EXHIBIT 10.3
AGREEMENT
This Agreement is made effective as of March 1, 2003, by and between
Bion Environmental Technologies, Inc., ("Bion") and Bergen Cove.
Bion desires to have the following services provided by Bergen Cove.
Therefore, the parties agree as follows:
1. DESCRIPTION OF SERVICES. Beginning on March 1, 2003, Bergen Cove
will provide the following services (collectively, the "Services"):
Collect monthly rent from the Undertenants, Xxxxx X. Xxxxxxxx, Xxxxxxxxx
X. Xxxxx, Lazam Properties, Ltd. (Xxxxx Xxxxxxx) and Verus Support
Services for occupancy of the 10th floor of 00 Xxxx 00xx Xxxxxx, Xxx
Xxxx, XX 00000.
Pay monthly rent to the Overtenant, Pan Am Equitites.
2. PERFORMANCE OF SERVICES. The manner in which the Services are to be
performed shall be determined by Bergen Cove. Bion will rely on Bergen
Cove to fulfill its obligations under this Agreement.
3. TERM/TERMINATION. This Agreement shall terminate automatically at
the time all rents are collected from the Undertenants and paid to the
Overtenant.
4. ASSIGNMENT. Bergen Cove's obligations under this Agreement may not
be assigned or transferred to any other person, firm, or corporation
without the prior written consent of Bion.
5. NOTICES. All notices required or permitted under this Agreement
shall be in writing and shall be deemed delivered when delivered in
person or deposited in the United States mail, postage prepaid,
addressed as follows:
IF for the Company:
Bion Environmental Technologies, Inc.
Xxxxx Xxxxxxxx
Chief Financial Officer
00 Xxxx 00xx Xxxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
IF for Bergen Cove:
Xxxxxxxxx Xxxxx
00 Xxxx 00xx Xxxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Such address may be changed from time to time by either party by
providing written notice to the other in the manner set forth above.
6. ENTIRE AGREEMENT. This Agreement contains the entire agreement of
the parties and there are no other promises or conditions in any other
agreement whether oral or written. This Agreement supersedes any prior
written or oral agreements between the parties.
7. AMENDMENT. This Agreement may be modified or amended if the
amendment is made in writing and is signed by both parties.
8. SEVERABILITY. If any provision of this Agreement shall be held to
be invalid or unenforceable for any reason, the remaining provisions
shall continue to be valid and enforceable. If a court finds that any
provision of this Agreement is invalid or unenforceable, but that by
limiting such provision it would become valid and enforceable, then such
provision shall be deemed to be written, construed, and enforced as so
limited.
9. WAIVER OF CONTRACTUAL RIGHT. The failure of either party to enforce
any provision of this Agreement shall not be construed as a waiver or
limitation of that party's right to subsequently enforce and compel
strict compliance with every provision of this Agreement.
10. APPLICABLE LAW. This Agreement shall be governed by the laws of
the State of New York.
Party receiving services:
Bion Environmental Technologies, Inc.
By: /s/ Xxxxx X. Xxxxxxxx
Xxxxx X. Xxxxxxxx
Chief Executive Officer
Party providing services:
Bergen Cove
By: /s/ Xxxxxxxxx Xxxxx
