EXHIBIT 10(b)
LEASE AGREEMENT
0000 XXXXXXXXXX XXX
XXXXXXXX, XXXX 00000
This lease made this 7th day of February, 1997 between the Landlord and the
Tenant hereinafter named.
Article 1. Definition and Certain Basic Provisions:
1.1 a) "Landlord": Xxxxx Xxxxxxx DBA University Area Rentals
b) Landlord's Address: 0000 Xxxxx Xxxx Xxxxxx
Xxxxxxxx, Xxxx 00000
c) "Tenants": Superconductive Components
d) Tenant's Address: 0000 Xxxxxxxxxx Xxxxxx Xxxxx X
Xxxxxxxx, Xxxx 00000
e) Demised Premises: In the township of Clinton, County of
Franklin Ohio, a unit of a building with approximately 17,845
gross feet in area and described in exhibit A and high lighted
in yellow ink located in a building known as 0000 Xxxxxxxxxx
Xxx Xxxxxxxx, Xxxx 00000, hereinafter referred to as the
building. Plus a unit of a building with approximately 4,200
gross sq. ft in area described in exhibit A and high lighted
in blue ink.
f) Lease Term: 24 month commencing on the 1st day of February,
1997 ("The commencement date") as hereinafter defined, and on
the 31st of January, 1999.
g) Base Rental: Year 1 - $3.15 per sq. ft. ($5786.50)
Year 2 - $3.15 per sq. ft. ($5786.50)
h) Permitted Use: Office / Machineshop
i) Prepaid Rent: None
j) Security Deposit: None
k) Reserved Parking: North side of building
l) Utilities: Tenants to pay all Utilities to include, but not
limited to: gas, electric, water, and all metered, sub-metered
or fixed municipal charges.
LEASE AGREEMENT
0000 XXXXXXXXXX XXX
XXXXXXXX, XXXX 00000
Article 1. Definition and Certain Basic Provisions:
1.1 a) "Landlord": Xxxxx Xxxxxxx DBA University Area Rentals
b) Landlord's Address: 0000 Xxxxx Xxxx Xxxxxx
Xxxxxxxx, Xxxx 00000
c) "Tenants": Superconductive Components
d) Tenant's Address: 0000 Xxxxxxxxxx Xxxxxx Xxxxx X
Xxxxxxxx, Xxxx 00000
e) Demised Premises: In the township of Clinton, County of
Franklin Ohio, a unit of a building with approximately 17,845
gross feet in area and described in exhibit A, located in a
building known as 0000 Xxxxxxxxxx Xxx Xxxxxxxx, Xxxx 00000,
hereinafter referred to as the building
f) Lease Term: 48 month commencing on the 1st day of January,
1997 ("The commencement date") as hereinafter defined, and on
the 31st day of December, 2000.
g) Base Rental: Year 1 - $3.15 per sq. ft.($4684.00)
Year 2 - $3.15 per sq. ft.($4684.00)
h) Permitted use: Manufacturing, and Office use
i) Parking reserved space: North and South side of building
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1.2 Each of the foregoing definitions and basic provisions shall be
construed in conjunction with and limited by references thereto in the other
provisions of this lease.
ARTICLE II
GRANTING CLAUSE
2.1 In consideration of the obligation of Tenant to pay rent herein
provided and in consideration of the other terms, covenants and Tenant hereby
takes from Landlord, the Demised Premises as described in Section 1.1(e) TO HAVE
AND TO HOLD the Demised Premises for the Lease Term specified in Section 1.1(f),
all upon the terms and conditions set forth in this Lease.
ARTICLE III
RENT
3.1 The annual rental above provided for shall be paid in equal monthly
installments of one-twelfth (1/12th) of said annual rent. Said monthly
installments of rent shall be paid in advance on the first day of each month
during the entire term of this Lease.
ARTICLE IV
UTILITIES
4.1 Landlord shall not be liable for any interruption whatsoever in
utility service not furnished by him, nor for interruptions in utility furnished
by him which are due to fire, accident, strike, acts of God, or other causes
beyond the control of Landlord or in order to make alterations, repairs, or
improvements to the Building and appurtenances.
