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Exhibit 10.25
GENERAL LEASE AGREEMENT
This Lease is made this 1st day of March 1999, by and between Narco Avionics,
Inc. ("Landlord") and Real Media, Inc. ("Tenant").
1. Premises to be Leased. Landlord agrees to lease to Tenant the premises
known as and located at the following address:
000 Xxxxxxxx Xxxxx
Xx. Xxxxxxxxxx, Xxxxxxxxxxxx 00000
Approximately 5,100 square feet, second floor, front building
2. Terms of Lease. This Lease shall begin on March 1, 1999 and will continue
for a period of one year. Tenant shall pay $4,250.00 per month as rent to
the Landlord. Rent shall be due on the first day of each month through the
term of the Lease. This Lease may be canceled by either party upon giving
60 days notice either at the end of the original term, or any time
thereafter. In the absence of any notice, the Lease will continue on a
month-to-month basis until renewed or cancelled. Terms of the Lease renewal
will be negotiable. Landlord reserves the right to cancel the Lease at any
time during Lease Term in the event of a change in ownership of the
building (and hence Premises) with a minimum of six (6) months notice to
Tenant.
3. Security Deposit. No Security Deposit is required. Significant Cosmetic
improvements to premises paid for by Tenant (such as Carpeting), can be
negotiated into an amortizable security deposit with consent of Landlord.
4. Subletting. Tenant promises not to assign or transfer this Lease or any
interest in this Lease, or sublet the premises without the prior written
consent of the Landlord.
5. Liens and Encumbrances. Tenant promises not to allow any liens or
encumbrances to attach to premises.
6. Occupancy. Tenant shall be entitled to use the premises for office
purposes. No pets shall be permitted on the premises.
7. Maintenance. Tenant shall maintain the premises in a safe and sanitary
condition; dispose of all garbage, rubbish and waste in a clean, safe and
legal manner, the storage of garbage on the premises being strictly
prohibited; keep all plumbing fixtures in the premises clean, sanitary and
in good working order; use and operate all electrical fixtures and plumbing
fixtures properly; comply with all obligations imposed upon Tenants by
applicable provisions of housing, building and health codes; refrain, and
forbid any other person from destroying, defacing, damaging, or removing
any part of the premises. Tenant shall not make any alterations to the
premises or change any locks on the premises without the prior written
consent of the Landlord. Tenant shall not do anything on the premises that
will increase or make void Landlord's insurance on the premises.
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8. Parking. Tenant shall be entitled to use of designated motor vehicle
parking facilities. Tenant acknowledges that any and all vehicles parked in
the area described in this paragraph are parked at the Tenant's own risk.
9. Utilities. Tenant shall be responsible for all deposits and payments for
the following utilities: Phone. A Utility Surcharge for all other building
services, including electric, gas, sewer and trash will be assessed at the
beginning of each month at $1.86 per square foot, and be due and payable by
the first of each month. Total Monthly Utility Surcharge for Premises:
$790.
10. Landlord Duties. Landlord shall comply with the requirements of all
building, housing and health codes as they apply to Landlord. Landlord
shall pay all real estate taxes and assessments as due, but reserves the
right to contest any such tax assessments.
11. Premises As Is. Tenant acknowledges that he has inspected the premises
prior to signing the Lease and accepts the premises in its present
condition.
12. Liabilities. Tenant agrees to assume all liability and hold Landlord
harmless from any and all injuries to persons or damage to property caused
by Tenant or any other person on the premises with Tenant's permission.
Tenant agrees to pay any costs and attorney fees incurred by Landlord in
defending any lawsuit or other action brought in regard to such injuries or
damage. All personal property in the premises is at Tenant's risk only and
Landlord shall not be liable for any damages to it, nor is Landlord
responsible for insuring Tenant's personal property.
13. Destruction of Premises. In the event more than half of the premises is
destroyed by fire or other loss, Landlord and Tenant agree that this Lease
shall become void at the option of either Landlord or Tenant.
14. Default. If Tenant makes any default on this Lease it shall be lawful for
Landlord and his representatives and agents to re-enter and repossess the
premises, or evict Tenant in the manner prescribed by law. Waiver of any
default by the Landlord shall not be construed as a waiver of any
subsequent default.
15. Access. Tenant shall allow Landlord access to the premises for purposes of
repair and inspection. Landlord shall exercise this right of access in a
reasonable manner. Landlord shall give Tenant reasonable notice before
exercising right of access, except in case of emergency.
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16. Notice. All notices required by this Lease shall be provided in writing,
and mailed to the parties as follows:
If to Landlord: 000 Xxxxxxxx Xxxxx
Xxxx Xxxxxxxxxx, XX 000000
If to Tenant: 000 Xxxxxxxx Xxxxx
Xxxx Xxxxxxxxxx, XX 00000
17. Parties Bound. This Lease and the promises and agreements it contains shall
be binding on the respective heirs, successors, representatives, agents and
assigns of the parties.
18. Complete Agreement. This Lease is the complete and final agreement of
Landlord and Tenant in regard to the premises described in this Lease. This
Lease supersedes any oral or written agreements regarding these premises.
Dated this 18th day of March in the year 1999.
LANDLORD: TENANT:
Narco Avionics, Inc. Real Media, Inc.
By: /s/ Xxxxx X. Xxxxx By: /s/ Xxxx Xxxxxxx
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Xxxxx X. Xxxxx Xxxx Xxxxxxx
Its General Manager Its SVP Ops/HR
