Exhibit 10.7.1
SOUTH HILLSBOROUGH COMMUNITY BANK/OFFICE COMPLEX
COMMERCIAL LEASE AGREEMENT
Lessor's phone # Office: (▇▇▇)▇▇▇-▇▇▇▇ Office Fax: ▇▇▇-▇▇▇▇ Pager: 271-3741
Home/Office: ▇▇▇-▇▇▇▇ Hm Fax: ▇▇▇-▇▇▇▇
Lessor's Payment Address: ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇
PARTIES: This Lease is made between SOUTH HILLSBOROUGH COMMUNITY BANK
OFFICE/COMPLEX, C/O ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, CO-OWNER herein referred to as the
LESSOR(S), and APOLLO INTERNATIONAL OF DELAWARE, INC. herein referred to as the
LESSEE(S).
LEASED AREA: The LESSEE hereby and the lessor hereby leases rent from the
LESSOR the premises described as: Suite 205A of South Hillsborough Community
Bank Office Complex located at ▇▇▇▇-▇▇ ▇▇▇▇▇ ▇.▇. ▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇
▇▇▇▇▇ consisting of 1,599 square feet of NET RENTABLE AREA. NET RENTABLE AREA
is defined as the net usable area multiplied by the load factor of 1.15 for the
pro-rata share of the common area. In the event of a dispute in the area
rented, the total dollar amount of the leased area shall prevail.
TERM: The space is leased for a term of 24 months and shall commence on 10/1/96
and continue until 10/31/98.
RENT: The total term rental is the sum of ($37,296.00) Thirty Seven Two Hundred
Ninety Six and No/100 Dollars which is payable in equal monthly installments of
$1,554.00/mo., in advance, on the first day of each month. Lessee shall pay
rent plus sales taxes as may be levied by competent authority from time to time
in addition to the base rental to LESSOR at the above address or at such other
place as LESSOR may designate in writing. Current state sales tax is 6.5%.
LATE FEE: LESSEE agrees to pay a LATE FEE OF 10 PER CENT of the rental amount
if the monthly rent is not received by the LESSOR by the fifth (5th) day of each
month. By imposing a late fee, LESSOR does not waive its right to evict LESSEE
for breach of this Agreement. A 5 PERCENT SERVICE CHARGE will be imposed when a
check is returned for any reason. Any checks returned for insufficient funds
will be subject to late fee.
POSSESSION: Possession of the premises will not be given to the LESSEE until
this Lease has been approve by the LESSOR, and until the rent period begins
unless agreed to otherwise herein. If the LESSEE fails to take possession of
premises and/or fails to pay the first month's rent by the commencement date of
the Agreement, the security deposit or advanced payment, if any, shall be
forfeited to the LESSOR as liquidated damages. LESSEE is responsible for rent
until possession of premises is delivered to LESSOR. The return of all keys to
the LESSOR constitutes return of possession to LESSOR.
DEFAULT: If LESSEE fails to pay rent when due and the default continues for
three (3) days after delivery of written demand by the LESSOR for payment of
rent or possession of the premises, the LESSEE shall become a
tenant-at-sufferance, and the LESSOR shall be entitled immediately to re-enter
and retake possession and recover all damages, plus costs and attorneys' fees.
SECURITY DEPOSIT: A deposit in the amount of $ N/A shall be held as a Security
Deposit for performance of this Rental Agreement and against damage or loss to
the rental unit other than normal wear and tear. Upon the specified vacation of
the rental unit, the LESSOR shall return said
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SOUTH HILLSBOROUGH COMMUNITY BANK/OFFICE COMPLEX
security deposit within fifteen (15) days or give written notice by certified
mail of the LESSOR'S intention to impose a claim thereon at the LESSEE'S last
known mailing address. Vacation of lease prior to lease expiration will cause
entire remaining payments on lease to become due and payable. LESSEE shall not
apply the security deposit in payment of last month's rent.
If this Lease Agreement is rejected by LESSOR, the deposit will be returned.
The offeror hereby waives any claim for damages by reason of non-acceptance of
this application which the LESSOR may reject without stating any reason for so
doing.
MAINTENANCE, REPAIRS, ALTERATIONS, TENANT'S IMPROVEMENTS: LESSEE agrees to take
good care of the property rented and to be liable for any damage to the
property, including the payment of any charges caused by stoppage of plumbing
and/or damage to other fixtures or equipment caused by improper care or misuse.