ARTICLE V
MAINTENANCE
5.1 Tenant shall repair and maintain, at its expense, the following
items:
(a) Any special treatment of interior walls, wall
coverings, partitions, floors and ceilings;
(b) Fixtures or other improvements installed by or at the
request of Tenant;
(c) Damages caused by misuse or neglect of Tenant, its
agents, invites or employees;
(d) All glass, except plate glass windows and doors not
damaged by misuse or neglect by Tenant, its agents,
invites or employees;
(e) Exposed electrical systems in tenant area and exposed
plumbing related to tenants office area. Exposed
electrical and plumbing in common area to be shared
with tenant to the east.
Tenant shall keep the Demised Premises in good order and report any
damage or repair to Landlord. In the event Tenant fails to make such repairs and
perform such maintenance, Landlord may make such repairs and perform such
maintenance. The expense so incurred by Landlord in making repairs or performing
maintenance, together with interest thereon at the rate of ten (10%) percent per
annum from date of payment thereof by Landlord shall become due and payable at
the next rent date after such payment is made and Landlord gives notice to
Tenant that it has performed the repairs or maintenance and the cost thereof.
5.2 Tenant shall cooperate with Landlord in keeping the Building and
sidewalks, service ways, landscaped areas and loading areas adjacent to the
Demised Premises neat, clean and free from dirt or rubbish at all times.
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ARTICLE VII
ALTERATIONS
6.1 Tenant shall make no alterations, changes, additions or
improvements to the Demised Premises without prior written consent of Landlord
or Agents.
6.2 Any and all alterations, changes, additions, or improvements made
to or upon the Demised Premises by Tenant shall be and become a part of the real
estate and the property of Landlord, except machinery or equipment,
appurtenances and trade fixtures placed therein or thereon by Tenant, which are
easily moveable or of a temporary nature, and upon the expiration of this Lease,
under any of its terms, Tenant shall not be entitled to any repayment or
compensation therefor.
6.3 Tenant may place or install trade fixtures or equipment as it deems
desirable for the conduct of its business, and Tenant shall have the right to
remove from the Demised Premises, at any time, all personal property, the
Demised Premises, whether nailed, bolted, or otherwise temporarily fastened to
said premises. Any damage caused to the Demised Premises by the placement or
removal of such property shall be repaired by Landlord at Tenant's expense.
ARTICLE VII
INSURANCE
7.1 Tenant further agrees and covenants to keep in force, at its own
expense, during the full term of this Lease, public liability insurance, as
follows:
(a) Bodily injury in limits of not less than $100,000 for
any one person, any $300,000 for one occurrence;
(b) Property damage in limits of not less than $100,000
for any one occurrence and not less than $100,000 in
the aggregate;
covering the Tenant and Landlord against all claims, actions, damages,
liabilities and expenses in connection with personal injuries or damage to
property arising from or out of the occupancy or use of Landlord's property.
7.2 All policies of insurance required to be carried by Tenant
hereunder shall be placed with solvent, incorporated insurance companies,
approved by Landlord, each company being then licensed to do business in the
State of Ohio. Tenant hereby agrees to furnish Landlord with proof of such
insurance upon a request by Landlord and further agrees and covenants to furnish
Landlord with receipted bills or other evidence showing the payment of premiums
on all policies covering the Demised Premises at any time. All policies to be
procured by Tenant shall be so written that the Landlord will be notified of
cancellation or any restrictive amendment of the policy at least ten (10) days
prior to the effective date of such cancellation or amendment. Notice shall be
certified by mail, return receipt requested, addressed to Landlord at the
address contained in ARTICLE 1, Section 1.1 of this Lease. If tenant shall
neglect to procure and keep in force any policies of insurance as herein
required, Landlord may, without notice to Tenant, renew or procure insurance,
and the premiums paid thereof, together with interest thereon at the rate of
twelve (12%) percent per annum from the date of payment thereof by Landlord,
shall be and become due and payable to Landlord as so much additional rent at
the next rent due date after such payment is made and Landlord gives notice to
Tenant that it has renewed or procured such insurance and the amount of premiums
paid therefor appurtenances, equipment, Tenant's improvement and stock located
in the Building arising out of fire or theft perils which come within the
purview of the insurance provided above covering the property listed above.
ARTICLE IX
TENANT INDEMNIFICATION
8.1 Tenant agrees that it will indemnify Landlord and save it harmless
from and against any and all claims, actions, damages, liabilities, attorneys
fees, cost and for all other expense in connection with personal injuries or
damage to property arising from or out of the occupancy or use by Tenant of the
Demised Premises, or any part of the Landlord's property, or occasioned in whole
or in part by any act or omission of Tenant, its agent,
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contractors or employees, and not solely caused by any negligence of Landlord,
its agents or employees. Tenants shall keep in force, at its own expense, so
long as this Lease remains in effect, the public liability insurance provided
or in Article VIII hereof.
