| **LEASE INDENTURE**

                This      Lease is made effective as of the 1st day of March, 2004 and is      by and between **HOWARD J. DOANE, JR., TRUSTEE OF HD REALTY TRUST - 1993,** under Declaration of Trust dated January 14, 1994 and recorded      with the Essex South District Registry of Deeds in Book 12245, Page 562,      with a mailing address of Two Industrial Way, Amesbury, Massachusetts      01913 (hereinafter referred to as the "Landlord" which      expression shall mean and include his successors and assigns wherever the      context permits), and **TITAN PCB EAST, INC.,**a Delaware corporation      with a mailing address of 1855 Norman Avenue, Santa Clara, California      95054 (hereinafter referred to as the "Tenant" which expression      shall include its successors and assigns wherever the context permits).      
 
W I T N E S S E T H:

 
**SECTION ONE**

 
DEMISED PREMISES

 **                    1.1          Description.**      Landlord hereby leases to Tenant the land owned by Landlord at One and Two      Industrial Way, Amesbury, Massachusetts, being the land described on      Exhibit A attached hereto and made a part hereof, together with all      buildings and improvements thereon (said land and all such buildings and      improvements, whether presently existing or hereafter constructed      hereinafter collectively referred to as the "demised premises").      
 **                    1.2          Rights      and Encumbrances.** The demised premises are leased to Tenant      together with all rights and appurtenances to the demised premises      including the parking areas, driveways and walkways serving the demised      premises, and are subject to all rights, mortgages, easements,      restrictions, covenants and other matters of record, and all laws,      regulations, rules, orders ordinances and the like imposed by any      governmental authority or legal subdivision having jurisdiction over the      demised premises or Tenant's activities thereon.      
-----------------------------------------------------------------------------------------------------------------------**                    1.3          Possession.**      Tenant has inspected the demised premises and all of the fixtures and      equipment therein, and accepts the demised premises and all such      furnishings, fixtures and equipment in the same "AS IS"      condition as they presently are in. Landlord shall have no obligation to      prepare, construct, renovate or repair any portion of the demised premises      for Tenant's occupancy, or otherwise bear any cost with respect thereto.      
 
**SECTION TWO**

 
COVENANT OF QUIET ENJOYMENT

 **                    2.1          Quiet      Enjoyment.** Landlord covenants that Tenant on paying the rent and      performing and observing Tenant's obligations in this Lease, shall      peacefully and quietly have, hold and enjoy the demised premises free of      lawful claims made by, through or under Landlord, subject to all the terms      and provisions hereof, and subject to mortgages, rights, easements,      restrictions, covenants and other matters of record.      
 
**SECTION THREE**

 
TERM

 **                    3.1          Term.**      Tenant shall have and hold the demised premises for a term of five (5)      years (unless sooner terminated as herein provided) commencing on the date      of this Lease and terminating on the last day of February 2009.      
 
**SECTION FOUR**

 
SUBORDINATION

 **                    4.1          Subordination.**      This Lease, and the rights of Tenant hereunder, are subject and      subordinate to any mortgage now or hereafter placed upon the demised      premises or any part thereof by Landlord (a "Mortgage"). Unless      the holder of any such Mortgage (a "Mortgagee") elects to the      contrary, such subordination shall be automatic, without the execution of      any further subordination agreement by Tenant. At the request of Landlord,      Tenant shall join in a subordination agreement requested by any Mortgagee,      which shall provide for the subordination of this Lease, in whole or in      part, to the Mortgage in question, or vice versa, in accordance with the      request of such Mortgagee. If any Mortgagee shall succeed to the interest      of Landlord, Tenant will pay to Mortgagee all rents subsequently payable      under this Lease, and, at Mortgagee's elections, Tenant shall attorn to      such successor Mortgagee and shall *ipso facto* be and become bound      directly to such Mortgagee as landlord to perform and observe all of the      Tenant's obligations under this Lease without the necessity of the      execution of any further instrument.      
-----------------------------------------------------------------------------------------------------------------------
**SECTION FIVE**

 
RENT

 **                    5.1          Minimum      Monthly Rent.** Tenant covenants to pay by check in lawful currency      of the United States a minimum monthly rent during the term of this Lease      on the first day of each month as set forth on EXHIBIT B attached hereto      and hereby made a part hereof.      
                                    Tenant's      obligation to make monthly payments of minimum rent shall commence to      accrue as of March 1, 2004.****Landlord acknowledges that Tenant has      paid the first month's rent due on March 1, 2004. Notwithstanding any      provision of this Lease to the contrary, Tenant, at Tenant's sole option,      may make payments of minimum monthly rent directly to the holder or      holders of a mortgage on the demised premises. Landlord agrees upon the      request of Tenant to provide Tenant with all information necessary to make      payments to any mortgagees.      
 **                    5.2          Additional      Rent**. As set forth on EXHIBIT B, attached hereto and hereby      made a part hereof, Tenant further covenants to pay, as additional rent,      the sum of $7,500/month towards all real estate taxes, assessments, water      and sewer charges, and other amounts required under any provision of this      Lease, and, in the event of failure by Tenant to pay any of the same,      Landlord shall have all the rights and remedies provided for in this Lease      and by law in the case of nonpayment of rent.      
----------------------------------------------------------------------------------------------------------------------**                    5.3          Payment      of Rent.**Tenant covenants that during the term hereof and for such      
                                     further      time as Tenant or any other person or persons claiming by or under Tenant      shall hold the demised premises or any part thereof, Tenant will pay the      minimum monthly rent and the additional rent to Landlord at its address as      specified in Section Thirteen without demand at the times specified      herein, and without offset or deduction of any kind.      
 **                    5.4          Net      Lease.** It is intended and agreed that the minimum rent shall be      absolutely net to Landlord and shall be paid without any abatement,      deduction, or setoff. Except as otherwise specifically set forth herein,      Tenant agrees to pay as additional rent, and shall save Landlord harmless      from and against all costs, real estate taxes, insurance premiums, water      and sewer and all other utility charges, maintenance and repair costs, and      expenses and obligations of every kind and nature whatsoever relating to      the demised premises or Tenant's use thereof, which may arise or become      due after the commencement date of this Lease and until the end of the      term. It is intended and agreed that Tenant shall be responsible for all      costs associated with the use of the demised premises, including any and      all costs of compliance with requirements of governmental authorities, as      well as any insurance rating bureau, whether or not such compliance is      required by reason of acts or omissions of Tenant, and whether such      compliance relates to the land, buildings and improvements, or conditions      above or below ground. For recovery of additional rent referred to in      Section 5.2 and this section 5.4, Landlord shall have the remedies      provided in this Lease for nonpayment of minimum rent. Landlord and Tenant      agree that Tenant is not responsible for the payment of any amount of      Taxes or utility charges on account of any period prior to the effective      date of this Lease.      
----------------------------------------------------------------------------------------------------------------------
**SECTION SIX**

