Consult your lawyer before signing this lease — it has important legal consequences. BUSINESS LEASE
Consult
your lawyer before signing this lease — it has important legal
consequences.
The
Landlord and the Tenant agree to lease the Rental Space for the Term and at
the
Rent stated, as follows:
(The
words Landlord and Tenant include all
landlords and all tenants under this lease.)
Landlord:
National
Electronic Alloys Inc. Tenant
Integrated
Alarm Services
Print
or
type
Print or Type
3
Fir Court PO
Box 321
Address Residence
address
Oakland,
NJ 07436 Oakland,
NJ 07436
Rental
Space South
Side, 2nd Floor
3500
Sq. Ft.
Phone:
▇▇▇-▇▇▇-▇▇▇▇
in
the building at ▇
▇▇▇ ▇▇▇▇▇
Address
Date
of Lease June
1, 2006
Term
Beginning
June
1, 2006
Ending
July
31, 2007
Security
$3500.00 - 1
month
Broker.
The Landlord and the Tenant recognize No
Brokers are involved
Liability
Insurance. Minimum
amounts: for each person
injured $500,000
for
any one accident $1,000,000
for property damage $250,000
Municipal
Real Estate Taxes $ In
rent
Based
Year ____
Percent of Increase ____% Rent
for the Term is $
The
Rent is payable in advance on the first day of each month, as follows:
$3500
a month
Option:
2, 3 or 4 year, same price as above.
Use
of Rental Space 10
Hour day 6 days a week To
be used as office space only
Additional
agreements
a)
Snow plowing by Landlord. Included are also Real
Estate Taxes,
electricity, gas, & water.
b) 14 parking spaces allocated to tenant.
c) Rubbish removal dumpster provided by Landlord
d) No chemical or hazardous waste allowed.
b) 14 parking spaces allocated to tenant.
c) Rubbish removal dumpster provided by Landlord
d) No chemical or hazardous waste allowed.
Telephone,
fax communications are the
responsiblity of tenant. Building is equiped for fibre optic
connection.
Table
of Contents
| 1. |
Possession
and Use
|
| 2. |
Delay
in Giving Possession
|
| 3. |
No
Assignment or Subletting
|
| 4. |
Rent
and Additional Rent
|
| 5. |
Security
|
| 6. |
Liability
Insurance
|
| 7. |
Unavailability
of Fire Insurance, Rate
Increase
|
| 8. |
Water
Damage
|
| 9. |
Liability
of Landlord and Tenant
|
| 10. |
Real
Estate Taxes
|
| 11. |
Acceptance
of Rental Space
|
| 12. |
Quite
Enjoyment
|
| 13. |
Utilities
and Services
|
| 14. |
Tenant’s
Repairs, Maintenance, and
Compliance
|
| 15. |
Landlord’s
Repairs and Maintenance
|
| 16. |
No
Alterations
|
| 17. |
Signs
|
| 18. |
Access
to Rental Space
|
| 19. |
Fire
and Other Casualty
|
| 20. |
Eminent
Domain
|
| 21. |
Subordination
to Mortgage
|
| 22. |
Tenant’s
Certificate
|
| 23. |
Violation,
Eviction, Re-entry and
Damages
|
| 24. |
Notices
|
| 25. |
No
Waiver
|
| 26. |
Survival
|
| 27. |
End
of Term
|
| 28. |
binding
|
| 1. |
Possession
and Use
|
The
Landlord shall give possession of the Rental Space to the Tenant for the Term.
The Tenant shall take possession of and use the Rental Space for the purpose
stated above. The Tenant may not use the Rental Space for any other purpose
without the written consent of the Landlord.
The
Tenant shall not allow the Rental space to be used for any unlawful or hazardous
purpose. The Tenant is satisfied that the Rental Space is zoned for the Use
stated. The Tenant shall obtain any necessary certificate of occupancy or other
certificate permitting the Tenant to use the Rental Space for that
Use.
The
Tenant shall not use the Rental Space in any manner that results in (1) an
increase in the rate of fire or liability insurance or (2) cancellation of
any
fire or liability insurance policy on the Rental Space. The Tenant shall comply
with all requirements of the insurance companies insuring the Rental Space.
