Exhibit 10.18


 


LEASE


 


THIS LEASE (“Lease”)
is made and entered into as of the “Effective Date” (as defined in Section 23.18
below), by and between, Theriac Enterprises of Bradenton, LLC, a Florida
limited liability company, whose business address is 5292 Summerlin Commons
Way, Suite 1103, Fort Myers, Florida 33907 (“Landlord”), and 21st Century Oncology, Inc., whose business
address is 2234 Colonial Blvd. Fort Myers, FL 33907 (“Tenant”).


 


WITNESSETH:


 


ARTICLE 1

TERMS


 


1.1 Premises.
Landlord hereby demises and leases to Tenant and Tenant hereby hires and rents
from Landlord the units more particularly described on attached Exhibit “A”
(the “Premises”), which contain approximately 10,441 rentable square
feet within the Commercial Condominium known as “Lakewood Ranch M.O.B. II” (the
“Condominium”) pursuant to the Declaration of Condominium recorded in
Official Records Book 2204, Page 1654, as amended, all in the Public
Records of Manatee County, Florida (the “Declaration”) and located at
6310 Health Parkway, Lakewood Ranch, FL 34202 (the “Building”), upon the
terms, covenants and conditions set forth below.


 


1.2 Use. The Premises
are to be used for a medical office and radiation therapy center and ancillary
services.


 


1.3 Commencement of Term.
The commencement of the Term of this Lease under which Tenant shall be
obligated to commence payment of Base Rent and Additional Rent shall be October 8,
2008 (the “Commencement Date”).


 


1.4 Length of the Term.
The term of this Lease is for a period of ten (10) years (the “Term”)
beginning on first day of the month immediately following the Commencement Date
and, unless this Lease is renewed in accordance with Article 4 below,
expiring on the last day of the one hundred twentieth month thereafter (the “Expiration
Date”).


 


1.5 Tenant’s
Proportionate Share. Tenant shall be responsible for its proportionate
share (the “Tenant’s Proportionate Share”) of all operating costs,
taxes, assessments, insurance and all other expenses related to the Building
and/or Condominium, as applicable, based on the rentable square footage of the
Premises divided by the rentable square footage for the Condominium, which is
currently 20.98% (10,441 s.f./ 49,773 s.f.), whether such costs are paid by the
Landlord or the Condominium Association (as defined below). In the event
additional phases of the Condominium are constructed, Tenant’s Proportionate
Share shall be adjusted accordingly.


 


1.6 The “Condominium
Association” means Lakewood Ranch M.O.B.Condominium Association, Inc.,
a Florida non-profit corporation, created under the Declaration whose address
is 1001 3rd Avenue West, Suite 600, Bradenton FL
34205, Attn: John M. McKay, President.


 

















 


ARTICLE 2 

RENT


 


2.1 The base rent for the
Premises (“Base Rent”) shall be the Fair Market Rental Value of the Premises
(the “FMR”) as of the Commencement Date based on the following:


 


2.1.1
Landlord and Tenant shall seek to agree as to the amount of the FMR, taking
into consideration all relevant factors (collectively, the “Factors”).
If Landlord and Tenant cannot mutually agree upon the FMR within sixty (60)
days of the Commencement Date (the “Notice Date”), then (i) Landlord
and Tenant, no later than fifteen (15) days after the Notice Date, shall give
written notice to the other party setting forth its reasonable, good faith
calculation of the FMR and (ii) the FMR shall be determined by arbitration
as hereinafter provided.


 


2.1.2
Pursuant to such arbitration, Landlord and Tenant each shall, no later than the
day that is forty-five (45) days following the Notice Date, select a Real
Estate Appraiser, as hereinafter defined. If either party shall fail to so
appoint a Real Estate Appraiser, the one Real Estate Appraiser so appointed
shall proceed to determine the FMR in accordance with the terms hereof. In the
event that the Real Estate Appraisers selected by Landlord and Tenant agree as
to the FMR, said determination shall be binding on Landlord and Tenant. In the
event that the Real Estate Appraisers selected by Landlord and Tenant cannot
agree as to the FMR on or before the day that is sixty (60) days following the
Notice Date, then said Real Estate Appraisers shall jointly select a third Real
Estate Appraiser, provided that if they cannot agree on the third Real Estate
Appraiser on or before the day that is seventy-five (75) days following the
Notice Date, then said third Real Estate Appraiser shall be selected in
accordance with the rules prescribed by the AAA in Manatee County, Florida
(or any successor thereto). The FMR shall then be determined by the third Real
Estate Appraiser no later than the day that is one hundred five (105) days
following the Notice Date and said determination shall be binding on Landlord
and Tenant. In making their determinations, the Real Estate Appraiser(s) shall
consider the Factors and shall follow the directions set forth in this Article.
The Real Estate Appraiser(s) shall be required to select either the FMR
proposed by Landlord or the FMR proposed by Tenant as the actual annual fair
market rental of the Premises. The term “Real Estate Appraiser” shall mean a
fit and impartial person having not less than ten (10) years’ experience
as an appraiser of medical oncology radiation treatment centers and in
addition, shall have had reasonable experience appraising leasehold estates in
Nebraska and/or the surrounding states. The appraisal shall be conducted in
accordance with the provisions of this Section and, to the extent not
inconsistent herewith, in accordance with the prevailing rules of the AAA
in Manatee County, Florida (or any successor thereto). The final determination
of the Real Estate Appraiser(s) shall be in writing and shall be binding
and conclusive upon the parties, each of which shall receive counterpart copies
thereof. In rendering such decision the Real Estate Appraiser(s) shall not
add to, subtract from or otherwise modify the provisions of this Lease.
Landlord and Tenant shall each pay the fees


 


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of their respective Real
Estate Appraisers. The fees of the third Real Estate Appraiser, if any, shall
be divided evenly.


 


2.1.3
If at the commencement date of the Term, the amount of Base Rent payable during
the Term in accordance with the foregoing paragraphs of this Article shall
not have been determined, then, pending such determination, Tenant shall pay
Base Rent at the rate proposed by Landlord for the Term (the “Temporary Rate”).
After the determination by arbitration of the FMR, if the Base Rent payable by
Tenant hereunder is greater or less than the Temporary Rate, Landlord shall
promptly pay to Tenant the excess of the Temporary Rate over (or Tenant shall
promptly pay to Landlord the shortfall of the Temporary Rate below) the Base
Rent payable by Tenant hereunder.


 


2.2 2.1.4 In no event shall
the first year’s Base Rent be less than Fifty and no/100 Dollars per square
foot ($30.00/s.f.) for the Premises.


 


2.3 Additional Rent.
In addition, Tenant shall pay monthly as Additional Rent payments of Tenant’s
Proportionate Share equal to Landlord’s reasonable estimate of the applicable
taxes, assessments and insurance on the Condominium. This amount will be Tenant’s
Proportionate Share times 1/12th of anticipated bills for annual real estate
taxes, Condominium assessments, and insurance applicable to the Premises and
Condominium. The estimated figures for taxes, assessments and insurance will be
produced within ten (10) days after the signing of this Lease. Each year
Landlord will produce any insurance, real estate tax and assessment bills to
the Tenant to show how the estimated taxes, assessments and insurance were
computed as Additional Rent. In the event of any overage or underage due to the
actual amounts owed and the payments made based on the estimated amounts during
any Lease year, Landlord shall reimburse to Tenant the amount of any overage
paid by Tenant or Tenant shall pay to Landlord the amount of any underage due
from Tenant in either case within thirty (30) days of the delivery of the bills
to Tenant as herein provided.


 


2.4 Annual Increase in
Base Rent. There will be an increase in the Base Rent starting on the first
anniversary of the lease if the Consumer Price Index increases over the
immediately preceding year. Base Rent specified in this lease shall be subject
to increase in accordance with changes in the Consumer Price Index for Urban
Wage Earners and Clerical Workers (CPI-W) as promulgated by the Bureau of Labor
Statistics of the United States Department of Labor, using the year of the
Commencement Date as a base of 100. On each anniversary date there will be a
rent adjustment based on the percentage increase in the Consumer Price Index
from the immediately preceding year. If the Consumer Price Index goes down the
rent will not change for that year. Consumer Price Index increases will apply
on the anniversary date of each year of the Commencement Date. The percentage
increase in the Consumer Price Index will increase the Base Rent for that year.


 


2.4.1
In the event that the Consumer Price Index ceases to incorporate significant
number of items, or if a substantial change is made in the method of
establishing such Consumer Price Index shall be adjusted to the figure that
would have resulted had no change occurred in the manner of computing such
Consumer Price Index, or a successor or substitute index, is not available, a reliable
governmental or other


 


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nonpartisan publication,
evaluating the information for use in determining the Consumer Price Index,
shall be used in lieu of such Consumer Price Index.


 


2.5 Late Charge.
Tenant shall pay to Landlord a late charge equal to five percent (5%) of the
monthly payment of Base Rent, Additional Rent and any other payment or charge
due hereunder if any such amount is received by Landlord more than ten (10) days
after the same shall be due, such amount being the agreed upon liquidated
damages solely to defray the additional administrative expenses incurred by
Landlord in processing such payment.


 


2.6 Interest on Past Due
Rent. If Tenant shall fail to pay, within ten (10) days receipt of written
notice, any Base Rent, or Additional Rent, such unpaid amounts shall bear
interest from the due date thereof to the date of payment, at the prime
interest rate of the JPMorgan Chase Bank as of such due date, plus ten percent
(10%) (the “Default Rate”).


 


2.7 Definition of Rent.
The term “Rent” shall refer collectively to Base Rent and Additional
Rent. The term “Additional Rent” is sometimes used herein to refer to any and
all other sums payable by Tenant hereunder, including, but not limited to,
parking charges and sums payable on account of default by Tenant. All Rent
shall be paid by Tenant without offset, demand or other credit, and shall be
payable only in lawful money of the United States of America which shall be
legal tender in payment of all debts and dues, public and private, at the time
of payment. All sums payable by Tenant hereunder by check shall be obtained
against a financial institution located in the United States of America. All
Rent shall be paid by Tenant and delivered to: 5292 Summerlin Commons Way, Suite 1103, Attn: Cathy Newkirk, Fort
Myers, Florida 33907.


 


2.8 Rent Taxes. In
addition to Base Rent and Additional Rent, Tenant shall and hereby agrees to
pay to Landlord each month a sum equal to any sales tax, tax on rentals and any
other similar charges now existing or hereafter imposed, based upon the
privilege of leasing the space leased hereunder or based upon the amount of
rent collected therefore.


