This Agreement BETWEEN
▇▇▇▇▇▇ INDUSTRIES, INC., a New York Corporation, with offices at ▇▇ ▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇,
as Landlord,
and
INFINITE TECHNOLOGY GROUP, LTD., a New York Corporation, with offices at ▇▇
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇,
as Tenant
Witnesseth: The Landlord hereby leases to the Tenant the following premises:
Approximately 5,220 square feet (the entire lower level) of premises ▇▇▇ ▇▇▇
▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, as shown on Exhibit "A" attached.
for the term of three (3) years to commence from the 1st day of February, 1996
and to end on the 31st day of January, 1999 to be used and occupied only for
storage, integration, and display of computer equipment.
upon the conditions and covenants following:
1st. That the tenant shall pay the annual rent as set forth in rider paragraph
28th.
2nd. That the Tenant shall take good care of the premises and shall, at the
Tenant's own cost and expense make all repairs except structural. and at the end
of other expiration of the term, shall deliver up the demised premises in good
order or condition, damages by the elements excepted.
3rd. That the Tenant shall promptly execute and comply with all statues,
ordinances, rules, orders, regulations and requirements of the Federal, State
and Local Governments and of any and all their Departments and Bureaus
applicable to said premises, for the correction, prevention, and abatement of
nuisances or other grievances, in, upon or connected with said premises during
said term; and shall also promptly comply with and execute all rules, orders and
regulations of the New York Board of Fire Underwriters, or any other similar
body, at the Tenant's own cost and expense.
4th. That the Tenant, successors, heirs, executors or administrators shall not
assign this agreement, or underlet or underlease the premises, or any part
thereof, or make any alterations on the premises, without the Landlord's consent
in writing; or occupy, or permit or suffer the same to be occupied for any
business or purpose deemed disreputable or extra-hazardous on account of fire,
under the penalty of damages and forfeiture, and in the event of a breach
thereof, the term herein shall immediately cease and determine at the option of
the Landlord as if it were the expiration of the original term.
5th. Tenant must give Landlord prompt notice of fire, accident, damage or
dangerous or defective condition. If the Premises can not be used because of
fire or other casualty, Tenant is not required to pay rent for the time the
Premises are unusable. If part of the Premises can not be used, Tenant must pay
rent for the usable part. Landlord shall have the right to decide which part of
the Premises is usable. Landlord need only repair the damaged structural parts
of the Premises. Landlord is not required to repair or replace any equipment,
fixtures, furnishings or decorations unless originally installed by Landlord.
Landlord is not responsible for delays due to settling insurance claims,
obtaining estimates, labor and supply problems or any other cause not fully
under Landlord's control.
If the fire or other casualty is caused by an act or neglect of Tenant,
Tenant's employees or invitees, or at the time of the fire or casualty Tenant is
in default in any term of this Lease, then all repairs will be made at Tenant's
expense and Tenant must pay the full rent with no adjustment. The cost of the
repairs will be added rent.
Landlord has the right to demolish or rebuild the building if there is
substantial damage by fire or other casualty. Landlord may cancel this Lease
within 30 days after the substantial fire or casualty by giving Tenant notice of
Landlord's intention to demolish or rebuild. The lease will end 30 days after
Landlord's cancellation notice to Tenant. Tenant must deliver the Premises to
Landlord on or before the cancellation date in the notice and pay all rent due
to the date of the fire or casualty. If the Lease is cancelled Landlord is not
required to repair the Premises or Building. The cancellation does not release
Tenant of liability in connection with the fire or casualty. This Section is
intended to replace the terms of New York Real Property Law Section 227.
6th. The said Tenant agrees that the said Landlord and the Landlord's agents and
other representatives shall have the right to enter into and upon said premises,
or any part thereof, at all reasonable hours for the purpose of examining the
same, or making such repairs or alterations therein as may be necessary for the
safety and preservation thereof.
7th. The Tenant also agrees to permit the Landlord or the Landlord's agents to
show the premises to persons wishing to hire or purchase the same; and the
Tenant further agrees that on and after the sixth month, next preceding the
expiration of the term hereby granted, the Landlord or the Landlord's agents
shall have the right to place notices on the front of said premises, or any part
thereof, offering the premises "To Let" or "For Sale", and the Tenant hereby
agrees to permit the same to remain thereon without hindrance or molestation.
8th. That if the said premises, or any part thereof shall be deserted or become
vacant during said term, or if any default be made in the payment of the said
rent or any part thereof, or if any default be made in the performance of any of
the covenants herein contained, the Landlord or representatives may re-enter the
said premises by force, summary proceedings or otherwise, and remove all persons
therefrom, without being liable to prosecution therefor, and the Tenant hereby
expressly waives the service of any notice in writing of intention to re-enter,
and the Tenant shall pay at the same time as the rent becomes payable under the
terms hereof a sum equivalent to the rent reserved herein, and the Landlord may
rent the premises on behalf of the Tenant, reserving the right to rent the
premises for a longer period of time than fixed in the original lease without
releasing the original Tenant from any liability, applying any moneys collected,
first to the expense of resuming or obtaining possession, second to restoring
the premises to a rentable condition, and then to the payment of the rent and
all other charges due and to grow due to the Landlord, any surplus to be paid to
the Tenant, who shall remain liable for any deficiency.
9th. Landlord may replace, at the expense of Tenant, any and all broken glass in
and about the demised premises. Landlord may insure, and keep insured, all plate
glass in the demised premises for and in the name of Landlord. Bills, for the
premiums therefor shall be rendered by Landlord to Tenant at such times as
Landlord may elect, and shall be due from, and payable by Tenant when rendered,
and the amount thereon shall be deemed to be, and be paid as, additional rental.
Damage and injury to the said premises, caused by the carelessness, negligence
or improper conduct on the part of the said Tenant or the Tenant's agents or
employees shall be repaired as speedily as possible by the Tenant at the
Tenant's own cost and expense.
13th. That if default be made in any of the covenants herein contained, then it
shall be lawful for the said Landlord to re-enter the said premises, and the
same to have again, re-possess and enjoy. The said Tenant hereby expressly
waives the service of any notice in writing of intention to re-enter.
14th. That this instrument shall not be a lien against said premises in respect
to any mortgages that are now on or that hereafter may be placed against said
premises, and that the recording of such mortgage or mortgages shall have
preference and precedence and be superior and prior in lien of this lease,
irrespective of the date of recording and the Tenant agrees to execute without
cost, any such instrument which may be deemed necessary or desirable to further
effect the subordination of this lease to any such mortgage or mortgages, and a
refusal to execute such instrument shall entitle the Landlord, or the Landlord's
assigns and legal representatives to the option of canceling this lease without
incurring any expense or damage and the term hereby granted is expressly limited
accordingly.
17th. It is expressly understood and agreed that in case the demised premises
shall be deserted or vacated, or if default be made in the payment of the rent
or any part thereof as herein specified, or if, without the consent of the
Landlord, the Tenant shall sell, assign, or mortgage this lease or if default be
made in the performance of any of the covenants and agreements in this lease
contained on the part of the Tenant to be kept and performed, or if the Tenant
shall fail to comply with any of the statutes, ordinances, rules, orders,
regulations and requirements of the Federal State and Local Governments or of
any and all their Departments and Bureaus, applicable to said premises, or if
the Tenant shall file or there be filed against Tenant a petition in bankruptcy
or arrangement, or Tenant be adjudicated a bankrupt or make an assignment for
the benefit of creditors or take advantage of any insolvency act, the Landlord
may, if the Landlord so elects, at any time thereafter terminate this lease and
the term hereof, on giving to the Tenant five days' notice in writing of the
Landlord's intention to do so, and this lease and the term hereof shall expire
and come to an end on the date fixed in such notice as if the said date were the
date originally fixed in this lease for the expiration hereof. Such notice may
be given by mail to the Tenant addressed to the demised premises.
19th. That the Tenant will not nor will the Tenant permit undertenants or other
persons to do anything in said premises, or bring anything into said premises,
or permit anything to be brought into said premises or to be kept therein, which
will in any way increase the rate of fire insurance on said demised premises,
nor use the demised premises or any part thereof, nor suffer or permit their use
for any business or purpose which would cause an increase in the rate of fire
insurance on said building, and the Tenant agrees to pay on demand any such
increase.
20th. The failure of the Landlord to insist upon a strict performance of any of
the terms, conditions and covenants herein, shall not be deemed a waiver of any
rights or remedies that the Landlord may have, and shall not be deemed a waiver
of any subsequent breach or default in the terms, conditions and covenants
herein contained. This instrument may not be changed, modified, discharged or
terminated orally.
21st. If the whole or any part of the demised premises shall be acquired or
condemned by Eminent Domain for any public or quasi public use or purpose, then
and in that event, the term of this lease shall cease and terminate from the
date of title vesting in such proceeding and Tenant shall have no claim against
Landlord for the value of any unexpired term of said lease. No part of any award
shall belong to the Tenant.
22nd. If after default in payment of rent or violation of any other provision of
this lease, or upon the expiration of this lease, the Tenant moves out or is
dispossessed and fails to remove any trade fixtures or other property prior to
such said default, removal, expiration of lease, or prior to the issuance of the
final order or execution of the warrant, then and in that event, the said
fixtures and property shall be deemed abandoned by the said Tenant and shall
become the property of the Landlord.
23rd. In the event that the relation of the Landlord and Tenant may cease or
terminate by reason of the re-entry of the Landlord under the terms and
covenants contained in this lease or by ejectment of the Tenant by summary
proceedings or otherwise, or after the abandonment of the premises by the
Tenant, it is hereby agreed that the Tenant shall remain liable and shall pay in
monthly payments the rent which accrues subsequent to the re-entry by the
Landlord, and the Tenant expressly agrees to pay as damages for the breach of
the covenants herein contained, the difference between the rent reserved and the
rent collected and received, if any, by the Landlord during the remainder of the
unexpired term, such difference or deficiency between the rent herein reserved
and the rent collected if any, shall become due and payable in monthly payments
during the remainder of the unexpired term, as the amounts of such difference or
deficiency shall from time to time be ascertained; and it is mutually agreed
between Landlord and Tenant that the respective parties hereto shall and hereby
do waive trial by jury in any action, proceeding or counterclaim brought by
either of the parties against the other on any matters whatsoever arising out of
or in any way connected with this lease, the Tenant's use or occupancy of said
premises, and/or any claim of injury or damage.
24th. The Tenant waives all rights to redeem under any law of the State of New
York.
25th. 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 a National
Emergency or in connection with any rule, order or regulation of any department
or subdivision thereof of any governmental agency or by reason of the condition
of supply and demand which have been or are affected by war or other emergency.
26th. No diminution or abatement of rent, or other compensation, shall be
claimed or allowed for inconvenience or discomfort arising from the making of
repairs or improvements to the building or to its appliances, nor for any space
taken to comply with any law, ordinance or order of a governmental authority. In
respect to the various "services," if any, herein expressly or impliedly agreed
to be furnished by the Landlord to the Tenant, it is agreed that there shall be
no diminution or abatement of the rent, or any other compensation, for
interruption or curtailment of such "service" when such interruption or
curtailment shall be due to accident, alterations or repairs desirable or
necessary to be made or to inability or difficulty in securing supplies or labor
for the maintenance of such "service" or to some other cause, not gross
negligence on the part of the Landlord. No such interruption or curtailment of
any such "service" shall be deemed a constructive eviction. The Landlord shall
not be required to furnish, and the Tenant shall not be entitled to receive, any
of such "services" during any period wherein the Tenant shall be in default in
respect to the payment of rent. Neither shall there be any abatement or
diminution of rent because of making of repairs, improvements or decorations to
the demised premises after the date above fixed for the commencement of the
term, it being understood that rent shall, in any event, commence to run at such
date so above fixed.
27th. Landlord shall not be liable for failure to give possession of the
premises upon commencement date by reason of the fact that premises are not
ready for occupancy or because a prior Tenant or any other person is wrongfully
holding over or is in wrongful possession, or for any other reason. The rent
shall not commence until possession is given or is available, but the term
herein shall not be extended.
See attached.
And the said Landlord doth covenant that the said Tenant on paying the
said yearly rent, and performing the covenants aforesaid, shall and may
peacefully and quietly have, hold and enjoy the said demised premises for the
term aforesaid, provided however, that this covenant shall be conditioned upon
the retention of title to the premises by the Landlord.
