Exhibit ▇▇.▇
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1. PARTIES. This Lease dated for reference purposed only, February 12,
1999, by and between THE DEL ▇▇▇▇▇▇ ("Landlord") and AMERICAN DREAM
ENTERTAINMENT ("Tenant").
2. PREMISES. Landlord hereby leases to Tenant, and Tenant hereby leases
from Landlord that certain office space ("Premises") which is outlined on
Exhibit "A" attached hereto and incorporated herein by this reference, being
situated on the 2nd floor of that certain office building ("Building') known as
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The square footage in Exhibit "A" also includes 44 square feet
as the Tenant's share of the common stairways, hallways, restrooms and other
useable square feet that are part of the Building and which are charged pro rata
to all other tenants of the Building. The inclusion of the Tenant's pro rata
share of the common areas as part of the rentable square footage is in lieu of
any common area expense charged to the Tenant for the base year.
By executing this Lease, Tenant acknowledges that the square
footage represented in Exhibit "A" is based on the Landlord's measurements and
Tenant has had the opportunity to make its own measurements with respect to the
square footage.
Nothing contained in Paragraph 2 of the Lease shall be deemed
to be a representation by Landlord as to the actual square footage of the
Premises leased hereby. It is understood that Tenant has relied on his own
measurements and investigations with regard thereto, and has not placed any
reliance on Landlord or any of his agents, employees, or independent contractors
with regard thereto.
The Premises exclude the common stairways, stairwells,
hallways, access ways and pipes, ducts, conduits, wires and appurtenant fixtures
serving exclusively or in common other parts of the Building. By taking
possession of the Premises, Tenant accepts the improvements as completed or as
substantially completed, and in the latter case, Landlord shall provide Tenant
with a list of incomplete and/or corrective items to be acknowledged by Tenant,
which Landlord shall complete and correct promptly thereafter.
Said Lease is subject to the terms, covenants, conditions and
agreements hereinafter set forth, to each and all of which Landlord and Tenant
hereby mutually agree.
3. TERM. The term of this Lease shall be for one (1) year,
commencing on March 1, 1999 and ending on February 29, 2000, unless
sooner terminated pursuant to this Lease.
4. POSSESSION.
4.1 If Landlord for any reason whatsoever cannot initially
deliver possession of the Premises to Tenant at the commencement of the term
hereof, this Lease shall not be void or voidable nor shall Landlord be liable to
Tenant for any loss or damage resulting therefrom, nor shall the expiration date
of the above term be in any way extended, but except as otherwise specifically
provided herein, in that event, all rent shall be abated during the period
between the commencement of said term and the time when Landlord delivers
possession.
4.2 In the event the commencement date of the term of this
Lease is other than as provided in Section 3 above, then Landlord and Tenant
shall execute a written acknowledgment of the date of commencement and shall
attach it to this Lease as Exhibit "B."
4.3 In the event that Landlord shall permit Tenant to occupy
the Premises prior to the commencement date of the term, such occupancy shall be
subject to all of the provisions of this Lease and said early possession shall
not advance the termination date hereinabove provided. In the event Tenant
occupies the Premises prior to the commencement date of the term for the
installation of Tenant trade fixtures and equipment in the Premises, or
otherwise, such use or occupancy shall be pursuant to the express conditions
that (a) Tenant's early entry shall not interfere with Landlord's work or
construction or cause labor difficulty; (b) Tenant shall execute an indemnity
agreement in favor of Landlord in form and substance satisfactory to Landlord;
(c) Tenant shall pay for and provide evidence of insurance issued by an
insurance carrier (or evidence of self-insurance) approved in writing by
Landlord; and (d) Tenant shall pay utility charges reasonably allocated to
Tenant by Landlord. Tenant shall not commence the operation of business prior to
the commencement date of the term without the express prior written consent of
Landlord.
5. RENT. Tenant shall pay to Landlord as rent for the Premises, without
demand, deduction, abatement or set-off, the sum of Five Hundred Forty and
00/100 Dollars ($540.00) on or before the first day of each and every calendar
month of the term of this Lease, the first monthly payment to be made
concurrently with the execution hereof. If the commencement date is not the
first day of a month or if the Lease termination date is not the last day of a
month, the rent payable hereunder shall be prorated on a daily basis at the then
current rate for the fractional month during which this Lease commences and/or
terminates, and the rent payable for the partial month following the
commencement date shall be payable on the first day of the second full calendar
month of the term together with the regular monthly rent due. Said rent shall be
paid to Landlord in lawful money of the United States of America, which shall be
legal tender at the time of payment at the Office of the Building, or to such
other person or at such other place as Landlord may from time to time designate
in writing.