 


ARTICLE 3 

NET LEASE


 


3.1 Net Lease. This
Lease shall be deemed and construed to be a net lease and, except as herein
otherwise expressly provided, the Landlord shall receive the fixed Base Rent
and Additional Rent and all other payments hereunder to be made by the Tenant
absolutely free from any charges, assessments, imposition, expenses or
deductions of any kind and every kind or nature whatsoever. Tenant is to pay
Tenant’s Proportionate Share of all real estate taxes and assessments and any
and all taxes of any nature applicable to the Condominium. In addition, Tenant
is to pay Tenant’s Proportionate Share of all insurance and any and all costs
for repairs, replacements, maintenance and improvements, expenses for common
areas, utilities, and association fees, if any. Tenant also is responsible for:


 


3.1.1
Its proportionate share of any parking lot repairs, maintenance and
replacements.


 


3.1.2
The entire amount due for security, pest control or contracts for air
conditioning and cleaning services, etc., if any, for the Premises.


 


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3.1.3
The Condominium assessments applicable to the Premises.


 


ARTICLE 4

OPTION TO RENEW


 


4.1 Option to renew.
Provided that Tenant is not then in default under any of the covenants, terms,
conditions, and provisions of this Lease beyond any applicable notice and cure
period, then Tenant shall have three (3) options to renew this Lease (each
an “Option”) for consecutive Ten (10) year option periods, provided
that, in order to exercise this Option, Tenant is required to give to Landlord
written notice thereof not less than six (6) months before, nor more than
nine (9) months prior to the date of expiration of the Term of this Lease
or the then expiring option period. Other than Base Rent due under the Option
Term(s), any renewal pursuant to this Option shall be on the same terms and
conditions as are contained in this Lease.


 


4.2 Determination of Base
Rent. In the event that Tenant exercises its option to extend the term of
this lease, the Landlord shall provide written notice to Tenant of the amount
which, in Landlord’s reasonable opinion, represents the FMR for the upcoming
Option Term. Tenant shall have twenty (20) days from receipt of said written
notice to respond to Landlord in writing as to whether or not Tenant agrees
with Landlord’s determination of the FMR. Tenant’s failure to respond within
said twenty (20) day period shall be deemed to be Tenant’s agreement with the
Landlord’s determination of Base Rent. In the event Tenant disagrees with the
Landlord’s determination, the following procedure shall be used in determining
the FMR for the Option Term:


 


4.2.1
As used in this Section 4, the term “FMR” shall mean the annual fair
market rental value of the Premises in its condition on the Rent Appraisal Date
and the term “Rent Appraisal Date” shall mean the first day of the
Renewal Term.


 


4.2.2
Landlord and Tenant shall seek to agree as to the amount of the FMR, taking
into consideration the Factors. If Landlord and Tenant shall not agree as to
the FMR by the date which is thirty (30) days after the date Tenant notifies
Landlord that Tenant intends to renew this Lease (the “Renewal Notice Date”),
then (i) Landlord and Tenant, no later than forty-five (45) days after the
Renewal Notice Date, shall give a notice to the other party setting forth its
reasonable, good faith calculation of the FMR and (ii) the FMR shall be
determined by arbitration as hereinafter provided. The failure of Landlord or
Tenant to provide such notice regarding the FMR shall not vitiate Tenant’s
exercise of Tenant’s renewal rights.


 


4.2.3
Pursuant to such arbitration, Landlord and Tenant each shall, no later than the
day that is forty-five (45) days following the Renewal Notice Date, select a
Real Estate Appraiser, as hereinafter defined. If either party shall fail to so
appoint a Real Estate Appraiser, the one Real Estate Appraiser so appointed
shall proceed to determine the FMR in accordance with the terms hereof. In the
event that the Real Estate Appraisers selected by Landlord and Tenant agree as
to the FMR, said determination shall be binding on Landlord and Tenant. In the
event that the Real Estate Appraisers selected by Landlord and Tenant cannot
agree as to the FMR on or before the day that is sixty (60) days following the
Renewal Notice Date, then:


 


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(a) if
the difference between the valuations by the two Real Estate Appraisers is less
than Two and no/100 Dollars ($2.00) per square foot per year, the Base Rent
shall be the average of such valuations; or


 


(b) if
the difference between the valuation by the two Real Estate Appraisers is Two
and no/100 Dollars ($2.00) per square foot per year or more, the Real Estate
Appraisers shall jointly select a third Real Estate Appraiser, provided that if
they cannot agree on the third Real Estate Appraiser on or before the day that
is seventy-five (75) days following the Renewal Notice Date, then said third
Real Estate Appraiser shall be selected in accordance with the rules prescribed
by the AAA in Manatee County, Florida (or any successor thereto). The FMR shall
then be determined by the third Real Estate Appraiser no later than the day
that is one hundred five (105) days following the Renewal Notice Date. The FMR
established by the third Real Estate Appraiser must either be equal to or fall
between the FMR proposed by Landlord and/or the FMR proposed by Tenant, and
said determination shall be binding on both Landlord and Tenant as the actual
annual fair market rental of the Premises.


 


4.2.4
In making their determinations, the Real Estate Appraiser(s) shall
consider the Factors and shall follow the directions set forth in this Article.
The term “Real Estate Appraiser” shall mean a fit and impartial person having
not less than ten (10) years’ experience as an appraiser of medical
oncology radiation treatment centers and in addition, shall have had reasonable
experience appraising leasehold estates in Florida and/or the surrounding
states. The appraisal shall be conducted in accordance with the provisions of
this Section and, to the extent not inconsistent herewith, in accordance
with the prevailing rules of the AAA in Manatee County, Florida (or any
successor thereto). The final determination of the Real Estate Appraiser(s) shall
be in writing and shall be binding and conclusive upon the parties, each of
which shall receive counterpart copies thereof. In rendering such decision the
Real Estate Appraiser(s) shall not add to, subtract from or otherwise
modify the provisions of this Lease. Landlord and Tenant shall each pay the
fees of their respective Real Estate Appraisers. The fees of the third Real
Estate Appraiser, if any, shall be divided evenly.


 


4.2.5
If at the commencement date of the Renewal Term, the amount of base rent
payable during the Renewal Term in accordance with the foregoing paragraphs of
this Article shall not have been determined, then, pending such
determination, Tenant shall pay Base Rent at the rate proposed by Landlord for
the Renewal Term (the “Renewal Temporary Rate”). After the determination
by arbitration of the FMR, if the base rent payable by Tenant hereunder is
greater or less than the Renewal Temporary Rate, Landlord shall promptly pay to
Tenant the excess of the Renewal Temporary Rate over (or Tenant shall promptly
pay to Landlord the shortfall of the Renewal Temporary Rate below) the Base
Rent payable by Tenant hereunder.


 


4.2.6
Under no circumstance will the Base Rent for the first year of any upcoming
Option Term be less than the Base Rent for then current Lease year.


 


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ARTICLE 5

INSURANCE AND INDEMNITY


 


5.1 Insurance. At all
times during the Term, unless the Condominium Association has procured same,
Tenant will carry and maintain, at Tenant’s expense, on an occurrence basis,
the following insurance, in the amounts and on the forms specified below or
such other amounts and on such other forms as Landlord and/or the Condominium
Association may from time to time reasonably request, with insurance companies
reasonably satisfactory to Landlord and the Condominium Association:


 


5.1.1
Fire and extended coverage insurance insuring the full replacement cost of the
Building in which the Premises is located, its equipment, and the Common Areas;


 


5.1.2
Comprehensive general liability insurance, together with a broad form
comprehensive general liability endorsement, covering bodily injury to or
personal injury to or death of any person, or more than one (1) person, or
for damage to property in an amount of not less than $1 million combined single
limit each Occurrence/General Aggregate and including a per location General
Aggregate endorsement. All such insurance will be written on the most current
occurrence ISO Commercial General Liability Form including without
limitation, personal injury and contractual liability coverage for the
performance by Tenant of the indemnity agreements set for in this Lease, which
insurance shall include a waiver of subrogation rights in favor of Landlord;


 


5.1.3
Insurance covering all of Tenant’s furniture and fixtures, machinery,
equipment, and any other personal property owned and used in Tenant’s business
and found in, on, or about the Premises, and any leasehold improvements to the
Premises in an amount not less than the full replacement cost under Standard
Fire and Extended Coverage Policy and all other risks of direct physical loss
as insured against under Special Form (“all risk of direct physical loss”
coverage). All such insurance will be written on the most current ISO
Commercial Property Form. All policy proceeds will be used for the repair or
replacement of the property damaged or destroyed; except, however, if this
Lease ceases under the provisions of Article 15, Tenant will be entitled
to any proceeds resulting from damage to Tenant’s furniture and fixtures,
machinery, equipment, and any other personal property;


 


5.1.4
Worker’s compensation insurance insuring against and satisfying Tenant’s
obligations and liabilities under the worker’s compensation laws of the State
of Florida, and Employer’s Liability Insurance in the limits required by the
laws of the State of Florida, but in an amount not less than $500,000.00
aggregate;


 


5.1.5
Such other insurance (including without limitation plate glass insurance), in
such amounts as Landlord or its lender and/or the Condominium Association may
reasonably require of Tenant upon thirty (30) days’ prior written notice.


 


5.2 Forms of Policies.
All policies of liability insurance which Tenant is obligated to maintain
according to this Lease (other than any policy of worker’s compensation
insurance) will name Landlord, the Condominium Association and such other
persons or firms as Landlord


 


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specifies from time to time
as additional insured’s. Original or copies of original policies and
certificates of insurance on the most current ACORD form (together with copies
of the endorsements naming Landlord, the Condominium Association and any others
specified by Landlord as additional insured’s) and evidence of the payment of
all premiums of such policies will be delivered to Landlord prior to the
earlier of the Commencement Date or Tenant’s occupancy of the Premises and from
time to time at least thirty (30) days prior to the expiration of the term of
each such policy. Tenant’s insurer shall have a Best Rating of at least A- and
be assigned a financial size category of at least Class X as rated in the
most recent edition of “Best’s Key Rating Guide” for insurance companies. All
liability policies maintained by Tenant will contain a provision that Landlord
and any other additional insured’s, although named as an insured, will
nevertheless be entitled to recover under such policies for any loss sustained
by Landlord and such other additional insured’s, its agents, and employees as a
result of the acts or omissions of Tenant. All such policies maintained by
Tenant will provide that they may not be terminated or amended except after
thirty (30) days’ prior written notice to Landlord and/or the Condominium
Association. All required insurance policies maintained by Tenant must be
written as primary policies, not contributing with and not supplemental to the
coverage that Landlord and/or the Condominium Association carries or may carry.


 


5.3 Waiver of Subrogation.
Landlord and Tenant each waive any and all rights to recover against the other,
or against the officers, directors, shareholders, partners, joint venturers,
employees, agents, customers, invitees, or business visitors of such other
party, for any loss or damage to such waiving party arising from any cause
covered by any property or other insurance required to be carried by such party
pursuant to this Article 5 or any other property insurance actually
carried by such party. Landlord and Tenant from time to time will cause their
respective insurers to issue appropriate waiver of subrogation rights
endorsements to all property insurance policies carried in connection with the
Premises or the Building in which the Premises are located, or the contents
thereof. Tenant agrees to cause all other occupants of the Premises claiming
by, under, or through Tenant to execute and deliver to Landlord such a waiver
of claims and to obtain such waiver of subrogation rights endorsements.


