Exhibit 10.8
COMMERCIAL LEASE
THIS LEASE is made on the 1 day of May, 1999.
The Landlord hereby agrees to lease to the Tenant, and the Tenant hereby
agrees to hire and take from the Landlord, the Leased Premises described
below pursuant to the terms and conditions specified herein:
LANDLORD: XXXX XXXXXXXXXX TENANT(S): bright xxxxxxxxxxxx.xxx inc
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Address: 000 XXXXXXXX XX Address: 0000 XXXXXX XX
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XXXXXXXXX, XX 00000 XXXXXXXXX, XX 00000
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1. LEASED PREMISES. The Leased Premises are those premises described as:
Commercial Office Space
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2. TERM. The term of the Lease shall be for a period of 3 year(s)
commencing on the 1 day of May, 1999
ending on the _____ day of ______________, 19__ unless sooner terminated as
hereinafter provided. If Tenant remains in possession of the Leased Premises
with the written consent of the Landlord after the lease expiration date
stated above, this Lease will be converted to a month-to-month Lease and each
party shall have the right to terminate the Lease by giving at least one
month's prior written notice to the other party.
3. RENT. The Tenant agrees to pay the ANNUAL RENT of Ten Thousand Eight
Hundred Dollars ($10,800.00) payable in equal installments $900 in advance
on the first day of each and every calendar month during the full term of
this Lease.
4. RENT ADJUSTMENT. If in any tax year commencing with the fiscal year
1999, the real estate taxes on the land and buildings, of which the Leased
Premises are a part, are in excess of the amount of the real estate taxes
thereon for the fiscal year (hereinafter called the "Base Year"). Tenant
will pay to Landlord as additional rent hereunder, when and as designated by
notice in writing, by Landlord 21% per cent of such excess that may occur in
each year of the term of this Lease or any extension or renewal thereof and
proportionately for any part of a fiscal year.
5. SECURITY DEPOSIT. The sum of NONE Dollars ($-0-) is deposited by the
Tenant with the Landlord as security for the faithful performance of all the
covenants and conditions of the lease by the said Tenant. If the Tenant
faithfully performs all the covenants and conditions on his part to be
performed, then the sum deposited shall be returned to the Tenant.
6. DELIVERY OF POSSESSION. If for any reason the Landlord cannot deliver
possession of the leased property to the Tenant when the lease term
commences, this Lease shall not be void or voidable, nor shall the Landlord
be liable to the Tenant for any loss or damage resulting therefrom. However,
there shall be an abatement of rent for the period between the commencement
of the lease term and the time when the Landlord delivers possession.
7. USE OF LEASED PREMISES. The Leased Premises may be used only for the
following purpose(s):
Office Space
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8. UTILITIES. Except as specified below, the Tenant shall be responsible
for all utilities and services that are furnished to the Leased Premises.
The Tenant shall be responsible for 21% of the utilities of 0000 Xxxxxx Xx,
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Liverpool NY
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9. CONDITION OF LEASED PREMISE; MAINTENANCE AND REPAIR. The Tenant
acknowledges that the Leased Premises are in good order and repair. The
Tenant agrees to take good care of and maintain the Leased Premises in good
condition throughout the term of the Lease.
The Tenant, at his expense, shall make all necessary repairs and replacements
to the Leased Premises, including the repair and replacement of pipes,
electrical wiring, heating and plumbing systems, fixtures and all other
systems and appliances and their appurtenances. The quality and class of all
repairs and replacements shall be equal to or greater than the original
worth. If Tenant defaults in making such repairs or replacements, Landlord
may make them for Tenant's account, and such expenses will be considered
additional rent.
10. COMPLIANCE WITH LAWS AND REGULATIONS. Tenant, at its expense, shall
promptly comply with all federal, state, and municipal laws, orders, and
regulations, and with all lawful directives of public officers, which impose
any duty upon it or Landlord with respect to the Leased Premises. The Tenant
at its expense, shall obtain all required licenses or permits for the conduct
of its business within the terms of this lease, or for making of repairs,
alterations, improvements, or additions. Landlord, when necessary, will join
with the Tenant in applying for all such permits or licenses.
11. ALTERATIONS AND IMPROVEMENTS. Tenant shall not make any alterations,
additions, or improvements to, or install any fixtures on, the Leased
Premises without Landlord's prior written consent. If such consent is given,
all alterations, additions, and improvements made, and fixtures installed by
Tenant shall become Landlord's property at the end of the Lease/term.
Landlord may, however, require Tenant to remove such fixtures, at Tenant's
expense, at the end of the Lease Term.
12. ASSIGNMENT/SUBLETTING RESTRICTIONS. Tenant may not assign this
agreement or sublet the Leased Premises without the prior written consent of
the Landlord. Any assignment, sublease or other purported license to use the
Leased Premises by Tenant without the Landlord's consent shall be void and
shall (at Landlord's option) terminate this Lease.
13. INSURANCE.
(i) BY LANDLORD. Landlord shall at all times during the term of this
Lease, at its expense, insure and keep in effect on the building in which the
Leased Premises are located fire insurance with extended coverage. The Tenant
shall not permit any use of the Leased Premises which will make voidable any
insurance on the property of which the Leased Premises are a part, or on the
contents of said property or which shall be contrary to any law or
regulation from time to time established by the applicable fire insurance
rating association. Tenant shall on demand reimburse the Landlord, and all
other tenants, the full amount of any increase in insurance premiums caused
by the Tenant's use of the premises.
