STANDARD FORM COMMERCIAL LEASE
Member Greater Boston Real Estate Board
1. PARTIES:
▇▇▇▇▇ Realty Trust
▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
▇▇▇▇▇▇, which expression shall include its heirs, successors, and assigns where
the context so admits, does hereby lease to:
Industrial Training Corp.
▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
LESSEE, which expression shall include its successors, executors,
administrators, and assigns where the context so admits, and the LESSEE hereby
leases the following described premises:
2. PREMISES:
▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Floor 1, Suite D
950+/- Square Feet
together with the right to use in common, with others entitled thereto, the
hallways, stairways, and elevators, necessary for access to said leased
premises, and lavatories nearest thereto.
3. TERM:
The term of this lease shall be for One (1)
Year commencing on April 1, 1995
and ending on March 31, 1996
4. RENT:
The LESSEE shall pay to the LESSOR rent at the rate of
$10,374.00 + 1,900.00 CAM ** dollars per year, payable in advance in monthly
installments of $864.50 + 158.33 = $1,022.83 .
5. SECURITY DEPOSIT:
Upon the execution of this lease, the LESSEE has paid to the
LESSOR the amount of $791.67 dollars, which has been held as a security for the
LESSEE's performance as herein provided and refunded to the LESSEE at the end of
this lease subject to the LESSEE's satisfactory compliance with the conditions
hereof.
6. RENT ADJUSTMENT:
Intentionally Deleted
A. TAX ESCALATION:
Intentionally Deleted
B. OPERATING COST ESCALATION:
Intentionally Deleted
C. CONSUMER PRICE ESCALATION:
Intentionally Deleted
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7. UTILITIES:
The LESSEE shall pay, as they become due, all bills for
electricity and other utilities (whether they are used for furnishing heat or
other purposes) that are furnished to the leased premises and presently
separately metered, and all bills for fuel furnished to a separate tank
servicing the leased premises exclusively. The LESSOR agrees to provide all
other utility service and to furnish reasonably hot and cold water and
reasonable heat and air conditioning* (except to the extent that the same are
furnished through separately metered utilities or separate fuel tanks as set
forth above) to the leased premises, the hallways, stairways, elevators, and
lavatories during normal business hours on regular business days of the heating
and air conditioning* seasons of each year, to furnish elevator service and to
light passageways and stairways during business hours, and to furnish such
cleaning service as is customary in similar buildings in said city or town, all
subject to interruption due to any accident, to the making of repairs,
alterations, or improvements, to labor difficulties, to trouble in obtaining
fuel electricity, service, or supplies from the sources from which they are
usually obtained for said building, or to any cause beyond the LESSOR's control.
LESSOR shall have no obligation to provide utilities or
equipment other than the utilities and equipment within the premises as of the
commencement date of this lease. In the event LESSEE requires additional
utilities or equipment, the installation and maintenance thereof shall be the
LESSEE's sole obligation, provided that such installation shall be subject to
the written consent of the LESSOR.
* delete "air conditioning" if not applicable
8. USE OF LEASED PREMISES:
The LESSEE shall use the leased premises only for the
purpose of Sales office for a full service training company
9. COMPLIANCE WITH LAWS:
The LESSEE acknowledges that no trade or occupation shall be
conducted in the leased premises or use made thereof which will be unlawful,
improper, noisy or offensive, or contrary to any law or any municipal by-law or
ordinance in force in the city or town in which the premises are situated.
10. FIRE INSURANCE:
The LESSEE shall not permit any use of the leased premises
which will make voidable any insurance on the property of which the leased
premises are a part, or on the contents of said property or which shall be
contrary to any law or regulation from time to time established by the New
England Fire Insurance Rating Association, or any similar body succeeding to its
powers. The LESSEE shall on demand reimburse the LESSOR, and all other tenants,
all extra insurance premiums caused by the LESSEE's use of the premises.
11. MAINTENANCE:
The LESSEE agrees to maintain the leased
A. ▇▇▇▇▇▇'S premises in good condition, damage by fire and
OBLIGATIONS other casualty only excepted, and whenever necessary, to
replace plate glass a nd other glass therein, acknowledging that the leased
premises are now in good order and the glass whole. The LESSEE shall not permit
the leased premises to be overloaded, damaged, stripped, or defaced, nor suffer
any waste. ▇▇▇▇▇▇ shall obtain written consent of LESSOR before erecting any
sign on the premises.