 


5.4 Indemnification.
Tenant shall indemnify, defend and save Landlord harmless from and against any
and all claims, actions, damages, liability and expense in connection with loss
of life, personal injury and/or damage to or destruction of property arising
from or out of any occurrence in, upon or at the Premises, or any part thereof,
or the occupancy or use by Tenant of the Premises or any part thereof, or
occasioned wholly or in part by any act or omission of Tenant, its agents,
contractors, employees, servants, lessees or concessionaires, except which
result from Landlord’s gross negligence or willful misconduct. Landlord shall
indemnify, defend and save Tenant harmless from and against any and all claims,
actions, damages, liability and expense in connection with loss of life,
personal injury and/or damage to or destruction of property arising from or out
of any occurrence in, upon or at the Premises occasioned in whole or in part by
any negligent act or omission by Landlord, its agents, contractors, employees,
servants or concessionaires. In case the indemnifying party shall be made a
party to any litigation commenced by or against the other party, then such
other party shall protect and hold the indemnified party harmless and pay all
costs and attorney’s fees incurred by the indemnified party in connection with
such litigation, and any appeals thereof. The defaulting party shall also pay
all costs, expenses and reasonable attorney’s fees that may be incurred or paid
by the other party in enforcing the covenants and agreements in this Lease.


 


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ARTICLE 6 

UTILITIES


 


6.1 Utilities. Tenant
shall be solely responsible for and shall promptly pay all charges for water,
gas, electricity, garbage, and any other utility used and consumed in the
Premises. In the event that such utilities charges, or any portion thereof,
shall be separately metered for the Premises, Tenant shall pay such meter
charges directly to the utility company supplying such service. In the event,
however, that any such charges, or any portion thereof, shall not be separately
metered for the Premises, tenant shall pay to Landlord and/or the Condominium
Association its pro rata share of such non-metered charges. If any such charges
are not paid when due, Landlord may, at its option pay the same, and any amount
so paid by Landlord shall thereupon become due to Landlord from Tenant as
Additional Rent. In no event, however, shall Landlord or the Condominium
Association be liable for an interruption or failure in the supply of any such
utilities to the Premises.


 


ARTICLE 7 

SUBORDINATION AND ATTORNMENT


 


7.1 Subordination.
Tenant hereby subordinates its rights hereunder to the lien of any ground or
underlying leases, any mortgage or mortgages, or the lien resulting from any
other method of financing or refinancing, now or hereafter in force against the
Premises and to all advances made or hereafter to be made upon the security
thereof provided that the lessor or mortgagee or other lien holder thereunder
agrees not to disturb Tenant’s possession of the Premises or rights under this
Lease so long as Tenant is not in default hereunder. This Section shall be
self-operative and binding upon Tenant and any such lessor, mortgagee or other
lien holder, and no further instrument of subordination shall be required by
any mortgagee; however, Landlord shall use reasonable efforts to facilitate the
preparation and execution of a Subordination, Non-Disturbance and Attornment
agreement in form reasonably acceptable to both Tenant and any such lessor,
mortgagee or other lien holder.


 


7.2 Attornment. In
the event any proceedings are brought for the foreclosure of, or in the event
of exercise of the power of sale under, any mortgage covering the Premises or
in the event a deed is given in lieu of foreclosure of any such mortgage,
Tenant shall attorn to the purchaser, or grantee in lieu of foreclosure, upon
any such foreclosure or sale and recognize such purchaser, or grantee in lieu
of foreclosure, as the Landlord under this Lease.


 


7.3 Financing Agreements.
Tenant shall not enter into, execute or deliver any financing agreement that
can be considered as having priority on the Premises to any mortgage or deed of
trust that Landlord may have placed upon the Premises.


 


ARTICLE 8 

ASSIGNMENT AND SUBLETTING


 


Except as herein provided,
Tenant may not assign this lease in whole or in part, nor sublet all or any
portion of the Premises, without the prior written consent of Landlord in each
instance, which shall not be unreasonably withheld or delayed and shall be
deemed granted if not given or denied in writing within thirty (30) days from
Tenant’s written request therefor. Further,


 


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notwithstanding the
foregoing, such consent shall not be required if such assignment or sublease is
from Tenant to a wholly owned subsidiary of Tenant or to a wholly owned subsidiary
of Tenant’s parent, if any. The consent by Landlord to any assignment or
subletting shall not constitute a waiver of the necessity for such consent to
any subsequent assignment or subletting. No assignment, under letting,
occupancy or collection shall be deemed acceptance of the assignee, subtenant
or occupant as Tenant, or a release of Tenant from the further performance by
Tenant of the covenants on the part of Tenant herein contained. This
prohibition against assignment or subleasing includes those by operation of
law, legal process, receivership, bankruptcy or otherwise, whether voluntary or
involuntary. Landlord, by its acceptance hereof, acknowledges that Tenant may
mortgage or collaterally assign its interest in and to this Lease and the leasehold
estate created hereunder to institutional lenders providing financing to
Tenant, to Tenant’s parent, if any, or to any subsidiary or affiliate of
Tenant. Tenant shall remain fully liable on this Lease and shall not be
released from performing any of the terms, covenants and conditions hereof or
any rents or other sums to be paid hereunder. Tenant acknowledges and agrees
that any and all right and interest of the Landlord in and to the Premises, and
all right and interest of the Landlord in this Lease, may be conveyed, assigned
or encumbered at the sole discretion of the Landlord at any time. In addition,
notwithstanding the foregoing to the contrary, Tenant shall have the right to
license or sublet all or any portion of the Premises to a physician, physician
group, professional corporation or other entity licensed to practice medicine
in the State of Florida or to such other individuals or entities providing
health-related services, without first obtaining Landlord’s prior consent.


 


ARTICLE 9 

FACILITIES


 


9.1 Control of Common
Areas by Landlord and/or the Condominium Association. All automobile
parking areas, driveways, entrances and exits thereto, and other facilities
furnished by Landlord and/or the Condominium Association at or near the
Premises, including employee parking areas, the truck way or ways, loading
docks, package pick-up stations, pedestrian sidewalks and ramps, landscaped
areas, exterior stairways, and other areas and improvements provided by
Landlord for the general use, in common, of tenants, their officers, agents,
employees and customers, shall at all times be subject to the exclusive control
and management of Landlord and/or the Condominium Association, and Landlord
and/or the Condominium Association shall have the right from time to time to
establish, modify and enforce reasonable rules and regulations with
respect to all facilities and areas mentioned in this Article. Landlord and/or
the Condominium Association shall have the right to construct, maintain and
operate lighting facilities on all said areas and improvements; from time to
time to change the area, level, location and arrangement of parking areas and
other facilities hereinabove referred to and to restrict parking by tenants,
their officers, agents and employees to employee parking areas. Neither
Landlord nor the Condominium Association shall have any duty to police the
traffic in the parking areas. Landlord shall provide not less than
                            
parking spaces within the parking area, which Landlord warrants meets all
parking requirements of any governmental authority.


 


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ARTICLE 10 

TENANT’S FIXTURES AND IMPROVEMENTS


 


10.1 Alterations by
Tenant. Tenant shall not make any alterations, renovations, improvements or
other installations (collectively “Alterations”) in, on or to any part
of the Premises (including, without limitation, any alterations of the front,
signs, structural alterations, or any cutting or drilling into any part of the
Premises or any securing of any fixture, apparatus, or equipment of any kind to
any part of the Premises) unless and until Tenant shall have caused plans and
specifications therefor to have been prepared, at Tenant’s expense, by an
architect or other duly qualified person and shall have obtained Landlord’s
approval thereof, which shall not be unreasonably withheld or delayed and shall
be deemed granted if not approved or denied in writing within thirty (30) days
of Tenant’s written request therefor. Tenant shall submit to Landlord detailed
drawings and plans of the proposed Alterations at the time Landlord’s approval
is sought. If such approval is granted, Tenant shall cause the work described
in such plans and specifications to be performed, at its expense, promptly,
efficiently, competently and in a good and workmanlike manner by duly qualified
and licensed persons or entities approved by Landlord, using first grade
materials. All such work shall comply with all applicable codes, rules,
regulations and ordinances. The Tenant shall at all times maintain fire
insurance with extended coverage in an amount adequate to cover the cost of
replacement of all alterations, decorations, additions or improvements to the
Premises by Tenant in the event of fire or extended coverage loss. Tenant shall
deliver to the Landlord certificates of such fire insurance policies, which
shall contain a clause requiring the insurer to give the Landlord ten (10) days
notice of cancellation of such policies. Notwithstanding the foregoing, Tenant
shall be entitled to make interior, non-structural and/or decorative
alterations without obtaining Landlord’s consent.


 


10.2 Mechanic’s/Construction
Liens. No work performed by Tenant pursuant to this Lease, whether in the
nature of erection, construction, alteration or repair, shall be deemed to be
for the immediate use and benefit of Landlord so that no mechanic’s or other
lien shall be allowed against the estate of Landlord by reason of any consent
given by Landlord to Tenant to improve the Premises. Tenant shall place such
contractual provisions as Landlord may reasonably request in all contracts and
subcontracts for Tenant’s improvements assuring Landlord that no mechanic’s/Construction
liens will be asserted against Landlord’s interest in the Premises or the
property of which the Premises are a part. Said contracts and subcontracts
shall provide, among other things, the following: That notwithstanding anything
in said contracts or subcontracts to the contrary, Tenant’s contractors,
subcontractors, suppliers and materialmen (hereinafter collectively referred to
as “Contractors”) will perform the work and/or furnish the required
materials on the sole credit of Tenant; that no lien for labor or materials
will be filed or claimed by the Contractors against Landlord’s interest in the
Premises or the property of which the Premises are a part; that the Contractors
will immediately discharge any such lien filed by any of the Contractor’s
suppliers, laborers, materialmen or subcontractors; and that the Contractors
will indemnify and save Landlord harmless from any and all costs and expenses,
including reasonable attorney’s fees, suffered or incurred as a result of any
such lien against Landlord’s interest that may be filed or claimed in
connection with or arising out of work undertaken by the Contractors. Tenant
shall pay promptly all persons furnishing labor or materials with respect to
any work performed by Tenant or its Contractors on or about the Premises. If
any mechanic’s or other liens shall at any time be filed against the Premises
or the property of which the Premises are a part by reason of work, labor,
services or materials performed of furnished, or alleged to have been performed
or furnished, to Tenant or to anyone holding the Premises through or under
Tenant, and regardless of whether any such lien is


 


11














 


asserted against the
interest of Landlord or Tenant, Tenant shall cause the same to be discharged of
record or bonded to the reasonable satisfaction of Landlord within thirty (30)
days of Tenant’s receipt of notice of such lien. If Tenant shall fail to cause
such lien to be so discharged or bonded after being notified of the filing
thereof, then, in addition to being an Event of Default and any other right or
remedy of Landlord, Landlord may bond or discharge the same by paying the
amount claimed to be due, and the amount so paid by Landlord, including
reasonable attorneys’ fees incurred by Landlord either in defending against
such lien or in procuring the bonding or discharge of such lien, together with
interest thereon at the Default Rate, shall be due and payable by Tenant to
Landlord as Additional Rent.


