Document:

<PAGE>

                                                                    EXHIBIT 10.1
                           [LETTERHEAD APPEARS HERE]

September 16, 1999

Mr. Scott Matukas
Community Networks
45-18 Court Square
Long Island City, NY 11101

RE:  Suite 403
     45-18 Court Square, Long Island City

Dear Scott:

Per your request I am pleased to offer you a short term lease for the above
referenced space.  Below please find the changes to the existing lease which
will be terminating as of September 30, 1999:

1.   The rental term shall commence October 1, 1999 and expire March 31, 2000.

2.   Paragraph 40 will be deleted and replaced with the following terms:
     A.   Possession shall be deemed delivered as of October 1, 1999.
     B.   Left Blank Intentionally.
     C.   The minimum rent per month shall be Seven thousand five hundred
          eighty-two dollars and ($7,582.42) forty-two cents.
     D.   Shall be eliminated in its entirety.
     E.   Shall remain the same as the original lease.
     F.   The rent shall be $7,582.42

3.   Paragraph 41 the security deposit and reference to same shall be $7,582.42,
     one full month's security.

4.   Paragraph 43 shall be eliminated in its entirety.

5.   Paragraph 44 electric usage.  Tenant shall pay for electric usage at same
     rate charged to Landlord by the utility company plus a five (5%) percent
     administrative fee.

6.   Paragraph 63 shall be changed to read no broker.  Community Networks shall
     indemnify Landlord from any and all broker claims other than Aegis Realty.

7.   Paragraph 92 shall be deleted in its entirety.

8.   Paragraph 99 is modified indicating that the initial entry access cards
     have already been supplied to Tenant.
<PAGE>

September 16, 1999
Mr. Scott Matukas
Community Networks
Page 2

RE:  Suite 403
     45-18 Court Square, Long Island City

9.   Paragraph 101 is deleted in its entirety.

10.  Paragraph 104 is modified to read the first month's rent in the amount of
     $7,582.42 and one month's security in the amount of $7,582.42.

If the above offer is acceptable to you, pleas sign both copies of this letter
and return one original to my offices together with the checks for the first
month's rent and one month security as soon as possible.

Upon its signing, this letter shall act as a short term lease, as modified
above, with all terms and conditions of the original lease dated May 27, 1998
together with the Rider to Lease attached hereto.

If you have any questions, please do not hesitate to contact me.

Very truly yours,

Alan Zaretsky                      Agreed to:
45-18 COURT SQUARE LLC

kk
                                   _____________________________
Via Fax (718-706-9575)             Scott Matukas            Dated
     and Regular Mail              Community Networks
<PAGE>

                         STANDARD FORM OF OFFICE LEASE
                    The Real Estate Board of New York, Inc.

AGREEMENT OF LEASE, made as of this 27th day of May 1998, between 45-18 Court
Square, LLC having an office at 60 Morrow Ave., Scarsdale, New York 10583 party
of the first part, hereinafter referred to as OWNER, and Coaxicom, Inc. (dba
Community Telephone) party of the second part, hereinafter referred to as
TENANT, WITNESSETH: Owner hereby leases to Tenant and Tenant hereby hires from
Owner approximately 4,594 square feet on the fourth floor as per the attached
plan designated Suite 403 in the building known as 45-18 Court Square in the
Borough of Queens, City of New York, for the term of three (3) years (or until
such term shall sooner cease and expire as hereinafter provided) to commence on
the 1st day of August nineteen hundred and ninety-eight, and to end on the 31st
day of July 2001 both dates inclusive, at an annual rental rate of.

See Rider annexed, Article 40.

which Tenant agrees to pay in lawful money of the United States which shall be
legal tender in payment of all debts and dues, public and private, at the time
of payment, in equal monthly installments in advance on the first day of each
month during said term, at the office of Owner or such other place as Owner may
designate, without any set off or deduction whatsoever, except that Tenant shall
pay the first      monthly installment(s) on the execution hereof (unless this
lease be a renewal).