 
MAINTENANCE AND REPAIRS

 **                    6.1          Tenant's      Repairs**. Tenant shall, at its sole cost and expense, (i)      make all necessary repairs to the demised premises and each and every part      thereof, including, but not limited to, the roof (including both      structural members and covering), walls and floor slab, so as to keep the      demised premises in the same condition in which they are now or may      hereafter be put, reasonable wear and use, damage by fire or other      casualty only accepted, (ii) maintain, repair and renew as necessary all      mechanical and utility systems on the demised premises so as to keep them      in good and safe operating condition in all respects, and (iii) keep the      sidewalks and parking areas in good repair and condition and reasonably      free from trash, snow, ice and other objectionable matter. All repairs      made by Tenant shall be equal or better in quality and class to the      original work.      
 **                    6.2**          **Compliance****with****Laws**. Tenant shall at all times comply with all      applicable building, zoning and land use, health, sanitary and safety      laws, rules, regulations, by-laws and other governmental requirements,      orders, rules or regulations and Environmental Laws, as hereinbelow      defined, as may be applicable to the demised premises, or the occupancy      thereof  from time to time. As used herein, the term      "Environmental Laws," shall include, but not limited to, the      Comprehensive Environmental Response Compensation and Liability Act of      1990, as amended, 42 U.S.C. Section 9601 et. seq.; the Hazardous Materials      Transportation Act, as amended, 49 U.S.C. Section 1801 et. seq.; the      Resource Conservation and Recovery Act, as amended, 42 U.S.C. Section 6901      et seq.; Massachusetts General Laws, Chapter      
-----------------------------------------------------------------------------------------------------------------------21E, as amended; the Massachusetts Contingency      Plan, as amended, 310 CMR 40.0000 et. seq.; and all other related      environmental laws, regulations, rulings, administrative interpretations      and common law requirements. The term "hazardous material "      shall include all hazardous materials (as that term is defined by M.G.L.      c.21E, Section 2), hazardous substances (as that term is defined by 42      U.S.C. Section 9601 et seq.), oil (as defined by the foregoing statutes),      and any other chemical, contaminant, substance, material or waste      regulated under any Environmental  Laws. The term "release"      means any spilling, leaking, pumping, pouring, emitting, emptying,      discharging, injecting, escaping, leaching, dumping, flushing or in any      other respect disposing into the surface, subsurface, groundwater or      environment (including without limitation, the  abandonment or      discarding of barrels, containers and other closed receptacles containing      any hazardous material), on or about the demised premises.      
 **                    6.3**          **Use      of Substances.** Tenant represents and warrants and agrees that      Tenant will not cause or permit any hazardous materials to be stored,      generated or disposed of in the demised premises except for hazardous      materials used in the ordinary course of Tenant's business in such manner      that it does not constitute a release or threat of release, or otherwise      establish responsibility under, liability under of violation of any      Environmental Laws. To the extent that Tenant uses any hazardous      materials, Tenant represents and warrants that Tenant has provided      Landlord with an inventory of all hazardous materials used or to be used      in the Tenant's normal operations at the demised premises, a copy of which      is attached hereto as EXHIBIT C and incorporated herein by reference, and      that Tenant will update said inventory as and when new materials are      introduced or previously inventoried materials are no longer stored.      Tenant further represents and warrants to the Landlord that in the      Commonwealth of Massachusetts, to the best of Tenant's knowledge, (i) has      not been subject to any regulatory action with respect to a violation of      any Environmental Laws or      
-----------------------------------------------------------------------------------------------------------------------otherwise with respect to any release or threat      of release, (ii) has not received any "notice of responsibility"      or the like from any governmental agency, (iii) has not previously caused      or been a person responsible for a release or threat of release of      hazardous materials, (iv) has not been a defendant in any lawsuit,      administrative proceeding, arbitration, mediation or other proceeding in      which it has been alleged that tenant has liability under any      Environmental Laws or otherwise for a release or a threat of release of      hazardous material, and (vi) has not at any time violated any      Environmental Law in its operations.      
 **                    6.4**          **Release;      Reporting; Remediation.** Tenant shall not release or otherwise      cause any hazardous materials to be the subject of a release or threat of      release to the soils, groundwater, subsurface, surface or otherwise at the      demised premises. In the event of a release or threat of release at the      demised premises, Tenant shall immediately report such release to Landlord      and to the applicable governmental authority as required by the applicable      Environmental Laws, and shall promptly provide Landlord with all reports,      data, sampling results and information concerning any such release. Tenant      shall further immediately take any and all steps to remedy any such      release; to in all other respects comply with all Environmental Laws; and      to restore the Premises to its conditions existing prior to such release.      
 **                    6.5**          **Inspection.**      Upon reasonable notice to Tenant, except in the case of an emergency,      Tenant hereby grants Landlord and its employees, agents, consultants and      independent contractors the right to enter upon the Premises for the      purpose of conducting tests, soil borings and selection of monitoring      wells, and any other tests and/or inspection which Landlord deems      necessary or desirable. At any time during the term of this Lease,      Landlord may for reasonable cause, require Tenant to provide Landlord, at      the expense of Tenant, an inspection or audit of the Premises, prepared by      a qualified consultant approved by Landlord, certifying as to the presence      or absence of hazardous materials, or to permit Landlord to so inspect or      audit the Premises at Tenant's expense      
 **                    6.6          Indemnification      Against Release.** Tenant hereby agrees to indemnify Landlord from      and against all loss, liability, damage and expense, including attorneys'      fees, suffered or incurred by Landlord by reason of any Release or      violation of any Federal, state or local law, order, rule or regulation      with respect to use, storage or disposal of Hazardous Material on the      demised premises.      
 **                    6.7**          **Tenant's      Alterations.** Tenant, at its expense and in a good and workmanlike      manner, (i) may make improvements, additions or alterations to or upon the      demised premises, provided that prior written approval has been granted by      Landlord, and (ii) shall make all improvements, additions, and alterations      to or upon the demised premises required by any public authority or      insurance rating bureau. All such improvements, alterations or additions      shall be performed by contractors approved in advance by Landlord in      writing, which contractors shall provide evidence of liability insurance,      including completed operations coverage, plus builders, risk insurance in      amounts not less than specified in this Lease. Tenant shall pay all      contractors amounts for work performed as and when due and shall not      permit the recording or filing of any notice of contract or similar item      signifying a lien for labor or materials in respect of such work. Tenant      shall immediately discharge any such lien by payment or provision of a      bond, in form and substance reasonably satisfactory to Landlord and      Mortgagee. Tenant shall obtain all licenses and permits required for the      performance of any such work, as well as such documentation signifying      completion thereof to the satisfaction of the local governmental      authorities. Such permits shall be displayed in a conspicuous place on the      demised premises during performance of any such work.      
-----------------------------------------------------------------------------------------------------------------------**                    6.8**          **Title      to Improvements.** All improvements, additions and alterations made      or installed by or on behalf of Tenant, except as provided in Subsection      12.1 hereof, shall upon the expiration or earlier termination of this      Lease become the property of Landlord without payment therefor by      Landlord. All machinery, equipment, trade fixtures, movable partitions,      furniture and furnishings installed at the expense of Tenant shall remain      the property of Tenant, but Tenant shall at its own cost and expense      repair any and all damage to the demised premises caused by the      installation or removal thereof.
**                    6.9          Survival      of Obligations.**  Tenant's obligation to observe or perform the      covenants and agreements in this Section Six shall survive the expiration      or other termination of this Lease. **SECTION SEVEN**