 


10.3 Tenant’s Leasehold
Improvements. All leasehold improvements (as distinguished from trade
fixtures and apparatus) installed in the Premises at any time, whether by or on
behalf of Tenant or by or on behalf of Landlord, shall not be removed from the
Premises at any time, unless such removal is consented to in advance by
Landlord; and at the expiration of this Lease (either on the Expiration Date or
upon such earlier termination as provided in this Lease), all such leasehold
improvements shall be deemed to be part of the Premises, shall not be removed
by Tenant when it vacates the Premises, and title thereto shall vest solely in
Landlord without payment of any nature to Tenant.


 


10.4 Tenant’s Trade Fixtures;
Landlord’s Lien Waiver. All trade fixtures, equipment, furniture,
inventory, and apparatus (as distinguished from leasehold improvements) owned
by Tenant and installed in the Premises shall remain the property of Tenant and
shall be removable at any time, including upon the expiration of the Term;
provided Tenant shall not at such time be in default of any terms or covenants
of this Lease, and provided further, that Tenant shall repair any damage to the
Premises caused by the removal of said trade fixtures and apparatus and shall
restore the Premises to substantially the same condition as existed prior to
the installation of said trade fixtures and apparatus and shall restore the
Premises to substantially the same condition as existed prior to the installation
of said trade fixtures and apparatus. Landlord acknowledges that Tenant may
from time to time or at any time grant security interests in and to its trade
fixtures, equipment, furniture, inventory and apparatus in order to secure
financing provided to Tenant. Landlord consents to Tenant’s granting one or
more security interests in and to Tenant’s trade fixtures, equipment,
furniture, inventory and apparatus and covenants and agrees that any security
interest in and to the Tenant’s trade fixtures, equipment, furniture, inventory
and apparatus in favor of any lender or financier thereof shall be superior to
any interest which Landlord may at any time have in and to Tenant’s trade
fixtures, equipment, furniture, inventory and apparatus and Landlord, for itself,
its successors and/or assigns, does hereby subordinate any and all liens,
encumbrances and/or security interests which it has or may have in and to
Tenant’s trade fixtures, equipment, furniture, inventory and apparatus, whether
expressly created in this Lease or any other instrument by and between Landlord
and Tenant, or by virtue of any statute or under common law. Landlord covenants
and agrees with Lender that, for so long as any lender or financier holds any
lien, encumbrance of security interest in and to Tenant’s trade fixtures,
equipment, furniture, inventory and apparatus, Landlord will not assert against
any of Tenant’s trade fixtures, equipment, furniture, inventory and apparatus
any statutory, common law, contractual, or possessory lien or security
interest, including without limitation any right of levy or destraint for rent,
all of which Landlord does hereby waive and subordinate. Landlord agrees that
any such lender or financier may enter upon the Premises at any time or from
time to time, during normal business hours, so long as Tenant is in possession
of the Premises, without charge,


 


12

















 


to inspect or remove any of
Tenant’s trade fixtures, equipment, furniture, inventory and apparatus therefrom.
Landlord covenants and agrees that Landlord will not hinder or delay any such
lender’s or financier’s actions in enforcing its liens, security interests, and
remedies with respect to Tenant’s trade fixtures, equipment, furniture,
inventory and apparatus.


 


ARTICLE 11 

MAINTENANCE AND REPAIR OF PREMISES


 


11.1 Maintenance by
Tenant. Tenant shall at all times keep in good order, condition and repair
(which shall include the providing of replacements when necessary) the entire
Premises and the interior portions of the Building (excepting only the interior
portions of the Building being leased by other parties) including, without
limitation, the exterior and all glass and show window moldings; and all
partitions, doors, interior walls, fixtures, equipment and appurtenances
thereto, including lighting, heating and plumbing fixtures serving the Premises
only and any air conditioning system and sprinkler system situated within
and/or servicing the Premises, reasonable and ordinary wear and tear excepted. Said
maintenance by Tenant shall include, without limitation, periodic painting as
is reasonably necessary. All cutting and patching of the roof area required for
any reason whatsoever for Tenant’s use and occupancy of the Premises shall be
performed by the Landlord’s roofing subcontractor. In the event that Tenant
causes such work to be performed by anyone other than the Landlord’s roofing
subcontractor, Landlord will have the right, at Tenant’s sole cost and expense
and without notice to Tenant, to cause said work and the roof area affected
thereby to be inspected and/or repaired by Landlord’s roofing subcontractor.
All repairs, replacements, or maintenance of any item or any type of the
Premises (other than the roof, building structure and any capital improvements
thereto) is the responsibility of the Tenant and to be paid for by Tenant.
Tenant shall be entitled to recover from the Condominium Association the costs
of all repairs above and beyond Tenant’s Proportionate Share made by Tenant to
the roof and structural portions of the Building (excepting those repairs made
either for the benefit of, or due to damage caused by, the Tenant).


 


11.2 Maintenance by
Landlord and/or the Condominium Association. Other than maintenance
obligations of Tenant as provided in Section 11.1, Landlord and/or the
Condominium Association shall be responsible for all other maintenance to the
Building in which the Premises are located, including all structural elements
of the Building, all common and parking areas, all common plumbing facilities,
paving and striping of the parking areas, which costs shall be recovered
through Condominium assessments. However, in no event shall Tenant be
responsible to pay the costs of any capital improvements.


 


SIGNS


 


11.3 Signs. On or
before the Commencement Date, Tenant will, at its sole cost and expense,
purchase and cause to be installed upon the exterior of the Premises a sign
which in all respects conforms to the criteria established by Landlord and/or
the Condominium Association. However, Tenant will not install said sign without
first obtaining Landlord’s and/or the Condominium Association’s written
approval thereof, which shall not be unreasonably withheld or delayed and shall
be deemed granted if written approval or rejection thereof has not been
received within thirty (30) days of Tenant’s written request therefore.
Thereafter, Tenant will not place or suffer to be placed or maintain on any
portion of the exterior (including windows) of


 


13

















 


the Premises any sign,
awning, canopy or advertising matter or other thing of any kind, without first
obtaining Landlord’s and/or the Condominium Association’s written approval and
consent. Without limitation as to the foregoing, Landlord specifically reserves
the right at any time during the term of this Lease to require Tenant to remove
from the Premises any sign(s) situated thereon which have not been
approved pursuant to the foregoing provisions and to replace same with a sign
or signs which in all respects conform to a sign standard designated by
Landlord, all of which will be performed at Tenant’s sole cost and expense.
Tenant agrees to maintain any such sign, awning, canopy, decoration, lettering,
advertising matter or other thing as may be approved in good condition and
repair at all times, reasonable and ordinary wear and tear excepted, and to
repaint or replace such signs from time to time when reasonably necessary and
to illuminate such signs in accordance with standards established by Landlord
and/or the Condominium Association from time to time, including hours of
illumination. All signs in addition must be conform to code and local
ordinances rules, laws and regulations.


 


ARTICLE 12

WASTE AND GOVERNMENTAL REGULATIONS


 


12.1 Nuisance or Waste.
Tenant shall not commit or suffer to be committed any waste or nuisance upon
the Premises or other act or thing which may disturb the quiet enjoyment of any
other tenant in the Building in which the Premises may be located.


 


12.2 Compliance with Laws.
Tenant, at its sole cost, will promptly comply with all applicable laws,
guidelines, rules, regulations and requirements, whether of federal, state, or
local origin, applicable to the Premises, including, but not limited to, the
Americans with Disabilities Act, 42 U.S.C. § 12101 et seq., and those for the
correction, prevention and abatement of nuisance, unsafe conditions, or other
grievances arising from or pertaining to the Tenant’s use or occupancy of the
Premise’s. Tenant at its sole cost and expense shall be solely responsible for
taking any and all measures which are required to comply with the requirements
of the ADA within the Premises as a result of Tenant’s use, other than as set
forth below. Any Alterations to the Premises made by or on behalf of Tenant for
the purpose of complying with the ADA or which otherwise require compliance
with the ADA shall be done in accordance with this Lease; provided, that
Landlord’s and/or the Condominium Association’s consent to such Alterations
shall not constitute either Landlord’s and/or the Condominium Association’s
assumption, in whole or in part, of Tenant’s responsibility for compliance with
the ADA with respect to the Tenant’s use of the Premises, or representation or
confirmation by Landlord and/or the Condominium Association that such
Alterations comply with the provisions of the ADA. Notwithstanding the
foregoing, Landlord and/or the Condominium Association shall be solely
responsible for all costs associated with bringing the Building within which
the Premises are located into compliance with the ADA as a result of any
structural condition of the Building.


 


12.3 Governmental
Regulations. Tenant shall, at Tenant’s sole costs and expense, comply in
all material respects with all regulations of all county, municipal, state,
federal and other applicable governmental authorities, not in force or which
may hereafter be in force, pertaining to Tenant or its use of the Premises, and
shall faithfully observe in the use of the Premises all municipal and county
ordinances and state and federal statutes now in force or which may hereinafter
be in force. Tenant shall indemnify, defend and save Landlord and/or the


 


14

















 


Condominium Association
harmless from penalties, fines, costs, expenses suits, claims, or damages
resulting from Tenant’s failure to perform its obligations in this Section.


 


12.4 Rules and
Regulations. Landlord and/or the Condominium Association reserves the right
from time to time to make reasonable rules and regulations, governing
loading of supplies, trash collection, pest control, parking, noise, electrical
overloads and similar issues of general concern to all tenants in the event
that the need therefore should ever arise. Notice of such rules and
regulations and amendments and supplements thereto, if any, shall be given to
the Tenant.


 


ARTICLE 13 

HAZARDOUS MATERIALS


 


13.1 Hazardous Materials.
Tenant shall not use or allow the Premises to be used for the Release, storage,
use, treatment, disposal or other handling of any Hazardous Materials, without
the prior consent of Landlord and/or the Condominium Association, except that
Tenant may without Landlord’s and/or the Condominium Association’s prior
written consent store, use, treat and handle such Hazardous Materials as are
ordinarily and commonly used in its operation of medical offices and radiation
treatment facilities provided that it does so, and disposes of same, in
accordance and compliance with applicable environmental laws, rules and
regulations (“Tenant’s Hazardous Materials Activity”). The term “Release”
shall have the same meaning as is ascribed to it in the Comprehensive
Environmental Response, Compensation and Liability Act, 42 U.S.C. § 9601 et
seq., as amended, (“CERCLA”). The term “Hazardous Materials” means (i) any
substance defined as a “hazardous substance” under CERCLA, (ii) petroleum,
petroleum products, natural gas, natural gas liquids, liquefied natural gas,
and synthetic gas, and (iii) any other substance or material deemed to be
hazardous, dangerous, toxic, or a pollutant under any federal, state, or local
law, code, ordinance or regulation (“Hazardous Materials Laws”).