     In the event that, at the commencement of the term of this lease, or
thereafter, Tenant shall be in default in the payment of rent to Owner pursuant
to the terms of another lease with Owner or with Owner's predecessor in
interest, Owner may at Owner's option and without notice to Tenant add the
amount of such arrears to any monthly installment of rent payable hereunder and
the same shall be payable to Owner as additional rent.

     The parties hereto, for themselves, their heirs, distributes, executors,
administrators, legal representatives, successors and assigns, hereby covenant
as follows:

Rent       1.  Tenant shall pay the rent as above and as hereinafter provided.
Occupancy  2.  Tenant shall use and occupy demised premises for general offices
               and for no other purpose.
<PAGE>

Tenant Alterations: 3.  Tenant shall make no changes in or to the demised
premises of any nature without Owner's prior written consent. Subject to the
prior written consent of Owner, and to the provisions of this article, Tenant at
Tenant's expense, may make alterations, installations, additions or improvements
which are non-structural and which do not affect utility services or plumbing
and electrical line, in or on the interior of the demised premises by using
contractors or mechanics first approved by the Owner. Tenant shall, before
making any alterations, additions, installations or improvements, at its
expense, obtain all permits, approvals and certificates required by any
governmental or quasi-governmental bodies and (upon completion) certificates of
final approval thereof and shall deliver promptly duplicates of all such
permits, approvals and certificates to Owner and Tenant agrees to carry and will
cause Tenant's contractors and sub contractors to carry such workman's
compensation, general liability, personal and property damage insurance as Owner
may require. If any mechanic's lien is filed against the demised premises, or
the building of which the same forms a part, for work claimed to have been done
for, or materials furnished to, Tenant, whether or not done pursuant to this
article, the same shall be discharged by Tenant within thirty days thereafter,
at Tenant's expense, by filing the bond required by law. All fixtures and all
paneling, partitions, railings and like installations, installed in the premises
at any time, either by Tenant or by Owner in Tenant's behalf, shall, upon
installation, become the property of Owner and shall remain upon and be
surrendered with the demised premises unless Owner, by notice to Tenant no later
than twenty days prior to the date fixed as the termination of this lease,
elects to relinquish Owner's right thereto and to have them removed by Tenant no
later than twenty days prior to the date fixed as the termination of this lease,
elects to relinquish Owner's rights thereto and to have them removed by Tenant,
in which event the same shall be removed from the premises by Tenant prior to
the expiration of the lease, at Tenant's expense. Nothing in this Article shall
be construed to give Owner title to or to prevent Tenant's removal of trade
fixtures, moveable office furniture and equipment, but upon removal of any such
from the premises or upon removal of other installations as may be required by
Owner, Tenant shall immediately and at its expense, repair and restore the
premises to the condition existing prior to installation and repair any damage
to the demised premises or the building due to such removal. All property
permitted or required to be removed, by Tenant at the end of the term remaining
in the premises after Tenant's removal shall be deemed abandoned and may, at the
election of Owner, either be retained as Owner's property or may be removed from
the premises by Owner, at Tenant's expense.

Maintenance and Repairs: 4.  Tenant shall, throughout the term of this lease,
take good care of the demised premises and fixtures and appurtenances therein.
Tenant shall be responsible for all damage or injury to the demised premises or
any other part of the building and the systems and equipment thereof, whether
requiring structural or nonstructural repairs caused by or resulting from
carelessness, omissions, neglect or improper conduct of Tenant, Tenant's
subtenants, agents, employees, invitees or licensees, or which arise out of any
work, labor, service or equipment done for or supplied to Tenant or any
subtenant or
<PAGE>