ARTICLE X
LANDLORD NOT RESPONSIBLE
9.1 Tenant waives all claims it may at any time have against Landlord,
its agents or employees, for damage to persons or property resulting from the
Demised Premises or any other part of the Building becoming out of repair or
resulting from any accident within the Demised Premises or within the Building
or resulting directly or indirectly from any act of Tenant or any other occupant
of the Building or any other person while in the Building, except if caused by
the negligence of the Landlord, its agents, or employees.
ARTICLE XI
DAMAGE AND/OR DESTRUCTION
10.1 If, during the term of this Lease, the Building or Demised
Premises are destroyed by fire or other cause, or partially destroyed or damaged
so that the Landlord shall decide not to restore or rebuild same, whether or not
the Demised Premises are damaged, the Landlord may, within ninety (90) days
after such fire or other cause, give notice in writing to the Tenant of such
decision, whereupon this Lease shall expire forthwith and the Tenant shall
within Thirty (30) days surrender the Demised Premises and all interest therein
to the Landlord and shall pay rent only up to the time of such surrender.
However, if the Landlord shall decide to restore or rebuild the Building and/or
Demised Premises, this Lease shall remain in full force and effect and the
Landlord agrees that the rent shall be diminished in proportion to the time and
the part of the Demised Premises of which the Tenant has been deprived. In no
case shall the Landlord be liable to the Tenant for any loss or damage
occasioned by such fire or other cause.
ARTICLE XIII
LIENS
11.1 Tenant covenants that it will not voluntarily place any lien on
the Demised Premises, or any part thereof, without the written consent of the
Landlord, and Tenant further agrees and covenants that it shall pay all costs,
expenses and liabilities arising out of or in or modifications and shall keep
the Demised Premises free and clear from any and all liens of mechanics or
materialmen, and all liens of a similar character arising out of or growing out
of the construction, repair alteration or maintenance of the Building by Tenant
or upon Tenant's behalf. In the event Tenant fails to keep the Demised Premises
free and clear from such liens, Landlord shall, at its option, have the right,
at all times during the terms of this Lease, to pay such costs, expenses,
liabilities or charges on the Demised Premises and to pay, cancel and clear off
all liens of any kind of nature, and claims on or against the Demised Premises,
and to redeem the Demised Premises from same or any of them, from time to time,
and the amount so paid, including reasonable expenses, shall be so much
additional rent due from Tenant at the next rent date after such payment, with
interest at the rate of twenty-four (24%) percent per annum from the date of
payment until repayment thereof to Landlord by Tenant.
ARTICLE XIII
QUIET ENJOYMENT
12.1 Landlord covenants, warrants, and represents that it has the full
right and power to execute and perform this Lease and to grant the estate
demised herein and that Tenant, on payment of the rent herein reserved and
performing the covenants and agreements herein contained, shall peaceably and
quietly have, hold, and enjoy the Demised Premises during the full term of this
Lease and any extension or renewal hereof; provided, however, that Tenant
accepts this Lease subject and subordinate to any recorded mortgage, deed of
trust, or other lien presently existing upon the Demised Premises, and Tenant
agrees upon demand to execute such further instruments subordinating this Lease
and Landlord may request, provided such further subordination shall be upon the
express condition that this Lease shall be recognized by the Mortgage and that
the rights of Tenant shall remain in full force and effect during the term of
the Lease so long as Tenant shall continue to perform all of the covenants and
conditions of this Lease.
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ARTICLE XIV
EMINENT DOMAIN
13.1 If all the Demised Premises shall be taken for any public or quasi
public use, under any statute, by right of eminent domain, or if any part of the
Demised Premises is so taken and the part not so taken is insufficient for the
reasonable operation of Tenant's business then, in either such event, this Lease
and the term hereby granted shall cease and expire on the date when possession
shall be taken thereunder of the Demised Premises or part thereof, and all
rents, taxes and other charges shall be pro rated and paid to such date.
13.2 In the event that only a part of the Demised Premises is so taken
and the part not so taken shall be sufficient for the reasonable operation of
Tenant's business, this Lease shall remain unaffected, except that Tenant shall
be entitled to a pro rata reduction in the rent paid hereunder, based on the
proportion which the rental value of the space so taken bears to the rental
value of the space originally demised.