▇. ▇▇▇▇▇▇'▇ The LESSOR agrees to maintain the structure of
OBLIGATIONS the building of which the leased premises are a part in the
same condition as it is at the commencement of the term or as it may be put in
during
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the term of this lease, reasonable wear and tear, damage by fire and other
casualty only excepted, unless such maintenance is require because of the LESSEE
or those for whose conduct the LESSEE is legally responsible.
12. ALTERATIONS -- ADDITIONS:
The LESSEE shall not make structural alterations or
additions to the leased premises, but may make non-structural alterations
provided the LESSOR consents thereto in writing, which consent shall not be
unreasonably withheld or delayed. All such allowed alterations shall be at
LESSEE's expense and shall be in quality at least equal to the present
construction. LESSEE shall not permit any mechanics' liens, or similar liens, to
remain upon the leased premises for labor and material furnished to LESSEE or
claimed to have been furnished to LESSEE in connection with work of any
character performed or claimed to have been performed at the direction of LESSEE
and shall cause any such lien to be released of record forthwith without cost to
LESSOR. Any alterations or improvements made by the LESSEE shall become the
property of the LESSOR at the termination of occupancy as provided herein.
13. ASSIGNMENT -- SUBLEASING:
The LESSEE shall not assign or sublet the whole or any part
of the leased premises without ▇▇▇▇▇▇'s prior written consent. Notwithstanding
such consent, LESSEE shall remain liable to LESSOR for the payment of all rent
and for the full performance of the covenants and conditions of this lease.
14. SUBORDINATION:
This lease shall be subject and subordinate to any and all
mortgages, deeds of trust and other instruments in the nature of a mortgage, now
or at any time hereafter, a lien or liens on the property of which the leased
premises are a part and the LESSEE shall, when requested, promptly execute and
deliver such written instruments as shall be necessary to show the subordination
of this lease to said mortgages, deeds of trust or other such instruments in the
nature of a mortgage.
15. LESSOR'S ACCESS:
The LESSOR or agents of the LESSOR may, at reasonable times,
enter to view the leased premises and may remove placards and signs not approved
and affixed as herein provided, and make repairs and alterations as LESSOR
should elect to do and may show the leased premises to others, and at any time
within three (3) months before the expiration of the term, may affix to any
suitable part of the leased premises a notice for letting or selling the leased
premises or property of which the leased premises are a part and keep the same
so affixed without hindrance or molestation.
16. INDEMNIFICATION AND LIABILITY:
The LESSEE shall save the LESSOR harmless from all loss and
damage occasioned by the use or escape of water or by the bursting of pipes, as
well as from any claim or damage resulting from neglect in not removing snow and
ice from the roof of the building or from the sidewalks bordering upon the
premises so leased, or by any nuisance made or suffered on the leased premises,
unless such loss is caused by the neglect of the LESSOR. The removal of snow and
ice from the sidewalks bordering upon the leased premises shall be Lessor's
responsibility.
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17. LESSEE'S LIABILITY INSURANCE:
The LESSEE shall maintain with respect to the leased
premises and the property of which the leased premises are a part comprehensive
public liability insurance in the amount of $500,000.00 with property damage
insurance in limits of $300,000.00 in responsible companies qualified to do
business in Massachusetts and in good standing therein insuring the LESSOR as
well as LESSEE against injury to persons or damage to property as provided. The
LESSEE shall deposit with the LESSOR certificates for such insurance at or prior
to the commencement of the term, and thereafter within thirty (30) days prior to
the expiration of any such policies. All such insurance certificates shall
provide that such policies shall not be canceled without at least ten (10) days
prior written notice to each assured named therein.
18. FIRE, CASUALTY -- EMINENT DOMAIN:
Should a substantial portion of the leased premises, or of
the property of which they are apart, be substantially damaged by fire or other
casualty, or be taken by eminent domain, the LESSOR may elect to terminate this
lease. When such fire, casualty, or taking renders the leased premises
substantially unsuitable for their intended use, a just and proportionate
abatement of rent shall be made, and the LESSEE may elect to terminate this
lease if:
(a) The LESSOR fails to give written notice within thirty (30) days of
intention to restore leased premises, or
(b) The LESSOR fails to restore the leased premises to a condition
substantially suitable for their intended use within ninety (90) days of said
fire, casualty or taking.
The LESSOR reserves, and the LESSEE grants to the LESSOR, all rights which the
LESSEE may have for damages or injury to the leased premises for any taking by
eminent domain, except for damage to the LESSEE's fixtures, property, or
equipment.