arising out of the installation, use or operation of the property or equipment
of Tenant or any subtenant. Tenant shall also repair all damage to the building
and the demised premises caused by the moving of Tenant's fixtures, furniture
and equipment. Tenant shall promptly make, at Tenant's expense, all repairs in
and to the demised premises for which Tenant is responsible, using only the
contractor for the trade or trades in question, selected from a list of at least
two contractors per trade submitted by Owner. Any other repairs in or to the
building or the facilities and systems thereof for which Tenant is responsible
shall be performed by Owner at the Tenant's expense. Owner shall maintain in
good working order and repair the exterior and the structural portions of the
building, including the structural portions of its demised premises, and the
public portions of the building interior and the building plumbing, electrical,
heating and ventilating systems (to the extent such systems presently exist)
serving the demised premises. Tenant agrees to give prompt notice of any
defective condition in the premises for which Owner may be responsible
hereunder. There shall be no allowance to Tenant for diminution of rental value
and no liability on the part of Owner by reason of inconvenience, annoyance or
injury to business arising from Owner or others making repairs, alterations,
additions or improvements in or to any portion of the building or demised
premises or in and to the fixtures, appurtenances or equipment thereof. It is
specifically agreed that Tenant shall not be entitled to any set off or
reduction of rent by reason of any failure of Owner to comply with the covenants
of this or any other article of this Lease. Tenant agrees that Tenant's sole
remedy at law in such instance will be by way of an action for damages for
breach of contract. The provisions of this Article 4 shall not apply in the case
of fire or other casualty which are dealt with in Article 9 hereof.

Window Cleaning: 5.  Tenant will not clean nor require, permit, suffer or allow
any window in the demised premises to be cleaned from the outside in violation
of Section 202 of the Labor Law or any other applicable law or of the Rules of
the Board of Standards and Appeals, or of any other Board or body having or
asserting jurisdiction.

Requirements of Law, Fire Insurance, Floor Loads: 6.  Prior to the commencement
of the lease term, if Tenant is then in possession, and at all times,
thereafter, Tenant, at Tenant's sole cost and expense, shall promptly comply
with all present and future laws, orders and regulations of all state, federal,
municipal and local governments, departments, commissions and boards and any
direction of any public officer pursuant to law, and all orders, rules and
regulations of the New York Board of Fire Underwriters, Insurance Services
Office, or any similar body which shall impose any violation, order or duty upon
Owner or Tenant with respect to the demised premises, whether or not arising out
of Tenant's use or manner of use thereof, (including Tenant's permitted use) or,
with respect to the building if arising out of Tenant's__________________[text
cut off]) the use permitted under the lease). Nothing herein shall require
Tenant to make structural repairs or alterations unless Tenant has, by its
manner of use of the demised premises or method of operation therein, violated
any such laws, ordinances, orders, rules, regulations or requirements
<PAGE>

with respect thereto. Tenant may, after securing Owners to Owner's satisfaction
against all damages, interest, penalties and expenses, including, but not
limited to, reasonable attorney's fees, by cash deposit or by surety bond in an
amount and in a company satisfactory to Owner, contest and appeal any such laws,
ordinances, orders, rules, regulations or requirements provided same is done
with all reasonable promptness and provided such appeal shall not subject Owner
to prosecution for a criminal offense or constitute a default under any lease or
mortgage under which Owner may be obligated, or cause the demised premises or
any part thereof to be condemned or vacated. Tenant shall not do or permit any
act or thing to be done in or to the demised premises which is contrary to law,
or which will invalidate or be in conflict with public liability, fire or other
policies of insurance at any time carried by or for the benefit of Owner with
respect to the demised premises or the building of which the demised premises
form a part, or which shall or might subject Owner to any liability or
responsibility to any person or for property damage. Tenant shall not keep
anything in the demised premises except as now or hereafter permitted by the
Fire Department, Board of Fire Underwriters, Fire Institute Rating Organization
or other authority having jurisdiction, and then only in such manner and such
quantity so as to increase the rate for fire insurance applicable to the
building, nor use the premises in a manner which will increase the insurance
rate for the building or any property located therein over that in effect prior
to the commencement of Tenant's occupancy. Tenant shall pay all costs, expenses,
fines, penalties, or damages, which may be imposed upon Owner by reason of
Tenant's failure to comply with the provisions of this article and if by
reason of such failure the fire insurance rate shall, at the beginning of this
lease, or at any time thereafter, be higher than it otherwise would be, then
Tenant shall reimburse Owner, as additional rent hereunder, for that portion of
al fire insurance premiums thereafter paid by Owner which shall have been
charged because of such failure by Tenant. In any action or proceeding wherein
Owner and Tenant are parties, a schedule or "make up" of rate for the building
or demised premises issued by the New York Fire Insurance Exchange, or other
body making fire insurance rates applicable to said premises shall be conclusive
evidence of the facts therein stated and of the several items and charges in the
fire insurance rates than applicable to said premises shall be conclusive
evidence of the facts therein ste and of the several items and charge in the
fire insurance rates then applicable to said premises. Tenant shall not place a
load upon any floor of the demised premises exceeding the floor load per square
foot area which it was designed to carry and which is allowed by law. Owner
reserves the right to prescribe the weight and position of all safes, business
machines and mechanical equipment. Such installation shall be placed and
maintained by Tenant, at Tenant's expense, in settings sufficient, in Owner's
judgement, to absorb and prevent vibration, noise and annoyance.

