Document:

Exhibit
10.10

 

THIS AGREEMENT,
entered into this 30th day of April, 2002, is made by and between Youngstown
Properties, LLC., P.O. Box 128, Floyds Knobs, Indiana 47119, hereinafter
referred to as “Lessor”, and Heartland Payment Systems, a Delaware corporation,
having its offices located at 343 West Bagley, Suite 400, Berea, Ohio 44017,
hereinafter referred to as “Lessee”.

 

PREMISES, TERMS OF LEASE AND RENT

 

WITNESSETH: that
in consideration of the rents and covenants specified herein, the Lessor agrees
to lease the following described premises:

 

	
  Address

  	
   

  	
  Square
  Footage

  	
   

  	
  Use

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1431 1⁄2 Youngstown Shopping Center,

  	
   

  	
  4,000

  	
   

  	
  warehouse

  
	
  1433 
  Youngstown Shopping Center,

  	
   

  	
  3,750

  	
   

  	
  office

  

 

Hereinafter
referred to as the “Premises” for a term of seven (7) years beginning the first
day of May, 2002 and ending the 30th day of April, 2009, and in consideration
thereof Lessee agrees to pay Lessor the sum of $4,646.00 per month (hereinafter
referred to as the “Base Rent”) plus $645.00 per month for Lessee’s pro-rata share
of real estate taxes, common area maintenance, and insurance paid by Lessor
(hereinafter referred to as the “Expense Payments”), the first payment being
due on the first day of May, 2002.

 

USE OF PREMISES

 

The premises shall
be used as professional offices, warehousing, and other uses directly relating
to Lessee’s normal business and for no other purpose except with the written
consent of the Lessor.

 

Lessee shall, at
Lessee’s expense, comply promptly with all applicable statutes, ordinances,
rules, regulations, orders, and requirements in effect during the term or any
part of the term hereof regulating the use by Lessee of the premises. Lessee
shall not use or permit the use of the Premises in any manner that will tend to
create waste or a nuisance or, if there shall be more than one tenant of the
building containing the premises, which shall tend to disturb such other
tenants.

 

Lessee hereby
accepts the Premises on their condition existing as of the date of the
execution hereof and accepts this lease subject thereto and to all matters
disclosed thereby and by any exhibits attached hereto. Lessee acknowledges that
neither Lessor nor Lessor’s agents have made any representation or warranty as
to the suitability of the Premises for the conduct of Lessee’s business.

 

ASSIGNMENT AND SUBLETTING
RIGHTS

 

Lessee may not
assign this lease or sublet any part of the premises without the written
consent of the Lessor. The Lessor shall not unreasonably withhold such consent.

 

 

LESSEE’S REPAIR AND
MAINTENANCE RESPONSIBILITIES

 

Lessee, at
Lessee’s expense, shall keep, in good order, condition, and repair the demised
premises and every part thereof, including but not limited to, all plumbing,
electrical, heating and cooling equipment, ventilation equipment, interiors
walls, ceilings, windows, doors, plate glass, and signs that are located within
or adjacent to the demised premises during the term of this lease.

 

If Lessee fails to
perform Lessee’s obligations for maintenance, repairs, and general upkeep,
Lessor may at Lessee’s expense put the same in good order, condition, and
repair, and the costs thereof together with interest thereon at the rate of 18%
per annum shall be due and payable as additional rent to Lessor together with
Lessee’s next rental installment. Lessor shall be obligated to give ten (10)
days notice in writing prior to engaging in the abovementioned repairs.

 

Lessee shall not,
without the written consent of Lessor, make any alterations, improvements, or
additions to or about the premises. It is hereby acknowledged that as a
condition for such future consent all alterations, improvements, and additions
shall become the property of the Lessor.

 

INSURANCE PROVISIONS

 

Lessee shall, at
Lessee’s expense, obtain and keep in force during the term of this lease a policy
of comprehensive public liability insurance insuring Lessor and Lessee against
any liability arising out of the ownership, use, or occupancy or maintenance of
the premises and all areas appurtenant thereof.  Such insurance shall be in an amount not less than one million
dollars ($1,000,000.00) for injury or death of one person in any one accident
or occurrence and in an amount of not less than one million dollars
($1,000,000.00) for injury to or death of more than one person in any one
accident or occurrence. Such insurance shall further insure Lessor and Lessee
against liability for property damage of at least five hundred thousand dollars
($500,000.00). The Limits of said insurance shall not, however, limit the
liability of Lessee hereunder. In the event that the premises constitute a part
of a larger property said insurance shall have a Lessor’s Protective Liability
endorsement attached thereto. If Lessee shall fail to procure and maintain said
insurance, Lessor may, but shall not be required to, procure and maintain the
same but at Lessee’s expense.