 


13.1.1
Tenant shall: (a) except with respect to Tenant’s Hazardous Materials
Activity, give prior notice to Landlord and/or the Condominium Association of
any other activity or operation to be conducted by Tenant at the Premises which
involves any other Release, use, handling, generation, treatment, storage, or
disposal of any Hazardous Materials, (b) comply in all material respects with
all federal, state, and local laws, codes, ordinances, regulations, permits and
licensing conditions governing the Release, discharge, emission, or disposal of
any Hazardous Materials and prescribing methods for or other limitations on
storing, handling, or otherwise managing Hazardous Materials, (c) at its
own expense, promptly contain and remediate any Release of Hazardous Materials
arising from or related to Tenant’s Hazardous Materials Activity in the
Premises and remediate and pay for any resultant damage to properly, persons,
and/or the environment, (d) give prompt notice to Landlord and/or the
Condominium Association, and all appropriate regulatory, authorities, of any
Release of any Hazardous Materials in the Premises arising from or related to,
Tenant’s Hazardous Materials Activity, which Release is not made pursuant to
and in conformance with the terms of any permit or license duly issued by
appropriate governmental authorities, any such notice to include a description
of “measures taken or proposed to be taken” by Tenant to contain and remediate
the Release and any resultant damage to property, persons, or the environment,(e) at
Landlord’s and/or the Condominium Association’s written request and upon


 


15

















 


reasonable cause, which
shall not be more frequent than once per calendar year, retain an independent
engineer or other qualified consultant or, expert acceptable to Landlord and/or
the Condominium Association, to conduct, at Tenant’s expense, an environmental
audit of the Premises and immediate surrounding areas, and the scope of work to
be performed by such engineer, consultant, or expert shall be reasonably
approved in advance by Landlord and/or the Condominium Association, and all of
the engineer’s, consultant’s or expert’s work product shall be made available
to Landlord and/or the Condominium Association, (f) at Landlord’s and/or
the Condominium Association’s written request from time to time, executed
affidavits, representations and the like concerning Tenant’s best knowledge,
and belief regarding the presence of Hazardous Materials in the Premises, (g) reimburse
to Landlord and/or the Condominium Association, upon demand, the actual
reasonable cost of any testing for the purpose of ascertaining if there has
been any Release of Hazardous Materials in the Premises as a result of Tenant’s
Hazardous Materials Activity, if such testing is required by any governmental
agency or Landlord’s Mortgagee, (h) upon expiration or termination of this
Lease, surrender the Premises to Landlord free from the presence and
contamination of any Hazardous Materials. Tenant shall indemnify, protect,
defend (by counsel reasonably acceptable to Landlord), and hold Landlord and/or
the Condominium Association and free and harmless from and against any and all
claims, liabilities, penalties, forfeitures, losses and expenses (including
actual reasonable attorneys’ fees) or death of or injury to any person or
damage to any property whatsoever arising from or caused in whole or in part,
directly or indirectly, by the presence in or about the Premises of any of
Tenant’s Hazardous Materials Activity or by Tenant’s failure to comply with any
Hazardous Materials Law regarding Tenant’s Hazardous Materials Activity or in
connection with any removal, remediation, clean up, restoration and materials
required hereunder to return the Premises and any other property of whatever
nature to their condition existing prior to Tenant’s Hazardous Materials
Activity.


 


13.2 Disclosure Warning
and Notice Obligations. Tenant shall comply with all laws, ordinances and
regulations in the State of Florida regarding the disclosure of the presence or
danger of Tenant’s Hazardous Materials. Tenant acknowledges and agrees that all
reporting and warning obligations required under the Hazardous Materials Laws
with respect to Tenant’s Hazardous Materials Activity are the sole
responsibility of Tenant, whether or not such Hazardous Materials Laws permit
or require Landlord to provide such reporting or warnings, and Tenant shall be
solely responsible for complying with such Hazardous Materials Laws regarding
the disclosure of, the presence or danger of Tenant’s Hazardous Materials
Activity. Tenant shall immediately notify Landlord and/or the Condominium
Association, in writing, of any complaints, notices, warnings, reports or
asserted violations of which Tenant becomes aware relating to Hazardous
Materials on or about the Premises. Tenant shall also immediately notify
Landlord and/or the Condominium Association if Tenant knows or has reason to
believe Tenant’s Hazardous Materials have or will be released in or about the
Premises.


 


13.3 Environmental Tests
and Audits. Except to the extent required by any governmental authority
having jurisdiction over the Premises or Tenant’s use or occupancy thereof,
including without limitation Tenant’s Hazardous Materials Activity, Tenant
shall not perform or cause to be performed, any Hazardous Materials surveys,
studies, reports or inspection, relating to the Premises without obtaining
Landlord’s advance written consent, which


 


16

















 


consent may be withheld in
Landlord’s sole discretion. At any time prior to the expiration of the Term,
Landlord and/or the Condominium Association shall have the right to enter upon
the Premises in order to conduct appropriate tests (at Tenant’s expense) and to
deliver to Tenant the results of such tests to demonstrate that levels of any
Hazardous Materials in excess of permissible levels has occurred as a result of
Tenant’s Hazardous Materials Activity.


 


13.4 Survival/Tenant’s
Obligations. The respective rights and obligations of Landlord and Tenant
under this Article shall survive the expiration or termination of this
Lease.


 


ARTICLE 14 

DESTRUCTION OF PREMISES


 


14.1 Damage and
Destruction. If all or any part of the Premises shall be damaged or
destroyed by fire or other casualty, this Lease shall continue in full force
and effect, unless terminated as hereinafter provided, and Landlord and/or the
Condominium Association shall repair, restore or rebuild the Premises to the
condition existing at the time of the occurrence of the loss; provided,
however, Landlord and/or the Condominium Association shall not be obligated to
commence such repair, restoration or rebuilding until insurance proceeds are
received by Landlord and/or the Condominium Association; and, further, the
obligation to repair hereunder shall be limited to the proceeds actually
received by Landlord and/or the Condominium Association under any insurance
policy or policies, if any, less those amounts (i) which have been
required to be applied towards the reduction of any indebtedness secured by a
mortgage covering the Premises or any portion thereof, and (ii) which are
used to reimburse Landlord and/or the Condominium Association for all costs and
expenses, including but not limited to attorneys’ fees, incurred by Landlord
and/or the Condominium Association to recover any such insurance proceeds.


 


14.1.1
Tenant agrees to notify Landlord and/or the Condominium Association in writing
not less than thirty (30) days prior, to the date Tenant opens for business in
the Premises of the actual cost of all permanent leasehold improvements and
betterments installed or to be installed by Tenant in the Premises (whether
same have been paid for entirely or partially by Tenant), but exclusive of
Tenant’s personal property, movable trade fixtures, equipment, furniture,
apparatus and inventory. Similar notifications shall be given to Landlord
and/or the Condominium Association not less than thirty (30) days prior to the
commencement of any proposed alterations, additions or improvements to the
Premises. If Tenant fails to comply, with the foregoing provisions, any loss or
damage Landlord and/or the Condominium Association shall sustain by reason
thereof shall be borne by Tenant and shall be paid immediately by Tenant upon
receipt of a bill therefore and evidence of such loss, and in addition to any
other rights or remedies reserved by Landlord under this Lease or the Condominium
Association under the Declaration, Landlord’s obligations under this Article to
repair, replace and/or rebuild the Premises shall be deemed inapplicable, and
in lieu thereof, Landlord may, at its election, either restore or require
Tenant to restore the Premises to the condition which existed prior to such
loss, and in either case Tenant shall pay the cost of such restoration.


 


14.1.2
Tenant covenants and agrees to repair or replace Tenant’s fixtures, furniture,
furnishings, floor coverings, equipment and stock in trade and reopen for


 


17

















 


business in the Premises
within thirty (30) days after notice from Landlord and/or the Condominium
Association that the Premises are ready for re-occupancy.


 


14.1.3
No damage or destruction to the Premises shall allow Tenant to surrender
possession of the Premises nor affect Tenant’s liability for the payment of
rents or charges or any other covenant herein contained, except as may be
specifically provided in this Lease.


 


14.1.4
Notwithstanding anything to the contrary contained in this Section or
elsewhere in this Lease, either Tenant or Landlord, at their respective option,
may terminate this Lease by giving written notice thereof to the other as
follows:


 


(a) Within
ninety (90) days from the date of casualty if the Premises or the Building in
which the Premises are located shall be damaged or destroyed as a result of an
occurrence which is not covered by Landlord’s and/or the Condominium
Association’s insurance;


 


(b) Within
ninety (90) days from the date of the casualty if the Premises shall be damaged
or destroyed during the last two (2) years of the Term or any renewals
thereof;


 


(c) Within
one hundred eighty (180) days from the date of the casualty if the Premises are
damaged or destroyed to the extent of twenty-five percent (25%) or more of the
replacement cost thereof, in which event Landlord will have the option of
terminating this Lease or any renewal thereof by serving written notice upon
Tenant and any prepaid Rent or Additional Rent will be prorated as of the date
of destruction and the unearned portion of such Rent will be refunded to Tenant
without interest; or


 


(d) Within
thirty (30) days of receipt of notice from Landlord and/or the Condominium
Association that reconstruction of the Premises shall take in excess of four
hundred ten (410) days from the date of the casualty, in which event Tenant
will have the option of terminating this Lease or any renewal thereof by
serving written notice upon Landlord and any prepaid Rent or Additional Rent
will be prorated as of the date of destruction and the unearned portion of such
Rent will be refunded to Tenant without interest.


 


14.1.5
If the Premises shall be damaged or destroyed and in the event that neither party
has elected to terminate this Lease as aforesaid, Landlord and Tenant shall
commence their respective obligations under this Article as soon as is
reasonably possible and prosecute the same to completion with all due
diligence.


 


14.1.6
Except where the damage or destruction results from the wrongful or grossly
negligent act or omission of Tenant, the Base Rent shall be abated
proportionately with the degree to which Tenant’s use of the Premises is
impaired during the period of any damage, repair or restoration provided for in
this Article; provided further, that in the event Landlord elects to repair any
damages as herein contemplated, any abatement of Base Rent shall end thirty
(30) days after written notice by Landlord to Tenant that the


 


18

















 


Premises have been repaired.
Tenant shall continue the operation of its business on the Premises during any
such period to the extent reasonably practicable from the standpoint of prudent
business management, and any obligation of Tenant under the Lease to apply
charges reserved as Additional Rent shall remain in full force and nothing in
the Section shall be construed to abate Additional Rent. Except for the
abatement of Base Rent hereinabove provided, Tenant shall not be entitled to
any compensation or damage for loss in the use of the whole or any part of the
Premises and/or any inconvenience or annoyance occasioned by any damage,
destruction, repair or restoration.


