Exhibit 10.13
THIS LEASE AGREEMENT (hereinafter referred to as the "Agreement") made and
entered into this 25th day of July 2002, by and between Xxxxx Xxxxxxxxx of 0000
Xxxxxxxxx Xxx, Xxxxxx Xxxx NJ_(Lessor)_and MediscienceTechnoIogyCorp. (Lessee),
a New Jersey Publicly trading Corporation (MDSC-BB)
WITNESSETH:
WHEREAS, Lessor is the fee owner of certain real property being, lying and
situate in Camden County, such real property having a
streetaddressoi235FolkstoneWay Cherry Hill New Jersey.
WHEREAS, Lessor is desirous of leasing the Premises to Lessee upon the
terms and conditions as contained herein; and
WHEREAS, Lessee is desirous of leasing the Premises from Lessor on the
terms and conditions as contained herein; and
WHEREAS, the parties acknowledge this document as an confirmation of the
past and present existing lease understanding that is and has been in place
between the parties for the last 10 years, properly audited and reported as such
in each of lessees, (Mediscience Technology Corp.) SEC corporate 10-K filings--
incorporated herein by reference (see XXXXX SEC filings)
NOW, THEREFORE, for and in consideration of the covenants and obligations
contained herein and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto intending to be
bound under New Jersey Law hereby agree as follows:
1. TERM. Lessor leases to Lessee and Lessee leases from Lessor the
above described Premises together with any and all appurtenances
thereto, for a term: MONTH TO MONTH.
2. RENT. The total rent for the term hereof is the total unqualified
assumption by Lessee Mediscience Technology Corp. of all Taxes,
Maintenance, Insurance, Utilities and required repairs of whatsoever
nature to the property 0000 Xxxxxxxxx Xxx Xxxxxx Xxxx XX.
4. USE OF PREMISES. The Premises has been, is and shall continue to be
used and occupied by Lessee as its corporate offices, reported as
such in all Mediscience Corporate SEC filings, including New Jersey
NOL program documentation, (funding source)
5. CONDITION OF PREMISES. Lessee stipulates, represents and warrants
that Lessee has examined the Premises, and that they are at the time
of this Lease in good order, repair, and in a safe, clean and
tenantable condition.
6 UTILITIES. Lessee shall be responsible for arranging for and paying
for all utility sen/ices required on the Premises.
7 MAINTENANCE AND REPAIR; RULES. Lessee will, at its sole expense,
keep and maintain the Premises and appurtenances in good and
sanitary condition and repair during the term of this Agreement and
any renewal thereof. Without limiting the generality of the
foregoing, Lessee shall:
(b) Keep all windows, glass, window coverings, doors, locks and
hardware in good, clean order and repair;
(g) Keep and maintain all air conditioning operational
(h) Keep all lavatories, sinks, toilets, and all other water,
sewage and plumbing apparatus in good order and repair. Any
damage to any such apparatus and the cost of repairing and
maintaining plumbing capability shall be borne by Lessee;
8. DAMAGE TO PREMISES, in the event the Premises are destroyed or
rendered wholly un-tenantable by fire, storm, earthquake, or other
casualty not caused by the negligence of Lessee, this Agreement
shall terminate from such time except for the purpose of enforcing
rights that may have then accrued hereunder. The rental obligations
provided for herein shall then be accounted for by and between
Lessor and Lessee up to the time of such injury or destruction of
the Premises
9. SURRENDER OF PREMISES. Upon the expiration of the term hereof,
Lessee shall surrender the Premises in as good a state and condition
as they were at the commencement of this Agreement, reasonable use
and wear and tear thereof and damages by the elements excepted
10. DEFAULT. If Lessee fails to comply with any of the material
provisions of this Agreement and the default continues for seven (7)
days thereafter, Lessor may, at Lessor's option, exercise any and
all rights and remedies available to Lessor at law or in equity or
may immediately terminate this Agreement,
11. GOVERNING LAW. This Agreement shall be governed, construed and
interpreted by, through and under the Laws of the State of New
Jersey.
12. SEVERABILITY. If any provision of this Agreement or the application
thereof shall, for any reason and to any extent, be invalid or
unenforceable, neither the remainder of this Agreement nor the
application of the provision to other persons, entities or
circumstances shall be affected thereby, but instead shal! be
enforced to the maximum extent permitted by law.
13 BINDING EFFECT. The covenants, obligations and conditions herein
contained shall be binding on and inure to the benefit of the heirs,
legal representatives, and assigns of the parties hereto. 25.
13 CONSTRUCTION. The pronouns used herein shall include, where
appropriate, either gender or both, singular and plural.
14 NON-WAIVER. No indulgence, waiver, election or non-election by
Lessor under this Agreement shall affect Lessee's duties and
liabilities hereunder.
15 MODIFICATION, The parties hereby agree that this document contains
be modified, changed, altered or amended tn any way except through a
written amendment signed by all of the parties hereto.
IN WITNESS WHEREOF, the parties have executed this Agreement on and as of the
date first above written. July 25, 2002
XXXXX XXXXXXXXX ESQ.CHAIRMAN/CEO Lessor /s/ Xxxxx Xxxxxxxxx
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Xxxxx Xxxxxxxxx
XXXX X. XXXXXXX VICE Pres. DIRECTOR for
Mediscience Technology Corp. Lessee /s/ Xxxx Xxxxxxx
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Xxxx Xxxxxxx
XXXX XXXXXX, DIRECTOR for Mediscience Technology Corp. Lessee
/s/ Xxxx Xxxxxx
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Xxxx Xxxxxx
XXXXXXX XXXXXXXXX, DIRECTOR for Mediscience Technology Cop. Lessee
/s/ Xxxxxxx Xxxxxxxxx
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Xxxxxxx Xxxxxxxxx
for
/s/ Xxxxxx Xxxxxxxxx
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Xxxxxx Xxxxxxxxx
XXXXXX XXXXXXXXX, PRlES/COO, DIRECTOR
Mediscience Technology Corp. Lessee