19. DEFAULT AND BANKRUPTCY:
In the event that:
(a) The LESSEE shall default in the payment of any installment of rent or
other sum herein specified and such default shall continue for ten (10) days
after written notice thereof; or
(b) The LESSEE shall default in the observance or performance of any other
of the LESSEE's covenants, agreements, or obligations hereunder and such default
shall not be corrected within thirty (30) days after written notice thereof; or
(c) The LESSEE shall be declared bankrupt or insolvent according to law,
or, if any assignment shall be made of LESSEE's property for the benefit of
creditors, then the LESSOR shall have the right thereafter, while such default
continues, to re-enter and take complete possession of the leased premises, to
declare the term of this lease ended, and remove the LESSEE's effects, without
prejudice to any remedies which might be otherwise used for arrears of rent or
other default. The LESSEE shall indemnify the LESSOR against all loss of rent
and other payments which the LESSOR may incur by reason of such termination
during the residue of the term. If the LESSEE shall default, after reasonable
notice thereof, in the observance or performance of any conditions or covenants
on LESSEE's part to be observed or performed under or by virtue of any of the
provisions in any article of this lease, the LESSOR, without being under any
obligation to do so and without thereby waiving such default, may remedy such
default for the account and at the expense of the LESSEE. If the LESSOR makes
any expenditures or incurs any obligations for the payment of money in
connection therewith, including but not limited to, reasonable attorney's fees
in instituting, prosecuting or defending any action or proceeding, such sums
paid or obligations insured, with interest at the rate of _____ per cent per
annum and costs, shall be paid to the LESSOR by the LESSEE as additional rent.
20. NOTICE:
Any notice from the LESSOR to the LESSEE relating to the
leased premises or to the occupancy thereof, shall be deemed duly served, if
left at the leased premises addressed to the LESSEE, or if mailed to the leased
premises, registered
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or certified mail, return receipt requested, postage prepaid, addressed to the
LESSEE. Any notice from the LESSEE to the LESSOR relating to the leased premises
or to the occupancy thereof, shall be deemed duly served, if mailed to the
LESSOR by registered or certified mail, return receipt requested, postage
prepaid, addressed to the LESSOR at such address as the LESSOR may from time to
time advise in writing. All rent notices shall be paid and sent to the LESSOR at
▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
21. SURRENDER:
The LESSEE shall at the expiration or other termination of
this lease remove all LESSEE's goods and effects from the leased premises,
(including, without hereby limiting the generality of the foregoing, all signs
and lettering affixed or painted by the LESSEE, either inside or outside the
leased premises). LESSEE shall deliver to the LESSOR the leased premises and all
keys, locks thereto, and other fixtures connected therewith and all alterations
and additions made to or upon the leased premises, in good condition, damage by
fire or other casualty only excepted. In the event of the LESSEE's failure to
remove any of LESSEE's property from the premises, LESSOR is hereby authorized,
without liability to LESSEE for loss of damage thereto, and at the sole risk of
LESSEE, to remove and store any of the property at LESSEE's expense, or to
retain same under ▇▇▇▇▇▇'s control or to sell at public or private sale, without
notice any or all of the property not so removed and to apply the net proceeds
of such sale to the payment of any sum due hereunder, or to destroy such
property.
22. BROKERAGE:
The Broker(s) named herein --NO BROKER--warrant(s) that he
(they) is (are) duly licensed as such by the Commonwealth of Massachusetts, and
join(s) in this agreement and become(s) a party hereto, insofar as any
provisions of this agreement expressly apply to him (them), and to any
amendments or modifications of such provisions to which he (they) agree(s) in
writing.
▇▇▇▇▇▇ agrees to pay the above-named Broker upon the term commencement date a
fee for professional services of or pursuant to Broker's attached commission
schedule.
23. OTHER PROVISIONS:
It is also understood and agreed that LESSOR is to provide
services and operating expenses that include but is not limited to the
following, which will be billed to the LESSEE monthly at $2.00/square foot.
- Real estate taxes - Landscaping
- Grounds maintenance - Cleaning
- Common utilities - Trash removal
- Snow removal - Maintenance
- Insurance. - Water/sewer
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24. Option:
Intentionally Deleted
IN WITNESS WHEREOF, the said parties hereunto set their hands and seals this
10th day of February, 1995.
/s/ /s/
________________________________ ___________________________
LESSEE Industrial Training Corp. ▇▇▇▇▇▇ ▇▇▇▇▇ Realty Trust,
▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Trustee
________________________________
BROKER(S)
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