 

Insurance required
herein shall be in companies rated AAA or better in Best’s Insurance Guide.
Both Lessor and Lessee shall be required to deliver copies of all said
policies, within a reasonable time period, to the other parties of this lease.

 

UTILITIES

 

Lessee shall pay
for all water, sewage, gas heat, light, power, telephone, and other utilities
and services supplied to the premises, together with any taxes thereon. If any
such services are not metered separately to Lessee, Lessee shall pay a
reasonable proportion to be determined by Lessor of all charges jointly metered
with other premises.

 

2

 

DAMAGE AND DESTRUCTION

 

In the event of
total destruction of premises this lease shall automatically terminate.

 

If the premises
are partially destroyed during the term of this lease, the rents payable
hereunder are to be abated in proportion to which Lessee’s use of premises is
impaired. Lessor shall assure such damages will be corrected in a timely and
reasonable manner.

 

DEFAULTS AND REMEDIES

 

DEFAULTS: The
occurrence of any one or more of the following events shall constitute a
material default and breach of this lease by Lessee:

 

(a)                                  The
vacating or abandonment of the premises by Lessee, where such abandonment
continues for fifteen (15) days.

 

(b)                                 The
failure by Lessee to make any payment of rent or other payment required to be
made by Lessee hereunder, within ten (10) days of due date; Lessee hereby
waives statutory notice of default for non-payment of rent.

 

(c)                                  The
failure by Lessee to observe or perform any of the covenants, conditions, or
provisions of this lease to be observed or performed by Lessee, other than
described in the paragraph (b) above, where such failure shall continue for a
period of thirty (30) days after written notice hereof from Lessor to Lessee;
provided, however, that if the nature of the Lessee’s default is such that more
than thirty (30) days are reasonably required for its cure, then Lessee has
commenced such cure within said thirty (30) days period and thereafter
diligently prosecutes such cure to completion.

 

(d)                                 (1)
The making by Lessee of any general assignment, or general arrangement for the
benefit of creditors; (2) the filing by or against Lessee of a petition to have
Lessee adjudged a bankrupt or a petition for reorganization or arrangement
under any law relating to bankruptcy (unless, in the case of a petition filed
against Lessee, the same is dismissed within sixty (60) days); (3) the
appointment of a trustee or receiver to take possession of substantially all of
Lessee’s assets located at the premises or of Lessee’s interest in this lease,
where possession is not restored to Lessee within thirty (30) days; or (4) the
attachment, execution, or other judicial seizure of substantially all of
Lessees assets located at the premises or of Lessee’s interest in his lease,
where such seizure is to be discharged within thirty (30) days.

 

REMEDIES: In the
event of any such material default or breach by Lessee, Lessor may at any time
thereafter, with proper notice and demand and without limiting Lessor in the
exercise of any right or remedy which Lessor may have by reason of such default
or breach:

 

(a)                                  Terminate
Lessee’s right to possession of the premises by any lawful means, in which case
this lease shall terminate and Lessee shall immediately surrender possession of
the premises to Lessor. In such event Lessor shall by reason of Lessee’s
default be entitled to recover from Lessee all damages incurred by Lessor
including, but not limited to the cost of recovering possession of the
premises, expenses of reletting, including necessary repairs, reasonable
attorney’s fee, and rents lost during the interim time period between default
and reletting. Unpaid

 

3

 

installments of rent or
other sums due Lessor shall bear interest from the date due at the rate of 18%
per annum

 

(b)                                 Pursue
any other remedy now or hereafter available to Lessor under the laws or
judicial decisions of the State of Indiana.

 

GENERAL PROVISIONS

 

Expense Payments.
Lessee shall pay to Lessor, along with Base Rent installments, $645.00 per
month which shall represent the Lessee’s share of real estate taxes, common
area maintenance, and insurance expenses, as contained in “Premises, Terms of
Lease and Rent” section of this Lease.

 

Lessor’s
Liability: The term Lessor as used herein shall mean only the owner or owners
at the time in question of the Lessee’s interest in this Lease. Lessor herein
named (and in case of any subsequent transfers the then grantor) upon transfer
of title of said premises, shall be relieved from all obligations as Lessor
thereafter.

