dear Xxxxx,
This is to acknowledge our conversation regarding your assumption of suite B.
Beginning on June 1, 1996., Per section 21 of our lease, your rent will increase
by $340.00. You are hereby authorized to make the tenant improvements you
outlined, at your expense. Specifically, creating a doorway between the two
spaces, adding phone and electrical wiring.
Regarding the tenant improvements that you have previously been authorized and
performed at your own expense, I am attaching your list of things that you would
like to get done.
Tenant improvements as we have discussed and agreed are to be done at your
direction and expense. Of the attached list of items, the Xxxx Xxxx Partnership
will take responsibility for the following items, including the expense of
performing these items:
Items:3,4,5,9,13,15,16,19,22,26 and 27.
The remaining items are primarily trim and finish items that have not been
completed as part of your tenant improvements. I have agreed to recommend
suppliers and sub-contractors that you can hire to perform these services. It is
clearly understood that I am only acting in an advisory capacity, that you are
free to accept or reject the people that I recommend, and all work contracted by
you shall be your responsibility. I agree to do everything I can to help you
accomplish the work items on the attached list.
/s/ Xxxxx Xxxxxxx /s/ Xxxxx Xxxx
------------------------------ ------------------------------
Xxxxx Xxxxxxx Xxxxx Xxxx
1/24/96
LEASE AMENDMENT
XXXXXXX SYNERGY/XXXX XXXX PARTNERSHIP
This Lease ("Lease") which was made between Xxxx Xxxx Partnership (hereinafter
"Landlord") and Xxxxxxx Synergy Corporation (hereinafter "Tenant"). In
consideration for the mutual promises and covenants contained herein, and for
other good and valuable consideration, the parties hereby agree to amend as
follows:
22. Tenant shall have the option to extend this lease for a period not to
exceed 60 months, by giving landlord written notice not less than month 34 of
this tenancy. In extending said lease tenant agrees to an increase of 5% of the
monthly rent that is in effect during month 34 of this lease beginning in month
37 and extending through the life of the lease
Signed this day of , 19 .
------ -------------------
/s/ Xxxxx X. Xxxxxxx /s/ Xxxxx Xxxx
------------------------------------ ---------------------------------
Xxxxx X. Xxxxxxx Xxxxx Xxxx
Chairwoman Landlord
Xxxx Xxxx Partnership
00000 Xxxxxx Xxx. XX
Xxxxxxx, Xxxxxxxxxx 00000
Xx. Xxxxx Xxxxxxx, CEO
Acceleration Software
0000 XX Xxxx Xxxx Xx.
Xxxxxxx, Xxxxxxxxxx 00000
Dear Xx. Xxxxxxx,
We are in receipt of your September 30th letter exercising your option under the
terms of our lease, specifically item 22.
We are pleased that you have exercised that option.
Sincerely,
/s/ Xxxxx Xxxx
----------------------------
Xxxxx Xxxx
Managing Partner
[LOGO]
OPERATIONS DEPARTMENT
0000 XX Xxxx Xxxx Xxxx
Xxxxxxx, Xxxxxxxxxx 00000
Fax: (000) 000-0000 Phone: (000) 000-0000
September 30, 1998
Xxxx Xxxx Partners
ATTN: Mr. Xxxxx Xxxx
00000 Xxxxxx Xxxxxx XX
Xxxxxxx, XX 00000
Dear Xxxxx:
Along with the October rent payment, at this time we are submitting written
notice per item 22 of the lease agreement. We would like to exercise our option
to extend the lease for a period of 60 months.
Sincerely,
/s/ Xxxxx Xxxxxxx
------------------------------------
Xxxxx Xxxxxxx, CEO
Acceleration Software International
(formerly Xxxxxxx Synergy)
cc: Xxxxx X. Xxxxxxx, President