 
TAXES, ASSESSMENTS AND UTILITY CHARGES

 **                    7      .1          Obligations      of Tenant -Taxes.** Tenant shall pay as additional rent all Taxes      imposed with respect to the demised premises or any portion thereof,      Tenant's interest therein, and/or property of Tenant located thereon or      therein, which are attributable to any period beginning with the date of      commencement of this Lease and until the end of the term as the same may      be extended from time to time.      
 As used herein the term Taxes shall mean: All      taxes, assessments, rates, charges, betterments, excises, levies, license      and permit fees, and all other governmental charges, or impositions,      general and special, ordinary and extraordinary, unforeseen and foreseen,      of any kind and nature whatsoever which at any time may be assessed,      levied, confirmed, imposed upon, become due and payable out of or in      respect of, or becoming a lien on the demised premises, or any part      thereof or any appurtenance thereto, or upon any lease, rent, use or      occupation of the demised premises, or any part thereof or any facilities      associated therewith, and such franchises as may be appurtenant to the use      thereof; excluding, however, general federal and state income, death, gift      or transfer taxes of Landlord. Should any such Taxes be determined with      respect to rents or Tenant's use and/or occupancy, Tenant shall be      responsible for the entire amount of such Tax which is determined with      respect to rents or Tenant's use and/ or occupancy.      
---------------------------------------------------------------------------------------------------------------------**                    7.2          Payment      by Tenant.**Tenant agrees to pay all Taxes to Landlord within      twenty (20) days of receipt of Landlord's demand therefor accompanied by a      copy of the bill.      
 **                     7.3          Tenant's      Right to Contest Taxes.** Tenant shall have the right, upon prior      written notice to Landlord and at Tenant's sole cost and expense, to      contest the amount or validity, in whole or in part, of any Taxes, or to      seek a reduction in the valuation of the demised premises as assessed for      real estate or personal property tax purposes by appropriate proceedings      diligently conducted in good faith so long as neither the demised premises      nor any part thereof would be in danger of being forfeited or lost.      
 **                    7.4          Landlord's      Right to Contest Taxes.** Landlord shall have the right to contest      by appropriate proceedings the amount or validity, in whole or in part, of      any Taxes, or to seek a reduction in the assessed valuation for tax      purposes of the demised premises, if, within thirty (30) days after notice      by Landlord (or, if sooner, five (5) business days prior to the last date      on which such proceedings may be commenced of right), Tenant fails to      commence such a proceeding. Landlord shall also have the right, if Tenant      fails diligently to prosecute any such proceeding, to intervene in and      prosecute any proceeding commenced by Tenant, to contest the amount or      validity of any Taxes in whole or in part or to seek a reduction of such      assessed valuation or valuations.      
----------------------------------------------------------------------------------------------------------------------**                    7.5          Obligations      of Tenant -Utilities and Other Charges.** Tenant shall pay as      additional rent all water and sewer charges, general and special      assessments, and other governmental charges together with interest and      penalties, if any, which may be payable in respect of the demised      premises, and to pay promptly as they become due all charges for any gas,      electricity, telephone, fuel oil, water and sewer or other utility      service, commodity or facility (collectively called "Utility      Charges") supplied to the demised premises during the term of this      Lease.      
 **                    7.6          Apportionment**.      Upon termination of the term or any further period during which the Tenant      or any person claiming under the Tenant shall hold the demised premises or      any part thereof, Tenant shall pay all such Taxes and Utility Charges,      prorated to such termination, as shall have been assessed or incurred, but      remain unpaid, whether or not then due.      
 
**SECTION EIGHT**

 
ASSIGNMENT OR SUBLETTING, ETC.

 **                    8.1          Approval      Required**. Tenant may not assign this Lease or sublet the      whole or any part of the demised premises, or permit the same to be      occupied or used by any person without first obtaining the written consent      of Landlord and Mortgagee in each case. A transfer of a controlling      interest in Tenant shall be deemed an assignment for purposes of this      section. In the case of an assignment or subletting of the demised      premises, Tenant shall pay to the Landlord, as additional rent, all      consideration, payments or rent received by Tenant over and above the      minimum monthly rent paid hereunder. No consent once given shall be deemed      to constitute consent to any further assignment or sublet, as the case      may, or to waive the requirement that consent be obtained in each such      further instance.      
 **                                   Approval      Not Required.** Landlord may, upon a sale of the demised premises,      assign all of its rights and obligations to the buyer without approval of      the Tenant and Tenant agrees to attorn to the new Landlord.      
 
**SECTION NINE**

 
INSURANCE

 **                    9.1          Tenant's      Insurance.**Tenant shall maintain the following insurance at the      Tenant's expense throughout the term of this Lease and during such further      time as Tenant or any person claiming under it shall hold the demised      premises or any part thereof:      
                                    (a)      Commercial general liability insurance with a contractual liability      exclusion rider insuring Landlord and Tenant and any Mortgagee against      claims for bodily injury or death occurring on or about the demised      premises, such insurance to afford protection to a limit of not less than      Two Million Dollars ($2,000,000.00), or such greater amount as may be      required by the holder of any mortgage which includes the demised      premises;      
                                    (b)      Property damage insurance insuring Landlord, Tenant and any Mortgagee as      loss payee against claims for damage or injury to property occurring on or      about the demised premises, such insurance to afford protection to a limit      of not less than Five Hundred Thousand Dollars ($500,000.00) with respect      to damage to the property of anyone owner.      
                                    (c)      Property insurance with special form (formerly designated all-risk)      coverage in an amount sufficient to cover the full replacement cost of all      buildings, structures, improvements, additions and alterations, now or at      any time hereafter on the demised premises;      
-----------------------------------------------------------------------------------------------------------------------                                   (d)      Workers ' compensation policies in amounts and coverages required by the      laws and regulations of the Commonwealth of Massachusetts; and      
                                    (e)      Such other insurance and in such amounts as from time to time may      reasonably be required by Landlord against other insurable hazards which      at the time are commonly insured against in the case of premises similarly      situated and used, or which are required by any Mortgagee.      
 **                    9.2           Insurance      Provisions.** All insurance provided for in Section 9.1 shall be      effected with or through responsible insurers authorized to write such      insurance in Massachusetts, shall name Landlord and Mortgagee as      additional insured and loss payees, as applicable, and shall provide that      such insurance shall not be canceled or modified without at least thirty      (30) days' prior written notice to any Mortgagee and each insured named      therein. Such insurance may be maintained under a "blanket      policy," so-called, insuring other property of Tenant. The limits and      types of insurance required hereunder may be increased, modified or added      to from time to time by Landlord effective after thirty (30) days prior      notice to the Tenant so that they are, (i) in the reasonable opinion of      Landlord comparable to the limits and types customarily carried by the      responsible tenants similarly situated and conducting comparable      businesses, and/or (ii) in conformity with the requirements of any      Mortgagee.      
 **                    9.3          Evidence      of Insurance.** Upon the commencement of this Lease and thereafter      not less than twenty (20) days prior to the expiration dates of the      expiring policies, Tenant shall deliver to Landlord and any Mortgagee      certificates or binders evidencing the insurance coverages provided for in      Section 9.1 and renewals thereof.      
----------------------------------------------------------------------------------------------------------------------**                     9.4          Property      at Tenant's Risk.** In addition to and not in limitation of the      foregoing, Tenant covenants and agrees that all vehicles, equipment,      supplies, merchandise, furniture, fixtures and property of every kind,      nature and description, whether or not owned by Tenant, which may be in or      about the demised premises, or on the sidewalks, areaways, walls, or      approaches adjacent thereto, during the term hereof, shall be there at the      sole risk and hazard of Tenant, and that if the whole or any part thereof      shall be damaged, destroyed, stolen, or removed for any cause or reason      whatsoever, whether or not due to negligence of Landlord, no part of said      damage or loss shall be charged to, or borne by, Landlord. Tenant shall      keep its personal property and trade fixtures fully insured against loss      or damage by fire and other casualties, under policies which, shall name      Landlord as an insured as its interest may appear, and provide for waiver      of any rights of subrogation against Landlord.      
 
**SECTION TEN**

 
INDEMNIFICATION

 **                    10.1          Indemnification.**      (a) Tenant shall indemnify, defend, protect, and save Landlord harmless      from and against, and shall reimburse Landlord for all liabilities,      obligations, damages, fines, penalties, claims, demands, costs, charges,      judgments and expenses, including, but not limited to, reasonable fees of      engineers, architects, and attorneys, which may be imposed upon or      incurred or paid or asserted against Landlord or Landlord's interest in      the demised premises by reason of or in connection with (i) any condition      or occurrence on or about the demised premises, which is discovered or      happens during the term of this Lease and such additional time as Tenant      (or anyone claiming by, through, or under Tenant) shall remain in      possession of the demised premises, other than such liabilities as are      caused solely by the gross negligence of Landlord, (ii) any breach of,      default in, or failure to perform any obligations of Tenant under this      Lease, and (iii) any matters referred to in Subsections 9.4 and 19.4      hereof.      
----------------------------------------------------------------------------------------------------------------------(b) Any expenses incurred by Landlord because of      Tenant's failure to observe the provisions of this Lease, including,      without limiting the generality of the foregoing, those incurred under      Section Six hereof, shall constitute additional rent due hereunder and      shall be paid to Landlord upon demand, in lump sum, together with interest      at the lesser of (a) the maximum legal allowable rate or (b) four percent      (4%) per annum in excess of the then prime rate of interest being charged      by Eastern Bank (or any successor thereto), from the date said expenses      were incurred to the date said additional rent is paid. For the recovery      of such amounts Landlord shall have the remedies provided in this Lease      for nonpayment of minimum rent.      
 **                    10.2          Survival      of Obligations.**  Tenant's obligation to observe or perform the      covenants and agreements in this Section Ten shall survive the expiration      or other termination of this Lease.      
 