 

Severability: The
invalidity of any provision of this lease as determined by a court of competent
jurisdiction shall in no way affect the validity of any other provision hereof.

 

Interest on Past
Due Obligations: Interest on any amount due Lessor which is in arrears shall
bear interest at the rate of 18% per annum. Payment of such interest shall not
excuse or cure any default by Lessee under this lease.

 

Binding Effect:
Subject to any restrictions of assignments or subletting by Lessee, this lease
shall bind the parties, their personal representatives, successors, and
assigns. This lease shall be governed by the laws of the State of Indiana.

 

Attorney’s Fees:
If Lessor or Lessee brings action to enforce the terms herein or declare rights
hereunder, and prevails, he shall be entitled to recover his reasonable
attorney’s fees to be paid by the losing party as fixed by the court.

 

Lessor’s Access:
Lessor and Lessor’s agents shall have the right to enter the premises under
supervision of Lessee and Lessee’s agents during normal business hours, or
mutually agreeable times, for the purpose of inspection.

 

Signs: Subject to
Lessor’s requirements Tenant shall, at its own cost and expense, install an
identification sign that has first been approved by Landlord in writing at a
place or places designated by Landlord. Tenant shall continuously maintain any
such sign in good condition and repair. Other than such permitted signs, Tenant
shall not place or install or suffer to be placed or installed any advertising
medium, flag, banner, or the like upon or outside the Premises or the Shopping
Center. No sign, advertising matter, shade or other item of any kind may be
installed in or upon the Premises without written permission from Landlord
where the intent or result is that such installation be clearly visible from
the Common Areas of the Shopping Center. Landlord reserves the right to deny
any such permission when, in its sole and final judgment, such item is not in
keeping with the overall quality image of the Shopping Center. Landlord shall
have the right, without liability and with or without notice to Tenant, to
remove any items installed by

 

4

 

Tenant in violation of
this Paragraph and to charge Tenant for the reasonable cost of such removal
and/or any repairs necessitated thereby.

 

Late Payments:
Rental payments not received by Lessor within ten (10) days of the due date
shall be subject to a late payment penalty of five (5) percent of the payment
due.

 

ADDITIONAL PREMISES

 

Right of First
Refusal: Lessee shall have the right of first refusal to lease additional
premises located at 1429 Youngstown Shopping Center (formerly leased to Pizza
Hut) containing approximately 2,375 square feet, and 1431 Youngstown Shopping
Center (currently leased to Hallmark Cards) containing approximately 3,825
square feet. Lessor shall, prior to signing any lease, rental agreement, or
other arrangement encumbering these premises, offer them to Lessee under the
same conditions offered to any other party. Lessor shall make such offer to
Lessee in writing, and Lessee shall have thirty (30) days in which to enter
into a lease agreement equal to those offered to third parties.

 

CONTIGUOUS PREMISES

 

Lessee and Lessor
agree to modify the term of this Lease to terminate with, and only with, the
date of termination of a certain lease entered into by Lessee and Youngstown
Partners, LP on the 30th day of April, 2002 for premises located at 1437 and
1443 Youngstown Shopping Center, Jeffersonville, Indiana.

 

EMINENT DOMAIN

 

In the event of
reductions in building dimensions so imposed by governing bodies having
jurisdiction over zoning and building laws, rules, and regulations, demised
premises may be reduced in any amount not to exceed ten (10) percent. In such
event, rents shall be reduced in the same proportion as size reductions imposed
thereby. In the event that such reduction is greater than ten (10) percent,
Lessee may, at its option, void this agreement.

 

EMPLOYEE PARKING AREAS

 

Lessor shall
reasonably designate areas in which all tenants’ employees (including those of
Lessee) shall be required to park. Lessee’s failure to enforce this policy upon
its employees shall create a material default under which Lessee shall be
evicted with all rental payments called for during the terms of this lease
becoming due and payable.

 

LESSOR/LESSEE
INDEMNIFICATION

 

Lessee shall
indemnify and hold harmless Lessor from and against any and all claims arising
from Lessee’s use of the premises, or from the conduct of Lessee’s business or
from any activity, work, or things done, permitted, or suffered by Lessee in or
about the premises or elsewhere and shall further hold harness and indemnify
Lessor from and against any and all claims arising from breach, default, or
negligence of the Lessee. In the case of any action brought against Lessor by
reason of such claim, Lessee upon notice from Lessor shall defend the same at
Lessee’s expense. Lessee hereby agrees that Lessor shall not be liable for
injury to

 

5

 

Lessee’s business or any
loss of income therefrom or for damage to the goods, wares, or any other person
in or about the premises. Lessor, during the term hereof, shall indemnify and
save harmless Lessee from and against all claims and demands, whether from
injury to persons or loss of life, or damage to property arising out of acts or
omissions of Lessor as defined in his lease.