And it is mutually understood and agreed that the covenants and agreements
contained in the within lease shall be binding upon the parties hereto and upon
their respective successors, heirs, executors and administrators.
In Witness Whereof, the parties have interchangeably set their hands and
seals (or caused these presents to be signed by their proper corporate officers
and caused their proper corporate seal to be hereto affixed this day of
19
Signed, sealed and delivered ▇▇▇▇▇▇ INDUSTRIES, INC.
in the presence of BY:
L. S.
---------------------------------
▇▇▇▇▇▇ ▇▇▇▇▇
/s/ ▇▇▇▇▇▇ ▇▇▇▇▇, Pres. L. S.
---------------------------------
INFINITE TECHNOLOGY GROUP, LTD. L. S.
---------------------------------
BY: ▇▇▇▇▇ ▇▇▇▇▇▇▇
State of New York
}ss.:
County of
On the day of 19 , before me personally came
to me known and known to me to be the individual described in, and who executed,
the foregoing instrument, and acknowledged to me that he executed
the same.
State of New York
}ss.:
County of
On the day of 19 , before me personally came
to me known , who, being by me duly sworn, did depose and say that he resides at
No.
that he is the of
the corporation mentioned in, and which executed, the foregoing instrument; that
he knows the seal of said corporation; that the seal affixed to said instrument
is such corporate seal; that it was so affixed by order of the Board of
of said corporation; and that he signed his name thereto by
like order.
======================================
======================================
Lease
======================================
Dated, ___________________19
In Consideration of the letting of the premises within mentioned to the
within named Tenant and the sum of $1.00 paid to the undersigned by the within
named Landlord, the undersigned do hereby covenant and agree, to and with the
Landlord and the Landlord's legal representatives, that if default shall at any
time be made by the said Tenant in the payment of the rent and the performance
of the covenants contained in the within lease, on the Tenant's part to be paid
and performed, that the undersigned will well and truly pay the said rent, or
any arrears thereof, that may remain due unto the said Landlord, and also pay
all damages that may arise in consequence of the non-performance of said
covenants, or either of them, without requiring notice of any such default from
the said Landlord. The undersigned hereby waives all right to trial by jury in
any action or proceeding hereinafter instituted by the Landlord, to which the
undersigned may be a party.
In Witness Whereof, the undersigned has set hand and seal this day
of , 19
WITNESS
___________________________L.S.
EXHIBIT "A"
[DIAGRAM OF LOTS 478 TO 481 INCLUSIVE, ROOSEVELT PARK,
FLD., MINEOLA, NASSAU CO., N.Y.]
RIDER TO LEASE DATED:
BETWEEN, ▇▇▇▇▇▇ INDUSTRIES, INC., LANDLORD, -AND-
INFINITE TECHNOLOGY GROUP, LTD.
28th. The Tenant shall pay during the following periods, the following annual
fixed rent, in the following monthly installments, in advance of the first day
of each and every month:
ANNUAL MONTHLY
PERIOD FIXED RENT INSTALLMENTS
----------------------------------------------------------------
Feb 1,1996 thru Jan 31,1997 $ 30,000.00 $ 2,500.00
Feb 1,1997 thru Jan 31,1998 31,500.00 2,625.00
Feb 1,1998 thru Jan 31,1999 33,075.00 2,756.25
29th The Tenant shall pay as additional rent hereunder:
a) 50% of any increase in the real estate taxes levied against the
building and lot known as ▇▇▇ ▇▇▇ ▇▇▇▇▇, Mineola of which the demised premises
is a part, which increase exceeds the General Tax for the year January 1, 1996
to December 31, 1996, the School Tax for the fiscal year July 1, 1996 to June
30, 1997; and the Village Tax for the fiscal year June 1, 1996 to May 31, 1997;
and 50% of any other tax or assessment that may be levied against said building
and lot.
b) If the names, lien dates or items included in the real estate taxes now
assessed against the parcels of which the demised premises form a part, are
changed during the term of this lease, the tenant shall pay the aforesaid
proportionate shares of the amounts by which the total real estate taxes paid by
the Landlord, by whatever name such tax is called or periods covered, shall
exceed the total amount now paid by the Landlord for the three taxes and base
years set forth above.
c) Any such increase in taxes shall be paid as additional rent, in advance
of the lien dates of any such tax, upon presentation to the Tenant of a copy of
the ▇▇▇▇ showing the tax due. Upon the Tenant's failure to pay any additional
rent as billed by the Landlord, the Landlord may collect same as provided for
herein and as provided by law. If Landlord receives a refund by reason of
protesting the tax assessment, tenant shall receive its proportionate share of
additional rent refunded.
30th During the term of this lease Tenant shall at it's
sole cost and expense, provide and keep in force, comprehensive public liability
insurance including property damage, insuring Landlord and Tenant against
liability for injury or damage to persons or property incurred in or about the
demised premises or arising out of the ownership, maintenance, use or occupation
thereof. Such policy shall be written by good and reputable solvent insurance
companies, shall name the Landlord as an additional insured, and shall be for
not less than $500,000.00 coverage in respect to any one person and not less
than $1,000,000.00 coverage in respect to any one accident, and shall further
provide that such policy will not be cancelled without at least fifteen (15)
days prior written notice to the Landlord.
At or prior to the commencement of this lease and at least fifteen (15)
days prior to the expiration of any such policy, Tenant shall deliver to
Landlord an appropriate Certificate of Insurance evidencing the existence and
continuation of the required coverage. Upon Tenant's failure to comply in full
with these provisions the Landlord shall have the right to secure or pay the
charges for any such policy and charge the Tenant as additional rent therefore.
Tenant shall indemnify and hold Landlord harmless from and against any and
all liabilities, obligations, damages, penalties, claims, costs and expenses for
which Landlord shall not be reimbursed by insurance, suffered or incurred as a
result of any breach by the Tenant of any covenant or condition of this lease.
31st Tenant acknowledges that Landlord has made no representations as to the
physical condition, operation or any other matter relating to the demised
premises; that Tenant has had full opportunity and has made a thorough
inspection of the premises and is familiar with same: and Tenant agrees to
accept delivery of the premises in their present "as is" condition.
32nd Tenant will pay for the electricity, water and gas for heating, used in the
demised premises; shall maintain and pay the cost of a service contract on the
heating and air conditioning systems; and shall also pay for its own rubbish
removal and janitorial
services.
33rd Tenant shall have the use of two reserved parking spaces in the parking lot
of the demised premises.
Landlord shall keep the parking areas and entrances free of snow and
debris.
34th If Landlord institutes any proceeding or any action against the tenant for
breach of the terms and conditions of this lease, Landlord shall be entitled to
reimbursement for all the costs and expenses incurred including reasonable
attorney's fees.
35th Tenant at its sole expense shall supply proportionate share of matching
signage on the outside of the building.
▇▇▇▇▇▇ INDUSTRIES, INC.
by /s/ ▇▇▇▇▇▇ ▇▇▇▇▇, Pres.
-------------------------------
INFINITE TECHNOLOGY GROUP, LTD.
by /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
-------------------------------
EXTENTION OF LEASE AGREEMENT
AGREEMENT made this 1st day of April 1999, between ▇▇▇▇▇▇ INDUSTRIES,
INC., a New York corporation, with offices at ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇
▇▇▇▇ ▇▇▇▇▇, (Landlord), and INFINITE TECHNOLOGY GROUP, LTD. A New York
corporation, with offices at ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇,
(Tenant).
W I T N E S S E T H:
WHEREAS, the parties hereto entered into a Lease Agreement covering
approximately 5,220 square feet (entire lower level) of premises ▇▇▇ ▇▇▇ ▇▇▇▇▇,
▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, for a period of three (3) years commencing February 1,
1996 and terminating on January 31, 1999, and
WHEREAS, the parties are desirous of extending the aforesaid Lease under
the terms and conditions hereinafter set forth,
NOW, THEREFORE, in consideration of the mutual covenants herein contained,
and those in the stated Lease, the parties hereby agree as follows:
FIRST: The term of the extended Lease shall commence on February 1, 1999
and terminate on January 31, 2002.
SECOND: The Tenant shall pay during the following period, the following
annual fixed rent, in the following monthly installments, in advance of the
first day of each and every month:
ANNUAL MONTHLY
PERIOD FIXED RENT INSTALLMENTS
------ ---------- ------------
February 1, 1999-January 31, 2000 $34,067.28 $2,838.94
February 1, 1000-January 31, 2001 $35,089.32 $2,924.11
February 1, 2001-January 31, 2002 $36,141.96 $3,011.83
THIRD: That except as modified by this extension agreement, all of the
terms and conditions of the original Lease, shall apply during the extended term
herein granted.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement the
day and year first written above.
▇▇▇▇▇▇ INDUSTRIES, INC.
by /s/ ▇▇▇▇▇▇ ▇▇▇▇▇, Pres.
-------------------------------
▇▇▇▇▇▇ ▇▇▇▇▇
INFINITE TECHNOLOGY GROUP, LTD.
by /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
-------------------------------
THIS AGREEMENT BETWEEN
▇▇▇▇▇▇ INDUSTRIES, INC., a New York Corporation, with offices at ▇▇ ▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇,
as Landlord,
and
INFINITE TECHNOLOGY GROUP, LTD., a New York Corporation, with offices at ▇▇
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇,
as Tenant
Witnesseth: The Landlord hereby leases to the Tenant the following premises:
Approximately 2,400 square feet on the upper level of premises ▇▇ ▇▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, as shown on Exhibit "A" attached,
for the term of two (2) years
to commence from the 1st day of March, 1997, and to end on the
28th day of February, 1999, to be used and occupied only for
offices, storage, integration and display of computer equipment,
upon the conditions and covenants following:
1st. That the tenant shall pay the annual rent as set forth in rider paragraph
28th.
2nd. That the Tenant shall take good care of the premises and shall, at the
Tenant's own cost and expense make all repairs except structural
and at the end of other expiration of the term, shall deliver up the demised
premises in good order or condition, damages by the elements excepted.
3rd. That the Tenant shall promptly execute and comply with all statutes,
ordinances, rules, orders, regulations and requirements of the Federal, State
and Local Governments and of any and all their Departments and Bureaus
applicable to said premises, for the correction, prevention, and abatement of
nuisances or other grievances, in, upon, or connected with said premises during
said term; and shall also promptly comply with and execute all rules, orders and
regulations of the New York Board of Fire Underwriters, or any other similar
body, at the Tenant's own cost sand expense.
4th. That the Tenant, successors, heirs, executors or administrators shall not
assign this agreement, or underlet or underlease the premises, or any part
thereof, or make any alterations on the premises, without the Landlord's consent
in writing; or occupy, or permit or suffer the same to be occupied for any
business or purpose deemed disreputable or extra-hazardous on account of fire,
under the penalty of damages and forfeiture, and in the event of a breach
thereof, the term herein shall immediately cease and determine at the option of
the Landlord as if it were the expiration of the original term.
5th. Tenant must give Landlord prompt notice of fire, accident, damage or
dangerous or defective condition. If the Premises cannot be used because of fire
or other casualty, Tenant is not required to pay rent for the time the Premises
are unusable. If part of the Premises can not be used, Tenant must pay rent for
the usable part. Landlord shall have the right to decide which part of the
Premises is usable. Landlord need only repair the damaged structural parts of
the Premises. Landlord is not required to repair or replace any equipment,
fixtures, furnishings or decorations unless originally installed by Landlord.
Landlord is not responsible for delays due to settling insurance claims,
obtaining estimates, labor and supply problems or any other cause not fully
under Landlord's control.
If the fire or other casualty is caused by an act or neglect of Tenant,
Tenant's employees or invitees, or at the time of the fire or casualty Tenant is
in default in any term of this Lease, then all repairs will be made at Tenant's
expense and Tenant must pay the full rent with no adjustment. The cost of the
repairs will be added rent.
Landlord has the right to demolish or rebuild the building if there is
substantial damage by fire or other casualty. Landlord may cancel this Lease
within 30 days after the substantial fire or casualty by giving Tenant notice of
Landlord's intention to demolish or rebuild. The lease will end 30 days after
Landlord's cancellation notice to Tenant. Tenant must deliver the Premises to
Landlord on or before the cancellation date in the notice and pay all rent due
to the date of the fire or casualty. If the Lease is cancelled Landlord is not
required to repair the Premises or Building. The cancellation does not release
Tenant of liability in connection with the fire or casualty. This Section is
intended to replace the terms of New York Real Property Law Section 227.