Subordination: 7.  This lease is subject and subordinate to all ground or
underlying leases and to all mortgages which may now or hereafter affect such
leases on the real property of which demised premises are a part and to all
renewals, modifications, consolidations, replacements and extensions of any such
underlying leases and mortgages.  This clause shall be self operative and no
further instrument of
<PAGE>

subordination shall be required by any ground or underlying lessor or by any
mortgage, affecting any lease on the real property of which the demised premises
are a part by confirmation of such subordination. Tenant shall execute promptly
any certificate that Owner may request.

Property Loss, Damage, Reimbursement, Indemnity: 8.  Owner or its agents shall
not be liable for  any damage to property of Tenant or of others entrusted to
employees of the building, nor for loss of or damage to any property of Tenant
by theft or otherwise, nor for any injury or damage to persons or property
resulting from any cause of whatsoever nature, unless caused by or due to the
negligence of Owner, its agents, servants or employees. Owner or its agents will
not be liable for any such damage caused by other tenants or persons in, upon or
about said building or caused by operations in construction of any private,
pubic or quasi public work. If at any time any windows of the demised premises
are temporarily closed, darkened or bricked up (or permanently closed, darkened
or bricked up, if required by law) for any reason whatsoever including, but not
limited to Owner's own rate, owner shall not be liable for any damage Tenant may
sustain thereby and Tenant shall not be entitled to any compensation therefor
nor abatement or diminution of rent nor shall the same release Tenant from its
obligations hereunder nor constitute an eviction. Tenant shall indemnify and
save harmless Owner against and from all liabilities, obligations, damages,
penalties, claims, costs and expenses for which Owner shall not be reimbursed by
insurance, including reasonable attorneys fees, paid, suffered or incurred as a
result of any breach by Tenant, Tenant's agents, contractors, employees,
invitees, or licensees, of any covenant or condition of this lease or the
carelessness, negligence or improper conduct of the Tenant, Tenant's agents,
contractors, employees, invitees or licensees. Tenant's liability under this
lease extends to the acts and omissions of any sub tenant, and any agent,
contractor, employee, invitee or licensee of any sub tenant. In case any action
or proceeding is brought against Owner by reason of any such claim, Tenant, upon
written notice from Owner, will, at Tenant's expense, resist or defend such
action on proceeding by counsel approved by Owner in writing, such approval not
to be unreasonably withheld.

Destruction, Fire and Other Casualty: 9.  (a) If the demised premises or any
part thereof shall be damaged by fire or other casualty, Tenant shall give
immediate notice thereof to Owner and this lease shall continue in full force
and effect except as hereinafter set forth (b) If the demised premises are
partially damaged or rendered partially unusable by fire or other casualty, the
damages thereto shall be repaired by and at the expense of Owner and the rent,
until such repair shall be substantially completed, shall be appointed from the
day following the casualty according to the part of the premises which is
usable. (c) If the demised premises are totally damaged or rendered wholly
unusable by fire or other casualty, then the sent shall be proportionately paid
up to the time of the casualty and thenceforth shall cease until the date when
the premises shall have been repaired and restored by Owner, subject to Owner's
right to elect not to restore the same as hereinafter provided. (d) if the
demised premises are rendered wholly
<PAGE>