 

LESSEE’S RIGHT TO QUIET
ENJOYMENT

 

As long as the
Lessee performs all of the covenants and conditions of this lease and abides by
the rules and regulations thereof, he shall have peaceful and quiet enjoyment
of the premises for the term of this lease.

 

LAWS, WASTE AND NUISANCE

 

Laws and
Regulations: Tenant agrees, at Tenant’s own cost and expense: (a) to comply
with all present and future governmental laws, ordinances, orders and regulations
concerning Tenant’s use of the Premises (including Tenant’s alterations and
additions thereto); (b) to comply with all present and future rules,
regulations and recommendations of the Board of Fire Underwriters, Landlord’s
insurance carriers and organizations establishing insurance rates concerning
Tenant’s use of the Premises (including Tenant’s alterations and additions
thereto); and (c) to comply with all restrictive covenants of record which
affect or are applicable to all Shopping Center and/or the Premises and/or the
Common Areas, provided, however, the same do not prohibit the Permitted Use of
the Premises.

 

Waste or Nuisance:
Tenant further agrees not to suffer, permit or commit any waste, nor to allow,
suffer or permit any odors, vapors, water, vibrations, noises or undesirable
effects to emanate from the Premises into other portions of the building of
which the Premises forms a part or into the Common Areas, or otherwise to
allow, suffer or permit the Premises or any use thereof to constitute a
nuisance or unreasonably to interfere with the safety, comfort, or enjoyment of
the Shopping Center by Landlord or by any other occupants of the Shopping
Center or their customers, invitees or any others lawfully in or upon the
Shopping Center.

 

TIME OF THE ESSENCE

 

Time shall be of
the essence in this lease.

 

SURRENDER OF PREMISES
UPON TERMINATION

 

The Lessee agrees
to quit and deliver up the premises at the end of the term of this lease. The
premises shall be in good repair and condition, as they are upon occupancy,
ordinary wear and tear accepted.

 

OPTION TO RENEW LEASE

 

Lessee shall have
the option to renew this Lease for one (1) additional term of seven (7) years
by notifying Lessor, in accordance with notice provisions contained herein,
ninety (90) days in advance of the scheduled expiration of this Lease. All
other terms and conditions of this Lease not specifically addressed herein
shall remain unchanged.

 

6

 

In the event
Lessee elects to exercise this option, the rental rates, including Expense
Payments, shall increase by an amount equal to the increase in the Consumer
Price Index, All Items, with May 2002 being used as the base year.

 

NOTICE PROVISIONS

 

Notices shall be
deemed properly delivered if sent by United States Mail, Certified with return
receipt requested. Such notices shall be sent to Lessor at P.O. Box 128, Floyds
Knobs, Indiana 47119 and to Lessee 343 West Bagley Road, Suite 400, Berea, OH
44017 or to other such addresses as required by parties hereto having given
proper notice.

 

IN WITNESS
WHEREOF, the Lessor and Lessee have executed this lease on this 30th day of
April, 2002.

 

 

	
  LESSOR:

  	
  LESSEE:

  
	
   

  	
   

  
	
  YOUNGSTOWN PROPERTIES
  INC.

  	
  HEARTLAND PAYMENT
  SYSTEMS, INC.

  
	
   

  	
   

  
	
  BY:

  	
  /s/ Jeffrey Agan

  	
   

  	
  BY:

  	
  /s/ Martin Uhle

  	
   

  
	
   

  	
  Jeffrey K. Agan,
  Managing Member

  	
   

  	
  Martin Uhle, Its
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  WITNESS

  	
  WITNESS

  
								

 

7Exhibit 10.11

 

THIS AGREEMENT, entered
into this 30th day of April, 2002, is made by and between Youngstown
Partners, L.P., P.O. Box 128, Floyds Knobs, Indiana 47119, hereinafter referred
to as “Lessor”, and Heartland Payment Systems, a Delaware corporation, having
its offices located at 343 West Bagley, Suite 400, Berea, Ohio 44017,
hereinafter referred to as “Lessee”.