6th. The said Tenant agrees that the said Landlord and the Landlord's agents and
other representatives shall have the right to enter into and upon said premises,
or any part thereof, at all reasonable hours for the purpose of examining the
same, or making such repairs or alterations therein as may be necessary for the
safety and preservation thereof.
7th. The Tenant also agrees to permit the Landlord or the Landlord's agents to
show the premises to persons wishing to hire or purchase the same; and the
Tenant further agrees that on and after the sixth month, next preceding the
expiration of the term hereby granted, the Landlord or the Landlord's agents
shall have the right to place notices on the front of said premises, or any part
thereof, offering the premises "To Let" or "For Sale", and the Tenant hereby
agrees to permit the same to remain thereon without hindrance or molestation.
8th. That if the said premises, or any part thereof shall be deserted or become
vacant during said term, or if any default be made in the payment of the said
rent or any part thereof, or if any default be made in the performance of any of
the covenants herein contained, the Landlord or representatives may re-enter the
said premises by force, summary proceedings or otherwise, and remove all persons
therefrom, without being liable to prosecution therefor, and the Tenant hereby
expressly waives the service of any notice in writing of intention to re-enter,
and the Tenant shall pay at the same time as the rent becomes payable under the
terms hereof a sum equivalent to the rent reserved herein, and the Landlord may
rent the premises on behalf of the Tenant, reserving the right to rent the
premises for a longer period of time than fixed in the original lease without
releasing the original Tenant from any liability, applying any moneys collected,
first to the expense of resuming or obtaining possession, second to restoring
the premises to a rentable condition, and then to the payment of the rent and
all other charges due and to grow due to the Landlord, any surplus to be paid to
the Tenant, who shall remain liable for any deficiency.
9th. Landlord may replace, at the expense of Tenant, any and all broken glass in
and about the demised premises. Landlord may insure, and keep insured, all plate
glass in the demised premises for and in the name of Landlord. Bills, for the
premiums therefor shall be rendered by Landlord to Tenant at such times as
Landlord may elect, and shall be due from, and payable by Tenant when rendered,
and the amount thereon shall be deemed to be, and be paid as, additional rental.
Damage and injury to the said premises, caused by the carelessness, negligence
or improper conduct on the part of the said Tenant or the Tenant's agents or
employees shall be repaired as speedily as possible by the Tenant at the
Tenant's own cost and expense.
12th. That the Landlord is exempt from any and all liability for any damage or
injury to person or property caused by or resulting from steam, electricity,
gas, water, rain, ice or snow, or any leak or flow from or into any part of said
building or from any damage or injury resulting or arising from any other cause
or happening whatsoever unless said damage or injury be caused by or be due to
the negligence of the Landlord.
13th. That if default be made in any of the covenants herein contained, then it
shall be lawful for the said Landlord to re-enter the said premises, and the
same to have again, re-possess and enjoy. The said Tenant hereby expressly
waives the service of any notice in writing of intention to re-enter.
14th. That this instrument shall not be a lien against said premises in respect
to any mortgages that are now on or that hereafter may be placed against said
premises, and that the recording of such mortgage or mortgages shall have
preference and precedence and be superior and prior in lien of this lease,
irrespective of the date of recording and the Tenant agrees to execute without
cost, any such instrument which may be deemed necessary or desirable to further
effect the subordination of this lease to any such mortgage or mortgages, and a
refusal to execute such instrument shall entitle the Landlord, or the Landlord's
assigns and legal representatives to the option of canceling this lease without
incurring any expense or damage and the term granted is expressly limited
accordingly.
17th. It is expressly understood and agreed that in case the demised premises
shall be deserted or vacated, or if default be made in the payment of the rent
or any part thereof as herein specified, or if, without the consent of the
Landlord, the Tenant shall sell, assign, or mortgage this lease or if default be
made in the performance of any of the covenants and agreements in this lease
contained on the part of the Tenant to be kept and performed, or if the Tenant
shall fail to comply with any of the statutes, ordinances, rules, orders,
regulations and requirements of the Federal, State and Local Governments or of
any and all their Departments and Bureaus, applicable to said premises, or if
the Tenant shall file or there be filed against Tenant a petition in bankruptcy
or arrangement, or Tenant be adjudicated a bankrupt or make an assignment for
the benefit of creditors or take advantage of any insolvency act, the Landlord
may, if the Landlord so elects, at any time thereafter terminate this lease and
the term hereof, on giving to the Tenant five days' notice in writing of the
Landlord's intention so to do, and this lease and the term hereof shall expire
and come to an end on the date fixed in such notice as if the said date were the
date originally fixed in this lease for the expiration hereof. Such notice may
be given by mail to the Tenant addressed to the demised premises.
19th. That the Tenant will not nor will the Tenant permit undertenants or other
persons to do anything in said premises, or bring anything into said premises,
or permit anything to be brought into said premises or to be kept therein, which
will in any way increase the rate of fire insurance on said demised premises,
nor use the demised premises or any part thereof, nor suffer or permit their use
for any business or purpose which would cause an increase in the rate of fire
insurance on said building, and the Tenant agrees to pay on demand any such
increase.
20th. The failure of the Landlord to insist upon a strict performance of any of
the terms, conditions and covenants herein, shall not be deemed a waiver of any
rights or remedies that the Landlord may have, and shall not be deemed a waiver
of any subsequent breach or default in the terms, conditions and covenants
herein contained. This instrument may not be changed, modified, discharged or
terminated orally.
21st. If the whole or any part of the demised premises shall be acquired or
condemned by Eminent Domain for any public or quasi public use or purpose, then
and in that event, the term of this lease shall cease and terminate from the
date of title vesting in such proceeding and Tenant shall have no claim against
Landlord for the value of any unexpired term of said lease. No part of any award
shall belong to the Tenant.
22nd. If after default in payment of rent or violation of any other provision of
this lease, or upon the expiration of this lease, the Tenant moves out or is
dispossessed and fails to remove any trade fixtures or other property prior to
such said default, removal, expiration of lease, or prior to the issuance of the
final order or execution of the warrant, then and in that event, the said
fixtures and property shall be deemed abandoned by the said Tenant and shall
become the property of the Landlord.
23rd. In the event that the relation of the Landlord and Tenant may cease or
terminate by reason of the re-entry of the Landlord under the terms and
covenants contained in this lease or by ejectment of the Tenant by summary
proceedings or otherwise, or after the abandonment of the premises by the
Tenant, it is hereby agreed that the Tenant shall remain liable and shall pay in
monthly payments the rent which accrues subsequent to the re-entry by the
Landlord, and the Tenant expressly agrees to pay as damages for the breach of
the covenants herein contained, the difference between the rent reserved and the
rent collected and received, if any, by the Landlord during the remainder of the
unexpired term, such difference or deficiency between the rent herein reserved
and the rent collected if any, shall become due and payable in monthly payments
during the remainder of the unexpired term, as the amounts of such difference or
deficiency shall from time to time be ascertained; and it is mutually agreed
between Landlord and Tenant that the respective parties hereto shall and hereby
do waive trial by jury in any action, proceeding or counterclaim brought by
either of the parties against the other on any matters whatsoever arising out of
or in any way connected with this lease, the Tenant's use or occupancy of said
premises, and/or any claim of injury or damage.
24th. The Tenant waives all rights to redeem under any law of the State of New
York.
25th. 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 a National
Emergency or in connection with any rule, order or regulation of any department
or subdivision thereof of any governmental agency or by reason of the condition
of supply and demand which have been or are affected by war or other emergency.
26th. No diminution or abatement of rent, or other compensation, shall be
claimed or allowed for inconvenience or discomfort arising from the making of
repairs or improvements to the building or to its appliances, nor for any space
taken to comply with any law, ordinance or order of a governmental authority. In
respect to the "services," if any, herein expressly or impliedly agreed to be
furnished by the Landlord to the Tenant, it is agreed that there shall be no
diminution or abatement of the rent, or any other compensation, for interruption
or curtailment of such "service" when such interruption or curtailment shall be
due to accident, alterations or repairs desirable or necessary to be made or to
inability or difficulty in securing supplies or labor for the maintenance of
such "service" or to some other cause, not gross negligence on the part of the
Landlord. No such interruption or curtailment of any such "service" shall be
deemed a constructive eviction. The landlord shall not be required to furnish,
and the Tenant shall not be entitled to receive, any of such "services" during
any period wherein the Tenant shall be in default in respect to the payment of
rent. Neither shall there be any abatement or diminution of rent because of
making of repairs, improvements or decorations to the demised premises after the
date above fixed for the commencement of the term, it being understood that rent
shall, in any event, commence to run at such date so above fixed.
27th. Landlord shall not be liable for failure to give possession of the
premises upon commencement date by reason of the fact that premises are not
ready for occupancy or because a prior Tenant or any other person is wrongfully
holding over or is in wrongful possession, or for any other reason. The rent
shall not commence until posession is given or is available, but the term herein
shall not be extended.
See attached.
And the said Landlord doth covenant that the said Tenant on paying the
said yearly rent, and performing the covenants aforesaid, shall and may
peacefully and quietly have, hold and enjoy the said demised premises for the
term aforesaid, provided however, that this covenant shall be conditioned upon
the retention of title to the premises by the Landlord.
And it is mutually understood and agreed that the covenants and agreements
contained in the within lease shall be binding upon the parties hereto and upon
their respective successors, heirs, executors and administrators.
In Witness Whereof, the parties have interchangeably set their hands and
seals (or caused these presents to be signed by their proper corporate officers
and caused their proper corporate seal to be hereto affixed) this day of
19
Signed, sealed and delivered
in the presence of ▇▇▇▇▇▇ INDUSTRIES, INC.
BY:
----------------------------------L. S.
▇▇▇▇▇▇ ▇▇▇▇▇
----------------------------------L. S.
INFINITE TECHNOLOGY GROUP, LTD.
BY:
----------------------------------L. S.
State of New York )
) SS.:
County of )
On the day of 19 , before me personally
came to me known and known to me to be the individual
described in, and who executed, the foregoing instrument, and acknowledged to me
that he executed the same.
State of New York )
) SS.:
County of )
On the day of 19 , before me personally came
to me known, who, being duly sworn, did depose and say the
he resides at No. that he is the of the
corporation mentioned in, and which executed, the foregoing instrument; that
he knows the seal of said corporation; that the seal affixed to said
instrument is such corporate seal; that it was so affixed by order of the Board
of of said corporation; and that he signed h name thereto
by like order.
================================================================================
================================================================================
Lease
================================================================================
Dated, __________________ 19
In Consideration of the letting of the premises within mentioned to the
within named Tenant and the sum of $1.00 paid to the undersigned by the within
named Landlord, the undersigned do hereby covenant and agree, to and
with the Landlord and the Landlord's legal representatives, that if default
shall at any time be made by the said Tenant in the payment of the rent and the
performance of the covenants contained in the within lease, on the Tenant's part
to be paid and performed, that the undersigned will well and truly pay the said
rent, or any arrears thereof, that may remain due unto the said Landlord, and
also pay all damages thay may arise in consequence of the non-performance of
said covenants, or either of them, without requiring notice of any such default
from the said Landlord. The undersigned hereby waives all rights to trial by
jury in any action or proceeding hereinafter instituted by the Landlord, to
which the undersigned may be a party.
In Witness Whereof, the undersigned ha set hand and seal this
day of , 19
WITNESS
----------------------------------------L.S.
Exhibit "A"
[Diagram of ▇▇▇▇▇ ▇▇▇▇▇ ▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇., ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇]
RIDER TO LEASE DATED:
BETWEEN, ▇▇▇▇▇▇ INDUSTRIES, INC., LANDLORD, -AND-
INFINITE TECHNOLOGY GROUP, LTD.