13.3 In the case of any such taking, whether of all or any part of the
Demised Premises, and regardless of whether this Lease survives, the Tenant
shall only be entitled to receive the portion of the award equivalent in amount
to the cost of any alterations, changes, additions, or improvements which were
installed by Tenant at its cost and which are so taken, less depreciation
thereof. In determining the rate of depreciation, such alterations, changes,
additions or improvements shall be deemed to have a useful life commencing with
the date of their installation and terminating on the date specified herein for
the expiration of the term of the Lease. In no event, however, shall any
alterations, additions, changes or improvements be deemed to have a useful life
in excess of twenty (20) years. Tenant shall not be entitled to any payment
based, interaiia, upon the value of the unexpired term of this tease,
consequential damages to the leasehold interest not so taken or otherwise. The
balance of the award shall be solely to Landlord and Tenant hereby assigns such
balance of the award to Landlord.
ARTICLE XV
LANDLORD'S RIGHT TO ACCESS
14.1 Landlord's agents, employees, or representatives shall have the
right to enter upon the Demised Premises any time for the purpose of inspecting
the same, or of making repairs to the Demised Premises, or adjacent premises if
necessary, or of showing the Demised Premises to prospective purchasers, lessees
or lenders.
ARTICLE XVI
PERMITTED USE
15.1 Tenant agrees that the Demised Premises shall only be used for the
permitted use defined in ARTICLE I, Section 1.1, and Tenant agrees that the
Demised Premises, or any part thereof, shall not at any time during the term of
the Lease, be used for any purpose or business which is considered dangerous or
unsafe, or which contributes a nuisance, or is noxious or offensive by reason
the emission of dust, gas, smoke, fumes, or noise.
15.2 Tenant agrees that the Demised Premises, or any part thereof,
shall not be used or occupied, or that it will not use or suffer or permit the
Demised Premises, or any part thereof, to be occupied for any vicious or immoral
purpose, nor for any purpose in violation of the laws of the State of Ohio, or
of the United States, or of municipal ordinances, or of the police, health,
sanitary, building and fire rules, regulations and instructions relating to or
affecting the use or occupancy or possession of the Demised Premises now or
hereafter in force and applicable thereto.
ARTICLE XVLL
DEFAULT BY TENANT AND REMEDIES
16.1 The following events shall be deemed to be events of default by
Tenant under this Lease:
(a) Tenant shall fail to pay any installment of rent
hereby reserved and such failure shall continue for a
period of five (5) days.
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(b) Tenant shall fail to comply with any term, provision
or covenant of this Lease, other than the payment of
rent and shall not cure such failure within thirty
(30) days or such reasonable time as required to cure
such failure after written notice thereof to Tenant.
(d) Tenant shall file a petition under any section or
chapter of the National Bankruptcy Act, as amended or
under any similar law or statute of the United States
or any State thereof, or Tenant shall be adjudged
bankrupt or insolvent in proceedings filed against
Tenant thereunder.
(e) A receiver or trustee shall be appointed for all or
substantially all of the assets of Tenant.
(f) Tenant shall desert or vacate any substantial portion
of the Demised Premises.
16.2 Upon the occurrence of any such event of default, Landlord shall
have the option to pursue any one or more of the following remedies without any
notice of demand whatsoever:
(a) Terminate this Lease, in which event Tenant shall
immediately surrender the Demised Premises to
Landlord, and if Tenant fails to do so, Landlord may,
without prejudice to any other remedy which it may
have for possession or arrearages in rent, enter upon
and take possession of the Demised Premises and expel
or remove Tenant and any other person who may be
occupying the Demised Premises or any part thereof,
by force if necessary, without being liable for
prosecution or any claim of damages therefor, and
Tenant agrees to pay to Landlord, on demand, the
amount of all loss and damage which Landlord may
suffer by reason of such termination, whether through
inability to relet the Demised Premises on
satisfactory terms, or, otherwise.
(b) Entered upon and take possession of the Demised
Premises and expel or remove Tenant and any other
person who may be occupying the Demised Premises or
any part thereof, by force if necessary, without
damage therefor, and if Landlord so elects, relet the
Demised Premises on such terms as Landlord may deem
advisable and receive the rent therefor; and Tenant
agrees to pay Landlord, on demand, any deficiency
that may arise by reason of such reletting.