unusable or (whether or not the demised premises are damaged in whole or in
part) if the building shall be so damaged that Owner shall decide to demolish it
or to rebuild it, then, in any of such events, Owner may elect to terminate this
lease by written notice to Tenant, given within 90 days after such fire or
casualty, specifying a date for the expiration of the lease, which date shall
not be more than 60 days after the giving of such notice, and upon the date
specified in such notice the term of this lease shall expire as fully and
completely as if such date were the date set forth above for the termination of
this lease and Tenant shall forthwith quit, surrender and vacate the premises
without prejudice however, to Landlord's rights and remedies against Tenant
under the lease provisions in effect prior to such termination, and any rent
owing shall be paid up to such date and any payments of rent made by Tenant
which were on account of any period subsequent to such date shall be returned to
Tenant. Unless Owner shall serve a termination notice as provided for herein,
Owner shall make the repairs and restorations under the conditions of (b) and
(c) hereof, with all reasonable expedition, subject to delays due to adjustment
of insurance claims, labor troubles and causes beyond Owner's control. After any
such casualty, Tenant shall cooperate with Owner's restoration by removing from
the premises as promptly as reasonably possible, all of Tenant's salvageable
inventory and movable equipment, furniture, and other property. Tenant's
liability for rent shall resume five (5) days after written notice from Owner
that the premises are substantially ready for Tenant's occupancy. (e) Nothing
contained hereinabove shall relieve Tenant from liability that may exist as a
result of damage from fire or other casualty. Notwithstanding the foregoing,
each party shall look first to any insurance in its favor before making any
claim against the other party for recovery for loss or damage resulting from
fire or other casualty, and to the extent that such insurance is in force and
collectible and to the extent right of recovery against the other or any one
claiming through or under each of them by way of subrogation or otherwise. The
foregoing release and waiver shall be in forced only if both releasors'
insurance policies contain a clause providing that such a release or waiver
shall not invalidate the insurance. If, and to the extent, that such waiver can
be obtained only by the payment of additional premiums, then the party
benefiting from the waivers shall pay such premium within ten days after written
demand or shall be deemed to have agreed that the party obtaining insurance
coverage shall be free of any further obligation under the provisions hereof
with respect to waiver of subrogation. Tenant acknowledges that Owner will not
carry insurance on Tenant's furniture and/or furnishings or any fixtures or
equipment, improvements, or appurtenances removable by Tenant and agrees that
Owner will not be obligated to repair any damage thereto or replace the same (f)
Tenant hereby waives the provisions of section 227 of the Real Property Law and
agrees that the provisions of this article shall govern and control in lieu
thereof.

Eminent Domain: 10.  If the whole or any part of the demised premises shall be
acquired or condemned by Eminent Domain for any public or quasi public use or
purpose, then and in that event, the term of this lease shall cease and
terminate from the date of title vesting in such proceeding and Tenant shall
have no claim for the value of any unexpired term of said lease and assigns
<PAGE>

to Owner, Tenant's entire interest in any such award.

Assignment, Mortgage, Etc.: 11.  Tenant, for itself, its heirs, distributee,
executors, administrators, legal representatives, successors and assigns,
expressly covenants that it shall not assign, mortgage or encumber this
agreement, nor underlet, or suffer or permit the demised premises or any part
thereof to be used by others, without the prior written consent of Owner in each
instance. Transfer of the majority of the stock of a corporate Tenant shall be
deemed an assignment. If this lease be assigned, or if the demised premises or
any part thereof be underlet or occupied by anybody other than Tenant, Owner
may, after default by Tenant, collect rent from the assignee, under-tenant or
occupant, and apply the net amount collected to the rent herein reserved, but no
such assignment, underletting, occupancy or collection shall be deemed a wavier
of this covenant, or the acceptance of the assignee, under tenant or occupant as
tenant, or a release of Tenant from the further performance by Tenant of
covenant's on the part of Tenant herein contained. The consent by Owner to an
assignment or underletting shall not in any wise be construed to relieve Tenant
from obtaining the express consent in writing of Owners to any further
assignment or underletting.

