ex10-7.htm


    
      



      FIRST
AMENDMENT OF LEASE AGREEMENT

      


      THIS AGREEMENT is entered into
the ____ day of November, 2005 by and between Ethos Business Venture, L.L.C.
(“Landlord”), 181C Hague Blvd, Glenmont, New York 12077 and Dais Analytic
Corporation (“Tenant”), having a place of business at 11552 Prosperous Drive,
Odessa, Florida 33556. Landlord and Tenant are referred to herein individually
as “Party” and collectively as the “Parties.”

      


      WHEREAS, Landlord and Tenant
entered into a commercial lease agreement dated March 18, 2005 pursuant to which
Landlord leased to Tenant the property described in Attachment A thereof as
11552 Prosperous Drive, Odessa, Florida 33556 for a term  commencing
March 18, 2005 and ending November 17, 2005 (“Lease Agreement”);
and

      


      WHEREAS, the Parties desire to
extend the term of said lease in accordance with the terms and conditions set
forth below.

      


      NOW, THEREFORE, in
consideration of the premises and the mutual agreements contained herein,
Landlord and Tenant hereby agree as follows:

      


       

      
        	
                A.

              	
                Article
      II is hereby deleted in its entirety and the following inserted in place
      thereof:

              


      

       

      
        	
                 
      

              	
                “ARTICLE
      II – LEASE TERM

              


      

      
 

      
        	
                               
      2.1

              	    
      Term of Lease. The term of this Lease shall begin on the Commencement Date
      and end on Termination Date (“Initial Term”).
	 	 
	
                               
      2.2

              	    
      Commencement Date. The "Commencement Date" shall mean March 18,
      2005.
	
                                2.3

              	  

                 Termination Date. The “Termination Date” shall mean the day
      immediately following thirty (30) days written notice from one Party to
      the other terminating the Lease Agreement or such earlier date upon
      which   

                 this
      Agreement terminates pursuant to any term or condition
      herein.”

              


      

       

       

      
        	
                B. 
      

              	
                Article
      IV is hereby deleted in its entirety and the following inserted in place
      thereof:

              


      

       

      
        	
                 
      

              	
                “ARTICLE
      IV – DETERMINATION OF RENT

              


      

       

      
        	
                              
      4.1

              	
                The
      Tenant agrees to pay to the Landlord and the Landlord agrees to accept,
      during the Initial Term, at such place as the Landlord shall from time to
      time direct by notice to the Tenant, rent at the following rates and
      times:

              


      

       

      
        	
                 
      

              	
                (a)

              	
                Rent for Initial
      Term.  The rent for the first eight months of the Initial Term
      of this lease shall be Twenty Eight Thousand Eight Hundred Dollars
      ($28,800.00) (“Initial Rent”), plus applicable sales tax and shall be
      payable in advance in eight monthly installments due and payable on the
      eighteenth (18th) day of each and every calendar month during said period.
      The monthly installment due for each of the first three (3) months of the
      Initial Term shall be Two Thousand Six Hundred Dollars ($2,600.00) plus
      applicable sales tax. The monthly installment for each of the following
      five (5) months of the Initial Term shall be Four Thousand Two Hundred
      Dollars ($4,200.00) per month plus applicable sales
  tax.

              


      

       

       

      
        
          
            
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Amendment to Lease – 11552 Prosperous Drive, Odessa – Dais / Ethos Business –
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                (b)

              	
                The
      rent for the ninth month of the Initial Term of this Lease and for each
      month of this Lease thereafter shall be Three Thousand Eight Hundred
      Dollars ($3800.00) per month plus applicable sales tax and shall be due
      and payable in advance in monthly on the eighteenth day of each and every
      calendar month during the term of this
  Agreement.

              


        

          	 	
                  (c)

                	A late fee may be
      assessed by Landlord on any payment of the aforementioned rent not
      postmarked or received by Landlord on or before the due date of such
      payment. Said late fee shall be Twenty Five Dollars ($25.00) per day for
      each day payment is late.”


                          

        

      

      

        	
                C.

              	
                Section 18.6 is hereby deleted in its entirety and
      the following inserted in place thereof:

              


      

       

      
        	
                 
      

              	
                “18.6
      Notice. Any notice required hereunder shall be given in writing (unless
      otherwise specified herein) and shall be deemed effectively given upon (a)
      personal delivery, or (b) five business days after deposit in the United
      States Postal Service, Certified Mail, Return Receipt requested, postage
      prepaid, or (c) facsimile transmission with confirmation of receipt or
      transmission, or (d) overnight mailing by a nationally recognized
      overnight express courier, with postage and fees prepaid, addressed to the
      other Party at the address first written above, or at such other address
      as a Party may designate by ten days advance notice. Either Party may
      designate a specific recipient to whose attention the notice shall be
      made.”

              


      

       

      
        	
                D.

              	
                Other
      than as provided above, all terms and conditions of the Lease Agreement
      shall remain unchanged and full force and
  effect.

              


      

       

      IN WITNESS
WHEREOF, the Landlord and the Tenant have duly executed and delivered
this Agreement as of the day and year first above written.

       

       

      
        	
                TENANT:      

              	 
      	 
      	
                 LANDLORD:

              	 
      
	 
      	 
      	 
      	 
      	 
      
	
                DAIS
      ANALYTIC
      CORPORATION                                                                                  

              	 
      	 
      	
                 ETHOS
      BUSINESS VENTURE, L.L.C.

              	 
      
	 
      	 
      	 
      	 
      	 
      
	
                /s/
      R.W.
      Brown                                                                                   

              	 
      	 
      	
                /s/
      Brian Kelly

              	 
      
	 
      	 
      	 
      	 
      	 
      
	
                Printed:

              	 
      	 
      	
                Printed:  

              	 
      
	
                Name:
      Robert
      Brown                                                          

              	 
      	 
      	
                Name:
      Brian Kelly

              	 
      
	
                Title:
      Vice President 

              	 
      	 
      	 
      	 
      


      

       

       

       

      
        
          
            
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