(c) Enter upon the Demised Premises by force, if
necessary, without being liable for prosecution or
any claims for damages therefor, and do whatever
Tenant is obligated to do under the terms of this
Lease, and Tenant agrees to reimburse Landlord on
demand, for any expenses which Landlord may incur in
thus effecting compliance with Tenant's obligations
under this Lease, and Tenant further agrees that
Landlord shall not be liable for any such damages
resulting to the Tenant from such action.
16.3 Pursuit of any of the foregoing remedies shall not prelude pursuit
of any other such remedies herein provide by law, nor shall pursuit of any other
such remedy constitute a forfeiture or waiver of any rent due to Landlord by
reason of violation of any of the terms, provisions and covenants herein
contained. Forbearance by Landlord to enforce one or more of the remedies herein
provided upon an event of default shall not be deemed or construed to constitute
a waiver of such default. In determining the amount of loss or damage which
Landlord may Suffer by reason of termination of this Lease or the deficiency
arising by reason of any reletting by Landlord as above provided, allowance
shall be made for the expense of repossession and any repairs or remodeling
undertaken by Landlord following repossession.
16.4 If on, account of any breach or default by Tenant in its
obligations hereunder, Landlord shall employ an attorney to enforce or defend
any of Landlord's right or attorney's fees and costs incurred by Landlord in
such connection.
16.5 Landlord hereby acknowledges receipt from Tenant of the sum stated
in Section 1.1 (i) above, to be applied to the first accruing installments of
rent.
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16.6 Landlord further acknowledges receipt from Tenant of the sum
stated in Section 1.1(j) above, to be held by Landlord, without covenants and
obligations under this Lease, it being expressly understood that such deposit is
not an advance payment of rental or a measure of Landlord's damages in case of
default by Tenant. Upon the occurrence of any event of Tenant, Landlord may,
from time to time, without prejudice to any other remedy provided herein or
provided by law, use such fund to the extent necessary to make good any arrears
of rent and other damage, injury, expense or liability caused to Landlord by
such event or default, and Tenant shall pay to Landlord, on demand, the amount
so applied in order to restore the security deposit to its original amount. If
Tenant is not then in default hereunder, any remaining balance of such deposit
shall be returned by Landlord to Tenant upon termination of this Lease.
ARTICLE XVIII
LANDLORD'S LIEN
17.1 Landlord shall, in the event of default, as provided for in
Section 17, have the right to place a lien for all rentals and other sums of
money becoming due hereunder from Tenant, upon all goods, wares, equipment,
fixtures, furniture, and all personal property situated on the Demised Premises,
and such property shall not be removed there from without the consent of
Landlord until all arrearages in rent and other sum of money then due to
Landlord hereunder shall first have been paid. Upon the occurrence of an event
of default by Tenant, Landlord may, in addition to any other remedies provided
herein or by law, enter upon the Demised Premises and take possession of any and
all goods, wares, equipment, fixtures, furniture, and all personal property
situated on the Demised Premises without liability for trespass or conversions,
and sell the same with or without having such property at the sale, at which
Landlord or its assigns may purchase, and apply to proceeds thereof, less any
and all expenses connected with the taking of possession and sale of the
property, as a credit against any sums due by Tenant to Landlord. Any surplus
shall be paid by Tenant, and Tenant agrees to pay any deficiency forthwith.
Alternatively, the lien hereby granted may be foreclosed in the manner provided
by law. The statutory lien herein granted being an addition and supplementary
thereto.
ARTICLE XIX
PERMITS
18.1. Tenant shall, at Tenant's own cost and expense, procure each and
every permit, license, certificate or other authorization required in connection
with the lawful and proper use of the Demised Premises or required in connection
with any building or improvements now or hereafter erected on the Demised
Premises.
ARTICLE XX
ASSIGNMENTS AND SUBLETTING
19.1 Tenant shall not assign this Lease or sublet the whole or any part
of the Demised Premises, without the prior written consent of the terms and
provisions of this Lease. Notwithstanding any such assignment or subletting,
Tenant shall, at all times, remain fully responsible and liable for the payment
of the rent herein specified and for compliance with all of its other
obligations under the terms, provisions and covenants of this Lease. If an
"event of default" as heretofore defined should occur while the Demised Premises
or any part thereof are the assigned or sublet, Landlord, in addition to any
other remedies herein, provided by law, may at its option, collect directly from
such assignment or sublease and apply such rent against any sums due to it by
Tenant hereunder.