 


14.2 Repairs After
Casualty. Unless this Lease is terminated by Landlord or Tenant within the
time period provided hereinabove, Landlord and/or the Condominium Association
shall repair, restore and re-fixture all parts of the Premises not insured
under any insurance policies insuring Landlord and/or the Condominium
Association in a manner and to a condition equal to that existing prior to its
destruction or damage, including, without limitation, all exterior signs, trade
fixtures, equipment, display cases, furniture, furnishings and other
installations of personality of Tenant. The proceeds of all insurance carried
by Tenant on its property and improvements shall be held in trust by Tenant for
the purpose of said repair and replacement. Tenant shall give to Landlord
and/or the Condominium Association prompt written notice of, any damage to or
destruction of any portion of the Premises resulting from fire or other
casualty.


 


ARTICLE 15 

EMINENT DOMAIN


 


15.1 Total Condemnation
of Premises. If the whole of the Premises shall be acquired or condemned by
eminent domain for any public or quasi-public use or purpose, then the Term of
this Lease shall cease and terminate as of the date of title vesting in such
proceeding and all rentals shall be paid up to that date.


 


15.2 Partial Condemnation of
Premises.


 


15.2.1
If twenty (20%) percent or more of the Premises shall be acquired or condemned
by eminent domain for any public or quasi-public use or purpose, then the
Tenant shall have the option to cancel and terminate this Lease upon notice
thereof given to the Landlord within ninety (90) days after the vesting of
title in such proceeding.


 


15.2.2
In the event that less than twenty (20%) percent of the Premises shall be
acquired or condemned by eminent domain for any public or quasi-public use or
purpose, or in the event twenty (20%) percent or more of the Premises shall
have been so taken, and Tenant shall not elect to terminate this Lease as set
forth above, then the Landlord and/or the Condominium Association shall
promptly restore the Premises to a condition reasonably comparable under the
circumstances to its condition at the time of such condemnation, less the
portion lost in the taking; and this Lease shall thereafter continue in full
force and effect. In such event of a partial taking, described hereinabove,
from the effective date that physical possession is taken by the condemning
authority through the end of the term of this Lease, the annual Base Rent
payable by Tenant to Landlord under this Lease shall be reduced by a fraction,
the numerator of which shall be the gross area of the Premises so taken by the
condemning authority and the denominator of which shall


 


19

















 


be the gross area of the
Premises on the date immediately prior to the effective date of such taking.


 


15.3 Total Condemnation
of Parking. If the whole of the common parking areas for the Premises shall
be acquired or condemned by eminent domain for any public or quasi-public use
or purpose, then the term of this Lease shall cease and terminate as of the date
of title vesting in such proceeding.


 


15.4 Partial Condemnation
of Parking Area. If a portion of the parking areas for the Premises shall
be acquired or condemned by eminent domain for any public or quasi-public use
or purpose, and as a result of such taking the Tenant is unable to obtain
confirmation or a variance from the applicable governmental entities in order
to maintain compliance for Tenant’s use of the Premises after diligent efforts,
then the Tenant shall have the option to cancel and terminate this Lease upon
notice thereof given to the Landlord within ninety (90) days after the vesting
of title in such proceeding.


 


15.4.1
If a portion of the parking areas for the Premises shall be acquired or
condemned by eminent domain for any public or quasi-public use or purpose, but
Tenant shall not be entitled or not elect to cancel and terminate this Lease,
then the Landlord and/or the Condominium Association shall restore the parking
areas to a condition reasonably comparable under the circumstances to its
condition at the time of such condemnation, less the portion lost in the
taking. In such event, this Lease shall be and remain in full force and effect
and no reduction of Base Rent or any Additional Rent payable by Tenant under
this Lease shall be allowed in such circumstances, but Tenant shall continue to
pay the full Base Rent or any Additional Rent payable under this Lease for the
balance of the term hereof.


 


ARTICLE 16 

DEFAULTS


 


16.1 Events of Default by
Tenant. If


 


(1) Tenant
abandons or surrenders all or any part of the Premises prior to the expiration
of the Term of the Lease;


 


(2) Tenant
fails to pay Rent or Additional Rent within ten (10) days after written
notice from Landlord of delinquency;


 


(3) Tenant
fails to fulfill any of the terms or conditions of this Lease or any other
lease heretofore made by Tenant for space in the Premises and the same is not
cured within thirty (30) days after written notice thereof from Landlord,
unless the same cannot be cured within said thirty (30) day period, in which
case Tenant shall have such additional time as is reasonably necessary to cure
such default, not to exceed ninety (90) days in any and all events, provided
that Tenant commences such cure within said thirty (30) day period and
thereafter diligently prosecutes the same to completion;


 


(4) the
appointment of a trustee or a receiver to take possession of all or
substantially all of Tenant’s assets occurs, or if the attachment, execution or
other judicial


 


20

















 


seizure of all or
substantially all of Tenant’s assets located at the Premises, or of Tenant’s
interest in this Lease, occurs, and in the case of an involuntary appointment
only, the same is not dismissed within ninety (90) days from said appointment;


 


(5) Tenant
or any of its successors or assigns or any guarantor of this Lease (“Guarantor”)
should file any voluntary petition in bankruptcy, reorganization or
arrangement, or an assignment for the benefit of creditors or for similar
relief under any present or future statute, law or regulation relating to
relief of debtors;


 


(6) Tenant
or any of its successors or assigns or any Guarantor should be adjudicated
bankrupt or have an involuntary petition in bankruptcy, reorganization or
arrangement filed against it and the same not be dismissed within ninety (90)
days of the date of the filing thereof; or


 


(7) Tenant
shall permit, allow or suffer to exist any lien, judgment, writ, assessment,
charge, attachment or execution upon the Premises or any portion thereof,
and/or the fixtures, improvements and furnishings located thereon, except as
otherwise permitted herein;


 


then, Tenant shall be in
default hereunder.


 


16.2 Landlord’s Default.
If Tenant asserts that Landlord has failed to meet any of its obligations under
this Lease, Tenant shall provide written notice (“Notice of Default”) to
Landlord specifying the alleged failure to perform, and Tenant shall send by
certified mail, return receipt requested, a copy of such Notice of Default to
any and all mortgage holders, provided that Tenant has been previously advised
of the addresses of such mortgage holder(s). Landlord shall have a thirty (30)
day period after receipt of the Notice of Default in which to commence curing
any non-performance by Landlord, and Landlord shall have as much time
thereafter to complete such cure as is necessary so long as Landlord’s cure
efforts are diligent and continuous. However, if Landlord has not begun the
cure within thirty (30) days of receipt of the Notice of Default, or Landlord
does not thereafter diligently and continuously attempt to cure, then Landlord
shall be in default under this Lease. If Landlord is in default under this
Lease, then the mortgage holder(s) shall have an additional thirty (30)
days, after receipt of a second written notice from Tenant, within which to
cure such default or, if such default cannot be cured within that time, then
such additional time as may be necessary so long as their efforts are diligent
and continuous.


 


ARTICLE 17 

REMEDIES FOR DEFAULT


 


17.1 Landlord’s Options.
If Tenant is in default of this Lease, Landlord may, at its option, in addition
to such other remedies as may be available under the law of the State of
Florida:


 


(a) Terminate
this Lease and Tenant’s right of possession; or


 


(b) Terminate
Tenant’s right to possession but not the Lease and/or proceed in accordance
with any and all provisions of Section 18.2 below.


 


21














 


17.2 Landlord’s Remedies.
Landlord may, without further notice, reenter the Premises either by force or
otherwise and dispossess Tenant by summary proceedings or otherwise (as well as
the legal representatives of Tenant and/or other occupants) of the Premises,
and remove their effects and hold the Premises as if this Lease had not been
made, and Tenant hereby waives the service of notice of intention to re-enter
or to institute legal proceedings to that end.


 


17.2.1
All Rent for the balance of the Term will, at the election of Landlord, be
accelerated and the present worth of same for the balance of the Term, net of
amounts actually collected by Landlord, shall become immediately due thereupon
and be paid, together with all expenses of every nature which Landlord may
incur such as (by way of illustration and not limitation) those for attorneys’
fees, brokerage, advertising, and refurbishing the Premises in good order or
preparing them for re-rental. For purposes of this provision, “present worth”
shall be computed by discounting such amount to present worth at a discount
rate equal to one percentage point above the discount rate then in effect at
the Federal Reserve Bank nearest to the location of the Premises.


 


17.2.2
Landlord shall use commercially reasonable efforts to re-let the Premises or
any part thereof, either in the name of Landlord or otherwise, for a term or
terms which may at Landlord’s option be less than or exceed the period which
would otherwise have constituted the balance of the Term, and may grant
concessions or free rent or charge a higher rental than that reserved in this
Lease; and/or at Landlord’s option, Tenant or its legal representatives will
also pay to Landlord as liquidated damages any deficiency between the Rent and
all Additional Rent hereby reserved and/or agreed to be paid and the net
amount, if any, of the rents collected on account of the lease or leases of the
Premises for each month of the period which would otherwise have constituted
the balance of the Term.


 


17.2.3
If Landlord exercises the remedy above, and provided that Tenant has paid
Landlord the accelerated Rent as required by this Section, Landlord shall remit
to Tenant on a monthly basis until the Expiration Date any amounts actually
collected by Landlord as a result of are letting remaining after subtracting
therefrom all reasonable costs paid by Landlord to secure a replacement tenant
including reasonable marketing/leasing costs, fees and commissions, and costs
of preparing improvements and refurbishment to the Premises for the replacement
tenant. In no event shall the total amount paid to Tenant pursuant to the
preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If
this Lease is terminated, Landlord may re-let the Premises or any part thereof,
alone or together with other premises, for such term or terms (which may be
greater or less than the period which otherwise would have constituted the
balance of the Term) and on such terms and conditions (which may include
concessions or free rent and alterations of the Premises) as Landlord, in its
sole discretion, may determine, but Landlord shall not be liable for nor shall
Tenant’s obligations hereunder be diminished by reason of, any failure by
Landlord to re-let the Premises or any failure by Landlord to collect any rent
due upon such re-letting.


 


17.3 Waiver of Jury Trial.
To the extent permitted by law, Tenant hereby waives: (a) jury trial in
any action or proceeding regarding a monetary default by Tenant and/or Landlord’s
right to possession of the Premises, and (b) in any action or proceeding
by Landlord for eviction


 


22

















 


where Landlord has also
filed a separate action for damages, Tenant waives the right to interpose any
counterclaim in such eviction action. Moreover, Tenant agrees that it shall not
interpose or maintain any counterclaim in such damages action unless it pays
and continues to pay all Rent, as and when due, into the registry of the court
in which the damages action is filed.


 


17.4 Waiver of Rights of
Redemption. Tenant hereby expressly waives any and all rights of redemption
granted by or under any present or future laws in the event of Tenant being
evicted or dispossessed for any cause, or in the event of Landlord obtaining
possession of the Premises, by reason of the violation by Tenant of any of the
covenants or conditions of this Lease or otherwise.