LESSEE agrees that no alterations, additional locks or bolts to the doors or
windows are to be made or added, or paints or stains or nails, screws, tape or
glue to the woodwork, walls, floors or furnishings are to be applied without the
written consent of the LESSOR. Consent will normally be given however
consideration must be given to the proposed change. If LESSEE incurs property
related expenses by requesting services without the consent of the LESSOR,
LESSOR will not be responsible for the payment of such services. All
improvements made by LESSEE to the premises which are so attached to the
premises that they cannot be removed without material injury to the premises,
shall become a part of the property of the LESSOR upon installation. Not later
than the last day of the term, LESSEE shall at LESSEE'S expense, remove all of
the LESSEE'S personal property and any improvements made by the LESSEE which
have not become the property of LESSOR, including trade fixtures, cabinet work,
moveable paneling, partitions and the like; repair all injury done by or in
connection with the installation or removal of the property improvements;
surrender the premises in as good a condition as they were at the beginning of
the term, reasonable wear and damages by fire, the elements, casualties, or
other cause not due to the misuse or neglect by the LESSEE or LESSEE'S agents,
servants, visitors, servants or licensees, excepted. All property of the LESSEE
remaining on the property after the last day of the term of this lease shall be
conclusively deemed abandoned and may be removed by the LESSOR, and the LESSEE
shall reimburse LESSOR for the cost of such removal. LESSOR may have any such
property stored at LESSEE'S risk and expense. LESSEE shall not do or suffer
anything to be done on the premises which will cause an increase in the rate of
fire insurance on the building. LESSEE shall not permit the accumulation of
waste or refuse matter on the leased premises or anywhere in or near the
building and no hazardous waste may be stored, abandoned or disposed of on the
premises.
UNFORESEEN DAMAGES TO BUILDING: If the building is damaged by fire or any other
cause to such extent that the cost of restoration as reasonable estimated by
LESSOR, will equal or exceed 50% of the replacement value of the building, just
prior to the occurrence of the damage, then LESSOR may, no later than the
seventh day following the damage, give the LESSEE a notice of election to
terminate the lease. In the event of such election, this lease shall be deemed
to terminate as of the date of the damage or destruction, and LESSEE shall
surrender the premise within a reasonable time thereafter, and any prepaid rent
shall be refunded proportionally.
EMINENT DOMAIN: If the premises or any part of the premises, or any part of
the building materially affecting the LESSEE's use of the premises, be taken
by eminent domain, this lease shall terminate at the option of the LESSOR on
the date when title vests pursuant to such taking. The rent shall be
apportioned as of the termination date and any rent paid for any period
beyond such date shall be repaid to LESSEE. It is specifically understood
that the LESSEE may not gain
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SOUTH HILLSBOROUGH COMMUNITY BANK/OFFICE COMPLEX
an interest in the Real Property Estate for purposes of eminent domain
proceedings. However, any relocation costs, business damages or other awards
for which a tenant would qualify under the laws of the State of Florida will be
awarded to the LESSEE.
LESSOR'S SERVICES: Lessor shall provide the office unit and the Common Areas
with electricity for lighting and the operation of equipment normally used in
a commercial office and shall furnish (a) heat and air conditioning
reasonably required for the use and occupation of the Leasehold during
reasonable business hours, such heat and air conditioning to be provided by
utilizing the existing systems in the building; (b) water, (c) sewage; (d)
trash pickup; (e) janitorial service and supplies on each business day or as
agreed herein; (f) pest control. In addition, Lessor shall pay all real
property (ad valorem) taxes and assessments levied against or related to the
Building and the Common Areas.
USE: The premises shall be used as an OFFICE and for no other purposes without
the prior written consent of the LESSOR. LESSEE agrees not to violate the
ordinances of Hillsborough County, Laws of the State of Florida, or permit the
premises to be used for any unlawful or immoral purposes whatsoever, nor for any
purpose that will injure the reputation of said premises or the neighborhood.
ASSIGNMENT AND SUBLETTING: LESSEE shall not assign this Agreement or sublet any
portion of the premises without prior written consent of the LESSOR.
ENTRY AND INSPECTION: The LESSOR shall have the right to enter said premises
during all reasonable hours to examine or protect the same, to show said
premises to prospective buyers or renters or to make such repairs, additions or
alterations thereto as may be deemed necessary.
POSSESSION: If LESSOR is unable to deliver possession of the premises at the
commencement hereof, LESSOR shall not be liable for any damage caused thereby,
nor shall this Agreement be void or voidable, but LESSEE shall not be liable for
any rent until possession is delivered.