The
Tenant shall not abandon the Rental Space during the Term of this Lease or
permit it to become vacant for extended periods.
| 2. |
Delay
in Giving of Possession
|
This
paragraph applies if (a) the Landlord cannot give possession of the Rental
Space
to the Tenant on the beginning date and (b) the reason for the delay is not
the
Landlord’s fault. The Landlord shall not be held liable for the delay. The
Landlord shall then have 30 days in which to give possession. If possession
is
given within that time, the Tenant shall accept possession and pay the Rent
from
that date. The ending date of the Term shall not change. If possession is not
given within that time this Lease may be cancelled by either party on notice
to
the other.
| 3. |
No
Assignment or Subletting
|
The
Tenant may not do any of the following without the Landlord’s written consent;
(a) assign this Lease (if the Tenant is a corporation, the sale of a majority
of
its shares shall be treated as an assignment), (b) sublet all or any part of
the
Rental Space or (c) permit any other person or business to use the Rental
Space.
4. Rent
and Additional Rent
Tenant
shall pay the Rent to the Landlord at the
▇▇▇▇▇▇▇▇’s
address.
If
the
Tenant fails to comply with any agreement in this Lease, the Landlord may do
so
on behalf of the Tenant. The Landlord may charge the cost to comply, including
reasonable attorney’s fees, to the Tenant as “additional rent”. The additional
rent shall be due and payable as Rent with the next monthly Rent payment. Non-
payment of additional rent shall give the Landlord the same rights against
the
Tenant as if the Tenant failed to pay the Rent.
5. Security
The
Tenant has given to the Landlord the Security stated above. The Security shall
be held by the Landlord during the Term of this Lease. The Landlord may deduct
from the Security any expenses incurred in connection with the Tenant’s
violation of any agreement in this Lease. For example, if the Tenant does not
leave the Rental Space in good condition at the end of the Term, the Security
may be used to put it in good condition. If the amount of damage exceeds the
Security, the Tenant shall pay the additional amount to the Landlord on
demand.
.
If
the
Landlord uses the Security or any part of it during the Term, the Tenant shall
on demand pay the Landlord for the amount used. The amount of the Security
is to
remain constant throughout the Term. The Security is not to be used by the
Tenant for the payment of Rent. The Landlord shall repay to the Tenant any
balance remaining within a reasonable time after the end of the Term. The Tenant
shall not be entitled to interest on the Security
If
the
Landlord’s interest in the Rental Space is transferred, the Landlord shall turn
over the Security to the new Landlord. The Landlord shall notify the Tenant
of
the name and address of the new Landlord. Notification must be given within
5
days after the transfer, by registered or certified mail. The Landlord shall
then no longer be responsible to the Tenant for the repayment of Security.
The
new Landlord shall be responsible to the Tenant for the return of the Security
in accordance with the terms of this Lease.
6. Liability
Insurance
The
Tenant shall obtain, pay for, and keep in effect for the benefit of the Landlord
and the Tenant public liability insurance on the Rental Space. The insurance
company and the broker must be acceptable to the Landlord. This coverage must
be
in at least the minimum amounts stated above.
All
policies shall state that the insurance company cannot cancel or refuse to
renew
without at least 10 days written notice to the Landlord.
The
Tenant shall deliver the original policy to the Landlord with proof of payment
of the first year’s premiums. This shall be done not less than 15 days before
the Beginning of the Term. The Tenant shall deliver a renewal policy to the
Landlord with proof of payment not less than 15 days before the expiration
date
of each policy.
7. Unavailability
of Fire Insurance, Rate Increases
If
due to
the Tenant’s use of the Rental Space the Landlord cannot obtain and maintain
fire insurance on the Building in an amount and form reasonably acceptable
to
the Landlord, the Landlord may cancel this Lease on 30 days notice to the
Tenant. If due to the Tenant’s use of the Rental Space the fire insurance rate
is increased, the Tenant shall pay the increase in the premium to the Landlord
on demand.