6. SECURITY DEPOSIT. Concurrently with the execution of this Lease,
Tenant has deposited with Landlord the sum of Five Hundred Fifty and 00/100
Dollars ($550.00), receipt of which is hereby acknowledged, to secure the
faithful performance by Tenant of all of the terms, covenants and conditions of
this Lease by Tenant to be kept and performed during the term hereof. Tenant
agrees that if it shall fail to pay when due any installment of rent or any
other sums provided in this Lease to be paid by Tenant to Landlord, or if Tenant
shall default in or breach any of the other terms, covenants and conditions of
this Lease and Landlord shall suffer any damage as a result of said default or
breach, then in any such event Landlord may, at its option (but Landlord shall
not be required to) apply said deposit to any rent or other sum due and unpaid
by Tenant to Landlord hereunder, to any damage suffered by Landlord as a result
of such default or breach to the extent of the amount of damage suffered by
Landlord, or to any reasonable attorney's fees incurred by Landlord in
connection with such default or breach. Should the entire amount so deposited be
applied by Landlord as herein above provided, then Tenant, on the written demand
of Landlord, shall forthwith remit to Landlord a sufficient amount in cash to
restore said security deposit to its original amount, and Tenant's failure to do
so within ten (10) days after such demand shall constitute a breach of this
Lease. Should Tenant comply with all of the terms, covenants and conditions of
this Lease and promptly pay all rental herein provided for as it falls due and
all other sums payable by Tenant to Landlord hereunder, the unappropriated
balance of said security deposit shall be returned to Tenant at the expiration
of the term of this Lease or upon any earlier termination. Landlord shall have
the right to commingle said security deposit with other funds of Landlord.
Should Landlord sell its interest in the Premises during the term hereof and if
Landlord deposits with the purchaser thereof the then unappropriated funds
deposited by Tenant as aforesaid, thereupon Landlord shall be discharged from
any further liability with respect to such deposit.
7. MISCELLANEOUS.
7.1 Tenant agrees that it shall comply with all fire and
security regulations that may be issued from time to time by Landlord and Tenant
also shall provide Landlord with the name of a designated responsible employee
to represent Tenant in all matters pertaining to such fire or security
regulations.
7.2 Landlord reserves the right by written notice to Tenant to
rescind alter or waive any Rule or Regulation at any time prescribed for the
Building when, in Landlord's judgment, it is necessary, desirable or proper for
the best interest of the Building and its tenants.
7.3 Tenant shall not disturb, solicit, or canvass any
occupant of the Building and shall cooperate to prevent same.
7.4 Without the written consent of Landlord, Tenant shall not
use the name of the Building in connection with or in promoting or advertising
the business of Tenant except as Tenant's address.
7.5 Landlord shall furnish heating and air conditioning during
the hours of 7:00 a.m. and 7:00 p.m., Monday through Friday, and 7:00 a.m. to
12:00 p.m. on Saturday, except for holidays. In the event Tenant requires
heating and air conditioning during off hours, Sundays or holidays, Landlord
shall on notice provide such services at the then prevailing rate for such extra
service.
7.6 Pets which shall include but not be limited to dogs, cats,
birds and fish are prohibited from the Building, except for service animals.
7.7 Smoking anywhere on the Building Premises is prohibited,
except in any area which the Building Management may designate as a "Smoking
Area."
Landlord reserves the right to make such other and further
rules and Regulations as in its judgment may be for the safety, care and
cleanliness of the Premises and for the preservation of good order therein
Tenant agrees to abide by all such Rules and Regulations hereinabove stated and
any additional Rules and Regulations which are adopted.
TENANT: LANDLORD:
AMERICAN DREAM ENTERTAINMENT ▇▇▇▇▇▇▇ DEVELOPMENT CO. VI
d/b/a THE DEL ▇▇▇▇▇▇
By:_______________________________ By:_____________________________
ADOBE PROPERTIES,
Its:_______________________________ GENERAL PARTNER
By:_____________________________
General Partner
MTC/ej/195045