28TH. The Tenant shall pay during the following periods, the following annual
fixed rent, in the following monthly installments, in advance of the first day
of each and every month:
ANNUAL MONTHLY
PERIOD FIXED RENT INSTALLMENTS
------ ----------- ------------
Mar 1, 1997 thru Feb 28, 1998 $21,600.00 $ 1,800.00
Mar 1, l998 thru Feb 28, 1999 22,680.00 1,890.00
29th The Tenant shall pay as additional rent hereunder:
a) 25% of any increase in the real estate taxes levied against the
building and lot known as ▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, of which the demised premises is
a part, which increase exceeds the General Tax for the year January 1, 1997 to
December 31, 1997, the School Tax for the fiscal year July 1, 1996 to June 30,
1997; and the Village Tax for the fiscal year June 1, 1996 to May 31, 1997; and
25% of any other tax or assessment that may be levied against said building and
lot.
b) If the names, lien dates or items included in the real estate taxes now
assessed against the parcels of which the demised premises form a part, are
changed during the term of this lease, the tenant shall pay the aforesaid
proportionate shares of the amounts by which the total real estate taxes paid by
the Landlord, by whatever name such tax is called or periods covered, shall
exceed the total amount now paid by the Landlord for the three taxes and base
years set forth above.
c) Any such increase in taxes shall be paid as additional rent, in advance
of the lien dates of any such tax, upon presentation to the Tenant of a copy of
the ▇▇▇▇ showing the tax due. Upon the Tenant's failure to pay any additional
rent as billed by the Landlord, the Landlord may collect same as provided for
herein and as provided by law. If Landlord receives a refund by reason of
protesting the tax assessment, tenant shall receive its proportionate share of
additional rent refunded.
30th During the term of this lease Tenant shall at it's
sole cost and expense, provide and keep in force, comprehensive public liability
insurance including property damage, insuring Landlord and Tenant against
liability for injury or damage to persons or property incurred in or about the
demised premises or arising out of the ownership, maintenance, use or occupation
thereof. Such policy shall be written by good and reputable solvent insurance
companies, shall name the Landlord as an additional insured, and shall be for
not less than $500,000.00 coverage in respect to any one person and not less
than $1,000,000.00 coverage in respect to any one accident, and shall further
provide that such policy will not be cancelled without at least fifteen (15)
days prior written notice to the Landlord.
At or prior to the commencement of this lease and at least fifteen (15)
days prior to the expiration of any such policy, Tenant shall deliver to
Landlord an appropriate Certificate of Insurance evidencing the existence and
continuation of the required coverage. Upon Tenant's failure to comply in full
with these provisions the Landlord shall have the right to secure or pay the
charges for any such policy and charge the Tenant as additional rent therefore.
Tenant shall indemnify and hold Landlord harmless from and against any and
all liabilities, obligations, damages, penalties, claims, costs and expenses for
which Landlord shall not be reimbursed by insurance, suffered or incurred as a
result of any breach by the Tenant of any covenant or condition of this lease.
31st Tenant acknowledges that Landlord has made no representations as to the
physical condition, operation or any other matter relating to the demised
premises; that Tenant has had full opportunity and has made a thorough
inspection of the premises and is familiar with same; and Tenant agrees to
accept delivery of the premises in their present "as is" condition.
32nd Tenant will pay for the electricity, water and fuel oil used in the demised
premises; shall maintain and pay the cost of a service contract on the heating
and air conditioning systems; and shall also pay for its own rubbish removal and
janitorial
services.
33rd Tenant shall have the use of two reserved parking spaces at the end of
Washington Avenue.
Landlord shall keep the parking areas and entrances free of snow and
debris.
34th If Landlord institutes any proceeding or any action against the tenant for
breach of the terms and conditions of this lease, Landlord shall be entitled to
reimbursement for all the costs and expenses incurred including reasonable
attorney's fees.
35th Landlord at its sole expense shall supply to Tenant its proportionate share
of matching signage on the outside of the building.
▇▇▇▇▇▇ INDUSTRIES, INC.
by ___________________________
INFINITE TECHNOLOGY GROUP, LTD.
by ___________________________
THIS AGREEMENT BETWEEN
▇▇▇▇▇▇ INDUSTRIES, INC., a New York Corporation, with offices at ▇▇ ▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇,
as Landlord
and
INFINITE TECHNOLOGY GROUP, LTD., a New York Corporation, with offices at ▇▇
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇,
as Tenant
WITNESSETH: The Landlord hereby leases to the Tenant the following premises:
Approximately 5,500 square feet (entire lower level) of premises ▇▇ ▇▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, as shown on Exhibit "A" attached.
for the term of three (3) years
to commence from the 1st day of August, 1996, and to end on the
31st day of July, l999, to be used and occupied only for offices, storage,
integration and display of computer equipment,
upon the conditions and covenants following:
1st. That the Tenant shall pay the annual rent as set forth in rider paragraph
28th.
2nd. That the Tenant shall take good care of the premises and shall, at the
Tenant's own cost and expense make all repairs except structural.
and at the end or other expiration of the term, shall deliver up the demised
premises in good order or condition, damages by the elements excepted.
3rd. That the Tenant shall promptly execute and comply with all statues,
ordinances, rules, orders, regulations and requirements of the Federal, State
and Local Governments and of any and all their Departments and Bureaus
applicable to said premises, for the correction, prevention, and abatement of
nuisances or other grievances, in, upon or connected with said premises during
said term; and shall also promptly comply with and execute all rules, orders and
regulations of the New York Board of Fire Underwriters, or any other similar
body, at the Tenant's own cost sand expense.
4th. That the Tenant, successors, heirs, executors or administrators shall not
assign this agreement, or underlet or underlease the premises, or any part
thereof, or make any alterations on the premises, without the Landlord's consent
in writing; or occupy or permit or suffer the same to be occupied for any
business or purpose deemed disreputable or extra-hazardous on account of fire,
under the penalty of damages and forfeiture, and in the event of a breach
thereof, the term herein shall immediately cease and determine at the option of
the Landlord as if it were the expiration of the original term.
5th. Tenant must give Landlord prompt notice of fire, accident, damage or
dangerous or defective condition. If the Premises can not be used because of
fire or other casualty, Tenant is not required to pay rent for the time the
Premises are unusable. If part of the Premises can not be used, Tenant must pay
rent for the usable part. Landlord shall have the right to decide which part of
the Premises is usable. Landlord need only repair the damaged structural parts
of the Premises. Landlord is not required to repair or replace any equipment,
fixtures, furnishings or decorations unless originally installed by Landlord.
Landlord is not responsible for delays due to settling insurance claims,
obtaining estimates, labor and supply problems or any other cause not fully
under Landlord's control.
If the fire or other casualty is caused by an act or neglect of Tenant,
Tenant's employees or invitees, or at the time of the fire or casualty Tenant is
in default in any term of this Lease, then all repairs will be made at Tenant's
expense and Tenant must pay the full rent with no adjustment. The cost of the
repairs will be added rent.
Landlord has the right to demolish or rebuild the building if there is
substantial damage by fire or other casualty. Landlord may cancel this Lease
within 30 days after the substantial fire or casualty by giving Tenant notice of
Landlord's intention to demolish or rebuild. The Lease will end 30 days after
Landlord's cancellation notice to Tenant. Tenant must deliver the Premises to
Landlord on or before the cancellation date in the notice and pay all rent due
to the date of the fire or casualty. If the Lease is cancelled Landlord is not
required to repair the Premises or Building. The cancellation does not release
Tenant of liability in connection with the fire or casualty. This Section is
intended to replace the terms of New York Real Property Law Section 227.
to enter into and upon said premises, or any part thereof, at all reasonable
hours for the purpose of examining the same, or making such repairs or
alterations therein as may be necessary for the safety and preservation thereof.
7th. The Tenant also agrees to permit the Landlord or the Landlord's agents to
show the premises to persons wishing to hire or purchase the same; and the
Tenant further agrees that on and after the sixth month, next preceding the
expiration of the term hereby granted, the Landlord or the Landlord's agents
shall have the right to place notices on the front of said premises, or any part
thereof, offering the premises "To Let" or "For Sale", and the Tenant hereby
agrees to permit the same to remain thereon without hindrance or molestation.
8th. That if the said premises, or any part thereof shall be deserted or become
vacant during said term, or if any default be made in the payment of the said
rent or any part thereof, or if any default be made in the performance of any of
the covenants herein contained, the Landlord or representatives may re-enter the
said premises by force, summary proceedings or otherwise, and remove all persons
therefrom, without being liable to prosecution therefor, and the Tenant hereby
expressly waives the service of any notice in writing of intention to re-enter,
and the Tenant shall pay at the same time as the rent becomes payable under the
terms hereof a sum equivalent to the rent reserved herein, and the Landlord may
rent the premises on behalf of the Tenant, reserving the right to rent the
premises for a longer period of time than fixed in the original lease without
releasing the original Tenant from any liability, applying any moneys collected,
first to the expense of resuming or obtaining possession, second to restoring
the premises to a rentable condition, and then to the payment of the rent and
all other charges due and to grow due to the Landlord, any surplus to be paid to
the Tenant, who shall remain liable for any deficiency.
9th. Landlord may replace, at the expense of Tenant, any and all broken glass in
and about the demised premises. Landlord may insure, and keep insured, all place
glass in the demised premises for and in the name of Landlord. Bills, for the
premiums therefor shall be rendered by Landlord to Tenant at such times as
Landlord may elect, and shall be due from, and payable by Tenant when rendered,
and the amount thereon shall be deemed to be, and be paid as, additional rental.
Damage and injury to the said premises, caused by the carelessness, negligence
or improper conduct on the part of the said Tenant or the Tenant's agents or
employees shall be repaired as speedily as possible by the Tenant at the
Tenant's own cost and expense.
13th. That if default be made in any of the covenants herein contained, then it
shall be lawful for the said Landlord to re-enter the said premises, and the
same to have again, re-possess and enjoy. The said Tenant hereby expressly
waives the service of any notice in writing of intention to re-enter.
14th. That this instrument shall not be a lien against said premises in respect
to any mortgages that are now on or that hereinafter may be placed against said
premises, and that the recording of such mortgage or mortgages shall have
preference and precedence and be superior and prior in lien of this lease,
irrespective of the date of recording and the Tenant agrees to execute without
cost, any such instrument which may be deemed necessary or desirable to further
effect the subordination of this lease to any such mortgage or mortgages, and a
refusal to execute such instrument shall entitle the Landlord, or the Landlord's
assigns and legal representatives to the option of cancelling this lease without
incurring any expense or damage and the term hereby granted is expressly limited
accordingly.
17th. It is expressly understood and agreed that in case the demised premises
shall be deserted or vacated, or if default be made in the payment of the rent
or any part thereof as herein specified, or if, without the consent of the
Landlord, the Tenant shall sell, assign, or mortgage this lease or if default be
made in the performance of any of the covenants and agreements in this lease
contained on the part of the Tenant to be kept and performed, or if the Tenant
shall fail to comply with any of the statutes, ordinances, rules, orders,
regulations and requirements of the Federal, State and Local Governments or of
any and all their Departments and Bureaus, applicable to said premises, or if
the Tenant shall file or there be filed against Tenant a petition in bankruptcy
or arrangement, or Tenant be adjudicated a bankrupt or make an assignment for
the benefit of creditors or take advantage of any insolvency act, the Landlord
may, if the Landlord so elects, at any time thereafter terminate this lease and
the term hereof, on giving to the Tenant five days' notice in writing of the
Landlord's intention so to do, and this lease and the term hereof shall expire
and come to an end on the date fixed in such notice as if the said ate were the
date originally fixed in this lease for the expiration hereof. Such notice may
be given by mail to the Tenant addressed to the demised premises.
19th. That the Tenant will not nor will the Tenant permit undertenants or other
persons to do anything in said premises, or bring anything into said premises,
or permit anything to be brought into said premises or to be kept therein, which
will in any way increase the rate of fire insurance on said demised premises,
nor use the demised premises or any part thereof, nor suffer or permit their use
for any business or purpose which would cause an increase in the rate of fire
insurance on said building, and the Tenant agrees to pay on demand any such
increase.
20th. The failure of the Landlord to insist upon a strict performance of any of
the terms, conditions and covenants herein, shall not be deemed a waiver of any
rights or remedies that the Landlord my have, and shall not be deemed a waiver
of any subsequent breach or default in the terms, conditions and covenants
herein contained. This instrument may not be changed, modified, discharged or
terminated orally.