 

PREMISES, TERMS OF LEASE AND RENT

 

WITNESSETH: that in consideration of the rents and
covenants specified herein, the Lessor agrees to lease the following described
premises:

 

	
  Address

  	
   

  	
  Square
  Footage

  	
   

  	
  Use

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1437 Youngstown
  Shopping Center,

  	
   

  	
  15,465

  	
   

  	
  office

  
	
  1443 Youngstown
  Shopping Center,

  	
   

  	
  2,400

  	
   

  	
  office

  

 

Hereinafter
referred to as the “Premises” for a term of seven (7) years beginning the first
day of May, 2002 and ending the 30th day of April, 2009, and in
consideration thereof Lessee agrees to pay Lessor the sum of $10,075.00 per
month (hereinafter referred to as the “Base Rent”) plus $1,490.00 per month for
Lessee's pro-rata share of real estate taxes, common area maintenance, and
insurance paid by Lessor (hereinafter referred to as the “Expense Payments”),
the first payment being due on the first day of May, 2002.

 

USE OF PREMISES

 

The premises shall be used as professional offices, warehousing,
and other uses directly relating to Lessee's normal business and for no other
purpose except with the written consent of the Lessor.

 

Lessee shall, at Lessee's expense, comply promptly
with all applicable statutes, ordinances, rules, regulations, orders, and
requirements in effect during the term or any part of the term hereof
regulating the use by Lessee of the premises. Lessee shall not use or permit
the use of the Premises in any manner that will tend to create waste or a
nuisance or, if there shall be more than one tenant of the building containing
the premises, which shall tend to disturb such other tenants.

 

Lessee hereby accepts the Premises on their condition
existing as of the date of the execution hereof and accepts this lease subject thereto
and to all matters disclosed thereby and by any exhibits attached hereto.
Lessee acknowledges that neither Lessor nor Lessor's agents have made any
representation or warranty as to the suitability of the Premises for the
conduct of Lessee's business.

 

ASSIGNMENT AND SUBLETTING RIGHTS

 

Lessee may not assign this lease or sublet any part of
the premises without the written consent of the Lessor. The Lessor shall not
unreasonably withhold such consent.

 

1

 

LESSEE'S REPAIR AND MAINTENANCE
RESPONSIBILITIES

 

Lessee, at Lessee's expense, shall keep in good order,
condition, and repair the demised premises and every part thereof, including
but not limited to, all plumbing, electrical, heating and cooling equipment,
ventilation equipment, interiors walls, ceilings, windows, doors, plate glass,
and signs that are located within or adjacent to the demised premises during
the term of this lease.

 

If Lessee fails to perform Lessee's obligations for
maintenance, repairs, and general upkeep, Lessor may at Lessee's expense put
the same in good order, condition, and repair, and the costs thereof together
with interest thereon at the rate of 18% per annum shall be due and payable as
additional rent to Lessor together with Lessee's next rental installment.
Lessor shall be obligated to give ten (10) days notice in writing prior to
engaging in the abovementioned repairs.

 

Lessee shall not, without the written consent of
Lessor, make any alterations, improvements, or additions to or about the
premises. It is hereby acknowledged that as a condition for such future consent
all alterations, improvements, and additions shall become the property of the
Lessor.

 

INSURANCE PROVISIONS

 

Lessee shall, at Lessee's expense, obtain and keep in
force during the term of this lease a policy of comprehensive public liability
insurance insuring Lessor and Lessee against any liability arising out of the
ownership, use, or occupancy or maintenance of the premises and all areas
appurtenant thereof. Such insurance shall be in an amount not less than one
million dollars ($1,000,000.00) for injury or death of one person in any one
accident or occurrence and in an amount of not less than one million dollars
($1,000,000.00) for injury to or death of more than one person in any one
accident or occurrence. Such insurance shall further insure Lessor and Lessee
against liability for property damage of at least five hundred thousand dollars
($500,000.00). The Limits of said insurance shall not, however, limit the
liability of Lessee hereunder. In the event that the premises constitute a part
of a larger property said insurance shall have a Lessor's Protective Liability
endorsement attached thereto. If Lessee shall fail to procure and maintain said
insurance, Lessor may, but shall not be required to, procure and maintain the
same but at Lessee's expense.

 

Insurance required herein shall be in companies rated
AAA or better in Best's Insurance Guide. Both Lessor and Lessee shall be
required to deliver copies of all said policies, within a reasonable time
period, to the other parties of this lease.