8. Water
Damage
The
Landlord shall not be liable for any damage or injury to any persons or property
caused by the leak or flow of water from or into any part of the
Building.
9. Liability
of Landlord and Tenant
The
Landlord shall not be liable for injury or damage to any person or property
unless it is due to the Landlord’s act or neglect. The Tenant is liable for any
loss, injury or damage to any person or property caused by the act or neglect
of
the Tenant or the Tenant’s employees. The Tenant shall defend the Landlord from
and reimburse the Landlord for all liability and costs resulting from any injury
or damage due to the act or neglect of the Tenant or the Tenant’s
employees.
10. Real
Estate Taxes
The
Landlord shall pay the yearly Municipal Real Estate Taxes on the Building in
the
amount stated above. This is the tax assessed for the Base Year stated above.
The Tenant shall pay the Percent of Increase stated above of each yearly
increase in the Municipal Real Estate Taxes over the tax for the Base Year.
The
Tenant shall pay this amount yearly in one sum within 30 days of the Landlord’s
written request accompanied by a copy of the current year’s tax bill. The
Tenant’s liability for this payment shall be pro-rated for any part of the year
the Tenant does not occupy the Rental Space under this Lease.
2
11. Acceptance
of Rental Space
The
Tenant has inspected the Rental Space and agrees that the Rental Space is in
satisfactory condition. The Tenant accepts the Rental Space “as
is”.
12. Quiet
Enjoyment
The
Landlord has the right to enter into this Lease. If the Tenant complies with
this Lease, the Landlord must provide the Tenant with undisturbed possession
of
the Rental Space.
13. Utilities
and Services
The
Tenant shall arrange and pay for all utilities and services required for the
Rental Space, including the following:
(a)
Heat (c)
Electric
(b)
Hot
and cold water (d)
Gas
All
by
Landlord
The
Landlord shall pay for the following utilities and services:
The
Landlord is not liable for any inconvenience or harm caused by any stoppage
or
reduction of utilities and services beyond the control of the Landlord. This
does not excuse the Tenant from paying Rent.
14. Tenant’s
Repairs, Maintenance, and Compliance
The
Tenant shall:
(a) Promptly
comply with all laws, orders, rules and requirements of governmental
authorities, insurance carriers, board of fire underwriters, or similar
groups.
(b) Maintain
the Rental Space and all equipment and fixtures in it in good repair and
appearance.
(c) Make
all
necessary repairs to the Rental Space and all equipment and fixtures in it,
except structural repairs.
(d) Maintain
the Rental Space in a neat, clean, safe, and sanitary condition, free of all
garbage.
(e) Keep
the
walks, driveway, parking area, yard, entrances, hallways, and stairs clean
and
free from trash, debris, snow and ice.
(f) Use
all
electric, plumbing and other facilities in the Rental Space safely.
(g) Use
no
more electricity than the wiring or feeders to the Rental Space can safely
carry.
(h) Promptly
replace all broken glass in the Rental Space.
(i) Do
nothing to destroy, deface, damage, or remove any part of the Rental
Space.
(j) Keep
nothing in the Rental Space which is inflammable, dangerous or explosive or
which might increase the danger of fire or other casualty.
(k) Promptly
notify the Landlord when there are conditions which need repair.
(l) Do
nothing to destroy the peace and quiet of the Landlord, other tenants, or
persons in the neighborhood.
(m) Avoid
littering in the building or on its grounds.
The
Tenant shall pay any expenses involved in complying with the above.
3
15. Landlord’s
Repairs and Maintenance
The
Landlord shall:
(a) Maintain
the public areas, roof and exterior walls in good condition.
(b) Make
all
structural repairs unless these repairs are made necessary by the act or neglect
of the Tenant or the Tenant’s employees.
(c) Make
necessary replacements of the plumbing, cooling, heating and electrical systems,
except when made necessary by the act or neglect of the Tenant or the Tenant’s
employees.
(d) Maintain
the elevators in the Building, if any.
16. No
Alterations
The
Tenant may not make any changes or additions to the Rental Space without the
Landlord’s written consent. Any changes or additions made without the Landlord’s
written consent shall be removed by the Tenant on demand.