Electric Current: 12.  Rates and conditions in respect to submetering or rent
inclusion, as the case may be, to be added in RIDER attached hereto. Tenant
covenants and agrees that at all times its use of electric current shall not
exceed the capacity of existing feeders to the building or the risers or wiring
installation and Tenant may not use any electrical equipment which, in Owner's
opinion, reasonably exercised, will overload such installations or interfere
with the use thereof by other tenants of the building. The change at any time of
the character of electric service shall in no wise make Owner liable or
responsible to Tenant, for any loss, damages or expenses which Tenant may
sustain.

Access to Premises: 13.  Owner or Owner's agents shall have the right (but shall
not be obligated) to enter the demised premises in any emergency at any time,
and at other reasonable times, to examine the same and to make such repairs,
replacements and improvements as Owner may deem necessary and reasonably
desirable to the demised premises or to any other portion of the building or
which Owner may elect to perform. Tenant shall permit Owner to use and maintain
and replace pipes and conduits therein provided they are concealed within the
walls, floor, or ceiling. Owner may, during the progress of any work in the
demised premises, take all necessary materials and equipment into said premises
without the same constituting an eviction nor shall the Tenant be entitled to
any abatement of rent while such work is in progress nor to any damages by
reason of loss or interruption of business or otherwise. Throughout the terms
hereof Owner shall have the right to enter the demised premises at reasonable
hours for the purpose of showing the same to prospective purchasers or
mortgagees of the building, and using the last six months of the term for the
purpose of showing the same to prospective tenants. If Tenant is not present to
open and permit an entry into the premises, Owner or Owner's agents may enter
the same whenever such entry may be necessary or permissible by master key or
forcibly and provided reasonable care is exercised to

                                       7

<PAGE>

safeguard Tenant's property, such entry shall render Owner or its agents liable
therefore, nor in any event shall the obligations of Tenant hereunder been. If
during the last month of the term Tenant shall have removed all or substantially
all of Tenant's property therefrom Owner may immediately enter, alter, renovate
or redecorate the demised premises without limitation or abatement of rent, or
incurring liability to Tenant for any compensation and such acts shall have no
effect on this lease or Tenant's obligations hereunder.

Vault, Vault Space, Area: 14.  No Vaults, vault space or area, whether or not
enclosed or covered, not within the property line of the building is leased
hereunder, anything contained in or indicated on any sketch, blue print or plan,
or anything contained elsewhere in this lease to the contrary notwithstanding.
Owner makes no representation as to the location of the property line of the
building. All vaults and vault space and all such areas not within the property
line of the building, which Tenant may be permitted to use and/or occupy, is to
be used and/or occupied under a revocable license, and if any such license be
revoked, or if the amount of such space or areas be diminished or required by an
federal sate or municipal authority or public utility, Owner shall not be
subject to any liability nor shall Tenant be entitled to any compensation or
diminution or abatement of rent, nor shall such revocation, diminution or
requisition be deemed constructive on actual eviction. Any tax, fee or charge or
municipal authorities for such vault or area shall be paid by Tenant.

Occupancy: 15.  Tenant will not at any time use or occupy the demised premises
in violation of the certificate of occupancy issued for the building of which
the demised premises are a part. Tenant has inspected the premises and accepts
them as is, subject to the riders annexed hereto with respect to Owner's work,
if any. In any event, Tenant agrees to accept the same subject to violations,
whether or not of record.