(ii) BY TENANT. Tenant shall, at its expense, during the term hereof,
maintain and deliver to Landlord public liability and property damage and
plate glass insurance policies with resepect to the Leased Premises. Such
policies shall name the Landlord and Tenant as insureds, and have limits of
at least $1 million for injury or death to any one person and $1 million for
any one accident, and $100,000 with respect to damage to property and with
full coverage for plate glass. Such policies shall be in whatever form and
with such insurance companies as are reasonable satisfactory to Landlord,
shall name the Landlord as additional insured, and shall provide for at least
ten days' prior notice to Landlord of cancellation.
14. INDEMNIFICATION OF LANDLORD. Tenant shall defend, indemnify, and hold
Landlord harmless from and against any claim, loss, expense or damage to any
person or property in or upon the Leased Premises, arising out of Tenant's
use or occupancy of the Leased Premises, or arising out of any act or neglect
of Tenant or its servants, employees, agents, or invitees.
15. CONDEMNATION. If all or any part of the Leased Premises is taken by
eminent domain, this lease shall expire on the date of such taking, and the
rent shall be apportioned as of that date. No part of any award shall belong
to Tenant.
16. DESTRUCTION OF PREMISES. If the building in which the Leased Premises is
located is damaged by fire or other casualty, without Tenant's fault, and the
damage is so extensive as to effectively constitute a total destruction of
the property or building, this Lease shall terminate and the rent shall be
apportioned to the time of the damage. In all other cases of damage without
Tenant's fault, Landlord shall repair the damage with reasonable dispatch, and
if the damage has rendered the Leased Premises wholly or partially
untenantable, the rent shall be apportioned until the damage is repaired. In
determining what constitutes reasonable dispatch, consideration shall be
given to delays caused by strikes, adjustment of insurance, and other causes
beyond the Landlord's control.
17. LANDLORD'S RIGHTS UPON DEFAULT. In the event of any breach of this lease
by the Tenant, which shall not have been cured within TEN (10) DAYS, then the
Landlord, besides other rights or remedies it may have, shall have the
immediate right of reentry and may remove all persons and property from the
Leased premises; such property may be removed and stored in a public
warehouse or elsewhare at the cost of, and for the account of, the Tenant. If
the Landlord elects to reenter as herein provided, or should it take
possession pursuant to any notice provided for by law, it may either
terminate this Lease or may, from time to time, without terminating this
lease, relet the Leased Premises or any part thereof, for such term or terms
and at such rental or rentals and upon such other terms and conditions as the
Landlord in Landlord's own discretion may deem advisable. Should rentals
received from such reletting during any month be less than that agreed to be
paid during the month by the Tenant hereunder, the Tenant shall pay such
deficiency to the Landlord monthly. The Tenant shall also pay to the
Landlord, as soon as ascertained, the cost and expenses incurred by the
Landlord, including reasonable attorneys fees, relating to such reletting.
18. QUIET ENJOYMENT. The Landlord agrees that if the Tenant shall pay rent
as aforesaid and perform the covenants and agreements herein contained on its
part to be performed, the Tenant shall peaceably hold and enjoy the said
rented premises without hindrance or interruption by the Landlord or by any
other person or persons acting under or through the Landlord.
19. LANDLORD'S RIGHT TO ENTER. Landlord may, at reasonable times, enter the
Leased Premises to inspect it, to make repairs or alterations, and to show it
to potential buyers, lenders or tenants.
20. SURRENDER UPON TERMINATION. At the end of the lease term the Tenant shall
surrender the leased property in as good condition as it was in at the
beginning of the term, reasonable use and wear excepted.
21. SUBORDINATION. This lease, and the Tenant's leasehold interest, is and
shall be subordinate, subject and inferior to any and all liens and
encumbrances now and thereafter placed on the Leased Premises by Landlord,
any and all extensions of such liens and encumbrances and all advances paid
under such liens and encumbrances.
22. ADDITIONAL PROVISIONS: N/A
23. MICELLANEOUS TERMS.
(i) NOTICES. Any notice, statement, demand or other communication by one
party to the other, shall be given by personal delivery or by mailing the same,
postage prepaid, addressed to the Tenant at the premises, or to the Landlord
at the address set forth above.
(ii) SEVERABILITY. If any clause or provision herein shall be adjudged
invalid or unenforceable by a court of competent jurisdiction or by operation
of any applicable law, it shall not affect the validity of any other clause or
provision, which shall remain in full force and effect.
(iii) WAIVER. The failure of either party to enforce any of the provisions
of this lease shall not be considered a waiver of that provision or the right
of the party to thereafter enforce the provision.
(iv) COMPLETE AGREEMENT. This Lease constitutes the entire understanding of
the parties with respect to the subject matter hereof and may not be modified
except by an instrument in writing and signed by the parties.
(v) SUCCESSORS. This Lease is binding on all parties who lawfully succeed
to the rights or take the place of the Landlord or Tenant.
24. [FOR LEASED PREMISES IN FLORIDA ONLY]: 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.
IN WITNESS WHEREOF the parties have set their hands and seals on this 1 day
of May 1999.
/s/ Xxxx Xxxxxxxxxx /s/ Xxxxxx X. Xxxxxxxxxx CEO
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Landlord or Landlord's Authorized Agent Tenant
for bright-technologies. com. inc
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Tenant
Read the instructions and other important information on the package. When
using this form you will be acting as your own attorney since Rediform, its
advisors and retailers do not render legal advice or service. Rediform, its
advisors and retailers assume no liability for loss or damage resulting from
the use of this form.