**SECTION ELEVEN**

 
USE OF DEMISED PREMISES

 **                    11.1          Limitations      on Use**. The demised premises shall be used only for      manufacturing, offices and warehousing to the extent permitted by      applicable zoning laws and not in violation of any restrictions of record      applicable to the demised premises and for no other purpose whatsoever.      Landlord makes no representation or warranty to Tenant in respect of the      legality of tenant's proposed use of the demised premises. Tenant shall,      at its own expense (a) promptly execute and comply with and conform to all      applicable rules, regulations, orders and requirements of any public      authority, and (b) obtain and maintain all permits, licenses, certificates      and franchises necessary for its use and occupation of the demised      premises and for the erection and maintenance of all signs. Failure to      obtain or maintain any of the same shall not excuse Tenant from its      obligations under this Lease. Tenant agrees that the demised premises and      their appurtenances shall not be overloaded, damaged or defaced and that      no trade or occupation shall be carried on upon the demised premises, or      use made thereof, which shall produce noxious odors or constitute a      nuisance, or which shall be unlawful, improper, noisy or offensive, or      contrary to any laws or any bylaw of the Town of Amesbury, or injurious to      any person or property.      
----------------------------------------------------------------------------------------------------------------------**                    11.2            Tenant's      Right to Appeal.** Tenant shall have the right to contest and appeal      any requirements of any public authority, provided such contest is made in      good faith and in compliance with applicable procedures and is diligently      pursued, but in no way shall any noncompliance occur or delays be caused      by any such contest or appeal which could impose any liability on or      adversely affect either Landlord or the demised premises.      
 
**SECTION TWELVE**

 
YIELDING UP

 **                    12.1          Surrender**.      Upon the expiration or earlier termination of this Lease, Tenant shall      surrender and yield up peacefully and quietly to Landlord possession of      the demised premises and all alterations, additions, fixtures,      improvements and equipment therein, broom clean and in as good condition      as they were in at the time of commencement of Tenant's initial occupancy      of the demised premises, or as the demised premises may have been improved      thereafter, reasonable wear and tear and damage by casualty excepted, and      subject to the provisions of Sections Fourteen and Fifteen. Tenant shall      have the right to remove only removable items which it is entitled to      remove pursuant to this Lease and which are Tenant's own personal      property. All installations, alterations, additions and improvements to or      upon the demised premises, made by Tenant or any other person during the      Tenant's occupancy of the demised premises, whether or not during the term      of this Lease shall be deemed part of the demised premises, and upon the      expiration or other termination of the term of this Lease shall be      surrendered with the demised premises as a part thereof, without      
-----------------------------------------------------------------------------------------------------------------------disturbance, molestation or injury (except to      the extent that Landlord shall elect to have Tenant remove any such      installations, alterations, additions or improvements prior to or within      sixty (60) days after the later of expiration or other termination of the      term hereof or the time Tenant vacates the demised premises, in which      event Tenant shall so remove such installations, alterations, additions      and improvements, repairing all damage caused thereby). In the event that      Tenant shall fail to remove its goods and effects from and shall continue      in occupancy of, the demised premises after the expiration or prior      termination of this Lease, a tenancy at sufferance only shall be deemed to      exist, and Tenant shall owe Landlord rent therefore at a rate equal to one      hundred fifty percent (150%) of the minimum rent, additional rent and      other charges in effect at expiration or prior termination of this Lease,      prorated on a daily basis for each day or partial day that the Tenant      continues in possession past the expiration or prior termination hereof.      
 **                    12.2          Abandoned      Property.** Any personal property which shall remain on the demised      premises after Tenant shall have vacated or abandoned the demised premises      shall be conclusively deemed to have been abandoned, and either may be      retained by Landlord as its property or may be disposed of in such manner      as Landlord may see fit; provided, however, notwithstanding the foregoing,      that Tenant will, upon request of Landlord made not later than thirty (30)      days after the expiration or termination of the term hereof, promptly      remove from the demised premises any such personal property, provided      further, however, that in all events Tenant shall remove, hiring duly      licensed and insured reputable contractors, any and all materials that may      constitute hazardous substances or hazardous materials as defined by      applicable law above, without further request of Landlord. If any part of      such personal property shall be sold, Landlord may receive and retain the      proceeds of such sale and apply the same, at its option, against the      expenses of the sale, the cost of moving and storage, any arrearages of      minimum monthly rent, additional rent or other charges payable hereunder      by Tenant to Landlord, and any damages to which Landlord may be entitled      under this Lease or pursuant to law.      
-----------------------------------------------------------------------------------------------------------------------**                    12.3          Survival      of Obligations.** Tenant's obligation to observe or perform the      covenants and agreements in this Section Twelve shall survive the      expiration or other termination of this Lease.      
 
**SECTION THIRTEEN**

 
NOTICES

 **                    13.1      Notice Procedure**. All notices required to be given or      delivered by either party to the other shall be delivered or sent by      registered or certified mail, postage prepaid, return receipt requested,      or by reputable national overnight courier who provides a receipt against      delivery, addressed to the other party at its usual place of business      which shall be:If to Landlord:                               Howard      J. Doane, Jr., Trustee of HD Realty Trust - 1993                                                      56      Whitehall Road                                                      Amesbury,      MA 01913      
If to Tenant:                                   Titan      PCB East, Inc.                                                      1855      Norman Avenue                                                      Santa      Clara, California 95054

unless notice of a different address to which notices shall be      delivered or mailed shall have been given one to the other in the manner      herein provided at least ten (10) days before the effective date thereof.      Notices to Landlord shall also be sent to Eastern Bank, 265 Franklin      Street, Boston, Massachusetts 02110, to the attention of Mr. John Farmer,      Vice President.

-----------------------------------------------------------------------------------------------------------------------**                    13.2      Notice to Mortgagee**. After receiving written notice from      any person, firm or other entity that it holds a Mortgage which includes      as part of the mortgaged premises the demised premises, Tenant shall, so      long as such Mortgage is outstanding, be required to give to such holder      the same notice as is required to be given to Landlord under the terms of      this Lease; but such notice may be given by Tenant to Landlord and such      holder concurrently.      
 
**SECTION FOURTEEN**

 
CONDEMNATION

 **                    14.1          Complete      Taking**. If title to the whole or substantially all of the      demised premises shall be taken as a result of the exercise of the power      of eminent domain or by agreement between Landlord and those authorized to      exercise such power (a "complete taking"), the term of this      Lease and all right, title and interest of Tenant hereunder, subject only      to Tenant's rights under this Section Fourteen, shall terminate on the      date of vesting of title pursuant to such taking or agreement, and all      rent shall be apportioned and paid to the date thereof. For the purposes      of this section, a "complete taking" shall be deemed to have      occurred if a taking shall (a) include fifty percent (50%) or more of the      total floor area of the buildings on the demised premises, or (b) include      seventy-five percent (75%) or more of the land area of the demised      premises.      
 **                    14.2          Partial      Taking**. If title to any portion of the demised premises      shall be so taken which shall be less than a complete taking (a      "partial taking"), Landlord shall be entitled to and shall      receive the total award made in such proceeding, including interest      thereon, if any, and the rent and other terms of this Lease shall not be      reduced or affected in any way. Subject to the rights of Mortgagee,      Tenant, at its sole expense, shall proceed to restore, repair, replace or      rebuild the remaining part of the demised premises as nearly as possible      to the condition they were in immediately prior to such taking, to the      extent that the same shall be feasible. The obligation of Tenant to make      such restoration, repairs,      
-----------------------------------------------------------------------------------------------------------------------replacements, or rebuilding shall be conditioned      upon the payment to Tenant (or agreement to pay subject to conditions      referred to in the next sentence) of the net amount of such award      including interest thereon, if any, after deducting (a) the fair value of      the land so taken, and (b) all expenses incurred by Landlord in connection      with such proceeding. Such payment may be made in installments subject to      customary applications with respect to the cost of the work as said cost      shall be certified to Landlord or Mortgagee(s), and/or by the architect or      contractor in charge of the work who shall be approved in writing by the      Landlord and such Mortgagee(s), which approval shall not be unreasonably      withheld. The excess of any such award over the cost of such restoration,      repairs, replacements or rebuilding shall belong to Landlord, and the cost      of such restoration, repairs, replacements or rebuilding in excess of any      such award shall be borne by Tenant.      
 **                     14.3          Damages**.      If a complete taking shall occur during the original or any extended term      of this Lease, Landlord reserves to itself and Tenant hereby assigns to      Landlord all rights to damages accruing on account of any such taking.      Nothing in the preceding sentence shall prohibit Tenant from applying to      the taking authority for any separate award to which Tenant may be      lawfully entitled, provided that such award shall not reduce the amount of      Landlord' s award.      
 
**SECTION FIFTEEN**

 
DAMAGE OR DESTRUCTION

 **                    15.1          Tenant's      Duty to Repair**. Tenant covenants and agrees that in case of      damage to or destruction of the demised premises or any part thereof by      fire or other casualty, Tenant, at its sole cost and expense, shall      proceed to restore, repair, replace or rebuild the same as nearly as      possible to the condition they were in immediately prior to such damage or      destruction, and any such restoration, repairs, replacements or rebuilding      shall be commenced promptly and prosecuted with reasonable diligence.      
----------------------------------------------------------------------------------------------------------------------**                    15.2          Application      of Insurance Proceeds.** Subject to the rights of Mortgagee, the      obligations of Tenant under Subsection 15.1 hereof are subject to the      condition that all insurance money recovered by Landlord and any      Mortgagee(s) on account of such damage or destruction shall be applied by      Landlord and such Mortgagee to the payment of the cost of the aforesaid      restoration, repairs, replacements or rebuilding. The payment of such      insurance proceeds may at the election of Landlord and/or such Mortgagee(s)      be paid to Tenant from time to time for application to the cost of the      work as said cost shall be certified to Landlord and/or such mortgagee(s)      by an architect or contractor in charge of the work who shall be approved      in writing by Landlord and such Mortgagee(s), which approval shall not be      unreasonably withheld; provided, however, that the balance of insurance      proceeds shall not thereby be reduced below the amount which shall be      specified in such architect's certificate or such contractor's      requisitions as the amount required to complete the restoration. Upon      receipt by Landlord and such Mortgagee(s) of satisfactory evidence that      the restoration has been completed and paid for in full, and that there      are no liens, encumbrances or other charges on the demised premises or any      part thereof, any balance of the insurance proceeds at the time held by      Landlord or such holder or holders shall be paid to Tenant (subject to the      rights of Mortgagee).      
 **                    15.3          Abatement      of Rent.**  Tenant's obligation to make payment of the rent and to      perform all other covenants and agreements hereunder shall not be affected      by any such damage or destruction of any building on the demised premises      by fire or otherwise.      
-----------------------------------------------------------------------------------------------------------------------
**SECTION SIXTEEN**

 
LANDLORD'S REMEDIES

 **                    16.1          Landlord's      Right to Cure.** If Tenant shall default in the performance or      observance of any agreement or condition in the Lease contained on its      part to be performed or observed, other than in the payment of any minimum      monthly rent, additional rent, or other charges, Landlord, after written      notice by Landlord to Tenant specifying the nature of the default and upon      the expiration of thirty (30) days after the delivery of said notice      unless the default cannot reasonably be cured within said thirty (30) days      due to causes beyond Tenant's control, then upon failure of Tenant to      commence to cure said default within a reasonable time after the delivery      of said notice, and prosecute the curing of said default to completion      with due diligence may, at its option, but without obligation to do so,      cure any such default for the account of Tenant and any amount and any      expense paid by Landlord in so doing with interest thereon at the rate per      annum of four percent above the "prime rate" of Eastern Bank (or      any successor thereto) shall be charged by Landlord as additional rent and      added to the installment or installments of rent thereafter accruing and      Tenant agrees to pay such additional rent to Landlord on demand, and for      recovery of which Landlord shall have the remedies provided in this Lease      for nonpayment of minimum rent. Notwithstanding the foregoing, Landlord      may cure any such default prior to the expiration of the waiting period      after such notice to Tenant, if the curing of such default is reasonably      necessary to protect the demised premises or Landlord's interest therein      or to prevent injury or damage to persons or property. All of the rights      and remedies given to Landlord in this Lease or by law or equity shall be      cumulative and concurrent. The failure of Landlord to insist in anyone or      more cases upon the strict performance of any of the covenants of this      Lease, or to exercise any option herein contained, shall not be construed      as a waiver or relinquishment for the future of such covenant or option.      
 
**SECTION SEVENTEEN**

 
DEFAULT

 **                    17.1          Conditions      of Limitation.** This Lease is subject to the limitation that each      of the following shall constitute an event of default:      
                                      (a)      if Tenant shall default in the payment of the minimum monthly rent; or      
                                      (b)      if Tenant shall default in the payment of any additional rent or other      charge payable hereunder by Tenant to Landlord on any date upon which the      same becomes due, and such default shall continue for fifteen (15) days;      or      
                                      (c)      if Tenant makes any assignment for the benefit of creditors, or if Tenant      files a petition under any bankruptcy or insolvency law; or if such a      petition is filed against Tenant and is not dismissed within thirty (30)      days; or if a receiver or similar officer becomes entitled to Tenant's      leasehold hereunder and it is not returned to Tenant within thirty (30)      days; or if such leasehold is taken on execution or other process of law      in any action against Tenant; or if Tenant shall desert or abandon the      demised premises or the same shall become, or shall appear to have become,      vacant; or any event shall occur or any contingency shall arise whereby      this Lease, or the term and estate hereby created, or possession of the      demised premises would (by operation of law or otherwise) devolve upon or      pass to any person, firm, corporation or entity other than Tenant; or      
----------------------------------------------------------------------------------------------------------------------                                     (d)      if Tenant shall do anything or permit anything to be done, whether by      action or inaction, contrary to any covenant, agreement, term, provision      or condition of this Lease on the part of Tenant to be kept, observed or      performed [other than a default of the character referred to in      subparagraphs (a), (b) or (c) above], and if such situation shall continue      and shall not be remedied by Tenant within thirty (30) days after Landlord      shall have given to Tenant a written notice specifying the same, or, in      the case of such a situation which for causes beyond Tenant's control      cannot with due diligence be cured within said period of thirty (30) days,      if Tenant (i) shall not, promptly upon the giving of such notice, advise      Landlord in writing of Tenant's intention to duly institute all steps      necessary to remedy such situation, (ii) shall not duly institute and      thereafter diligently prosecute to completion all steps necessary to      remedy the same, or (iii) shall not remedy he same within a reasonable      time after the date of the giving of said notice by Landlord; then, upon      the occurrence of any of the foregoing events of default, Landlord may      give to Tenant a notice of intention to end the term of this Lease at the      expiration of three (3) days from the date of the giving of such notice,      and, in the event such notice is given, this Lease and the term and estate      hereby granted shall terminate upon the expiration of said three (3) days      with the same effect as if that day were the date hereinbefore set for the      expiration of the term of this Lease.      
 **                    17.2**          **Right      of Entry.** If Tenant shall default in the payment of any rent or      any installment thereof or any other charge payable hereunder by Tenant to      Landlord on any date upon which the same becomes due, and if such default      shall continue beyond any period of grace specified herein, or if this      Lease shall terminate as in Subsection 17.1 hereof provided, Landlord or      Landlord's agents and servants may immediately or at any time thereafter      re-enter upon the demised premises, or any part thereof, in the name of      the whole, either by summary process proceedings or by any suitable action      or proceeding at law, or by force or otherwise, without being liable to      indictment, prosecution or damages therefor, and may repossess the same,      and, may remove any persons therefrom, without prejudice to any remedies      which might otherwise be used for arrears of rent. In the event of any      termination of this Lease under the provisions of Subsection 17.1 hereof      or if Landlord shall re-enter the demised premises under the provisions of      this Section 17.2 or in the event of the termination of this Lease (or of      re-entry) by or under any summary process or other proceeding or action or      any provision of law, Tenant shall thereupon pay to Landlord the minimum      monthly rent, additional rent and any other charge payable hereunder by      Tenant to Landlord up to the time of such termination of this Lease, or of      such recovery of possession of the demised premises by Landlord, as the      case may be.      
-----------------------------------------------------------------------------------------------------------------------
**SECTION EIGHTEEN**

