LEASE RENEWAL AGREEMENT MADE AND ENTERED INTO ▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇
▇▇▇▇▇▇▇▇, ▇▇ THIS 11TH DAY OF JANUARY 1999.
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BETWEEN: METRO II & III (G.P.), general partnership, duly authorized to
act on behalf of the owners of the building herein below
described, having its placed of business at 8300 Pie IX,
Montreal, Province of ▇▇▇▇▇▇, ▇▇▇ ▇▇▇, herein acting and
represented by ▇▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, duly authorized for these
purposes,
(hereinafter referred to as "Lessor")
AND: ▇▇▇▇▇▇▇▇ CANADA INC., legal person duly incorporated under the
Quebec companies Act, having its head office at 800 Place
Victoria, Suite 4702, in the City of Montreal, Province ▇▇
▇▇▇▇▇▇, ▇▇▇ ▇▇▇, and a place of business at ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇
▇▇▇▇, ▇▇▇▇▇ ▇, in the City of St-▇▇▇▇▇▇▇, Province ▇▇ ▇▇▇▇▇▇, ▇▇▇
▇▇▇, herein acting and represented by ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, its
President, duly authorized by virtue of a resolution of its Board
of Directors, a certified extract of which is annexed to these
present;
(hereinafter referred to as "Lessee")
WHEREAS the Lessor is acting on behalf of the owners of that certain building
bearing civic address ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇-▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇;
WHEREAS in virtue of a lease starting March 1, 1989 ("Lease") the Lessee leased
those certain premises bearing civic address ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ "▇",
▇▇-▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇, having approximately Two Hundred and Fifty
square feet (250 sq. ft.) ("Leased Premises"), for the period of THREE (3)
years;
WHERAS by a renewal agreement dated February 17, 1992 (the "First Renewal"), the
term has been extended for an additional period of THREE (3) years commencing on
March 1st, 1992 and terminating February 28, 1995, upon the terms and conditions
set forth in the First Renewal;
WHEREAS by a renewal agreement dated October 24, 1994 (the "Second Renewal"),
the term has been extended for an additional period of ONE (1) year commencing
on March 1st, 1995 and terminating on February 28, 1996, upon the terms and
conditions set forth in the Second Renewal;
WHEREAS by a renewal agreement dated November 21st, 1995 (the "Third Renewal"),
the term has been extended for an additional period of ONE (1) year commencing
on March 1st, 1996 and terminating on February 28, 1997, upon the terms and
conditions set forth in the Third Renewal;
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WHEREAS by a renewal agreement dated January 29, 1997 (the "Fourth Renewal"),
the term has been extended for an additional period of ONE (1) year commencing
on March 1st, 1997 and terminating on February 28, 1998, upon the terms and
conditions set forth in the Fourth Renewal.
WHEREAS by a renewal agreement dated September 23rd, 1997 (the "Fifth Renewal"),
the term has been extended for an additional period of ONE (1) year commencing
on March 1st, 1998 and terminating on February 28, 1999, upon the terms and
conditions set forth in the Fifth Renewal;
WHEREAS the Lease as modified by the First Renewal, the Second Renewal, the
Third Renewal, the Fourth Renewal and the Fifth Renewal are hereinafter
collectively referred to as the "Lease" and the Term as extended by the First
Renewal, the Second Renewal, the Third Renewal, the Fourth Renewal and the Fifth
Renewal are hereinafter collectively referred to as the "Term";
WHEREAS both the Lessor and the Lessee wish to extend the Lease for a further
term of ONE (1) year under the following terms and conditions:
THEREFORE THE PARTIES AGREE AS FOLLOWS:
1. The preamble hereinabove shall form an integral part of the present Lease
Renewal Agreement, as if herein recited at length.
2. The Lease Renewal Agreement is made upon and subject to the same terms and
conditions as set forth in the Lease save, only as modified by the terms
hereof.
3. The Term of the Lease as specified in Clause 2 of the Lease shall be
renewed and extended for an additional period of ONE (1) year which shall
commence on March 1st, 1999 and shall terminate on February 28, 2000.
4. This Lease Renewal Agreement is made upon and subject to the same terms
and conditions as set forth in the Lease, save and except that the rental
rate shall be at THREE HUNDRED THIRTY FIVE DOLLARS ($335.00), plus G.S.T.
and Q.S.T. and any applicable taxes, gross per month, save and except for
Lessee's proportion of the nonresidential municipal surtax.
5. In the event that during the renewed Term of the Lease, the mode of
collecting said nonresidential municipal surtax and/or municipal business
taxes be altered to make the Lessor liable of them, then such
nonresidential municipal surtax and/or municipal business taxes shall be
paid by the Lessee to the Lessor.
6. The Lessee represents that is has examined and viewed the Leased Premises
and accepts same in their present condition. The present Lease Renewal
Agreement is not subject to the Sections applicable to the leasehold
improvements of the Lease which condition has already been satisfied.
7. There shall be no further option to renew the Lease.
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8. No alteration, amendment, change or addition to this Lease Renewal
Agreement is binding upon the Lessor unless it is in writing and signed by
the Lessee and an authorized representative of the Lessor. The Lessor and
the Lessee acknowledge and covenant to have read, examined, understood and
approved all the provisions of this Lease Renewal Agreement, including
without restriction, all schedules attached hereto and forming part
hereof.
9. The parties confirm that in all other respects, the terms, covenants and
conditions of the Lease remain unchanged, and in full force and effect,
except as modified by this Lease Renewal Agreement. It is understood and
agreed that all terms and expressions when used in this Lease Renewal
Agreement, unless a contrary intention is expressed herein, have the same
meaning as they have in the Lease.
10. The parties confirm that it is their wish that this Lease Renewal
Agreement be drawn up in English. Les parties aux presentes confirment
leur volonte que cette convention soit redigee en anglais.
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IN WITNESS WHEREOF, THE PARTIES HAVE SIGNED AT THE PLACE AND ON THE DATE
HEREINBEFORE FIRST INDICATED.
METRO II & III (G.P.)
/s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
-------------------------------- -----------------------------------
Witness Per: ▇▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
--------------------------------
Witness
▇▇▇▇▇▇▇▇ CANADA INC.
/s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, III /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
--------------------------------- -----------------------------------
Witness Per: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, President
/s/ L. ▇▇▇▇ ▇▇▇▇▇▇
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Witness
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EXTRACT FROM THE MINUTES OF THE BOARD
OF DIRECTORS OF THE COMPANY
▇▇▇▇▇▇▇▇ CANADA INC.
HELD on the 30 day of the month of December, 1998.
BE IT RESOLVED,
1. THAT the Company enter into a Lease Renewal Agreement with Metro II & III
(G.P.), for the Leased Premises bearing civic number ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇,
▇▇▇▇▇ ▇, in the City of St-▇▇▇▇▇▇▇, Province of Quebec and that ▇▇. ▇▇▇▇▇▇ ▇.
▇▇▇▇▇▇▇▇, its President, be and is hereby authorized to execute the said Lease
Renewal Agreement on behalf of the Company.
Certified to be a true copy of a Resolution passed at a meeting of the directors
of ▇▇▇▇▇▇▇▇ Canada Inc. duly called and held on the 30 day of the month of
December, 1998, as set forth in the minutes of the said meeting.
SIGNED AND DATED this 30 day of the month of December, 1998.
▇▇▇▇▇▇▇▇ CANADA INC.
(Lessee)
/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Function: President
Affix the corporate seal
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