MADISON Commerce Center-A, LLC Lease Agreement
Exhibit
10.4
MADISON
Commerce
Center-A, LLC
This
Lease Agreement is made on this 31 day of August, 2005, at Murrieta, California
between MADISON COMMERCE CENTER-A, LLC. (hereinafter “Lessor” or MCC) and
XXXXXX
X. XXXXXX DBA BIOELECTRONICS CORPORATIONS,
(hereinafter “Lessee” or “Tenant”).
I.
Premises
MCC
hereby leases to Tenant and Tenant hereby hires from MCC, the property
hereinafter referred to as the “subject premises” located in the City of
Murrieta, County of Riverside, State of California, and more particularly
described as 00000 Xxx Xxxxxx, Xxxxx Xx.(x). H-204
(Exhibit
“A”).
II.
Term
X Fixed-Term
Tenancy.
The
term of this Lease shall commence on OCTOBER
1, 2005
and
continue until MARCH
31, 2006.
Said
rental term shall be automatically extended for the same period and all
provisions applicable to the initial lease term shall apply to the extended
lease term(s) with the exception of renewal rate, unless Lessee gives Lessor
or
Lessor gives Lessee written notice of cancellation of this renewal provision
at
least thirty (30) days prior to the expiration of any lease term.
III.
Rent & Rent Deposit
Tenant
shall pay as rent to MCC the sum of FIVE
HUNDRED SEVENTY FIVE AND NO/100
Dollars
($575.00)
as the
first month’s rent and the sum of FIVE
HUNDRED SEVENTY FIVE AND NO/100 ($575.00)
as a
deposit against payment of rent for the last month of occupancy under this
Lease
Agreement; thereafter, on or before the first day of each succeeding month,
Tenant shall pay the sum of FIVE
HUNDRED SEVENTY FIVE AND NO/100 Dollars
($575.00).
Resident
has received concessions or other compensation as an inducement to enter into
this agreement for a certain lease term. Resident shall repay the inducement
prior to vacating the Premises if Resident terminates this lease or defaults
before the end of the lease term. The agreed total value of the inducement
received[____________________________________] Resident
terminates this lease or defaults before the end of the lease term. The agreed
total value of the inducement received
[______________N/A______________________]
In
the
event payment of rent is made after the fifth (5th)
day of
the month, an automatic late charge of $50.00
will be
charged and must be included with rental payment.
A
$50.00
charge will be paid by the Lessee to the Lessor for each returned
check.
The
deposit for payment of the final month’s rent provided for hereunder may be used
by MCC for any purpose, free of trust, and no interest shall be paid to Tenant
thereon.
IV.
Set-Up Fee
Lessee
acknowledges that Lessee has inspected the subject premises prior to taking
occupancy and that the subject premises are clean and in good repair. On or
before occupancy Lessee shall pay MCC the sum of NINETY
FIVE Dollars
($95.00)
for
payment of expenses incurred by MCC for door directory signs, keys and general
administrative set-up of account.
V.
Use of Premises
The
subject premises shall be used by Lessee as a business office and for uses
normally incident thereto and for no other purpose. Lessee shall allow no
hazardous or noxious materials to be stored at the subject premises and Lessee
shall allow no activities on the subject premises, which are illegal or
otherwise constitute a nuisance or disturbance to other tenants of the
building.
VI.
Covenants of Tenant/Lessee
Lessee
covenants and agrees to pay each monthly installment of rent provided for herein
on or before the due date, to use the subject premises for the purpose
hereinabove stated, and to surrender the subject premises, together with
appropriate office and building keys, upon the termination of tenancy in as
good
condition as existed at the date of initial occupancy, reasonable wear and
tear
excepted.
(a) Default:
The
occurrence of any of the following shall constitute a material default and
breach of this Lease by Lessee: 1)
Any
failure by Lessee to pay rent or to make any other payments required to be
made
by Lessee hereunder, after written notice; 2)
The
abandonment or vacation of the Premises by Lessee, bankruptcy of Lessee, or
assignment for benefit of creditors; 3)
A
failure by Lessee to observe and perform any other provision of this Lease
to be
observed or performed by Lessee, where such failure continues for thirty (30)
days after written notice thereof by Lessor to Lessee.