 
DAMAGES

 **                    18.1          Damages      in****the Event of Termination.** In the event of any      termination of this Lease under the provisions of Subsection 17.1 hereof      or if Landlord shall re-enter the demised premises under the provisions of      Subsection 17.2 hereof or in the event of the termination of this Lease      (or of re-entry) by or under any summary process or other proceeding or      action or any provision of law, Tenant will pay to Landlord as liquidated      current damages sums equal to the aggregate of the minimum monthly rent      and the additional rent which would have been payable by Tenant had this      Lease not so terminated, or had Landlord not so re-entered the demised      premises, payable upon the due dates therefor specified herein following      such termination or such re-entry and until the date hereinbefore set for      the expiration of the then current term; provided, however, that if      Landlord shall re-let the demised premises during said period, Landlord      shall credit Tenant with the net rents received by Landlord from such      re-letting, such net rents to be determined by first deducting from the      gross rents as and when received by Landlord from such re-letting the      expenses incurred or paid by Landlord in terminating this Lease or of      re-entering the demised premises and of securing possession thereof, as      well as the expenses of re-letting, including brokers' commissions and all      other expenses properly chargeable in connection with such re-letting.      
------------------------------------------------------------------------------------------------------------------------
**SECTION NINETEEN**

 
MISCELLANEOUS

 **                      19.1          Non-Interference      with Landlord's Entry and Repairs.** Landlord reserves the right,      and without liability to Tenant for any compensation or reduction of rent      by reason of inconveniences or annoyance or for loss of business arising      therefrom, to enter the demised premises for any of the purposes in this      Lease authorized, or for repairing the demised premises however the      necessity may occur. In case Landlord is prevented or delayed from making      any repairs, or performing any other covenant or duty to be performed on      Landlord's part, by reason of any cause reasonably beyond Landlord's      control, Landlord shall not be liable to Tenant therefor, nor shall Tenant      be entitled to any abatement or reduction of rent by reason thereof, nor      shall the same give rise to a claim in Tenant's favor that such failure      constitutes actual or constructive eviction from the demised premises or      any part thereof, provided, however, no duty or obligation of Landlord      shall be implied by reason of any rights of access set forth in this      Section 19 or elsewhere in this Lease.      
 **                    19.2          Reasonable      Right of Entry by Landlord**. Tenant agrees to permit      Landlord and Landlord's agents to examine the demised premises at      reasonable times during working hours and, if Landlord shall so elect, to      make any repairs or replacements Landlord may deem necessary, and to show      the demised premises to prospective purchasers and mortgagees at      reasonable times during working hours and to prospective tenants. Under      emergency circumstances, Landlord shall have the right of entry at any      time.      
-----------------------------------------------------------------------------------------------------------------------**                    19.3          Restrictions      on Floor Load. etc**. Tenant covenants and agrees not to      place a load upon the demised premises exceeding the live load for which      the floors have been designed; and not to move any safe, vault or other      heavy equipment in, about or out of the demised premises except at      Tenant's expense and in such manner and at such time as Landlord shall in      each instance authorize.      
 **                    19.4          Property      Damage.** Tenant covenants and agrees that all equipment, furniture,      fixtures, leasehold improvements and property of every kind, nature and      description of Tenant or Tenant's employees, agents, contractors,      invitees, customers, visitors or guests which may be in or upon the      demised premises, or on the sidewalks, parking areas and approaches      adjacent thereto, shall be at the sole risk and hazard of Tenant, and that      if the whole or any part thereof shall be damaged, destroyed, stolen or      removed by reason of any cause or reason whatsoever including leakage of      water, whether or not attributable in whole or in part to negligence of      Landlord, no part of said damage or loss shall be charged to or borne by      Landlord.      
 **                    19.5          Tenant      Payment of Personal Property Taxes.** Tenant covenants and agrees to      pay promptly when due all taxes which may be imposed upon personal      property (including, without limitation, fixtures and equipment) in the      demised premises to whomever assessed.      
 **                    19.6          Limitation      on Landlord's Liability. etc.** Neither Landlord nor any individual      or entity affiliated with Landlord shall be personally liable for any      obligations to Tenant or anyone claiming by, through, or under Tenant, and      Tenant shall look solely to Landlord's interest in the demised premises      (but no other assets) in pursuit of any claims or remedies.      
 **                    19.7          Financial      Statements.** Tenant shall provide to Landlord on request financial      statements and such other information as may be requested by any Mortgagee.      
-----------------------------------------------------------------------------------------------------------------------**                    19.8**          **Estoppel      Certificates**. Within ten (10) business days after receipt      of a request from Landlord or Tenant, the other party agrees to deliver to      any perspective purchaser or other person specified in the request an      estoppel certificate in such form as the purchaser, Mortgagee or other      person may reasonably request. Each estoppel certificate will be (i)      signed by a duly authorized representative of Tenant or Landlord as the      case may be, (ii) delivered without charge to the party requesting it, and      (iii) binding as to its contents on Tenant or Landlord as the case may be.      
 **                    19.9          Rules      of Construction.** It is expressly agreed between the parties hereto      that:      
                                      (a)      Unless the context otherwise provides it shall not be necessary that      Landlord demand the performance of this Lease by Tenant.      
                                      (b)      Any rule of law or equity to the contrary notwithstanding, time shall be      construed to be of the essence hereof wherever any act hereunder is      required to be done at a certain time or within a prescribed period of      time.      
                                      (c)      This Lease and any exhibits or memoranda attached hereto set forth all the      promises, agreements, conditions and understandings, either oral or      written, between the Landlord and Tenant.      
                                      (d)      No subsequent alteration, amendment, change or addition to this Lease      shall be binding upon Landlord or Tenant unless reduced to writing and      executed by Landlord and Tenant.      
------------------------------------------------------------------------------------------------------------------------                                     (e)      The marginal headings preceding the text of the several sections and      subsections hereby are inserted solely for the convenience of reference      and shall not constitute a part of this Lease nor shall they affect its      meaning, construction or effect.      
                                      (f)      If, in any respect, any provision of this Lease, in whole or in part,      shall prove to be invalid for any reason, such invalidity shall only      effect the part of such provision which shall be invalid and in all other      respects this Lease shall stand as if such invalid provision had not been      made, and it shall fail to the extent, and only to the extent, of such      invalid provision, and no other portion or provision of this Lease shall      be invalidated, impaired or effected thereby.      
                                      (g)      Landlord and Tenant shall cooperate with each other to the extent      necessary to permit either, under and subject to the terms of the Lease,      to carry out any obligation or take any authorized action in the name of      the other.      
                                      (h)      Unless the context otherwise requires, the term "rent" shall      mean and include the minimum monthly rent and all additional rent and      other charges for recovery of which Landlord shall have the remedies      provided in this Lease for nonpayment of minimum rent.      
                                      (i)      Whenever in this Lease, nouns or pronouns are used in the masculine, they      shall be read and construed in the feminine or neuter whenever they would      so apply, and wherever in this Lease, words, including pronouns, are used      in the singular or plural, they shall be read and construed in the plural      or singular, respectively, wherever they would so apply.      
-----------------------------------------------------------------------------------------------------------------------**                    19.10          Waiver.**      No waiver or failure to complain of any act or omission by either party of      any of the terms, covenants, provisions, and conditions required by this      Lease, and no waiver of any legal or equitable relief or remedy shall be      implied by the failure of either party to assert any of its rights, or to      declare any forfeiture or for any other reason, and no waiver of any of      said terms, provisions, and covenants shall be valid unless it shall be in      writing signed by both parties hereto.      
 **                    19.11          Governing      Law.** This Lease shall be governed by the laws (without reference      to choice of law rules) of the Commonwealth of Massachusetts.      
 **                    19.12          Guaranty.**      This Lease is guaranteed by that certain written Guaranty of even date and      executed by Ventures-National, Inc. in favor of Landlord as security for      the performance of all obligations by Tenant under this Lease. Tenant      acknowledges that both the Lease and the Guaranty constitute collateral      under two certain Collateral Assignments of Leases and Rents by Tenant to      Eastern Bank each dated May 13, 1999, and recorded with the Essex South      District Registry of Deeds in Book 15671, Page 539 and Book 15671, Page      568, respectively.      
 **                    19.13          Covenants**.      Each party's covenants and duties set forth in this Lease shall be deemed      independent of the others, and enforceable in accordance with their terms,      the failure of the other to perform or observe its duties and covenants      notwithstanding.      
 
**SECTION TWENTY**

 
OPTION TO PURCHASE

 **                    20.1          **      Tenant has the option to purchase the demised premises (the      "Option") upon the terms and condition set forth below:      
----------------------------------------------------------------------------------------------------------------------                                      (a)     The      Option is exercisable by written notice (in accordance with section 13.1      of this Lease) given by Tenant to Landlord (the "Exercise      Notice") and the closing shall occur on a date and at a time set      forth in the Exercise Notice (the "Closing"), provided that      Tenant is not then in default under this Lease. The Closing shall be no      sooner fifteen (15) days or later than thirty (30) days after the date of      the Exercise Notice, but in no event later than June 30, 2004, unless      extended as provided in 20.1(d) below. The Closing shall occur at the      Essex South District Registry of Deeds.      
                                       (b)      The purchase price for the demised premises shall be $2,000,000 plus the      balance due (but not to exceed $190,000) to SBA re loan (#1450643009) to      EMC and secured by Doane assets.      
                                       (c)      If the Option is exercised, the demised premises shall be conveyed by a      good and sufficient deed in appropriate form running from Landlord to      Tenant at the Closing (the "Deed"). The Deed will convey good      and clear record and marketable title to the demised premises subject only      to (i) provisions of existing building and zoning laws, (ii) real estate      taxes for the then current fiscal year as are not due and payable on the      date of the delivery of the Deed, (iii) any liens for municipal      betterments assessed after the date of the Exercise Notice, and (iv)      easements, restrictions and reservations of record, if any, so long as the      same do not prohibit or materially interfere with the current use of the      demised premises. Tenant shall pay for and provide its own title      certificate and owner's and lender's title insurance policies, if any.      Tenant shall also pay the recording costs associated with the recording of      the Deed and for any documents not required to be paid for by Landlord.      Landlord shall pay for the tax stamps and the recording costs of any      instrument necessary to be recorded in order to comply with the title      provisions of this paragraph. The purchase price shall be paid at the      closing in cash, or by bank cashier's check payable to Landlord or by wire      transfer to Landlord' s account. All real estates taxes, water and sewer      charges, minimum and additional rent and fuel costs and all other charges      due under the Lease shall be paid by Tenant prior to the Closing.      
----------------------------------------------------------------------------------------------------------------------                                      (d)      Full possession of the demised premises, except for Tenant, is to be      delivered at the Closing. If Landlord shall be unable to give title or to      make conveyance, or to deliver possession of the demised premises, all as      herein provided, or if at the Closing the demised premises do not conform      with the provisions hereof, then Landlord shall use reasonable efforts to      remove any defects in title, or to deliver possession as provided herein,      or to make the demised premises conform to the provisions hereof, as the      case may be, in which event Landlord shall give written notice thereof to      Tenant at or before the Closing, and thereupon the time for performance      shall be extended for a period of thirty (30) days, but in no event later      than July 30, 2004, provided that Landlord is not obligated to spend more      than $1,000.00 to remove defects in title or make the demised premises      conform. If at the expiration of the extended time, Landlord shall have      failed to so remove any defects in title, deliver possession, or make the      demised premises conform, then Tenant may terminate its exercise of the      Option. Tenant shall have the election, at either the original or any      extended time for performance, to accept such title as Landlord can      deliver to the demised premises in their then condition and to pay      therefore the purchase price without reduction, in which case Landlord      shall convey such title.      
-----------------------------------------------------------------------------------------------------------------------                                      (e)      Notwithstanding any provision of this Lease to the contrary, if any damage      occurs to the demised premises from any cause whatsoever after the date of      the Exercise Notice and prior to the Closing, Tenant shall fulfill its      obligation to purchase the demised premises without a reduction in the      purchase price.      
                                       (f)      To enable Landlord to make conveyance as herein provided, Landlord may, at      the Closing, use the purchase money or any portion thereof to clear the      title of any encumbrances or interests, provided that all instruments so      procured are recorded within a reasonable amount of time after delivery of      the Deed.      
                                       (g)      If Tenant terminates its exercise of the Option for any reason, or if the      Option shall lapse for any reason, then the term of this Lease shall      promptly terminate.      
 
**SECTION TWENTY ONE**

 
RIGHT OF FIRST REFUSAL

                     In      consideration of this Lease of the demised premises, Landlord hereby      grants to the said Tenant a Right of First Refusal in the event that      Landlord decides to sell the premises during the term of this Lease.      Landlord agrees that, if it decides to sell said premises, it will provide      Tenant with written notice of the proposed sale together with a copy of an      executed Purchase and Sale Agreement executed by Landlord and the proposed      buyer, setting forth the terms of the proposed sale and further setting      forth the fact that said proposed sale is specifically subject to the      exercise by Tenant of its Right of First Refusal.      
                      Upon      receipt of the written documentation described above, Tenant shall have      seven (7) days in which to send written notice of its decision to exercise      its right to purchase the premises and, if it decides to do so then it      shall have an additional twenty-one (21) days in which to close on the      purchase of the premises.      
                      Tenant      understands that this Right of First Refusal will not be recorded at the      Registry of Deeds at any time. It is specifically intended that this Right      of First Refusal be limited to Tenant only and not extend to its      successors or assigns.      
                     All      notices required to be given or delivered by either party shall be      completed in accordance with section 13.1 of this Lease.      
                     IN      WITNESS WHEREOF, the respective parties hereto have caused these presents      to be signed and sealed in duplicate on the day and year first above      written.      
                                                                                                        Landlord:      
                                                                                                       /s/      Howard J. Doane, Jr.                                                                                                             Howard      J. Doane, Jr.                                                                                                             Trustee      of HD Realty Trust

 

                                                                                                        Tenant

                                                                                                         TITAN      PCB EAST, INC.