All
changes or additions made with the Landlord’s written consent shall become the
property of the Landlord when completed and paid for by the Tenant. They shall
remain as part of the Rental Space at the end of the Term. The Landlord may
demand that the Tenant remove any changes or additions at the end of the Term.
The Tenant shall promptly pay for all costs of any permitted changes or
additions. The Tenant shall not allow any mechanic’s lien or other claim to be
filed against the Building. If any lien or claim is filed against the Building,
the Tenant shall have it promptly removed.
17. Signs
The
Tenant shall obtain the Landlord’s written consent before placing any sign on or
about the Rental Space. Signs must conform with all applicable municipal
ordinances and regulations.
18. Access
to Rental Space
The
Landlord shall have access to the Rental Space on reasonable notice to the
Tenant to (a) inspect the Rental Space (b) make necessary repairs, alternations,
or improvements, (c) supply services, and (d) show it to prospective buyers,
mortgage lenders, contractors or insurers.
The
Landlord may show the Rental Space to rental applicants at reasonable hours
on
notice to the Tenant within 6 months before the end of the Term.
The
Landlord may enter the Rental Space at any time without notice to the Tenant
in
case of emergency.
See
18D
& E on following page.
19. Fire
and Other Casualty
The
Tenant shall notify the Landlord at once of any fire or other casualty in the
Rental Space. The Tenant is not required to pay Rent when the Rental Space
is
unusable. If the Tenant uses part of the Rental Space, the Tenant must pay
Rent
pro-rata for the usable part.
If
the
Rental Space is partially damaged by fire or other casualty, the Landlord shall
repair it as soon as possible. This includes the damage to the Rental Space and
fixtures installed by the Landlord. The Landlord need not repair or replace
anything installed by the Tenant.
Either
party may cancel this Lease if the Rental Space is so damaged by fire or other
casualty that it cannot be repaired within 90 days. If the parties cannot agree,
the opinion of a contractor chosen by the Landlord and the Tenant will be
binding on both parties.
4
This
Lease shall end if the Rental Space is totally destroyed. The Tenant shall
pay
Rent to the date of destruction.
If
the
fire or other casualty is caused by the act or neglect of the Tenant or the
Tenant’s employees, the Tenant shall pay for all repairs and all other
damage.
20. Eminent
Domain
Eminent
domain is the right of a government to lawfully condemn and take private
property for public use. Fair value must be paid for the property. The taking
occurs either by court order or by deed to the condemning party. If any part
of
the Rental Space is taken by eminent domain, either party may cancel this lease
on 30 days notice to the other. The entire payment for the taking shall belong
to the Landlord. The Tenant shall make no claim for the value of this Lease
for
the remaining part of the Term.
21. Subordination
to Mortgage
In
a
foreclosure sale all mortgages which now or in the future affect the Building
have priority over this Lease. This means that the holder of a mortgage may
end
this Lease on a foreclosure sale. The Tenant shall sign all papers needed to
give any mortgage priority over this Lease. If the Tenant refuses, the Landlord
may sign the papers on behalf of the Tenant.
22. Tenant’s
Certificate
At
the
request of the Landlord, the Tenant shall sign a certificate stating that (a)
this Lease has not been amended and is in effect, (b) the Landlord has fully
performed all of the Landlord’s agreements in this Lease, (c) the Tenant has no
rights to the Rental Space except as stated in this Lease, (d) the Tenant has
paid all Rent to date, and (e) the Tenant has not paid Rent for more than one
month in advance. The Certificate shall also list all the property attached
to
the Rental Space owned by the Tenant.