 


17.5 Tenant’s Remedies.
In the event Landlord is in material default under the terms of Section 17.2
of this Lease and such default is of a nature that it prevents Tenant from
conducting its Permitted Use, in addition to any other rights granted
hereunder, the Tenant shall have the right, after providing Landlord the Notice
of Default and after any applicable cure periods, to terminate this Lease by
delivering written notice of termination to Landlord which shall become
effective on the date such termination notice is received by Landlord.


 


ARTICLE 18 

BANKRUPTCY PROVISIONS


 


18.1 Event of Bankruptcy.
If this Lease is assigned to any person or entity pursuant to the provisions of
the United States Bankruptcy Code, 11 U.S.C. Section 101 et seq. (the “Bankruptcy
Code”), any and all monies or other consideration payable or otherwise to
be delivered in connection with such assignment shall be paid or delivered to
Landlord, shall be and remain the exclusive property of Landlord, and shall not
constitute the property of Tenant or of the estate of Tenant within the meaning
of the Bankruptcy Code. Any and all monies or other considerations constituting
Landlord’s property under this Section not paid or delivered to Landlord
shall be held in trust for the benefit of Landlord and shall be promptly paid
or delivered to Landlord. Any person or entity to which this Lease is assigned
pursuant to the provisions of the Bankruptcy Code shall be deemed without
further act or deed to have assumed all of the obligations arising under this
Lease on and after the date of such assignment.


 


18.2 Additional Remedies.
In addition to any rights or remedies hereinbefore or hereinafter conferred
upon Landlord under the terms of this Lease, the following remedies and
provisions shall specifically apply in the event Tenant is in default of this
Lease:


 


18.2.1
In all events, any receiver or trustee in bankruptcy shall either expressly
assume or reject this Lease within sixty (60) days following the entry of an “Order
for Relief or within such earlier time as may be provided by applicable law.


 


18.2.2
In the event of an assumption of this Lease by a debtor or by a trustee, such
debtor or trustee shall within fifteen (15) days after such assumption (i) cure
any default or provide adequate assurance that defaults will be promptly cured;
(ii) compensate Landlord for actual pecuniary loss or provide adequate
assurance that compensation will be made for actual monetary loss, including,
but not limited to, all


 


23

















 


attorneys’ fees and costs
incurred by Landlord resulting from any such proceedings; and (iii) provide
adequate assurance of future performance.


 


18.2.3
Where a default exists under this Lease, the trustee or debtor assuming this
Lease may not require Landlord to provide services or supplies incidental to
this Lease before its assumption by such trustee or debtor, unless Landlord is
compensated under the terms of this Lease for such services and supplies
provided before the assumption of such Lease.


 


18.2.4
The debtor or trustee may only assign this Lease if (i) it is assumed and
the assignee agrees to be bound by this Lease, (ii) adequate assurance of
future performance by the assignee is provided, whether or not there has been a
default under this Lease, and (iii) the debtor or trustee has received
Landlord’s prior written consent pursuant to the provisions of this Lease. Any
consideration paid by any assignee in excess of the rental reserved in this
Lease shall be the sole property of, and paid to, Landlord.


 


18.2.5
Landlord shall be entitled to the fair market value for the Premises and the
services provided by Landlord (but in no event less than the rental reserved in
this Lease) subsequent to the commencement of a bankruptcy event.


 


18.2.6
Any security deposit given by Tenant to Landlord to secure the future
performance by Tenant of all or any of the terms and conditions of this Lease
shall be automatically transferred to Landlord upon the entry of an “Order of
Relief.”


 


18.2.7
The parties agree that Landlord is entitled to adequate assurance of future
performance of the terms and provisions of this Lease in the event of an assignment
under the provisions of the Bankruptcy Code. For purposes of any such
assumption or assignment of this Lease, the parties agree that the term “adequate
assurance” shall include, without limitation, at least the following: (i) any
proposed assignee must have, as demonstrated to Landlord’s satisfaction, a net
worth (as defined in accordance with generally accepted accounting principles
consistently applied) in an amount sufficient to assure that the proposed
assignee will have the resources to meet the financial responsibilities under
this Lease, including the payment of all Rent; the financial condition and
resources of Tenant are material inducements to Landlord entering into this
Lease; (ii) any proposed assignee must have engaged in the Use described
in Section 1.2 for at least five (5) years prior to any such proposed
assignment, the parties hereby acknowledging that in entering into this Lease,
Landlord considered extensively Tenant’s permitted use and determined that such
permitted business would add substantially to the tenant balance in the
Premises, and were it not for Tenant’s agreement to operate only Tenant’s
permitted business on the Premises, Landlord would not have entered into this
Lease, and that Landlord’s operation of the Premises will be materially
impaired if a trustee in bankruptcy or any assignee of this Lease operates any
business other than Tenant’s permitted business; (iii) any assumption of
this Lease by a proposed assignee shall not adversely affect Landlord’s
relationship with any of the remaining tenants in the Building in which the
Premises are located, taking into consideration any and all other “use” clauses
and/or “exclusivity” clauses which may then exist under their leases with


 


24

















 


Landlord; and (iv) any
proposed assignee must not be engaged in any business or activity which it will
conduct on the Premises and which will subject the Premises to contamination by
any Hazardous Materials.


 


ARTICLE 19 

LIMITATIONS OF LANDLORD’S LIABILITY


 


The term “Landlord” as used
in this Lease, so far as covenants or obligations on the part of the Landlord
are concerned shall be limited to mean and include only a ground lessee if the
named Landlord herein is holding the premises under a ground lease for so long
as the named Landlord is the holder of such ground lease interest or the owner
or owners of the fee simple of the Premises; and in the event of transfer or
transfers of either the ground leasehold interest to any other person or the transfer
of title to the fee premises to any person, the Landlord herein named (and in
the case of subsequent transfers or conveyances the then grantor or assignor),
shall be automatically freed and relieved from and after the date of such
transfer or conveyance or assignment of all liability as respects the
performance of any covenant or obligation on the part of the Landlord contained
in this Lease thereafter to be performed, it being the intention of the parties
that the covenants and obligations to be observed and performed by the Landlord
shall be binding upon the Landlord only during and in respect of its period of
ownership of either a leasehold interest, or a fee interest as the case may be.
Anything in this Lease to the contrary notwithstanding, Tenant agrees that
Tenant shall, subject to prior rights of any mortgagee of the Premises, look
solely to the estate and property of Landlord in the Premises and any available
rents and proceeds therefrom for the collection of any judgment (or other
judicial process) requiring the payment of money by Landlord in the event of
any default or breach by Landlord with respect to any of the terms, covenants
and conditions of this Lease to be observed and/or performed by Landlord, and
no other assets of Landlord or any principal of Landlord shall be subject to
levy, execution or other procedures for the satisfaction of Tenant’s remedies.


 


ARTICLE 20 

ACCESS BY LANDLORD AND/OR THE CONDOMINIUM ASSOCIATION


 


Landlord, the Condominium
Association or Landlord’s agents shall have the right to enter the Premises at
all reasonable times and, except in the case of emergency, on not less than
forty-eight (48) hours prior notice to Tenant, to examine the same and to show
them to prospective purchasers of the building, and to make such repairs,
alterations, improvements or additions as Landlord and/or the Condominium
Association may deem necessary or desirable, and Landlord and/or the
Condominium Association shall be allowed to take all material into and upon
said Premises that may be required therefore, without the same constituting an
eviction of Tenant in whole or in part and the Rent reserved shall in no way
abate while said repairs, alterations, improvements, or additions are being
made, by reason of loss or interruption of business of Tenant, or otherwise.
During the six (6) month period prior to the expiration of the term of
this Lease or any renewal term, unless Tenant shall have exercised its then
right to renew the term of this Lease, Landlord may exhibit the Premises to
prospective tenants or purchasers, and place upon the premises the usual
notices “To Let” or “For Sale” which notices Tenant shall permit to remain
thereon without molestation. Nothing herein contained, however, shall be deemed
or construed to impose upon Landlord and/or the Condominium Association any
obligation, responsibility or liability whatsoever, for the care, maintenance,
or repair of the


 


25

















 


Premises or any part
thereof, except as otherwise herein specifically provided. Landlord and/or the
Condominium Association shall give Tenant reasonable notice during business
hours prior to any entry. Landlord and the Condominium Association acknowledge
that Tenant is a health care provider subject to the Health Insurance
Portability and Accountability Act (HIPAA) of 1996 and in accordance therewith,
Tenant is required to maintain the privacy of its patients. Landlord and the
Condominium Association agrees to use commercially reasonable efforts to avoid
contact with such confidential patient records or other information when access
to the Premises by Landlord and/or the Condominium Association is permitted
hereunder, and Landlord and/or the Condominium Association shall be accompanied
by an agent or employee of Tenant when entering the Premises in accordance with
the terms of this Lease.


 


ARTICLE 21 

QUIET ENJOYMENT


 


21.1 Landlord’s Covenant.
So long as this Lease is in full force and effect, and subject to the rights of
Landlord hereunder, including without limitation those set forth in Article 18
above, Tenant shall peaceably and quietly hold and enjoy the Premises for the
term hereby demised without hindrance or interruption by Landlord or any other
person or persons lawfully or equitably claiming by, through or under the
Landlord, subject, nevertheless, to the terms and conditions of this Lease.


 


ARTICLE 22 

MISCELLANEOUS


 


22.1 Accord and
Satisfaction. No payment by Tenant or receipt by Landlord of a lesser
amount than the rent herein stipulated to be paid shall be deemed to be other
than on account of the earliest stipulated rent, nor shall any endorsement or
statement on any check or any letter accompanying any check or payment as rent
be deemed an accord and satisfaction, and Landlord may accept such check or
payment without prejudice to Landlord’s right to recover the balance of such
rent or pursue any other remedy provided herein or by law.


 


22.2 Entire Agreement.
This Lease constitutes all covenants, promises, agreements, conditions and
understandings between Landlord and Tenant concerning the Premises and the
Building and there are no covenants, promises, conditions or understandings,
either oral or written, between them other than are herein set forth. Neither
Landlord nor Landlord’s agents have made nor shall be bound to any
representations with respect to the Premises or the Building except as herein
expressly set forth, and all representations, either oral or written, shall be
deemed to be merged into this Lease Agreement. Except as herein otherwise
provided, no subsequent alteration change or addition to this lease shall be
binding upon Landlord or Tenant unless reduced to writing and signed by them.


 


22.3 Notices.


 


22.3.1
Any notice by Tenant to Landlord must be served by certified mail return
requested, addressed to Landlord at the address first hereinabove given or at
such other address as Landlord may designate by written notice. Tenant shall
also provide copies of


 


26

















 


any notice given to Landlord
to such mortgagees, agents or attorneys of Landlord as Landlord may direct.


 


22.3.2
After commencement of the term hereof any notice by Landlord to Tenant shall be
served by certified mail, return receipt requested addressed to Tenant at the
Premises or at such other address as Tenant shall designate by written notice,
or by delivery by Landlord to the Premises or to such other address.