 

UTILITIES

 

Lessee shall pay for all water, sewage, gas heat,
light, power, telephone, and other utilities and services supplied to the
premises, together with any taxes thereon. If any such services are not metered
separately to Lessee, Lessee shall pay a reasonable proportion to be determined
by Lessor of all charges jointly metered with other premises.

 

2

 

DAMAGE AND DESTRUCTION

 

In the event of total destruction of premises this
lease shall automatically terminate.

 

If the premises are partially destroyed during the
term of this lease, the rents payable hereunder are to be abated in proportion
to which Lessee's use of premises is impaired. Lessor shall assure such damages
will be corrected in a timely and reasonable manner.

 

DEFAULTS AND REMEDIES

 

DEFAULTS: The occurrence of any one or more of the
following events shall constitute a material default and breach of this lease by
Lessee:

 

(a)           The
vacating or abandonment of the premises by Lessee, where such abandonment
continues for fifteen (15) days.

 

(b)           The
failure by Lessee to make any payment of rent or other payment required to be
made by Lessee hereunder, within ten (10) days of due date; Lessee hereby
waives statutory notice of default for non-payment of rent.

 

(c)           The
failure by Lessee to observe or perform any of the covenants, conditions, or
provisions of this lease to be observed or performed by Lessee, other than described
in the paragraph (b) above, where such failure shall continue for a period of
thirty (30) days after written notice hereof from Lessor to Lessee; provided,
however, that if the nature of the Lessee's default is such that more than
thirty (30) days are reasonably required for its cure, then Lessee has
commenced such cure within said thirty (30) days period and thereafter
diligently prosecutes such cure to completion.

 

(d)           (1)
The making by Lessee of any general assignment, or general arrangement for the
benefit of creditors; (2) the filing by or against Lessee of a petition to have
Lessee adjudged a bankrupt or a petition for reorganization or arrangement
under any law relating to bankruptcy (unless, in the case of a petition filed
against Lessee, the same is dismissed within sixty (60) days); (3) the
appointment of a trustee or receiver to take possession of substantially all of
Lessee's assets located at the premises or of Lessee's interest in this lease,
where possession is not restored to Lessee within thirty (30) days; or (4) the
attachment, execution, or other judicial seizure of substantially all of
Lessees assets located at the premises or of Lessee's interest in his lease,
where such seizure is to be discharged within thirty (30) days.

 

REMEDIES: In the event of any such material default or
breach by Lessee, Lessor may at any time thereafter, with proper notice and
demand and without limiting Lessor in the exercise of any right or remedy which
Lessor may have by reason of such default or breach:

 

(a)           Terminate
Lessee's right to possession of the premises by any lawful means, in which case
this lease shall terminate and Lessee shall immediately surrender possession of
the premises to Lessor. In such event Lessor shall by reason of Lessee's
default be entitled to recover from Lessee all damages incurred by Lessor
including, but not limited to the cost of recovering possession of the
premises, expenses of reletting, including necessary repairs, reasonable
attorney's fee, and rents lost during the interim time period between default
and

 

3

 

reletting. Unpaid installments of rent or other sums
due Lessor shall bear interest from the date due at the rate of 18% per annum.

 

(b)           Pursue
any other remedy now or hereafter available to Lessor under the laws or
judicial decisions of the State of Indiana.

 

GENERAL PROVISIONS

 

Expense Payments. Lessee shall pay to Lessor, along
with Base Rent installments, $1,490.00 per month which shall represent the
Lessee's share of real estate taxes, common area maintenance, and insurance
expenses, as contained in “Premises, Terms of Lease and Rent” section of this
Lease.

 

Lessor's Liability: The term Lessor as used herein
shall mean only the owner or owners at the time in question of the Lessee's
interest in this Lease. Lessor herein named (and in case of any subsequent
transfers the then grantor) upon transfer of title of said premises, shall be
relieved from all obligations as Lessor thereafter.

 

Severability: The invalidity of any provision of this
lease as determined by a court of competent jurisdiction shall in no way affect
the validity of any other provision hereof.

 

Interest on Past Due Obligations: Interest on any
amount due Lessor which is in arrears shall bear interest at the rate of 18%
per annum. Payment of such interest shall not excuse or cure any default by
Lessee under this lease.

 

Binding Effect: Subject to any restrictions of
assignments or subletting by Lessee, this lease shall bind the parties, their
personal representatives, successors, and assigns. This lease shall be governed
by the laws of the State of Indiana.