21st. If the whole or any part of the demised premises shall be acquired or
condemned by Eminent Domain for any public or quasi public use or purpose, then
and in that event, the term of this lease shall cease and terminate from the
date of title vesting in such proceeding and Tenant shall have no claim against
Landlord for the value of any unexpired term of said lease. No part of any award
shall belong to the Tenant.
22nd. If after default in payment of rent or violation of any other provision of
this lease, or upon the expiration of this lease, the Tenant moves out or is
dispossessed and fails to remove any trade fixtures or other property prior to
such said default, removal, expiration of lease, or prior to the issuance of the
final order or execution of the warrant, then and in that event, the said
fixtures and property shall be deemed abandoned by the said Tenant and shall
become the property of the Landlord.
23rd. In the event that the relation of the Landlord and Tenant may cease or
terminate by reason of the re-entry of the Landlord under the terms and
covenants contained in this lease or by the ejectment of the Tenant by summary
proceedings or otherwise, or after the abandonment of the premises by the
Tenant, it is hereby agreed that the Tenant shall remain liable and shall pay in
monthly payments the rent which accrues subsequent to the re-entry by the
Landlord, and the Tenant expressly agrees to pay as damages for the breach of
the covenants herein contained, the difference between the rent reserved and the
rent collected and received, if any, by the Landlord during the remainder of the
unexpired term, such difference or deficiency between the rent herein reserved
and the rent collected if any, shall become due and payable in monthly payments
during the remainder of the unexpired term, as the amounts of such difference or
deficiency shall from time to time be ascertained; and it is mutually agreed
between Landlord and Tenant that the respective parties hereto shall and hereby
do waive trial by jury in any action, proceeding or counterclaim brought by
either of the parties against the other on any matters whatsoever arising out of
or in any way connected with this lease, the Tenant's use or occupancy of said
premises, and/or any claim of injury or damage.
24th. The Tenant waives all rights to redeem under any law of the State of New
York.
25th. 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 a National
Emergency or in connection with any rule, order or regulation of any department
or subdivision thereof of any governmental agency or by reason of the condition
of supply and demand which have been or are affected by war or other emergency.
26th. No diminution or abatement of rent, or other compensation, shall be
claimed or allowed for inconvenience or discomfort arising from the making of
repairs or improvements to the building or to its appliances, nor for any space
taken to comply with any law, ordinance or order of a governmental authority. In
respect to the various "services," if any, herein expressly or impliedly agreed
to be furnished by the Landlord to the Tenant, it is agreed that there shall be
no diminution or abatement of the rent, or any other compensation, for
interruption or curtailment of such "service" when such interruption or
curtailment shall be due to accident, alterations or repairs desirable or
necessary to be made or to inability or difficulty in securing supplies or labor
for the maintenance of such "service" or to some other cause, not gross
negligence on the part of the Landlord. No such interruption or curtailment of
any such "service" shall be deemed a constructive eviction. The Landlord shall
not be required to furnish, and the Tenant shall not be entitled to receive, any
of such "services" during any period wherein the Tenant shall be in default in
respect to the payment of rent. Neither shall there be any abatement or
diminution of rent because of making of repairs, improvements or decorations to
the demised premises after the date above fixed for the commencement of the
term, it being understood that rent shall, in any event, commence to run at such
date so above fixed.
27th. Landlord shall not be liable for failure to give possession of the
premises upon commencement date by reason of the fact that premises are not
ready for occupancy or because a prior Tenant or any other person is wrongfully
holding over or is in wrongful possession, or for any other reason. The rent
shall not commence until possession is given or is available, but the term
herein shall not be extended.
See attached.
And the said Landlord doth covenant that the said Tenant on paying the
said yearly rent, and performing the covenants aforesaid, shall and may
peacefully and quietly have, hold and enjoy the said demised premises for the
term aforesaid, provided however, that this covenant shall be conditioned upon
the retention of title to the premises by the Landlord.
AND IT IS MUTUALLY UNDERSTOOD AND AGREED that the covenants and agreements
contained in the within lease shall be binding upon the parties hereto and upon
their respective successors, heirs, executors and administrators.
IN WITNESS WHEREOF, the parties have interchangeably set their hands and
seals (or caused these presents to be signed by their proper corporate officers
and caused their proper corporate seal to be hereto affixed) this day of 19
Signed, sealed and delivered
In the presence of ▇▇▇▇▇▇ INDUSTRIES, INC.
BY:................................L. S.
▇▇▇▇▇▇ ▇▇▇▇▇
BY:................................L. S.
INFINITE TECHNOLOGY GROUP, LTD.
BY:................................L. S.
Exhibit "A"
[Diagram of ▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇ Lower Level]
RIDER TO LEASE DATED:
BETWEEN, ▇▇▇▇▇▇ INDUSTRIES, INC., LANDLORD, -AND-
INFINITE TECHNOLOGY GROUP, LTD.
28th The Tenant shall pay during the following periods, the following annual
fixed rent, in the following monthly installments, in advance of the first day
of each and every month:
ANNUAL MONTHLY
PERIOD FIXED RENT INSTALLMENTS
------ ---------- ------------
Aug 1, 1996 thru July 31, 1997 $31,200.00 $2,600.00
Aug 1, 1997 thru July 31, 1998 32,760.00 2,730.00
Aug 1, l998 thru July 31, 1999 34,398.00 2,866.50
29th The Tenant shall pay as additional rent hereunder:
a) 50% of any increase in the real estate taxes levied against the
building and lot known as ▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, of which the demised premises is
a part, which increase exceeds the General Tax for the year January 1, 1996 to
December 31, 1996, the School Tax for the fiscal year July 1, 1996 to June 30,
1997; and the Village Tax for the fiscal year June 1, 1996 to May 31, 1997; and
50% of any other tax or assessment that may be levied against said building and
lot.
b) If the names, lien dates or items included in the real estate
taxes now assessed against the parcels of which the demised premises form a
part, are changed during the term of this lease, the tenant shall pay the
aforesaid proportionate shares of the amounts by which the total real estate
taxes paid by the Landlord, by whatever name such tax is called or periods
covered, shall exceed the total amount now paid by the Landlord for the three
taxes and base years set forth above.
c) Any such increase in taxes shall be paid as additional rent, in
advance of the lien dates of any such tax, upon presentation to the Tenant of a
copy of the ▇▇▇▇ showing the tax due. Upon the Tenant's failure to pay any
additional rent as billed by the Landlord, the Landlord may collect same as
provided for herein and as provided by law. If Landlord receives a refund by
reason of protesting the tax assessment, tenant shall receive it's proportionate
share of additional rent refunded.
30th During the term of this lease Tenant shall at it's
sole cost and expense, provide and keep in force, comprehensive public liability
insurance including property damage, insuring Landlord and Tenant against
liability for injury or damage to persons or property incurred in or about the
demised premises or arising out of the ownership, maintenance, use or occupation
thereof. Such policy shall be written by good and reputable solvent insurance
companies, shall name the Landlord as an additional insured, and shall be for
not less than $500,000.00 coverage in respect to any one person and not less
than $1,000,000.00 coverage in respect to any one accident, and shall further
provide that such policy will not be cancelled without at least fifteen (15)
days prior written notice to the Landlord.
At or prior to the commencement of this lease and at least fifteen
(15) days prior to the expiration of any such policy, Tenant shall deliver to
Landlord an appropriate Certificate of Insurance evidencing the existence and
continuation of the required coverage. Upon Tenant's failure to comply in full
with these provisions the Landlord shall have the right to secure or pay the
charges for any such policy and charge the Tenant as additional rent therefore.
Tenant shall indemnify and hold Landlord harmless from and against
any and all liabilities, obligations, damages, penalties, claims, costs and
expenses for which Landlord shall not be reimbursed by insurance, suffered or
incurred as a result of any breach by the Tenant of any covenant or condition of
this lease.
31st Tenant acknowledges that Landlord has made no representations as to the
physical condition, operation or any other matter relating to the demised
premises; that Tenant has had full opportunity and has made a thorough
inspection of the premises and is familiar with same; and Tenant agrees to
accept delivery of the premises in their present "as is" condition.
32nd Tenant will pay for the electricity, water and fuel oil used in the demised
premises; shall maintain and pay the cost of a service contract on the heating
and air conditioning systems; and shall also pay for its own rubbish removal and
janitorial
services.
33rd Tenant shall have the use of two reserved parking spaces at the end of
Washington Avenue.
Landlord shall keep the parking areas and entrances free of snow and
debris.
34th If Landlord institutes any proceeding or any action against the tenant for
breach of the terms and conditions of this lease, Landlord shall be entitled to
reimbursement for all the costs and expenses incurred including reasonable
attorney's fees.
35th Landlord at its sole expense shall supply to Tenant its proportionate share
of matching signage on the outside of the building.
▇▇▇▇▇▇ INDUSTRIES, INC.
By______________________________________
INFINITE TECHNOLOGY GROUP, LTD.
By______________________________________
EXTENSION OF LEASE AGREEMENT
AGREEMENT made this 28th day of July 1999, between ▇▇▇▇▇▇ INDUSTRIES, INC.
a New York corporation, with offices at ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇
▇▇▇▇▇, (Landlord), and INFINITE TECHNOLOGY GROUP, LTD., a New York corporation,
with offices at ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, (Tenant).
WITNESSETH:
WHEREAS, the parties hereto entered into a Lease Agreement covering
approximately 5,500 square feet (entire lower level) of premises ▇▇ ▇▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, for a period of three (3) years commencing
August 1, 1996 and terminating on July 31, 1999 and
WHEREAS, the parties are desirous of extending the aforesaid Lease under
the terms and conditions hereinafter set forth,
NOW, THEREFORE, in consideration of the mutual convenants herein
contained, and those in the stated Lease, the parties hereby agree as follows:
FIRST: The term of the extended Lease shall commence on August 1, 1999 and
terminate on July 31, 2002.
SECOND: The tenant shall pay during the following period, the following annual
fixed rent, in the following montly installments, in advance of the first day
of each and every month:
ANNUAL
PERIOD FIXED RENT INSTALLMENTS
------ ---------- ------------
August 1, 1999--July 31, 2000 $35,430.00 $2,952.50
August 1, 2000--July 31, 2001 $36,492.96 $3,041.08
August 1, 2001--July 31, 2002 $37,587.72 $3,132,31
THIRD: That except as modified by this extension agreement, all of the terms and
conditions of the original Lease, shall apply during the extended term herein
granted.
IN WITNESS WHEREOF. The parties hereto have executed this Agreement the day
and year first written above
▇▇▇▇▇▇ INDUSTRIES, INC.
By:_____________________________________
▇▇▇▇▇▇▇ ▇▇▇▇▇
INFINITE TECHNOLOGY GROUP, LTD.
By:_____________________________________
▇▇▇▇▇ ▇▇▇▇▇▇▇
EXTENTION OF LEASE AGREEMENT
AGREEMENT made this 1st day of April 1999, between ▇▇▇▇▇▇ INDUSTRIES,
INC., a New York Corporation, with offices at ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇
▇▇▇▇ ▇▇▇▇▇, (Landlord), and INFINITE TECHNOLOGY GROUP, LTD. A New York
corporation, with offices at ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇,
(Tenant).
W I T N E S S E T H:
WHEREAS, the parties hereto entered into a Lease Agreement covering
approximately 2,400 square feet on the upper level of premises ▇▇ ▇▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, for a period of two (2) years commencing March
1, 1997 and terminating on February 28, 1999, and
WHEREAS, the parties are desirous of extending the aforesaid Lease under
the terms and conditions hereinafter set forth,
NOW, THEREFORE, in consideration of the mutual covenants herein contained,
and those in the stated Lease, the parties hereby agree as follows:
FIRST: The term of the extended Lease shall commence on March 1, 1999 and
terminate on February 28, 2002.
SECOND: The Tenant shall pay during the following period, the following
annual fixed rent, in the following monthly installments, in advance of the
first day of each and every month:
ANNUAL MONTHLY
PERIOD FIXED RENT INSTALLMENTS
------ ---------- ------------
March 1, 1999-February 29, 2000 $23,360.40 $1,946.70
March 1, 2000-February 28, 2001 $24,061.20 $2,005.10
March 1, 2002-February 28, 2002 $24,783.00 $2,065/25
THIRD: That except as modified by this extension agreement, all of the
terms and conditions of the original Lease, shall apply during the extended term
herein granted.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement the
day and year first written above.