 


	
   

  	
  Landlord:

  	
  Tenant:

  
	
   

  	
  Theriac Enterprises of
  Bradenton, LLC

  	
  21st Century Oncology, Inc.

  
	
   

  	
  Attn: Cathy Newkirk

  	
  Attn: David Watson

  
	
   

  	
  5292 Summerlin Commons Way

  	
  2234 Colonial Blvd.

  
	
   

  	
  Suite 1103

  	
   

  
	
   

  	
  Fort Myers, FL 33907

  	
  Fort Myers, FL 33907

  



 


22.3.3
All notices given hereunder shall be in writing, and shall be effective and
deemed to have been given only upon receipt by the party to which notice is
being given, said receipt being deemed to have occurred upon hand delivery or
posting, or upon such date as the postal authorities shall show the notice to
have been delivered, refused, or undeliverable, as evidenced by the return
receipt. Notwithstanding any other provision hereof, Landlord shall also have
the right to give notice to Tenant in any other manner provided by law.


 


22.4 Successors. All
rights and liabilities herein given to, or imposed upon, the respective parties
hereto shall extend to and bind the several respective heirs, legal
representatives, and permitted successors and assigns of the said parties; and
if there shall be more than one person or party constituting the Tenant, they
shall be bound jointly and severally by the terms, covenants and agreements
herein. No rights, however, shall inure to the benefit of any assignee of
Tenant unless the assignment to such has been approved by Landlord in writing
as provided herein. Nothing contained in this Lease shall in any manner restrict
Landlord’s right to assign or encumber this Lease and, in the event Landlord
sells its interest in the Building and the purchaser assumes Landlord’s
obligations and covenant, Landlord shall thereupon be relieved of all further
obligations hereunder.


 


22.5 Captions and Section Numbers.
The captions, section numbers, and article numbers appearing in this Lease are
inserted only as a matter of convenience and in no way define, limit, construe,
or describe the scope or intent of such sections or articles of this Lease nor
in any way affect this Lease.


 


22.6 Broker’s Commission.
The Tenant represents and warrants to Landlord that it has dealt with no real
estate broker, agent, salesperson or finder in connection with this Lease or
the Premises. Notwithstanding the foregoing, Tenant agrees to indemnify, defend
and save the Landlord harmless from all liabilities arising from claims by any
real estate broker or agent claiming through Tenant. Such indemnity of Tenant
shall include, without limitation, all of attorneys, fees incurred in
connection therewith.


 


27

















 


22.7 Partial Invalidity.
If any term, covenant or condition of this Lease or the application thereof to
any person or circumstances shall, to any extent, be invalid or unenforceable,
the remainder of this Lease the application of such term, covenant or condition
to persons or circumstances other than those as to which it is held invalid or
unenforceable, shall not be affected thereby and each term, covenant or condition
of this Lease shall be valid and enforceable to the fullest extent permitted by
law.


 


22.8 Estoppel Certificate.
Landlord and Tenant agree that each will, at any time and from time to time,
within ten (10) business days following written notice by the other party
hereto specifying that it is given pursuant to this Section, execute,
acknowledge and deliver to the party who gave such notice, or its designate, a
statement in writing certifying that this Lease is unmodified and in full force and effect (or if there have
been modifications, that the same is in full
force and effect and stating the modifications), and the date to
which the annual rent and any other payments due hereunder from Tenant have
been paid in advance, if any, and stating whether or not there are defenses or
offsets claimed by the maker of the certificate and whether or not to the best
of knowledge of the signer of such certificate the other party is in default in
performance of any covenant agreement or condition contained in this Lease, and
if so, specifying each such default of which the maker may have knowledge and
if requested, such financial information concerning Tenant and Tenant’s
business operations (and the Guarantor of this Lease, if this Lease be
guaranteed) as may be reasonably requested by any Mortgagee or prospective
mortgagee or purchaser. The failure of either party to execute, acknowledge and
deliver to the other a statement in accordance with the provisions of this Section within
said ten (10) business day period shall constitute an acknowledgment, by
the party given such notice, which may be relied on by any person holding or
proposing to acquire an interest in the Building or any party thereof or the
Premises or this Lease from or through the other party, that this Lease is
unmodified and in full force and
effect and that such rents have been duly and fully
paid to an including the respective due dates immediately preceding
the date of such notice and shall constitute, as to any person entitled as
aforesaid to rely upon such statements, waiver of any defaults which may exist
prior to the date of such notice; provided, however that nothing contained in
the provision of this Section shall constitute waiver by Landlord of any
default in payment of rent or other charges existing as of the date of such
notice and, unless expressly consented to in writing by Landlord, and Tenant
shall still remain liable for the same.


 


22.9 Waiver of Jury Trial.
In the event of any litigation arising from this Lease, both Landlord and
Tenant waive any and all rights to request a jury trial.


 


22.10 Recordings.
Tenant shall not record this Lease, or any memorandum or short form thereof,
without the written consent and joinder of Landlord.


 


22.11 Time of Essence.
Time is of the essence with respect to the performance of every provision of
this Lease in which time of performance is a factor.


 


22.12 Taxes on Leasehold.
Tenant shall be responsible for and shall pay before delinquency all municipal,
county or state taxes assessed during the term of this Lease against any
leasehold interest or personal property of any kind, owned by or placed in,
upon or about the Premises by the Tenant.


 


28

















 


22.13 Personal Property.
Landlord shall not be liable for any damage to property of Tenant or of others
located on the Premises, nor for the loss of or damage to any property of
Tenant or of others by theft or otherwise. Landlord shall not be liable for any
injury or damage to persons or property resulting from fire, explosion, falling
plaster, steam, gas, electricity, water, rain, or snow or leaks from any part
of the Premises or from the pipes, appliances or plumbing works or from the
roof, street or subsurface or from any other place or by dampness or by any
other cause of whatsoever nature. Landlord shall not be liable for any such
damage caused by other tenants or persons in the Premises, occupants of
adjacent property, or caused by operation in construction of any private,
public or quasi-public work. All property of Tenant kept or stored on the
Premises shall be so kept or stored at the sole risk of Tenant only.


 


22.14 Notice by Tenant.
Tenant shall give immediate notice to Landlord in case of fire or accidents in
the Premises or in the building of which the Premises are a part or of defects
therein or in any fixtures or equipment.


 


22.15 Surrender of
Premises. At the expiration of the tenancy hereby created, Tenant shall
surrender the Premises in the same condition as the Premises were in upon the
Commencement Date, reasonable wear and tear excepted, and damage by unavoidable
casualty excepted, and shall surrender all keys for the Premises to Landlord at
the place then fixed for the payment of rent and shall inform Landlord of all
combinations on locks, safes and vaults, if any, in the Premises. Tenant shall
remove all its trade fixtures before surrendering the premises as aforesaid and
shall repair any damage to the Premises caused thereby. Tenant’s obligation to
observe or perform this covenant shall survive the expiration or other
termination of the term of this Lease.


 


22.16 Attorney Fees and
Costs. In the event of a lawsuit or litigation concerning this Lease or
enforcement of this Lease the prevailing party shall be entitled to reasonable
attorney fees and costs. This will also cover appellant fees and appellant
costs.


 


22.17 Governing Law.
In the event of a lawsuit, litigation or interpretation of this Lease Agreement
parties shall be governed by the laws of the State of Florida.


 


22.18 Effective Date.
The “Effective Date” of this Lease is the date this Lease has been
executed by Landlord and Tenant without further modification or amendment.


 


22.19 Right of First
Refusal. So long as the Tenant is not in default under any of the terms and
conditions contained within the Lease, beyond any applicable notice and cure
period, in the event Landlord enters into a contract for the sale of the
Premises (the “Offer”) at any time during the Lease Term, or any
extension thereof, Landlord hereby grants Tenant the right of first refusal to
purchase the Premises on the same terms and conditions specified in the Offer.


 


(a) Within
ten (10) days of the execution of the Offer, Landlord shall deliver a
complete copy of the Offer to Tenant. Tenant shall have thirty (30) days to
determine whether or not Tenant desires to exercise its right of first refusal
on the Offer and shall provide written notice of such election within such
thirty (30) day period (unless such thirty (30) day period ends on a
non-business day, then such notice will be due on the


 


29

















 


next business day). Tenant’s
failure to deliver timely notice shall be deemed as Tenant’s waiver of its
right of first refusal to that Offer (but not any subsequent Offer).


 


(b) In
the event Tenant exercises its right of first refusal, Landlord and Tenant
shall enter into a contract (the “Contract”) on the same terms and
conditions as the Offer with all time periods extended in relation to the
effective dates of the Offer and the Contract. All terms and conditions of the
Lease shall continue until the Closing under the Contract. Should Landlord fail
to perform its obligations under the Contract, Tenant shall have all rights and
remedies provided in the Contract. Should Tenant fail to perform its
obligations under the Contract, Landlord shall not only have the rights and
remedies provided in the Contract, but shall be entitled to revive the Offer
and sell the Premises to the Purchaser thereunder.


 


(c) In
the event that either the Offer is terminated or a material term in the Offer
is changed, Tenant’s right of first refusal shall be reinstated as to any new
offer and/or the modified Offer, respectively. However, should Landlord timely
and properly close on the sale of the Premises to a party who is not affiliated
with Radiation Therapy Services or Theriac Enterprises (where (i) Tenant
was in default, (ii) did not timely exercise its right of first refusal,
or (iii) the Contract was properly terminated) then Tenant’s right of
first refusal shall become null and void.


 


22.20 Radon Gas.
Radon is a naturally-occurring radioactive gas that, when it has accumulated in
a building in sufficient quantities, may present health risks to persons who
are exposed to it over time. Levels of radon that exceed federal and state
guidelines have been found in buildings in Florida. Additional information
regarding radon and radon testing may be obtained from your county public
health unit.


 


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IN WITNESS WHEREOF, the undersigned
have hereunto set their hands and seals on the dates set forth below.


 


 


	
   

  	
  LANDLORD:

  
	
   

  	
   

  
	
   

  	
  THERIAC ENTERPRISES OF

  
	
   

  	
  BRADENTON, LLC, a Florida
  limited

  
	
   

  	
  liability company

  
	
   

  	
   

  
	
   

  	
  By: DDM LLC, a Florida limited liability

  
	
   

  	
  company, its Manager

  
	
   

  	
   

  
	
   

  	
  By: Cheda LLC, a Florida limited liability

  
	
   

  	
  company, its Managing

  
	
   

  	
  Member

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Daniel E. Dosoretz

  
	
   

  	
   

  	
  Daniel E. Dosoretz, its Manager

  
	
   

  	
   

  	
   

  
	
   

  	
  Date:

  	
  12/18/08

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TENANT:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  21st Century Oncology, Inc.

  
	
   

  	
   

  	
  , a

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Authorized
  Signatory

  
	
   

  	
  Print:

  	
   

  
	
   

  	
  Its:

  	
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  Date:

  	
  12/12/08

  
				



 


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EXHIBIT A


 


Legal
Description:


 


32