 

Attorney's Fees: If Lessor or Lessee brings action to
enforce the terms herein or declare rights hereunder, and prevails, he shall be
entitled to recover his reasonable attorney's fees to be paid by the losing
party as fixed by the court.

 

Lessor's Access: Lessor and Lessor's agents shall have
the right to enter the premises under supervision of Lessee and Lessee's agents
during normal business hours, or mutually agreeable times, for the purpose of
inspection.

 

Signs: Subject to Lessor's requirements Tenant shall,
at its own cost and expense, install an identification sign that has first been
approved by Landlord in writing at a place or places designated by Landlord.
Tenant shall continuously maintain any such sign in good condition and repair.
Other than such permitted signs, Tenant shall not place or install or suffer to
be placed or installed any advertising medium, flag, banner, or the like upon or
outside the Premises or the Shopping Center. No sign, advertising matter, shade
or other item of any kind may be installed in or upon the Premises without
written permission from Landlord where the intent or result is that such
installation be clearly visible from the Common Areas of the Shopping Center.
Landlord reserves the right to deny any such permission when, in its sole and
final judgment, such item is not in keeping with the overall quality image of
the Shopping Center. Landlord shall have the right, without liability and with
or without notice to Tenant, to remove any items installed by

 

4

 

Tenant in violation of this Paragraph and to charge
Tenant for the reasonable cost of such removal and/or any repairs necessitated
thereby.

 

Late Payments: Rental payments not received by Lessor
within ten (10) days of the due date shall be subject to a late payment penalty
of five (5) percent of the payment due.

 

ADDITIONAL PREMISES

 

Right of First Refusal: Lessee shall have the right of
first refusal to lease additional premises located at 1441 Youngstown Shopping
Center (currently used as a leasing and management office) containing
approximately 2,400 square feet, 1455 Youngstown Shopping Center (currently
vacant) containing approximately 11,100 square feet, and vacant ground located
between 1443 and 1455 Youngstown Shopping Center. Lessor shall, prior to
signing any lease, rental agreement, or other arrangement encumbering these
premises, offer them to Lessee under the same conditions offered to any other
party. Lessor shall make such offer to Lessee in writing, and Lessee shall have
thirty (30) days in which to enter into a lease agreement equal to those
offered to third parties.

 

Lessee's Obligation to Lease Additional Premises: In
the event that premises located at 1439 Youngstown Shopping Center, containing
approximately 6,440 square feet (currently leased to Sherwin Williams) become
vacant, Lessee agrees to lease those premises for the sum of $4,290.00 per month
in additional Base Rent, plus $537.00 per month in additional Expense Payments
for the duration of this Lease, including options. Lessor shall deliver these
premises to Lessee in “vanilla shell” condition. Such vanilla shell condition
shall include basic electric service, a finished ceiling including lighting,
finished restrooms meeting both employee requirements and those necessary to
comply with the Americans With Disabilities Act. In the event that the premises
located at 1439 Youngstown Shopping Center do not become vacant by September 1,
2005, then Lessee shall have until December 1, 2005 to notify Lessor that it
wishes to alter the ending date of this Lease to the end of the then current
month, in which case Lessee would be considered a month-to-month holdover
tenant from that date forward.

 

Lessee's Right to Substitute Premises: In the event
that Lessee, as a party to a certain lease executed simultaneously with this
Lease between it and Youngstown Properties LLC, elects to lease or exercise its
right of first refusal on premises located at 1431 Youngstown Shopping Center
(hereinafter referred to as “Substituted Premises”), then Lessee may vacate the
Premises located at 1443 Youngstown Shopping Center by giving Lessor notice
ninety days in advance of its leasing of the Substituted Premises for a base
rent of $8.50 per square foot on an annual basis, plus Estimate Expense
Payments of $315.00 per month..

 

EMINENT DOMAIN

 

In the event of reductions in building dimensions so
imposed by governing bodies having jurisdiction over zoning and building laws,
rules, and regulations, demised premises may be reduced in any amount not to
exceed ten (10) percent. In such event, rents shall be reduced in the same
proportion as size reductions imposed thereby. In the event that such reduction
is greater than ten (10) percent, Lessee may, at its option, void this
agreement.

 

5

 

EMPLOYEE PARKING AREAS

 

Lessor shall reasonably designate areas in which all
tenants' employees (including those of Lessee) shall be required to park.
Lessee's failure to enforce this policy upon its employees shall create a
material default under which Lessee shall be evicted with all rental payments
called for during the terms of this lease becoming due and payable.