▇▇▇▇▇▇ INDUSTRIES, INC.
by /s/ ▇▇▇▇▇▇ ▇▇▇▇▇, Pres.
-------------------------------
▇▇▇▇▇▇ ▇▇▇▇▇
INFINITE TECHNOLOGY GROUP, LTD.
by /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
-------------------------------
This Agreement BETWEEN
▇▇▇▇▇▇ INDUSTRIES, INC., a New York Corporation, with offices at ▇▇ ▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇,
as Landlord
and
INFINITE TECHNOLOGY GROUP, LTD., a New York Corporation, with offices at ▇▇
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇,
as Tenant
Witnesseth; The Landlord hereby leases to the Tenant the following premises:
Approximately 5,000 square feet on the lower level of premises ▇▇▇ ▇▇▇ ▇▇▇▇▇,
▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, as shown on Exhibit "A" attached, plus covered parking
on the lower level,
for the term of three (3) years
to commence from the 1st day of July 1997 and to end on the 30th day of June
2000 to be used and occupied only for
storage and integration of computer equipment,
upon the conditions and covenants following:
1st. That the Tenant shall pay the annual rent as set forth in Rider Paragraph
28th.
2nd. That the Tenant shall take good care of the premises and shall, at the
Tenant's own cost and expense make all repairs
except structural
and at the end or other expiration of the term, shall deliver up the demised
premises in good order or condition, damages by the elements excepted.
3rd. That the Tenant shall promptly execute and comply with all statues,
ordinances, rules, orders, regulations and requirements of the Federal, State
and Local Governments and of any and all their Departments and Bureaus
applicable to said premises, for the correction, prevention, and abatement of
nuisances or other grievances, in, upon or connected with said premises during
said term; and shall also promptly comply with and execute all rules, orders and
regulations of the New York Board of Fire Underwriters, or any other similar
body, at the Tenant's own cost and expense.
4th. That the Tenant, successors, heirs, executors or administrators shall not
assign this agreement, or underlet or underlease the premises, or any part
thereof, or make any alterations on the premises, without the Landlord's consent
in writing; or occupy, or permit or suffer the same to be occupied for any
business or purpose deemed disreputable or extra-hazardous on account of fire,
under the penalty of damages and forfeiture, and in the event of a breach
thereof, the term herein shall immediately cease and determine at the option of
the Landlord as if it were the expiration of the original term.
5th. Tenant must give Landlord prompt notice of fire, accident, damage or
dangerous or defective condition. If the Premises cannot be used because of fire
or other casualty, Tenant is not required to pay rent for the time the Premises
are unusable. If part of the Premises can not be used, Tenant must pay rent for
the usable part. Landlord shall have the right to decide which part of the
Premises is usable. Landlord need only repair the damaged structural parts of
the Premises. Landlord is not required to repair or replace any equipment,
fixtures, furnishings or decorations unless originally installed by Landlord.
Landlord is not responsible for delays due to settling insurance claims,
obtaining estimates, labor and supply problems or any other cause not fully
under Landlord's control.
If the fire or other casualty is caused by an act or neglect of Tenant,
Tenant's employees or invitees, or at the time of the fire or casualty Tenant is
in default in any term of this Lease, then all repairs will be made at Tenant's
expense and Tenant must pay the full rent with no adjustment. The cost of the
repairs will be added rent.
Landlord has the right to demolish or rebuild the Building if there is
substantial damage by fire or other casualty. Landlord may cancel this Lease
within 30 days after the substantial fire or casualty by giving Tenant notice of
Landlord's intention to demolish or rebuild. The Lease will end 30 days after
Landlord's cancellation notice to Tenant. Tenant must deliver the Premises to
Landlord on or before the cancellation date in the notice and pay all rent due
to the date of the fire or casualty. This Section is intended to replace the
terms of New York Real Property Law Section 227.
6th. The said Tenant agrees that the said Landlord and the Landlord's agents and
other representatives shall have the right to enter into and upon said premises,
or any part thereof, at all reasonable hours for the purpose of examining the
same, or making such repairs or alterations therein as may be necessary for the
safety and preservation thereof.
7th. The Tenant also agrees to permit the Landlord or the Landlord's agents to
show the premises to persons wishing to hire or purchase the same; and the
Tenant further agrees that on and after the sixth month, next preceding the
expiration of the term hereby granted, the Landlord or the Landlord's agents
shall have the right to place notices on the front of said premises, or any part
thereof, offering the premises "To Let" or "For Sale", and the Tenant hereby
agrees to permit the same to remain thereon without hindrance or molestation.
8th. That if the said premises, or any part thereof shall be deserted or become
vacant during said term, or if any default be made in the payment of the said
rent or any part thereof, or if any default be made in the performance of any of
the covenants herein contained, the Landlord or representatives may re-enter the
said premises by force, summary proceedings or otherwise, and remove all persons
therefrom, without being liable to prosecution therefor, and the Tenant hereby
expressly waives the service of any notice in writing of intention to re-enter,
and the Tenant shall pay at the same time as the rent becomes payable under the
terms hereof a sum equivalent to the rent reserved herein, and the Landlord may
rent the premises on behalf of the Tenant, reserving the right to rent the
premises for a longer period of time than fixed in the original lease without
releasing the original Tenant from any liability, applying any moneys collected,
first to the expense of resuming or obtaining possession, second to restoring
the premises to a rentable condition, and then to the payment of the rent and
all other charges due and to grow due to the Landlord, any surplus to be paid to
the Tenant, who shall remain liable for any deficiency.
9th. Landlord may replace, at the expense of Tenant, any and all broken glass in
and about the demised premises. Landlord may insure, and keep insured, all plate
glass in the demised premises for and in the name of Landlord. Bills, for the
premiums therefor shall be rendered by Landlord to Tenant at such times as
Landlord may elect, and shall be due from, and payable by Tenant when rendered,
and the amount thereon shall be deemed to be, and be paid as, additional rental.
Damage and injury to the said premises, caused by the carelessness, negligence
or improper conduct on the part of the said Tenant or the Tenant's agents or
employees shall be repaired as speedily as possible by the Tenant at the
Tenant's own cost and expense.
12th. That the Landlord is exempt from any and all liability for any damage or
injury to person or property caused by or resulting from steam, electricity,
gas, water, rain, ice or snow, or any leak or flow from or into any part of said
building or from any damage or injury resulting or arising from any other cause
or happening whatsoever unless said damage or injury be caused by or be due to
the negligence of the Landlord.
13th. That if default be made in any of the covenants herein contained, then it
shall be lawful for the said Landlord to re-enter the said premises, and the
same to have again, re-possess and enjoy. The said Tenant hereby expressly
waives the service of any notice in writing of intention to re-enter.
14th. That this instrument shall not be a lien against said premises in respect
to any mortgages that are now on or that hereinafter may be placed against said
premises, and that the recording of such mortgage or mortgages shall have
preference and precedence and be superior and prior in lien of this lease,
irrespective of the date of recording and the Tenant agrees to execute without
cost, any such instrument which may be deemed necessary or desirable to further
effect the subordination of this lease to any such mortgage or mortgages, and a
refusal to execute such instrument shall entitle the Landlord, or the Landlord's
assigns and legal representatives to the option of cancelling this lease without
incurring any expense or damage and the term granted is expressly limited
accordingly.
16th. That the security deposited under this lease shall not be mortgaged,
assigned or encumbered by the Tenant without the written consent of the
Landlord.
17th. It is expressly understood and agreed that in case the demised premises
shall be deserted or vacated, or if default be made in the payment of the rent
or any part thereof as herein specified, or if, without the consent of the
Landlord, the Tenant shall sell, assign, or mortgage this lease or if default be
made in the performance of any of the covenants and agreements in this lease
contained on the part of the Tenant to be kept and performed, or if the Tenant
shall fail to comply with any of the statutes, ordinances, rules, orders,
regulations and requirements of the Federal, State and Local Governments or of
any and all their Departments and Bureaus, applicable to said premises, or if
the Tenant shall file or there be filed against Tenant a petition in bankruptcy
or arrangement, or Tenant be adjudicated a bankrupt or make an assignment for
the benefit of creditors or take advantage of any insolvency act, the Landlord
may, if the Landlord so elects, at any time thereafter terminate this lease and
the term hereof, on giving the Tenant five days' notice in writing of the
Landlord's intention so to do, and this lease and the term hereof shall expire
and come to an end on the date fixed in such notice as if the said date were the
date originally fixed in this lease for the expiration hereof. Such notice may
be given by mail to the Tenant addressed to the demised premises.
19th. That the Tenant will not nor will the Tenant permit undertenants or other
persons to do anything in said premises, or bring anything into said premises,
or permit anything to be brought into said premises or to be kept therein, which
will in any way increase the rate of fire insurance on said demised premises,
nor use the demised premises or any part thereof, nor suffer or permit their use
for any business or purpose which would cause an increase in the rate of fire
insurance on said building, and the Tenant agrees to pay on demand any such
increase.
20th. The failure of the Landlord to insist upon a strict performance of any of
the terms, conditions and covenants herein, shall not be deemed a waiver of any
rights or remedies that the Landlord my have, and shall not be deemed a waiver
of any subsequent breach or default in the terms, conditions and covenants
herein contained. This instrument may not be changed, modified, discharged or
terminated orally.
21st. If the whole or any part of the demised premises shall be acquired or
condemned by Eminent Domain for any public or quasi public use or purpose, then
and in that event, the term of this lease shall cease and terminate from the
date of title vesting in such proceeding and Tenant shall have no claim against
Landlord for the value of any unexpired term of said lease. No part of any award
shall belong to the Tenant.
22nd. If after default in payment of rent or violation of any other provision of
this lease, or upon the expiration of this lease, the Tenant moves out or is
dispossessed and fails to remove any trade fixtures or other property prior to
such said default, removal, expiration of lease, or prior to the issuance of the
final order or execution of the warrant, then and in that event, the said
fixtures and property shall be deemed abandoned by the said Tenant and shall
become the property of the Landlord.
23rd. In the event that the relation of the Landlord and Tenant may cease or
terminate by reason of the re-entry of the Landlord under the terms and
covenants contained in this lease or by ejectment of the Tenant by summary
proceedings or otherwise, or after the abandonment of the premises by the
Tenant, it is hereby agreed that the Tenant shall remain liable and shall pay in
monthly payments the rent which accrues subsequent to the re-entry by the
Landlord, and the Tenant expressly agrees to pay as damages for the breach of
the covenants herein contained, the difference between the rent reserved and the
rent collected and received, if any, by the Landlord during the remainder of the
unexpired term, such difference or deficiency between the rent herein reserved
and the rent collected if any, shall become due and payable in monthly payments
during the remainder of the unexpired term, as the amounts of such difference or
deficiency shall from time to time be ascertained; and it is mutually agreed
between Landlord and Tenant that the respective parties hereto shall and hereby
do waive trial by jury in any action, proceeding or counterclaim brought by
either of the parties against the other on any matters whatsoever arising out of
or in any way connected with this lease, the Tenant's use or occupancy of said
premises, and/or any claim of injury or damage.
24th. The Tenant waives all rights to redeem under any law of the State of New
York.
25th. 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 a National
Emergency or in connection with any rule, order or regulation of any department
or subdivision thereof of any governmental agency or by reason of the condition
of supply and demand which have been or are affected by war or other emergency.
26th. No diminution or abatement of rent, or other compensation, shall be
claimed or allowed for inconvenience or discomfort arising from the making of
repairs or improvements to the building or to its appliances, nor for any space
taken to comply with any law, ordinance or order of a governmental authority. In
respect to the various "services," if any, herein expressly or impliedly agreed
to be furnished by the Landlord to the Tenant, it is agreed that there shall be
no diminution or abatement of the rent, or any other compensation, for
interruption or curtailment of such "service" when such interruption or
curtailment shall be due to accident, alterations or repairs desirable or
necessary to be made or to inability or difficulty in securing supplies or labor
for the maintenance of such "service" or to some other cause, not gross
negligence on the part of the Landlord. No such interruption or curtailment of
any such "service" shall be deemed a constructive eviction. The Landlord shall
not be required to furnish, and the Tenant shall not be entitled to receive, any
of such "services" during any period wherein the Tenant shall be in default in
respect to the payment of rent. Neither shall there be any abatement or
diminution of rent because of making of repairs, improvements or decorations to
the demised premises after the date above fixed for the commencement of the
term, it being understood that rent shall, in any event, commence to run at such
date so above fixed.
