SEVENTH AMENDMENT OF LEASE
Seventh Amendment of Lease dated September 15, 1995 by and between Net
Realty Holding Trust, c/o Net Properties Inc., 000 Xxxxxxxx Xxxxxx, Xxxxxx,
Xxxxxxxxxxxxx 00000 (hereinafter "Landlord") and First Lehigh Bank, 000 Xxxx
Xxxxxx, Xxxxxxxxxx, Xxxxxxxxxxxx 00000 (hereinafter "Tenant").
WHEREAS, Xxxxxx X. Xxxxx and the Estate of Xxxxxx X. Xxxxx, Landlord's
predecessor in interest, and The Savings Fund Society of Germantown and its
Vicinity entered into a lease dated July 31, 1974 (hereinafter the "Lease") with
respect to the premises occupied by Tenant and located at Lehigh Shopping
Center, Union Boulevard and Pennsylvania Avenue, Xxxxxxxxx, Xxxxxxxxxxxx 00000;
and
WHEREAS, The Savings Fund Society of Germantown and its Vicinity
assigned its interest in the Lease to Tenant by Assignment dated September 30,
1986; and
WHEREAS, the Lease was amended by a First Amendment of Lease dated
January 20, 1975, and a Second Amendment of Lease dated June 22, 1984, and a
Third Amendment of Lease dated July 11, 1989, and a Fourth Amendment of Lease
dated August 6, 1991, and a Fifth Amendment of Lease dated August 26, 1991, and
a Sixth Amendment of Lease dated August 18, 1993; and
WHEREAS, the parties desire to revive and amend the terms of said
Lease;
NOW THEREFORE, in consideration of the mutual covenants set forth
herein, the Lease is hereby amended as follows:
1. The term of the Lease is hereby extended for a two (2) year period
commencing September 1, 1995 and terminating August 31, 1997.
2. The Lease is hereby amended to provide that Tenant's minimum rent
shall be as follows for the period indicated:
Period Monthly Annual
------ --------- ----------
September 1, 1995 - August 31, 1997 $2,479.17 $29,750.00
3. Paragraph 3rd (Compliance with Laws, etc.) of the Lease is hereby
deleted and replaced with the following:
3rd: A. The Tenant shall, at its own cost and expense comply with all
governmental laws, ordinances, orders and regulations relating to the
use, condition, and occupancy of the premises now or hereafter in
force, including, but not limited to zoning, building, health and
safety codes; and comply with, execute, and perform any required
repairs or improvements with respect to all rules, requirements and
regulations of the Board of Fire Underwriters, the Landlord's
insurance companies and other organizations establishing insurance
rates. The Tenant shall not suffer, permit or commit any waste or
nuisance, or conduct any auction, distress, fire or bankruptcy sale.
B. The Tenant shall not use the premises for the generation, storage,
treatment or disposal of Hazardous Waste, and hereby certifies that
its operations on or other use of the premises will not involve
same. For purposes of this lease, the term "Hazardous Waste" is
defined by cumulative reference to the following sources as amended
from time to time: (a) the Resource Conservation and Recovery Act of
1976, 42 USC 901 et seq. (RCRA); (b) the Comprehensive Environmental
Resource, Compensation and Liability Act of 1980, Public Law 96-610;
and (c) any federal, state or municipal regulations, rules or orders
issued or promulgated under or pursuant to any of the foregoing by
any agency, department or other administrative, regulatory or
judicial body. The Tenant shall indemnify Landlord for any liability
imposed should the provisions of this article be or become untrue.
The warranty of this article shall survive the expiration or
termination of this lease.
4. Tenant acknowledges that Landlord has relied on the representations
set forth in the ERISA Certificate, signed by Tenant simultaneously
herewith and, in the event Tenant fails to sign the ERISA
Certificate or any of the representations set forth by Tenant in the
ERISA Certificate are found to be untrue, Landlord shall have the
right to terminate the Lease by giving Tenant thirty (30) days
written notice and, upon such termination, the Lease shall
terminate and come to an end without any further liability between
Landlord and Tenant except Tenant shall be responsible for any
penalties or damages incurred by Landlord as a result of Tenant's
failure to comply with its obligations under this paragraph.
5. Except as otherwise provided herein, all other terms and conditions
of the Lease shall be deemed to be incorporated herein and made part
of this agreement and shall continue in full force and effect.
Net Realty Holding Trust
Witnesses for Landlord:
/s/ Xxxxx X. Xxxxxx By: /s/ Xxxxxx X. Xxxxxxxxxxx
--------------------------- -----------------------------
Xxxxxx X. Xxxxxxxxxxx
/s/ Xxxxx Xxxx Authorized Representative
---------------------------
First Lehigh Bank
Witnesses for Tenant:
[ILLEGIBLE] /s/ Xxxxxx X. Xxxxxxxx
--------------------------- By: ----------------------------
Asst. Secy. XXXXXX X. XXXXXXXX
--------------------------- Name: ----------------------------
Executive Vice President
Its: ----------------------------