 

LESSOR/LESSEE INDEMNIFICATION

 

Lessee shall indemnify and hold harmless Lessor from
and against any and all claims arising from Lessee's use of the premises, or
from the conduct of Lessee's business or from any activity, work, or things done,
permitted, or suffered by Lessee in or about the premises or elsewhere and
shall further hold harmless and indemnify Lessor from and against any and all
claims arising from breach, default, or negligence of the Lessee. In the case
of any action brought against Lessor by reason of such claim, Lessee upon
notice from Lessor shall defend the same at Lessee's expense. Lessee hereby
agrees that Lessor shall not be liable for injury to Lessee's business or any
loss of income therefrom or for damage to the goods, wares, or any other person
in or about the premises. Lessor, during the term hereof, shall indemnify and
save harmless Lessee from and against all claims and demands, whether from
injury to persons or loss of life, or damage to property arising out of acts or
omissions of Lessor as defined in his lease.

 

LESSEE'S RIGHT TO QUIET ENJOYMENT

 

As long as the Lessee performs all of the covenants
and conditions of this lease and abides by the rules and regulations thereof,
he shall have peaceful and quiet enjoyment of the premises for the term of this
lease.

 

LAWS, WASTE AND NUISANCE

 

Laws and Regulations: Tenant agrees, at Tenant's own
cost and expense: (a) to comply with all present and future governmental laws,
ordinances, orders and regulations concerning Tenant's use of the Premises
(including Tenant's alterations and additions thereto); (b) to comply with all
present and future rules, regulations and recommendations of the Board of Fire
Underwriters, Landlord's insurance carriers and organizations establishing
insurance rates concerning Tenant's use of the Premises (including Tenant's
alterations and additions thereto); and (c) to comply with all restrictive
covenants of record which affect or are applicable to all Shopping Center
and/or the Premises and/or the Common Areas, provided, however, the same do not
prohibit the Permitted Use of the Premises.

 

Waste or Nuisance: Tenant further agrees not to
suffer, permit or commit any waste, nor to allow, suffer or permit any odors,
vapors, water, vibrations, noises or undesirable effects to emanate from the
Premises into other portions of the building of which the Premises forms a part
or into the Common Areas, or otherwise to allow, suffer or permit the Premises
or any use thereof to constitute a nuisance or unreasonably to interfere with
the safety, comfort, or enjoyment of the Shopping Center by Landlord or by any
other occupants of the Shopping Center or their customers, invitees or any
others lawfully in or upon the Shopping Center.

 

6

 

TIME OF THE ESSENCE

 

Time shall be of the essence in this lease.

 

SURRENDER OF PREMISES UPON
TERMINATION

 

The Lessee agrees to quit and deliver up the premises
at the end of the term of this lease. The premises shall be in good repair and
condition, as they are upon occupancy, ordinary wear and tear accepted.

 

OPTION TO RENEW LEASE

 

Lessee shall have the option to renew this Lease for
one (1) additional term of seven (7) years by notifying Lessor, in accordance
with notice provisions contained herein, ninety (90) days in advance of the
scheduled expiration of this Lease. All other terms and conditions of this
Lease not specifically addressed herein shall remain unchanged.

 

In the event Lessee elects to exercise this option,
the rental rates, including Expense Payments, shall increase by an amount equal
to the increase in the Consumer Price Index, All Items, with May 2002 being
used as the base year.

 

NOTICE PROVISIONS

 

Notices shall be deemed properly delivered if sent by
United States Mail, Certified with return receipt requested. Such notices shall
be sent to Lessor at P.O. Box 128, Floyds Knobs, Indiana 47119 and to Lessee
343 West Bagley Road, Suite 400, Berea, OH 44017 or to other such addresses as
required by parties hereto having given proper notice.

 

IN WITNESS WHEREOF, the
Lessor and Lessee have executed this lease on this 30th day of
April, 2002.

 

 

	
  LESSOR:

  	
  LESSEE:

  
	
  YOUNGSTOWN PROPERTIES, LLC

  	
  HEARTLAND PAYMENT SYSTEMS, INC

  
	
   

  	
   

  
	
   

  	
   

  
	
  BY:

  	
  /s/ Jeffrey K. Agan

  	
   

  	
  BY:

  	
  /s/ Martin Uhle

  	
   

  
	
   

  	
  Jeffrey K. Agan, Managing Member

  	
   

  	
   

  	
  Martin Uhle, Its President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  WITNESS

  	
  WITNESS

  
							

 

7

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