27th. Landlord shall not be liable for failure to give possession of the
premises upon commencement date by reason of the fact that premises are not
ready for occupancy or because a prior Tenant or any other person is wrongfully
holding over or is in wrongful possession, or for any other reason. The rent
shall not commence until possession is given or is available, but the term
herein shall not be extended.
And the said Landlord doth covenant that the said Tenant on paying the
said yearly rent, and performing the covenants aforesaid, shall and may
peacefully and quietly have, hold and enjoy the said demised premises for the
term aforesaid, provided however, that this covenant shall be conditioned upon
the retention of title to the premises by the Landlord.
And it is mutually understood and agreed that the covenants and agreements
contained in the within lease shall be binding upon the parties hereto and upon
their respective successors, heirs, executors and administrators.
IN WITNESS WHEREOF, the parties have interchangeably set their hands and
seals (or caused these presents to be signed by their proper corporate
officers and caused their proper corporate seal to be hereto affixed) this
day of 19
Signed, sealed and delivered
In the presence of
▇▇▇▇▇▇ INDUSTRIES, INC.
BY: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇
...............................L. S.
▇▇▇▇▇▇ ▇▇▇▇▇
INFINITE TECHNOLOGY GROUP, LTD.
BY: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
.............................. ▇. ▇.
▇▇▇▇▇ TO LEASE DATED:
BETWEEN, ▇▇▇▇▇▇ INDUSTRIES, INC., LANDLORD, -AND-
QUEENS REPRODUCTIONS, INC.
28th. The Tenant shall pay during the following periods, the following annual
fixed rent, in the following monthly installments, in advance of the first day
of each and every month:
ANNUAL MONTHLY
PERIOD FIXED RENT INSTALLMENTS
------ ---------- ------------
July 1, 1997 thru Jun 30, 1998 $36,000.00 $ 3,000.00
July 1, 1998 thru Jun 30, 1999 37,800.00 3,150.00
July 1, 1999 thru Jun 30, 2000 39,690.00 3,307.50
29th The Tenant shall pay as additional rent hereunder:
a) 42% of any increase in the real estate taxes levied against the
building and lot known as ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ of which the demised premises is
a part, which increase exceeds the General Tax for the year January 1, 1997 to
December 31, 1997, the School Tax for the fiscal year July 1, 1996 to June 30,
1997; and the Village Tax for the fiscal year June 1, 1996 to May 31, 1997; and
42% of any other tax or assessment that may be levied against said building and
lot.
b) If the names, lien dates or items included in the real estate
taxes now assessed against the parcels of which the demised premises form a
part, are changed during the term of this lease, the tenant shall pay the
aforesaid proportionate shares of the amounts by which the total real estate
taxes paid by the Landlord, by whatever name such tax is called or periods
covered, shall exceed the total amount now paid by the Landlord for the three
taxes and base years set forth above.
c) Any such increase in taxes shall be paid as additional rent, in
advance of the lien dates of any such tax, or at landlord's option, monthly
simultaneously with the payment of the fixed rent, of the fixed rent, upon
presentation to the Tenant of a copy of the ▇▇▇▇ showing the tax due. Upon the
Tenant's failure to pay any additional rent as billed by the Landlord, the
Landlord may collect same as provided for herein and as provided by law. If
Landlord receives a refund by reason of protesting the tax assessment, tenant
shall receive its proportionate share of
additional rent refunded.
30th During the term of this lease Tenant shall at it's sole cost and expense,
provide and keep in force, comprehensive public liability insurance including
property damage, insuring Landlord and Tenant against liability for injury or
damage to persons or property incurred in or about the demised premises or
arising out of the ownership, maintenance, use or occupation thereof. Such
policy shall be written by good and reputable solvent insurance companies, shall
name the Landlord as an additional insured, and shall be for not less than
$500,000.00 coverage in respect to any one person and not less than
$1,000,000.00 coverage in respect to any one accident, and shall further provide
that such policy will not be cancelled without at least fifteen (15) days prior
written notice to the Landlord.
At or prior to the commencement of this lease and at least fifteen
(15) days prior to the expiration of any such policy, Tenant shall deliver to
Landlord an appropriate Certificate of Insurance evidencing the existence and
continuation of the required coverage. Upon Tenant's failure to comply in full
with these provisions the Landlord shall have the right to secure or pay the
charges for any such policy and charge the Tenant as additional rent therefore.
Tenant shall indemnify and hold Landlord harmless from and against
any and all liabilities, obligations, damages, penalties, claims, costs and
expenses for which Landlord shall not be reimbursed by insurance, suffered or
incurred as a result of any breach by the Tenant of any covenant or condition of
this lease.
31st Tenant acknowledges that Landlord has made no representations as to the
physical condition, operation or any other matter relating to the demised
premises; that Tenant has had full opportunity and has made a thorough
inspection of the premises and is familiar with same; and Tenant agrees to
accept delivery of the premises in their present "as is" condition.
32nd Tenant will pay to the Landlord for electricity and fuel oil used in the
demised premises, as per separate LILCO
meter and separate fuel oil tank; shall maintain and pay the cost of a service
contract on the heating and air conditioning systems; and shall also pay for its
own rubbish removal and janitorial services.
33rd Tenant shall have the use of all parking spaces on the lower level.
Landlord shall keep the parking areas and entrances free of snow and
debris.
34th If Landlord institutes any proceeding or any action against the tenant for
breach of the terms and conditions of this lease, Landlord shall be entitled to
reimbursement for all the costs and expenses incurred including reasonable
attorney's fees.
35th Landlord at its sole expense shall supply to Tenant its proportionate share
of matching signage on the outside of the building.
▇▇▇▇▇▇ INDUSTRIES, INC.
By /s/ ▇▇▇▇▇▇ ▇▇▇▇▇
-------------------------------------
INFINITE TECHNOLOGY GROUP, LTD.
By /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
-------------------------------------
Exhibit "A"
[Diagram of ▇▇▇ ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ Lower Level]
This Agreement BETWEEN
▇▇▇▇▇▇ INDUSTRIES, INC., a New York Corporation,
with offices at ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇,
as Landlord,
and
INFINITE TECHNOLOGY GROUP, LTD., a New York Corporation, with offices at ▇▇
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇,
as Tenant
Witnesseth: The Landlord hereby leases to the Tenant the following premises:
Approximately 5,400 sq. ft. on the lower level of premises ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇,
▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, as shown on Exhibit "A" & "B" attached,
for the term of Three (3) years
to commence from the 1st day of January 1998 and to end on the
31st day of December 2000 to be used and occupied only for
offices and storage and display of computer equipment,
upon the conditions and covenants following:
1st. That the Tenant shall pay the annual rent as set forth in Rider Paragraph
28th.
2nd. That the Tenant shall take good care of the premises and shall, at the
Tenant's own cost and expense make all repairs except structural
and at the end or other expiration of the term, shall deliver up the demised
premises in good order or condition, damages by the elements excepted.
3rd. That the Tenant shall promptly execute and comply with all statutes,
ordinances, rules, orders, regulations and requirements of the Federal, State
and Local Governments and of any and all their Departments and Bureaus
applicable to said premises, for the correction, prevention, and abatement of
nuisances or other grievances, in, upon, or connected with said premises during
said term; and shall also promptly comply with and execute all rules, orders and
regulations of the New York Board of Fire Underwriters, or any other similar
body, at the Tenant's own cost and expense.
4th. That the Tenant, successors, heirs, executors or administrators shall not
assign this agreement, or underlet or underlease the premises, or any part
thereof, or make any alterations on the premises, without the Landlord's consent
in writing; or occupy, or permit or suffer the same to be occupied for any
business or purpose deemed disreputable or extra-hazardous on account of fire,
under the penalty of damages and forfeiture, and in the event of a breach
thereof, the term herein shall immediately cease and determine at the option of
the Landlord as if it were the expiration of the original term.
5th. Tenant must give Landlord prompt notice of fire, accident, damage or
dangerous or defective condition. If the Premises can not be used because of
fire or other casualty, Tenant is not required to pay rent for the time the
Premises are unusable. If part of the Premises can not be used, Tenant must pay
rent for the usable part. Landlord shall have the right to decide which part of
the Premises is usable. Landlord need only repair the damages structural parts
of the Premises. Landlord is not required to repair or replace any equipment,
fixtures, furnishings or decorations unless originally installed by Landlord.
Landlord is not responsible for delays due to settling insurance claims,
obtaining estimates, labor and supply problems or any other cause not fully
under Landlord's control.
If the fire or other casualty is caused by an act or neglect of Tenant,
Tenant's employees or invitees, or at the time of the fire or casualty Tenant is
in default in any term of this Lease, then all repairs will be made at Tenant's
expense and Tenant must pay the full rent with no adjustment. The cost of the
repairs will be added rent.
Landlord has the right to demolish or rebuild the Building if there is
substantial damage by fire or other casualty. Landlord may cancel this Lease
within 30 days after the substantial fire or casualty by giving Tenant notice of
Landlord's intention to demolish or rebuild. The Lease will end 30 days after
Landlord's cancellation notice to Tenant. Tenant must deliver the Premises to
Landlord on or before the cancellation date in the notice and pay all rent due
to the date of the fire or casualty. If the Lease is cancelled Landlord is not
required to repair the Premises or Building. The cancellation does not release
Tenant of liability in connection with the fire or casualty. This Section is
intended to replace the terms of New York Real Property Law Section 227.
6th. The said Tenant agrees that the said Landlord and the Landlord's agents and
other representatives shall have the right to enter into and upon said premises,
or any part thereof, at all reasonable hours for the purpose of examining the
same, or making such repairs or alterations therein as may be necessary for the
safety and preservation thereof.
7th. The Tenant also agrees to permit the Landlord or the Landlord's agents to
show the premises to persons wishing to hire or purchase the same; and the
Tenant further agrees that on and after the sixth month, next preceding the
expiration of the term hereby granted, the Landlord or the Landlord's agents
shall have the right to place notices on the front of said premises, or any part
thereof, offering the premises "To Let" or "For Sale", and the Tenant hereby
agrees to permit the same to remain thereon without hindrance or molestation.
8th. That if the said premises, or any part thereof shall be deserted or become
vacant during said term, or if any default be made in the payment of the said
rent or any part thereof, or if any default be made in the performance of any of
the covenants herein contained, the Landlord or representatives may re-enter the
said premises by force, summary proceedings or otherwise, and remove all persons
therefrom, without being liable to prosecution therefor, and the Tenant hereby
expressly waives the service of any notice in writing of intention to re-enter,
and the Tenant shall pay at the same time as the rent becomes payable under the
terms hereof a sum equivalent to the rent reserved herein, and the Landlord may
rent the premises on behalf of the Tenant, reserving the right to rent the
premises for a longer period of time than fixed in the original lease without
releasing the original Tenant from any liability, applying any moneys collected,
first to the expense of resuming or obtaining possession, second to restoring
the premises to a rentable condition, and then to the payment of the rent and
all other charges due and to grow due to the Landlord, any surplus to be paid to
the Tenant, who shall remain liable for any deficiency
9th. Landlord may replace, at the expense of Tenant, any and all broken glass in
and about the demised premises. Landlord may insure, and keep insured, all plate
glass in the demised premises for and in the name of Landlord. Bills, for the
premiums therefor shall be rendered by Landlord to Tenant at such times as
Landlord may elect, and shall be due from, and payable by Tenant when rendered,
and the amount thereon shall be deemed to be, and be paid as, additional rental.
Damage and injury to the said premises, caused by the carelessness, negligence
or improper conduct on the part of the said Tenant or the Tenant's agents or
employees shall be repaired as speedily as possible by the Tenant at the
Tenant's own cost and expense.
12th. That the Landlord is exempt from any and all liability for any damage or
injury to person or property caused by or resulting from steam, electricity,
gas, water, rain, ice or snow, or any leak or flow from or into any part of said
building or from any damage or injury resulting or arising from any other cause
or happening whatsoever unless said damage or injury be caused by or be due to
the negligence of the Landlord.