INDEMNIFICATION: LESSOR shall not be liable for any damage or injury to LESSEE,
or any other person, or to any property, occurring on the premises, or any part
thereof, or in common areas thereof that are caused by the LESSEE, and LESSEE
agrees to hold LESSOR harmless from any claims for damages, caused by the
LESSEE.
INSURANCE: LESSEE understands that lessor does not insure personal property or
fixtures installed by or belonging to LESSEE against any hazard, nor does LESSOR
provide liability insurance or any other coverage for benefit of LESSEE, and
LESSEE is advised to obtain such insurance coverage as they deem appropriate.
MULTIPLE OCCUPANCY: It is expressly understood that this agreement is between
the LESSOR, and each signatory, individually and severally. In the event of
default of any one signatory, each and every signatory shall be responsible for
timely payment of rent and all other provisions of this Agreement.
OFFICE RULES: LESSEE agrees to abide by the Office Rules, whether promulgated
before or after the execution hereof, including, but not limited to, rules with
respect to noise, odors, smoke, disposal of refuse, parking and use of common
areas. To date, no rules have been made that are
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SOUTH HILLSBOROUGH COMMUNITY BANK/OFFICE COMPLEX
not contained in this lease, but LESSOR reserves the right to do so in the
future for the well being of the Tenants and/or LESSOR.
WAIVER: No failure of the LESSOR to enforce any term hereof shall be deemed a
waiver, nor shall any acceptance of a partial payment of rent be deemed a waiver
of LESSOR'S right to the full amount thereof.
NOTICE TO VACATE: LESSEE agrees to give LESSOR no less than 30 days notice
prior to the 1st of the month of LESSEE'S intent to vacate the premises.
Failure of proper notice will constitute an additional month's rent.
LESSEE shall not, without first obtaining the written consent of the LESSOR,
abandon the premises, or allow the premises to become vacant or deserted.
HOLDING OVER: Any holding over after expiration hereof, and with the written
consent of the LESSOR, shall be construed as a month-to-month tenancy in
accordance with the terms hereof, as applicable. The rental amount will
automatically be adjusted on a monthly basis with the consumer price index (CPI)
beginning at the original lease date for expired leases except that if the CPI
decreases no adjustment will be made.
TIME: Time is of the essence in this Agreement.
NOTICE: Any notice which either party may or is required to give, may be given
by mailing the same to LESSEE or LESSOR at the last known address.
ADDITIONAL TERMS AND CONDITIONS: IN AS MUCH AS APOLLO INTERNATIONAL IS RENTING
THE ENTIRE UPSTAIRS AREA OF BUILDING A, LESSEE IS ENTITLED TO THE USE OF ALL
HALLWAYS, ETC. AS IF IT WERE RENTABLE AREA.
INDEMNIFICATION: LESSEE shall not be liable for any injury to LESSOR, or any
other person, or to any property, occurring on the premises, or any part
thereof, or in common areas thereof that are caused by the LESSOR, and LESSOR
agrees to hold LESSEE harmless from any claims for damages, caused by the
LESSOR.
ENTIRE AGREEMENT: This document constitutes the entire Agreement between the
parties and may be modified only by a writing signed by both parties. It is
understood and agreed that there is no agreement or verbal understanding of any
kind or nature whatsoever with the LESSOR/OWNER, or any of his representatives,
except as set forth in this Agreement. The following Exhibits, if any, have
been made a part of this agreement before the parties' execution hereof:
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SOUTH HILLSBOROUGH COMMUNITY BANK/OFFICE COMPLEX
ITEMIZED AS:
Rent pro-rated to the first of the month: Rent for the days from ___ to ___ days
times
$______ per day or $________
Monthly rent for month of October, $1,544.00
Security Deposit $________
Other special charges $________
Other (signs) $________
State sales tax (6.5%) $ 101.01
TOTAL INITIAL AMOUNT TO BE RECEIVED FROM LESSEE.......................$1,655.01
REGULAR MONTHLY PAYMENT INCLUDING SALES TAX IS........................$1,655.01
/s/ 9/24/96 ▇▇▇▇▇ ▇▇▇▇▇▇
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WITNESS DATE LESSEE/OFFEROR
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WITNESS DATE LESSEE/OFFEROR
/s/ 9/23/96 ▇. ▇▇▇▇▇▇
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WITNESS DATE LESSOR/ACCEPTANCE
LESSOR'S ADDRESS: (Please send lease payments to:)
South Hillsborough Community Bank/Office Complex
Attn: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, Owner/Mgr.
▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇
LESSEE'S CREDIT INFORMATION: (By signature above, LESSEE gives LESSOR
permission to conduct a credit check)
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