19.2 Landlord shall have the right to transfer and assign, in whole or
in part, all and every feature of its rights and obligations hereunder, and in
the Building and property referred to herein. Such transfers or assignments may
be made either to a corporation, trust company, individual, or group of
individuals, and howsoever made are to be in all things respected and recognized
by Tenant.
ARTICLE XXI
HOLDING OVER
20.1 In the event that Tenant remains in possession of the Demised
Premises after the expiration of this Lease and without the execution of a new
Lease, it shall be deemed to be occupying the Demised Premises as a
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tenant from month-to-month at a rental equal to the rental herein provided,
(one hundred (100%) percent) of such amounts and otherwise subject to all the
conditions, provisions and obligations of this Lease.
ARTICLE XXII
TERMINATION
21.1 By the last day of the term hereof or on the earlier termination
thereof, Tenant shall peaceably and quietly leave, surrender and deliver up to
Landlord the Demised Premises, broom clean, together with any and all
alterations, changes, additions and improvements which may have been made upon
the Demised Premises, in thorough repair and good order and safe condition.
Tenant, on or before said date, shall remove all of the Tenant's personal
property for the Demised Premises and all property not so removed shall be
deemed to have been abandoned any may be appropriated, sold, or destroyed or
otherwise disposed of by Landlord without obligation to account therefor. Tenant
shall reimburse Landlord for any cost incurred by Landlord to remedy any default
of Tenant's responsibilities of this section 23.1.
21.2. If the Demised Premises be not surrendered, Tenant, in addition
to the rental provided for by Article XXII hereof, shall indemnify Landlord from
and against all claims made by a succeeding tenant.
ARTICLE XXIII
NOTICE
22.1 All notices, demands, and communications hereunder shall be served
or given by registered mail, and if intended for Landlord, shall be addressed to
Landlord as provided in Article 1, Section 1.1, if intended for Tenant, shall be
addressed to Tenant, in writing. Any notices given hereunder by mail shall be
deemed to be delivered when deposited in a United States or general or branch
post office, enclosed in a registered, prepaid wrapper, addressed as above
provided.
ARTICLE XXIV
LATE PAYMENT
23.1 Any rent or any portion thereof remaining unpaid for five (5) days
after it is due and without demand, Tenant agrees to pay Landlord (ten (10%)
percent) of the monthly rental rate to defray the expense incurred by Landlord
as a result of late rental payment and also as penalty for late payment. After
ten (10) days an additional five dollars ($5.00) per day and shall extend for
the term of the Lease. This provision shall not be construed as a waiver of any
of Landlord's rights relating to Tenant's default.
ARTICLE XXV
PLACE OF PAYMENT
24.1 All payments of rent or other sums to be paid Landlord hereunder
shall be sent to: University Area Rentals, 0000 Xxxxx Xxxx Xxxxxx, Xxxxxxxx,
Xxxx 00000.
ARTICLE XXVI
25.1 This Lease contains the entire agreement between the parties and
shall not be modified or amended in any manner, except by an instrument in
writing executed by the parties or their respective successors in interest.
25.2 This Lease shall be governed by and construed in accordance with
the laws of, or applicable to, the State of Ohio.
25.3 The article titles are inserted only as a matter of convenience
and for the reference and in no way define, limit or describe the scope of
intent of this Lease, nor in any way affect this Lease.
25.4 This Lease may be executed in any number of counterparts, each of
which, when so executed, shall be deemed to be an original.
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25.5 If any clause or provision of this Lease is illegal, invalid or
unenforceable under a present or future law effective during the term of this
Lease, then and in that event, it is the intention of the parties hereto that
the remainder of this Lease shall not be affected thereby, and it is also the
intention of the parties to this Lease that in lieu of each clause or provision
of this Lease that is illegal, invalid or unenforceable, there be added as a
part of this Lease a clause or provision as similar in terms to such illegal,
invalid, or unenforceable clause or provision as may be possible and be legal,
valid and enforceable.
ARTICLE XXVII
ADDITIONAL TERMS
IN WITNESS WHEREOF, The parties have executed this lease as of the day
and year here in below written. The later of the dates appearing below shall be
the effective date of this lease.
Signed and acknowledged Signed and acknowledged
in the presence of: Landlord:
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Xxxxx X. Xxxxxxx DBA
University Area Rentals
Signed and acknowledged Signed and acknowledged
in the presence of: Tenants:
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Xx Xxxx, President
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Date
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