In
the
event of any such default by Lessee, Lessor shall also have the right, with
or
without terminating this Lease, to re-enter the Premises and remove all persons
and property from the Premises; such property may be removed and stored in
public warehouse or elsewhere at the cost of and for the account of
Lessee.
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4
Initials:
Lessee: ________ Lessor: ________
(b) Abandonment:
Lessee
shall not vacate or abandon the premises at any time during the term and if
Lessee shall abandon, vacate or surrender said premises for a period of thirty
(30) days or be dispossessed by process of Law, or otherwise, any personal
property belonging to Lessee and left on the premises shall be deemed to be
abandoned.
(c) Keys:
Lessee
shall receive 1
key for
each office leased and 1
key for
entry into main office. Lessee shall pay to Lessor the sum of $25.000 for each
key not returned at the expiration of this Lease, or for any additional
duplicate keys provided to Lessee. Tenant shall not alter any lock or install
additional locks or bolts on any door.
(d) Lessor’s
Employees:
Should
Lessee elect to hire any of Lessor’s employees, during tenancy and/or for a one
(1) year period following vacancy of premises, a fee shall be paid to Lessor
in
the amount of $10,000.00 per employee as compensation for Lessor’s loss thereof,
unless Lessor does not intend to retain said employee(s).
(e) Fax/Copy
Equipment:
Lessee
may maintain its own “desktop” fax machine equipment inside the leased office.
Copy machines/equipment, free-standing machines and/or machines that require
additional electricity or dedicated circuitry are not permitted. Lessee also
agrees not to allow or solicit other clients on the premises to use Lessee’s fax
equipment.
VII.
Covenants of ND/Lessor
Lessor
agrees to pay for janitorial services and all utilities (except telephone
service, which shall be billed directly to Tenant by Verizon and the specified
long distance carrier), unless Lessee participates in additional services
offered by Lessor.
(a) Tenants
must be present when telephone lines are installed and when telephones are
programmed. Any subsequent changes will be at tenant’s expense.
(b) Rental
payment includes a receptionist to meet and greet clients during business hours
(8 a.m. to 5 p.m.) Monday through Friday, coffee service, use of up to five
(5)
free hours of conference room time, with a 6-month lease term, assuming
availability is granted, per the reservation book. A $25.00 per hour charge
will
be billed to the Lessee for the use of the conference room in excess of the
allowed “free” time. Additional services included are as follows: N/A
(c) Lessor
shall provide office support services Monday through Friday during business
hours; based on the then current rate sheet, shall be rendered at the end of
each month and is due and payable charges, stationary supplies, parking
validations, secretarial services, etc.) that have been incurred by MCC on
behalf of the client/tenant during the previous monthly accounting period,
payment is requested no later than the 10th
day of
each month following presentation of this statement.
Xx. 0
xx
0
Xxxxxxxx:
Xxxxxx: ________ Lessor: ________
VIII.
Successors and Assigns
The
covenants and conditions herein contained shall be subject to the provisions
as
to assignment, apply to and bind the heirs, successors, executors,
administrators and assigns or the parties hereto.
IX.
Miscellaneous
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1.
|
This
Lease Agreement is entered into in the State of California and shall
be
interpreted in accordance with the laws of the State of
California.
|
|
2.
|
This
Lease Agreement constitutes the entire Agreement of the parties with
respect to the subject matter
hereof.
|
|
3.
|
This
Lease Agreement may not be modified except in writing signed by both
parties. The subject matter hereof, the prevailing party shall be
entitled
to recover, in addition to costs, reasonable attorney’s
fees.
|
| Madison Commerce Center-A, LLC: | Tenant/Lessee: | |
| By: /s/ Xxxxxxx X. Xxxxxx | By: /s/ X. X’Xxxxxx | |
| Print: Xxxxxxx X. Xxxxxx | Print: X. X’Xxxxxx | |
| Title: Leasing Consultant | Title: EVP/COO | |
| Date: 8/31/05 | Date: 8/31/05 |
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Initials:
Lessee: ________ Lessor: ________