23. Violation,
Eviction, Re-entry and Damages
The
Landlord reserves a right of re-entry which allows the Landlord to end this
Lease and re-enter the Rental Space if the Tenant violates any agreement in
this
Lease. This is done by eviction. Eviction is a court procedure to remove a
tenant. Eviction is started by the filing of a complaint in court and the
service on a tenant of the complaint and a summons to appear in court. The
Landlord may also evict the Tenant for any other cause allowed by law. After
obtaining a judgment for possession and compliance with the warrant of removal,
the Landlord may re-enter and take back possession of the Rental Space. If
the
cause for eviction is non-payment of Rent, notice does not have to be given
to
the Tenant before the Landlord files a complaint. If there is any other cause
to
evict, the Landlord must give to the Tenant the notice required by law before
the Landlord files a complaint for eviction.
The
tenant is liable for all damages caused by the Tenant’s violation of any
agreement in this Lease. This includes reasonable attorney’s fees and costs. The
rights and remedies of the Landlord under this Lease are not intended to be
inclusive but as additional to all other rights and remedies allowed to the
Landlord by law.
After
eviction the Tenant shall pay the unpaid Rent for the Term or until the Landlord
re-rents the Rental Space, if sooner. If the Landlord re-rent the Rental Space
for less than the Tenant’s Rent, the Tenant shall pay the difference until the
end of the Term. The Tenant shall not be entitled to any excess resulting from
the re-renting. The Tenant shall also pay (a) all reasonable expenses incurred
by the Landlord in preparing the Rental Space for re-renting and (b) commissions
paid to a broker for finding a new tenant.
24.
Notices
All
notices given under this Lease must be in writing. Each party must accept and
claim the notices given by the other. Unless otherwise provided by law, they
may
be given by (a) personal delivery, or (b) certified mail, return receipt
requested. Notices shall be addressed to the Landlord at the address written
at
the beginning of this Lease and to the Tenant at the Rental Space.
25. No
Waiver
The
Landlord’s failure to enforce any agreement in this Lease shall not prevent the
Landlord from enforcing the agreement for any violations occurring at a later
time.
5
26. Survivial
If
any
agreement in this Lease is contrary to law, the rest of the Lease shall remain
in effect.
27. End
of Term
At
the
end of the Term the Tenant shall (a) leave the Rental Space clean, (b) removal
all of the Tenant’s property, (c) remove all signs and restore that portion of
the Rental Space on which they were placed, (d) repair all damage caused by
moving, and (e) return the Rental Space to the Landlord in the same conditions
as it was at the beginning of the Term except for normal wear and
tear.
If
the
Tenant leaves any property in the Rental Space, the Landlord may (a) dispose
of
it and charge the Tenant for the cost of disposal, or (b) keep it as abandoned
property.
28. Binding
This
Lease binds the Landlord and the Tenant and all parties who lawfully succeed
to
their rights or take their places.
29. Full
Agreement
The
parties have read this Lease. It contains their full agreement. It may not
be
changed except in writing signed by the Landlord and the Tenant.
18
D. Landlord
is to have a key for emergency services.
18
E. Landlord
has the right to enter space to access stairway to roof for necessary
maintenance purposes.
30. Tenant
may not bring any pets, dogs, cats or animals into the building at any
time.
31. This
is a
“No Smoking” Building and those that do must do so outside the
building.
32. Tenant
is
responsible for light bulb replacement.
33. If
tenant
is in good standing with Landlord, tenant will have the first option to renew
lease at mutually agreed upon date.
34. Tenant
is
responsible for cleaning leased area.
35. Tenant
is
to deposit the equivalent of 1 month’s rent for security not to be interest
bearing and not to be considered rent at the end of the lease.
36. Occupancy
Permit and any charges or fees is the responsibility of tenant although Landlord
will assist with any data necessary.
37. Tenant’s
SIC # is 7382 and is responsible for it’s compliance.
Signatures The
Landlord and the Tenant agree to the terms of this Lease by signing below.
If a
party is a
Corporation,
this Lease is signed by its proper corporate officers and its corporate seal
is
affixed.
Witnessed
or attested by: National
Electronic Alloys Inc.
SEAL
Landlord
Landlord
_______________________________ ___________________________________ SEAL
As
to
Landlord Landlord
_______________________________ SEAL
Tenant
Tenant
/s/
▇▇▇▇▇ ▇. ▇▇▇▇ 5/10/06 _________________________________ SEAL
As
to
Tenant Tenant
6