13th. That if default be made in any of the covenants herein contained, then it
shall be lawful for the said Landlord to re-enter the said premises, and the
same to have again, re-possess and enjoy. The said Tenant hereby expressly
waives the service of any notice in writing of intention to re-enter.
14th. That this instrument shall not be a lien against said premises in respect
to any mortgages that are now on or that hereafter may be placed against said
premises, and that the recording of such mortgage or mortgages shall have
preference and precedence and be superior and prior in lien of this lease,
irrespective of the date of recording and the Tenant agrees to execute without
cost, any such instrument which may be deemed necessary or desirable to further
effect the subordination of this lease to any such mortgage or mortgages, and a
refusal to execute such instrument shall entitle the Landlord, or the Landlord's
assigns and legal representatives to the option of cancelling this lease without
incurring any expense or damage and the term herby granted is expressly limited
accordingly.
15th. The Tenant has this day deposited with the Landlord the sum of $
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.
16th. That the security deposited under this lease shall not be mortgaged,
assigned or encumbered by the Tenant without the written consent of the
Landlord.
17th. It is expressly understood and agreed that in case the demised premises
shall be deserted or vacated, or if default be made in the payment of the rent
or any part thereof as herein specified, or if, without the consent of the
Landlord, the Tenant shall sell, assign, or mortgage this lease or if default be
made in the performance of any of the covenants and agreements in this lease
contained on the part of the Tenant to be kept and performed, or if the Tenant
shall fail to comply with any of the statues, ordinances, rules, orders,
regulations and requirements of the Federal, State and Local Governments or of
any and all their Departments and Bureaus, applicable to said premises, or if
the Tenant shall file or there be filed against Tenant a petition in bankruptcy
or arrangement, or Tenant be adjudicated a bankrupt or make an assignment for
the benefit of creditors or take advantage of any insolvency act, the Landlord
may, if the Landlord so elects, at any time thereafter terminate this lease and
the term hereof on giving to the Tenant five days' notice in writing of the
Landlord's intention so to do, and this lease and the term hereof shall expire
and come to an end on the date fixed in such notice as if the said ate were the
date originally fixed in this lease for the expiration hereof. Such notice may
be given by mail to the Tenant addressed to the demised premises.
19th. That the Tenant will not nor will the Tenant permit undertenants or other
persons to do anything in said premises, or bring anything into said premises,
or permit anything to be brought into said premises or to be kept therein, which
will in any way increase the rate of fire insurance on said demised premises,
nor use the demised premises or any part thereof, nor suffer or permit their use
for any business or purpose which would cause an increase in the rate of fire
insurance on said building, and the Tenant agrees to pay on demand any such
increase.
20th. The failure of the Landlord to insist upon a strict performance of any of
the terms, conditions and covenants herein, shall not be deemed a waiver of any
rights or remedies that the Landlord may have, and shall not be deemed a waiver
of any subsequent breach or default in the terms, conditions and covenants
herein contained. This instrument may not be changed, modified, discharged or
terminated orally.
21st. If the whole or any part of the demised premises shall be acquired or
condemned by Eminent Domain for any public or quasi public use or purpose, then
and in that event, the term of this lease shall cease and terminate from the
date of title vesting in such proceeding and Tenant shall have no claim against
Landlord for the value of any unexpired term of said lease. No part of any award
shall belong to the Tenant.
22nd. If after default in payment of rent or violation of any other provision of
this lease, or upon the expiration of this lease, the Tenant moves out or is
dispossessed and fails to remove any trade fixtures or other property prior to
such said default, removal, expiration of lease, or prior to the issuance of the
final order or execution of the warrant, then and in that event, the said
fixtures and property shall be deemed abandoned by the said Tenant and shall
become the property of the Landlord.
23rd. In the event that the relation of the Landlord and Tenant may cease or
terminate by reason of the re-entry of the Landlord under the terms and
covenants contained in this lease or by ejectment of the Tenant by summary
proceedings or otherwise, or after the abandonment of the premises by the
Tenant, it is hereby agreed that the Tenant shall remain liable and shall pay in
monthly payments the rent which accrues subsequent to the re-entry by the
Landlord, and the Tenant expressly agrees to pay as damages for the breach of
the covenants herein contained, the difference between the rent reserved and the
rent collected and received, if any, by the Landlord during the remainder of the
unexpired term, such difference or deficiency between the rent herein reserved
and the rent collected if any, shall become due and payable in monthly payments
during the remainder of the unexpired term, as the amounts of such difference or
deficiency shall from time to time be ascertained; and it is mutually agreed
between Landlord and Tenant that the respective parties hereto shall and hereby
do waive trial by jury in any action, proceeding or counterclaim brought by
either of the parties against the other on any matters whatsoever arising out of
or in any way connected with this lease, the Tenant's use or occupancy of said
premises, and/or any claim of injury or damage.
24th. The Tenant waives all rights to redeem under any law of the State of New
York.
25th. 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 a National
Emergency or in connection with any rule, order or regulation of any department
or subdivision thereof of any governmental agency or by reason of the condition
of supply and demand which have been or are affected by war or other emergency.
26th. No diminution or abatement of rent, or other compensation, shall be
claimed or allowed for inconvenience or discomfort arising from the making of
repairs or improvements to the building or to its appliances, nor for any space
taken to comply with any law, ordinance or order of a governmental authority. In
respect to the "services," if any, herein expressly or impliedly agreed to be
furnished by the Landlord to the Tenant, it is agreed that there shall be no
diminution or abatement of the rent, or any other compensation, for interruption
or curtailment of such "service" when such interruption or curtailment shall be
due to accident, alterations or repairs desirable or necessary to be made or to
inability or difficulty in securing supplies or labor for the maintenance of
such "service" or to some other cause, not gross negligence on the part of the
Landlord. No such interruption or curtailment of any such "service" shall be
deemed a constructive eviction. The landlord shall not be required to furnish,
and the Tenant shall not be entitled to receive, any of such "services" during
any period wherein the Tenant shall be in default in respect to the payment of
rent. Neither shall there be any abatement or diminution of rent because of
making of repairs, improvements or decorations to the demised premises after the
date above fixed for the commencement of the term, it being understood that rent
shall, in any event, commence to run at such date so above fixed.
27th. Landlord shall not be liable for failure to give possession of the
premises upon commencement date by reason of the fact that premises are not
ready for occupancy or because a prior Tenant or any other person is wrongfully
holding over or is in wrongful possession, or for any other reason. The rent
shall not commence until possession is given or is available, but the term
herein shall not be extended.
And the said Landlord doth covenant that the said Tenant on paying the
said yearly rent, and performing the covenants aforesaid, shall and may
peacefully and quietly have, hold and enjoy the said demised premises for the
term aforesaid, provided however, that this covenant shall be conditioned upon
the retention of title to the premises by the Landlord.
And it is mutually understood and agreed that the covenants and agreements
contained in the within lease shall be binding upon the parties hereto and upon
their respective successors, heirs, executors and administrators.
In Witness Whereof, the parties have interchangeably set their hands and
seals (or caused these presents to be signed by their proper corporate
officers and caused their proper corporate seal to be hereto affixed) this
day of April 1998
Signed, sealed and delivered
in the presence of
▇▇▇▇▇▇ INDUSTRIES, INC.
BY: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇
...............................L. S.
▇▇▇▇▇▇ ▇▇▇▇▇
INFINITE TECHNOLOGY GROUP, LTD.
.................................. L. S.
BY: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
.............................. ▇. ▇.
▇▇▇▇▇ TO LEASE DATED:
BETWEEN, ▇▇▇▇▇▇ INDUSTRIES, INC., LANDLORD, -AND-
QUEENS REPRODUCTIONS, INC.
28TH. The Tenant shall pay during the following periods, the following annual
fixed rent, in the following monthly installments, in advance of the first day
of each and every month:
ANNUAL MONTHLY
PERIOD FIXED RENT INSTALLMENTS
------ ---------- ------------
Jan 1, 1998 thru Dec 31, 1998 $78,382.44 $6,531.87
Jan 1, 1999 thru Dec 31, 1999 82,301.52 6,858.46
Jan 1, 2000 thru Dec 31, 2000 86,416.56 7,201.38
29th The Tenant shall pay as additional rent hereunder:
a) 41% of any increase in the real estate taxes levied against the
building and lot known as ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ of which the demised premises is
a part, which increase exceeds the General Tax for the year January 1, 1998 to
December 31, 1998, the School Tax for the fiscal year July 1, 1997 to June 30,
1998; and the Village Tax for the fiscal year June 1, 1997 to May 31, 1998; and
41% of any other tax or assessment that may be levied against said building and
lot.
b) If the names, lien dates or items included in the real estate
taxes now assessed against the parcels of which the demised premises form a
part, are changed during the term of this lease, the tenant shall pay the
aforesaid proportionate shares of the amounts by which the total real estate
taxes paid by the Landlord, by whatever name such tax is called or periods
covered, shall exceed the total amount now paid by the Landlord for the three
taxes and base years set forth above.
c) Any such increase in taxes shall be paid as additional rent, in
advance of the lien dates of any such tax, or at landlord's option, monthly
simultaneously with the payment upon presentation to the Tenant of a copy of the
▇▇▇▇ showing the tax due. Upon the Tenant's failure to pay any additional rent
as billed by the Landlord, the Landlord may collect same as provided for herein
and as provided by law. If Landlord receives a refund by reason of protesting
the tax assessment, tenant shall receive its proportionate share of
additional rent refunded.
30th During the term of this lease Tenant shall at it's sole cost and expense,
provide and keep in force, comprehensive public liability insurance including
property damage, insuring Landlord and Tenant against liability for injury or
damage to persons or property incurred in or about the demised premises or
arising out of the ownership, maintenance, use or occupation thereof. Such
policy shall be written by good and reputable solvent insurance companies, shall
name the Landlord as an additional insured, and shall be for not less than
$500,000.00 coverage in respect to any one person and not less than
$1,000,000.00 coverage in respect to any one accident, and shall further provide
that such policy will not be cancelled without at least fifteen (15) days prior
written notice to the Landlord.
At or prior to the commencement of this lease and at least fifteen
(15) days prior to the expiration of any such policy, Tenant shall deliver to
Landlord an appropriate Certificate of Insurance evidencing the existence and
continuation of the required coverage. Upon Tenant's failure to comply in full
with these provisions the Landlord shall have the right to secure or pay the
charges for any such policy and charge the Tenant as additional rent therefore.
Tenant shall indemnify and hold Landlord harmless from and against
any and all liabilities, obligations, damages, penalties, claims, costs and
expenses for which Landlord shall not be reimbursed by insurance, suffered or
incurred as a result of any breach by the Tenant of any covenant or condition of
this lease.
31st Tenant acknowledges that Landlord has made no representations as to the
physical condition, operation or any other matter relating to the demised
premises; that Tenant has had full opportunity and has made a thorough
inspection of the premises and is familiar with same; and Tenant agrees to
accept delivery of the premises in their present "as is" condition.
32nd Tenant will pay to the Landlord for electricity and gas, the usage metered
by the LILCO meter for the entire lower
level.
Tenant shall also pay for its own rubbish removal and janitorial
services.
Landlord will maintain heating and air conditioning systems.
33rd Tenant shall have the use of eight (8) parking spaces in the covered
parking garage, and eight (8) parking spaces on the concrete area outside the
entrance to the premises.
Landlord shall keep the parking areas and entrances free of snow and
debris.
34th If Landlord institutes any proceeding or any action against the tenant for
breach of the terms and conditions of this lease, Landlord shall be entitled to
reimbursement for all the costs and expenses incurred including reasonable
attorney's fees.
35th Landlord at its sole expense shall supply to Tenant its proportionate share
of matching signage on the outside of the building.
36th Tenant presently occupies the area identified as Exhibit "A", under a lease
which expired on September 30, 1997. The security of $5,500.00 which the tenant
deposited under the prior lease constitutes the deposit paid pursuant to
paragraph 15 of this lease.
▇▇▇▇▇▇ INDUSTRIES, INC.
By /s/ ▇▇▇▇▇▇ ▇▇▇▇▇
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INFINITE TECHNOLOGY GROUP, LTD.
By /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
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Exhibit "A"
[Diagram of ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇]
Exhibit "B"
[Diagram of Lower Level of ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇]