THIS LEASE, dated the 21st day of March, 2000 between Xxxx Laser Technologies,
Inc., 37 Ironia Rd., Flanders, .J. 07836, hereinafter referred to as the
Landlord, and R-Tec Technologies, Inc., 00 Xxxxxx Xx., Xxxxxxxx, X.X. 00000,
hereinafter referred to as the Tenant,
WITNESSETH: That the Landlord hereby demises and leases unto the Tenant, and the
Tenant hereby hires and takes from the Landlord for the term and upon the
rentals hereinafter specified, the premises described as follows, situated in
the Township of Mt. Olive, County of Xxxxxx and State of New Jersey Portion of
premises as indicated by the highlighted area in the floor plan attached to this
lease and marked as "Exhibit A", containing a gross floor space of 1930 square
feet located at 00 Xxxxxx Xxxx, Xxxxxxxx, Xxx Xxxxxx, 00000.
The term of this demise shall be for Two (2) years, with option at the end
of lease beginning March 21, 2000 and ending March 20, 2002.
The rent for the demised term shall be Fifty two thousand one hundred and
ten and 00/100 dollars ($52,110.00).
The said rent is to be payable monthly in advance on the first day of each
calendar month for the term hereof, in installments as follows:
$2,171.25/month during the term at the office of Xxxx Laser Technologies, Inc.,
or as may be otherwise directed by the Landlord in writing.
THE ABOVE LETTING IS UPON THE FOLLOWING CONDITIONS:
First.-The Landlord covenants that the Tenant, on paying the said rental
and performing the covenants and conditions in this Lease contained, shall and
may peaceably and quietly have, hold and enjoy the demised premises for the term
aforesaid.
Second.-The Tenant covenants and agrees to use the demised premises as a
Office space. Tenant represents that it's Standard Industrial Classification
Code (S.I.C.) is ________, and that its principal business is office and product
testing.
and agrees not to use or permit the premises to be used for any other purpose
without the prior written consent of the Landlord endorsed hereon.
Third.-The Tenant shall, without any previous demand therefor, pay to the
Landlord, or its agent, the said rent at the times and in the manner above
provided. In the event of the non-payment of said rent, or any installment
thereof, at the times and in the manner above provided, and if the same shall
remain in default for ten days after becoming due, or if the Tenant shall be
dispossessed for non-payment of rent, or if the leased premises shall be
deserted or vacated, the Landlord or its agents shall have the right to and may
enter the said premises as the agent of the Tenant, either by force or
otherwise, without being liable for any prosecution or damages therefor, and may
relet the premises as the agent of the Tenant, and receive the rent therefor,
upon such terms as shall be satisfactory to the Landlord, and all rights of the
Tenant to repossess the premises under this lease shall be forfeited. Such
re-entry by the Landlord shall not operate to release the Tenant from any rent
to be paid or covenants to be performed hereunder during the full term of this
lease. For the purpose of reletting, the Landlord shall be authorized to make
such repairs or alterations in or to the leased premises as may be necessary to
place the same in good order and condition. The Tenant shall be liable to the
Landlord for the cost of such repairs or alterations, and all expenses of such
reletting. If the sum realized or to be realized from the reletting is
insufficient to satisfy the monthly or term rent provided in this lease, the
Landlord, at its option, may require the Tenant to pay such deficiency month by
month, or may hold the Tenant in advance for the entire deficiency to be
realized during the term of the reletting. The Tenant shall not be entitled to
any surplus accruing as a result of the reletting. The Landlord is hereby
granted a lien, in addition to any statutory lien or right to distrain that may
exist, on all personal property of the Tenant in or upon the demised premises,
to secure payment of the rent and performance of the covenants and conditions of
this lease. The Landlord shall have the right, as agent of the Tenant, to take
possession of any furniture, fixtures, or other personal property of the Tenant
found in or about the premises, and sell the same at public or private sale and
to apply the proceeds thereof to the payment of any monies becoming due under
this lease, the Tenant hereby waiving the benefit of all laws exempting property
from execution, levy and sale on distress or judgment. The Tenant agrees to pay,
as additional rent, all attorney's fees and other expenses incurred by the
landlord in enforcing any of the obligations under this lease.
Fourth.-The Tenant shall not sub-let the demised premises nor any portion
thereof, nor shall this lease be assigned by the Tenant without the prior
written consent of the Landlord endorsed hereon.
Fifth.-The Tenant has examined the demised premises, and accepts them in
their present condition (except as otherwise expressly provided herein) and
without any representations on the part of the Landlord or its agents as to the
present or future condition of the said premises. The Tenant shall keep the
demised premises in good condition, and shall redecorate, paint and renovate the
said premises as may be necessary to keep them in repair and good appearance.
The Tenant shall quit and surrender the premises at the end of the demised term
in as good condition as the reasonable use thereof will permit. The Tenant shall
not make any alternations, additions, or improvements to said premises without
the prior written consent of the Landlord. All erections, alterations, additions
and improvements, whether temporary or permanent in character, which may be made
upon the premises either by the Landlord or the Tenant, except furniture or
movable fixtures installed at the expense of the Tenant, shall be the property
of the Landlord and shall remain upon and be surrendered with the premises as a
part thereof at the termination of this Lease, without compensation to the
Tenant. The Tenant further agrees to keep said premises and all parts thereof in
a clean and satisfactory condition and free from trash, inflammable material and
other objectionable matter. If this lease covers premiums, all or part of which
are on the ground floor, the Tenant further agrees to keep the sidewalks in
front of such ground floor portion of the demised premises clean and free of
obstructions, snow and ice.
Sixth.-In the event that any mechanics' lien is filed against the premises
as a result of alterations, additions or improvements made by the Tenant, the
Landlord, at its option , after thirty days notice to the Tenant, may terminate
this Lease and may pay the said lien, without inquiring into the validity
thereof, and the Tenant shall forthwith reimburse the Landlord the total expense
incurred by the Landlord in discharging the said lien, as additional rent
hereunder.
Seventh.-The Tenant agrees to replace at the Tenant's expense any and all
glass which may become broken in and on the demised premises. Plate glass and
mirrors, if any, shall be insured by the Tenant at their full insurable value in
a company satisfactory to the Landlord. Said policy shall be of the full premium
type, and shall be deposited with the Landlord or its agent.
Eighth-The Landlord shall not be responsible for the loss of or damage to
property, or injury to persons, occurring in or about the demised premises by
reason of any existing or future condition, defect, matter or thing in said
demised premises or the property of which the premises are a part, or for the
acts, omissions or negligence of other persons or tenants in and about the said
property. The Tenant agrees to indemnify and save the Landlord harmless from all
claims and liability for losses of or damage to property, or injuries to persons
occurring in or about the demised premises.
Ninth-Utilities and services furnished to the demised premises for the
benefit of the Tenant shall be provided and paid for as follows: water by the
Landlord; gas by the Tenant; electricity by the Tenant; heat by the Tenant;
refrigeration by the Tenant; hot water by the Landlord.
The Landlord shall not be liable for any interruption or delay in any of
the above services for any reason.
Tenth-The Landlord, or its agents, shall have the right to enter the
demised premises at reasonable hours in the day or night to examine the same or
to run telephone or other wires, or to make such repairs, additions or
alterations as it shall deem necessary for the safety, preservation or
restoration of the improvements, or for the safety or convenience of the
occupants or users thereof (there being no obligation, however, on the part of
the Landlord to make any such repairs, additions or alterations), or to exhibit
the same to prospective purchasers and put upon the premises a suitable "For
Sale" sign. For three months prior to the expiration of the demised term, the
Landlord, or its agents, may similarly exhibit the premises to prospective
tenants, and may place the usual "To Let" signs thereof.
Eleventh-In the event of the destruction of the demised premises of the
building containing the said premises by fire, explosion, the elements or
otherwise during the term hereby granted, or previous thereto, or such partial
destruction thereof as to render the premises wholly untentable or unfit for
occupancy, or should the demised premises be so badly injured that the same
cannot be repaired within ninety days from the happening of such injury, then
and in such case the term hereby granted shall, at the option of the Landlord,
cease and become null and void from the date of such damage or destruction, and
the Tenant shall immediately surrender said premises and all the Tenant's
interest therein to the Landlord, and shall pay rent only to the time of such
surrender, in which event the Landlord may re-enter and repossess the premises
thus discharged from this lease and may remove all parties therefrom. Should the
demised premises be rendered untentable and unfit for occupancy, but yet be
repairable within ninety days from the happening of said injury, the Landlord
may enter and repair the same with reasonable speed, and the rent shall not
accrue after said injury or while repairs are being made, but shall recommence
immediately after said repairs shall be completed. But if the premises shall be
so slightly injured as not to be rendered untentable and null for occupancy,
then the Landlord agrees to repair the same with reasonable promptness and in
that case the rent accrued and accruing shall not cease or determine. The Tenant
shall immediately notify the landlord in case of fire or other damage to the
premises.
Twelfth-The Tenant agrees to observe and comply with all laws, ordinances,
rules and regulations of the Federal, State, County and Municipal authorities
applicable to the business to be conducted by the Tenant in the demised
premises. The Tenant agrees not to do or permit anything to be done in said
premises, or keep anything therein, which will increase the rate of fire
insurance premiums on the improvements or any part thereof, or on property kept
therein, of which will obstruct or interfere with the right of other tenants, or
conflict with the regulations of the Fire Department or with any insurance
policy upon said improvements or any part thereof, in the event of any increase
in insurance premiums resulting from the Tenant's occupancy of the premises, or
from any act or omission on the part of the Tenant, the Tenant agrees to pay
said increase in insurance premiums on the improvements or contents thereof as
additional rent.
Thirteenth-No sign, advertisement or notice shall be affixed to or placed
upon any part of the demised premises by the Tenant, except in such manner, and
of such size, design and color as shall be approved in advance in writing by the
Landlord.
Fourteenth-This lease is subject and is hereby subordinated to all present
and future mortgages, deeds of trust and other encumbrances affecting the
demised premises or the property of which said premises are a part, the Tenant
agrees to execute, at no expense to the Landlord, any instrument which may be
deemed necessary or desirable by the Landlord to further effect the
subordination of this lease to any such mortgage, deed of trust or encumbrance.
Fifteenth-In the event of the sale by the Landlord of the demised premises,
or the property of which said premises are a part, the Landlord or the purchaser
may terminate this lease on the thirtieth day of April in any year upon giving
the Tenant notice of such termination prior to the first day of January in the
same year.
Sixteenth-The rules and regulations regarding the demised premises, affixed
to this lease, if any, as well as any other and further reasonable rules and
regulations which shall be made by the Landlord, shall be observed by the Tenant
and by the Tenant's employees, agents and customers. The Landlord reserves the
right to rescind any presently existing rules applicable to the demised
premises, and to make such other and further reasonable rules and regulations
as, in its judgment, may from time to time be desirable for the safety, care and
cleanliness of the premises, and for the preservation of good order therein,
which rules, when so made and notice thereof given to the Tenant, shall have the
same force and effect as if originally made a part of this lease. Such other and
further rules shall not, however, be inconsistent with the proper and rightful
enjoyment by the Tenant of the demised premises.
Seventeenth-In case of violation by the Tenant of any of the covenants,
agreements, and conditions of this lease, or of the rules and regulations now or
hereafter to be reasonably established by the Landlord, and upon failure to
discontinue such violation within ten days after notice thereof given to the
Tenant, this lease shall thenceforth, at the option of the Landlord, become null
and void, and the Landlord may re-enter without further notice or demand. The
rent in such case shall become due, be apportioned and paid on and up to the day
of such re-entry, and the Tenant shall be liable for all loss or damage
resulting from such violation as aforesaid. No waiver by the Landlord of any
violation or breach of condition by the Tenant shall constitute or be construed
as a waiver of any other violation or breach of condition, nor shall lapse of
time after breach of condition by the Tenant before the Landlord shall exercise
its option under this paragraph operate to defeat the right of the Landlord to
declare this lease null and void and to re-enter upon the demised premises after
the said breach or violation.
Eighteenth.-All notices and demands, legal or otherwise, incidental to this
lease, or the occupation of the demised premises, shall be in writing. If the
Landlord or its agent desires to give or serve upon the Tenant any notice or
demand, it shall be sufficient to send a copy thereof by registered mail,
addressed to the Tenant at the demised premises, or to leave a copy thereof with
a person of suitable age found on the premises, or to post a copy thereof upon
the door to said premises. Notices from the Tenant to the Landlord shall be sent
by registered mail or delivered to the Landlord at the place hereinbefore
designated for the payment of rent, or to such party or place as the Landlord
may from time to time designate in writing.
Nineteenth.-It is further agreed that if at any time during the term of this
lease the Tenant shall make any assignment for the benefit of creditors, or be
decreed insolvent or bankrupt according to law, or if a receiver shall be
appointed for the Tenant, then the landlord may, at its option, terminate this
lease, exercise of such option to be evidenced by notice to that effect severed
upon the assignee, receiver, trustee or other person in charge of the
liquidation of the property of the Tenant or the Tenant's estate, but such
termination shall not release or discharge any payment of rent payable hereunder
and then accrued, or any liability then accrued by reason of any agreement or
covenant herein contained on the part of the Tenant, or the Tenant's legal
representative.
Twentieth.-In the event that the Tenant shall remain in the demised premises
after the expiration of the term of this lease without having executed a new
written lease with the Landlord, such holding over shall not constitute a
renewal or extension of this lease. The Landlord may, at its option, elect to
treat the Tenant as one who has not removed at the end of his terms, and
thereupon be entitled to all the remedies against the Tenant provided by law in
that situation, or the Landlord may elect at its option, to construe such
holding over on a tenancy from month to month, subject to all the terms and
conditions of this lease, except as to duration thereof, and in that event the
Tenant shall pay monthly rent in advance at the rate provided herein as
effective during the last month of the demised term.
Twenty-first.-If the property or any part thereof wherein the demised
premises are located shall be taken by public or quasi-public authority under
any power of eminent domain or condemnation, this lease, at the option of the
Landlord, shall forthwith terminate and the Tenant shall have no claim or
interest in or to any award of damages for such taking.
Twenty-second.-The Tenant has this day deposited with the Landlord the sum
of $4,342.50 as security for the full and faithful performance by the Tenant of
all the terms, covenants and conditions of this lease upon the Tenant's part to
be performed, which said sum shall be returned to the Tenant after the time
fixed as the expiration of the term herein provided the Tenant has fully and
faithfully carried out all of said terms, covenants and conditions on Tenant's
part to be performed. In the event of a bona fide sale, subject to this Lease,
the Landlord shall have the right to transfer the security to the vendee for the
benefit of the Tenant and the Landlord shall be considered released by the
Tenant from all liability for the return of such security; and the Tenant agrees
to look to the new Landlord solely for the return of the said security, and it
is agreed that this shall apply to every transfer or assignment made of the
security to a new Landlord. The security deposited under this lease shall not be
mortgaged, assigned or encumbered by the Tenant without the written consent of
the Landlord.
Twenty-third.-Any dispute arising under this Lease shall be settled by
arbitration. The Landlord and Tenant shall each choose an arbitrator, and the
two arbitrators thus chosen shall select a third arbitrator. The findings and
award of the three arbitrators thus chosen shall be final and binding on the
parties hereto.
Twenty-fourth.-No rights are to be conferred upon the Tenant until this
lease has been signed by the Landlord, and an executed copy of the lease has
been delivered to the Tenant.
Twenty-fifth.-The foregoing rights and remedies are not intended to be
exclusive but as additional to all rights and remedies the Landlord would
otherwise have by law.
Twenty-sixth.-All of the terms, covenants and conditions of this lease shall
inure to the benefit of and be binding upon the respective heirs, executors,
administrators, successors and assigns of the parties hereto. However, in the
event of the death of the Tenant, if an individual, the Landlord may, at its
option, terminate this lease by notifying the executor or administrator of the
Tenant at the demised premises.
Twenty-seventh.-This lease and the obligation of Tenant to pay rent
hereunder and perform all of the other covenants and agreements hereunder on
part of Tenant to be performed shall in nowise be affected , impaired or excused
because Landlord is unable to supply or is delayed in supplying any service
expressly or impliedly to be supplied or is unable to make, or is delayed in
making any repairs, additions, alterations or decorations or is unable to supply
or is delayed in supplying any equipment or fixtures if Landlord is prevented or
delayed from so doing by reason of governmental preemption in connection with
the national Emergency declared by the President of the United States or in
connection with any rule, order or regulation of any department or subdivision
thereof of any governmental agency or by reason of the conditions of supply and
demand which have been or are affected by the way.
Twenty-eight.-This instrument may not be changed orally.
IN WITNESS WHEREOF, the said parties have hereunto set their hands and
seals the day and year first above written.
Witness Xxxx Laser Technologies, Inc. (SEAL)
Landlord
/s/
--------------------------------- R. Tec Technologies, Inc.
/s/ Xxxx X. Xxxxx, By: /s/ Xxxxxx Xxxxxx,Pres. (SEAL)
--------------------------------
Xxxx X. Xxxxx, Vice President --------------------------------------
Xxxxxx Xxxxxx, President
GUARANTY
In consideration of the execution of the within lease by the Landlord, at
the request of the undersigned and in reliance of this guaranty, the undersigned
hereby guarantees unto the Landlord, its successors and assigns, the prompt
payment of all rent and the performance of all of the terms, covenants and
conditions provided in said lease, hereby waiving all notice of default, and
consenting to any extensions of time or changes in the manner of payment or
performance of any of the terms and conditions of the said lease the Landlord
may grant the Tenant and further consenting to the assignment and the successive
assignments of the said lease, and any indemnification thereof, including the
sub-letting and changing of the use of the demised premises, all without notice
to the undersigned. The undersigned agrees to pay the Landlord all expenses
incurred in enforcing the obligations of the Tenant under the within lease and
in enforcing this guaranty.
Witness:--------------------------- ------------------------(SEAL)
--------------------------- Xxxxxx Xxxxxx (SEAL)
Date: ---------------------------- ------------------------------
LEASE
================================
Xxxx Laser Technologies, Inc., Landlord
to
R-Tec Technologies, Inc., Tenant
================================
Premises leased:
Approximately 1930 S.F. of office space
at 00 Xxxxxx Xx.,
Xxxxxxxx, X.X. 00000
From: March 21, 2000
To: March 20, 2002
ASSIGNMENT AND ACCEPTANCE OF ASSIGNMENT
For value received the undersigned Tenant hereby assigns all of said
Tenant's right, title and interest in and to the within lease from and after
________________ unto ______________ heirs, successors, and assigns, the demised
premises to be used and occupied for
________________________________________________________ and for no other
purpose, it being expressly agreed that this assignment shall not in any manner
relieve the undersigned assignor from liability upon any of the covenants of
this lease.
Witness: ---------------------- --------------------------------(SEAL)
Witness: ---------------------- --------------------------------(SEAL)
Date: -------------------------
In consideration of the above assignment and the written consent of the
Landlord thereto, the undersigned assignee, __________________________________
hereby assumes and agrees from and after _________________ to make all payments
and to perform all covenants and conditions provided in the within lease by the
Tenant therein to be made and performed.
Witness: -------------------- ------------------------------(SEAL)
Witness: -------------------- ------------------------------(SEAL)
Date: ----------------- -----
CONSENT TO ASSIGNMENT
The undersigned Landlord hereby consents to the assignment of the within
lease to _____________________________ on the express conditions that the
original Tenant ________________________________, the assignor, herein, shall
remain liable for the prompt payment of the rent and the performance of the
covenants provided in the said lease by the Tenant to be made and performed, and
that no further assignment of said lease or sub-letting of any part of the
premises thereby demised shall be made without the prior written consent of the
undersigned Landlord.
---------------------------------
Landlord
Date: ------------------ By: -----------------------------
LEASE BETWEEN
XXXX LASER TECHNOLOGIES, INC.
AND
R-TEC TECHNOLOGIES, INC.
The following terms and conditions are incorporated as part of the attached
lease between Xxxx Laser Technologies, Inc. and FLM Asset Brokerage Service. To
the extent that the Terms of this addendum are in conflict with or inconsistent
with the printed lease, the terms of the addendum shall control.
1: During the term of this lease, the tenant shall maintain General Public
Liability Insurance insuring the interests of the Tenant and the Landlord as an
additional party insured with respect to claims in or about the leased premises
and property in amounts of not less than one million and 00/100 ($1,000,000.00)
dollars combined single limit bodily injury and property damage, including fire
legal liability. If the General Public Liability Insurance carrier shall for any
reason cancel any contract of insurance covering property damage, bodily injury,
or fire legal liability, the tenant will immediately notify the Landlord of such
effect. Tenant shall furnish to Landlord a certificate of such liability
insurance and renewal certificates.
It is expressly understood and agreed that all policies of insurance
shall contain a clause that the same shall not be canceled except on ten (10)
days written notice to any and all parties in interest, of such an endorsement
is available.
In the event the rate of fire insurance carried by the Landlord shall
be increased because of any change in occupancy or use of leased premises by the
tenant then such increase in cost of fire insurance shall be paid by Tenant to
Landlord after notice and demand in writing within ten (10) days of such notice.
2. Tenant expressly covenants and agrees to fully comply with the provisions of
the New Jersey Environmental Clean Up Responsibility Act (N.J.S.A. 13: 1K-6, Et.
Seq.) hereinafter referred to as "ECRA", and all regulations promulgated thereto
prior to the termination of the lease, or at any time that any action of the
Tenant triggers the applicability of ECRA. In particular, the Tenant agrees that
it shall comply with the provisions of ECRA in the event of any "Closing,
Terminating or Transferring" of Tenant's operations, as defined by and in
accordance with the regulations, which have been promulgated pursuant to ECRA.
In the event evidence of such compliance is not delivered to the Landlord prior
to surrender of the leased premises by the Tenant to the Landlord, it is
understood and agreed that the Tenant shall be liable to pay to the Landlord an
amount equal to two times the base rent then in effect. Together with all
applicable additional rent from the date of such surrender until such time as
evidence of compliance with ECRA has been delivered to the Landlord, and
together with any costs and expenses incurred by landlord in enforcing Tenant's
obligations under this paragraph, evidence of compliance, as used herein, shall
mean a "Letter of Non-Applicability" issued by the New Jersey Department of
Environmental Protection ("NJDEP"). An approved "Negative Declaration" or
Completion of a clean-up plan approved by NJDEP. Evidence of compliance shall be
delivered to the Landlord, together with copies of all submissions made to the
NJDEP, including all environmental reports, test results and other supporting
documentation. In addition to the above, Tenant agrees that it shall cooperate
with Landlord in the event ECRA is applicable to any portion of the property of
which the leased premises are a part. In such case, Tenant agrees that it shall
fully cooperate with Landlord in connection with any information or
documentation, which may be requested by the NJDEP. In the event that a cleanup
of the property is required in connection with the conduct by Tenant of its
business at the leased premises, Tenant expressly covenants and agrees that it
shall be responsible for that portion of the cleanup which is attributable to
the Tenant's operation. Tenant hereby represents and warrants that it's standard
industrial classification No. is ________, and that Tenant shall not generate,
manufacture, refine, transport, treat, store, handle or dispose of "hazardous
substances" as the same are defined under ECRA and the regulations promulgated
pursuant thereto, except in strict compliance with all governmental rule,
regulations and procedures. Tenant hereby agrees that it shall promptly inform
Landlord of any change in its SIC number or the nature of the business to be
conducted in the leased premises. The within covenants shall survive the
expiration or earlier termination of the lease term.
3. Payment of rent, common charges, maintenance charges and electricity usage
charges shall be due and payable on the first of each month. Any payments
received after the fifth of the month shall be subject to a 5% late fee on all
monies due.
4. Non-Disturbance: Tenant covenant and agrees that the noise and odor from its
operations will not, at any time during the term of the lease exceed reasonable
levels, so as to disturb other tenants in the building.
5. Provided that the Tenant is not then in default, the Tenant is granted an
option to renew this lease for one two (2) year term by providing written notice
to the Landlord no alter than two (2) months prior to the termination of the
lease.
Xxxx Laser Technologies, Inc.
Landlord
By: /s/_____________________
R-Tec Technologies, Inc.
Tenant
By: /s/ Xxxxxx Xxxxxx, President
--------------------------------
Xxxxxx Xxxxxx, President