                                                                                                              /s/ Kenneth L.      Shirley                                                                                                                  By:      Kenneth L. Shirley                                                                                                        Its:      President and CEO

 
**EXHIBIT A**

Legal Description of Property

 

Parcel I - One Industrial Way:

The land in Amesbury, being shown as Lot 9A on a plan entitled      "Plan of Land in Amesbury, Mass., County of Essex, for Amesbury      Industrial Foundation Incorporated, Scale 1" = 40', August 2,      1983", said plan being recorded in the Essex South District Registry      of Deeds and said lot being more particularly bounded and described as      follows:

Beginning at a point on Monroe Street and at land, now or formerly of      Leslie Peake; thence running along Monroe Street and Industrial Way on an      arc with a radius of25 feet for a distance of 39.73 feet to a drill hole;      thence running along Industrial Way on an arc with a radius of 507.67 feet      for a distance of 144.43 feet to a drill hole; thence running

          SOUTH 19(degrees)      4' 35" East along Industrial Way 268.00 feet to a drill hole at Lot      9B as shown on said plan; thence turning and running

          SOUTH 70(degrees)      55' 25" West along Lot 9B, 190.14 feet to a drill hole at land now or      formerly of Raymond E. and Paulette Doucette; thence turning and running

          NORTH 6(degrees)      21' 35" West along land now or formerly of Doucette 54.72 feet to a      drill hole; thence turning and running

          SOUTH 82(degrees)      51' 10" West along land now or formerly of Doucette 55 feet to a      drill hole at land now or formerly of June Ross; thence turning and      running

          NORTH 23(degrees)      17' 25" West along land now or formerly of June Ross 94.50 feet to a      drill hole; thence turning and running

          SOUTH 88(degrees)      46' 50" East along land now or formerly of Donald and Nancy Guarente      25 feet to a drill hole; thence turning and running

          NORTH 8(degrees)      5' 15" East along land now or formerly of Guarente 100 feet to a      drill hole; thence turning and running

-----------------------------------------------------------------------------------------------------------------------

          NORTH 51(degrees)      57' 15" East along land now or formerly of Leslie Peake 145 feet to a      drill hole; thence running

          NORTH 53(degrees)      01' 35" East along land now or formerly of Peake 25 feet to a drill      hole; thence turning and running

          NORTH 36(degrees)      58' 25" West along land now or formerly of Peake 140 feet to the      point and place of beginning.

          Lot 9A      contains 57,033 square feet more or less, according to said plan

 

Parcel II -Two Industrial Way

(a) A certain parcel of land on the Easterly side of Industrial Way and      the Southerly side of Monroe Street in Amesbury, Essex County,      Massachusetts, being shown as Lot 1 on a plan entitled "Subdivision      Plan, Amesbury Industrial Park in Amesbury, Massachusetts, prepared for      Amesbury Industrial Foundation, Incorporated, Amesbury, Massachusetts,      Scale 1" = 100', August 31, 1981, Revised October 6, 1981, Davis,      Benoit and Tessier, Inc." Said plan being recorded in Essex South      District Registry of Deeds Plan Book 170, Plan 34.

          Beginning      at a point on the Southerly side of Monroe Street and land now or formerly      of LeBlanc; thence running

          SOUTH 42(degrees)      13' 14" East along said land of LeBlanc, 111.69 feet to a point;      thence turning and running

          NORTH 48(degrees)      17' 35" East along said LeBlanc Land, 74.00 feet to a point at land      now or formerly of Philip D. White; thence turning and running

          SOUTH 42(degrees)      47' 10" East along land now or formerly of Philip D. White, 186.18      feet to a drill hole; thence running

          SOUTH 45(degrees)      02' 15" East along land now or formerly of Cargocaire Engineering      Corp., 21.82 feet to a drill hole; thence running

          SOUTH 42(degrees)      50' 55" East along land now or formerly of Cargocaire Engineering      Corp., 168.41 feet to a point at Lot 2 as shown on said plan; thence      turning and running

          SOUTH 70(degrees)      55' 25" West along said Lot 2,332.32 feet to a point on the Easterly      side of Industrial Way; thence turning and running

          NORTH 19(degrees)      04' 35" West along the Easterly side of Industrial Way, 209.00 feet      to a stone bound; thence running on a curve with a radius of 567.67 feet      along the Easterly side of Industrial Way for a distance of 161.50 feet to      a stone bound; thence running on a curve with a 

-----------------------------------------------------------------------------------------------------------------------

radius of 25.00 feet along the Easterly side of Industrial      Way and the Southerly side of Monroe Street for a distance of 39.73 feet      to a stone bound; thence running on a curve with a radius of

3,000 feet along the Southerly side of Monroe Street for a      distance of 75.67 feet to the point and place of beginning.

          Said      lot contains 2.168 acres, more or less, according to said plan

          The      granted premises are also shown as Lot 1 on a plan entitled      "Subdivision Plan, Amesbury Industrial Park in Amesbury, Mass.,      Prepared for Industrial Foundations:, dated May 28, 1979, Rev. August,      1979, by Davis, Benoit & Tessier, Inc., H. Tracy Davis, Reg. Land      Surveyor, recorded with Essex South District Registry of Deeds in Plan      Book 160, Plan 46, and re-recorded in Plan Book 163, Plan 88

 

(b) The land in said Amesbury, Essex County,      Massachusetts, being Lot 2 on Subdivision Plan of Amesbury Industrial      Park, dated May 28,1979 (Rev. Aug. 1979) recorded with Essex South      Registry of Deeds in Plan Book 160, Plan 46, and re-recorded in Plan Book      163, Plan 88

          Containing      2.478 acres, according to said plan
**EXHIBIT B**

The tenant, Titan PCB East, Inc. ("Titan"), would like to      propose the following terms to Eastern Bank ("Eastern") of a      5-year lease:

For the fiscal quarter March 2004  - May 2004 - $18,000/mth with no      taxes/water/sewer amortization since we have paid our taxes thru June 30,      2004.

For the fiscal quarter June 2004 - August 2004 - $26,000/mth which      would include $7,500/month towards taxes/water/sewer).

For the fiscal quarter September 2004 - November 2004 - $26,500/mth      which would include $7,500/month towards taxes/water/sewer).

For the fiscal quarter December 2004 - February 2005 - $27,000/mth      which would include $7,500/month towards taxes/water/sewer).

For the fiscal quarter March 2005 - May 2005 - $27,500/mth which      would include $7,500/month towards taxes/water/sewer)

For the fiscal quarter June 2005 - August 2005 - $28,000/mth which      would include $7,500/month towards taxes/water/sewer).

For the fiscal quarter September 2005 - November 2005 - $28,500/mth      which would include $7,500/month towards taxes/water/sewer).

For the fiscal quarter December 2005 - February 2006 - $29,000/mth      which would include $7,500/month towards taxes/water/sewer).

For the fiscal quarter March 2006 - May 2006 - $29,500/mth which      would include $7,500/month towards taxes/water/sewer).

For the fiscal quarter June 2006 - August 2006 - $30,000/mth which      would include $7,500/month towards taxes/water/sewer).

For the fiscal quarter September 2006 - November 2007 - $30,500/mth      which would include $7,500/month towards taxes/water/sewer).

For the fiscal quarter December 2007 - February 2008 - $31,000/mth      which would include $7,500/month towards taxes/water/sewer).

For the fiscal quarter March 2008 - May 2008 - $31,500/mth which      would include $7,500/month towards taxes/water/sewer).

For the fiscal quarter June 2008 - August 2008 - $32,000/mth which      would include $7,500/month towards taxes/water/sewer).

For the fiscal quarter September 2008 - November 2008 - $32,500/mth      which would include $7,500/month towards taxes/water/sewer).

For the fiscal quarter December 2008 - March 2009 - $32,500/mth which      would include $7,500/month towards taxes/water/sewer).

 
**EXHIBIT C**

 

INVENTORY OF HAZARDOUS MATERIALS**** |
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