Bankruptcy: 16.  (a) Anything elsewhere in this lease to the contrary
notwithstanding, this lease may be canceled by Owner by the sending of a written
notice to Tenant within a reasonable time after the happening of any one or more
of the following events: (1) the commencement of a case in bankruptcy or under
the laws of any state naming Tenant as the debtor; or (2) the making by Tenant
of an assignment or any other arrangement for the benefit of creditors under any
state statue. Neither Tenant nor any person claiming through or under Tenant, or
by reason of any statute or order of court, shall thereafter be entitled to
possession of the premises demised but shall forthwith quit and surrender the
premises. If this lease shall be assigned in accordance with its terms, the
provisions of this Article 16 shall be applicable to the party then owning
Tenant's interest in this lease.

          (b) it is stipulated and agreed that in the event of the termination
of this lease pursuant to (a) hereof, Owner shall forthwith, notwithstanding any
other provisions of this lease to the contrary, be entitled to recover from
Tenant as and for liquidated damages an amount equal to recover from Tenant as
and for liquidated damages an amount equal to the difference between the rent
reserved hereunder for the unexpired portion of term demised and the fair and
reasonable rents value of the demised premises for the same period.  In the
computation of such damages the

                                       8

<PAGE>

difference between any installment of rent becoming due hereunder after the date
of termination and the fair and reasonable rental value of the demised premises
for the period for which such installment was payable shall be discounted to the
date of termination at the rate of four percent (4%) per annum. If such premises
or any part thereof be relet by the Owner for the unexpired term of said lease,
or any part thereof, before presentation of proof of such liquidated damages to
any court, commission or tribunal, the amount of rent reserved upon such
reletting shall be deemed to be the fair and reasonable rental value for the
port or the whole or the premises so relet during the term of the reletting.
Nothing herein contained shall limit or prejudice the right of the Owner to
prove lot and obtain as liquidated damages by reason of such termination, an
amount equal to the maximum allowed by any statute or rule of law in effect at
the time when, and governing the proceedings in which, such damages are to be
proved, whether or not such amount be greater, equal to, or less than the amount
of the difference referred to above.

Default: 17.  (1) If Tenant defaults in fulfilling any of the covenants of
this lease other than the covenants for the payment of rent or additional rent;
or if the demised premises become vacant or deserted; or if any execution or
attachment shall be issued against Tenant or any of Tenant's property whereupon
the demised premises shall be taken or occupied by someone other than Tenant; or
if this lease be rejected under (S)215 of Title 11 of the U.S. Code (bankruptcy
code); or if Tenant shall fail to move into or take possession of the premises
within fifteen (15) days after the commencement of the term of this lease,
the,in any one or more of such events, upon Owner serving a written five (5)
days notice upon Tenant specifying the nature of said default and upon the
expiration of said five (5) days, if Tenant shall have failed to comply with or
remedy such default, or if the said default or omission complained of shall be
of a nature that the same cannot be completely cured or rendered within said
five (5) day period, and if Tenant shall not have diligently commenced during
such default within such five (5) day period, and shall not thereafter with
reasonable diligence and in good faith, proceed to remedy or cure such default,
then Owner may serve a written three (3) days notice of cancellation of this
lease upon Tenant, and upon the expiration of said three (3) days of this lease
and the term thereunder shall end and expire as fully and completely as if the
expiration of such three (3) day period were the day herein definitely fixed for
the end and expiration of this lease and the term thereof and Tenant shall then
quit and surrender the demised premises to Owner but Tenant shall remain liable
as hereinafter provided.

          (2) If the notice provided for in (1) hereof shall have been given,
and the term shall expire as aforesaid; or if Tenant shall make default in the
payment of the rent reserved herein or any item of additional rent herein
mentioned or any part of either or in making any other payment herein required;
then and in any of such events Owner may without notice, re-enter the demised
premises either by force or otherwise, and dispossess Tenant by summary
proceedings or otherwise, and the legal representative of Tenant by summary
proceedings or otherwise, and the legal representative of Tenant or other
occupant of demised premises and remove their effects and hold the premises as
if this lease

                                       9
<PAGE>

had not been made, and Tenant hereby waives the service of notice of intention
to re-enter or to institute legal proceedings to that end. If Tenant shall make
default hereunder prior to the date fixed as the commencement of any renewal or
extension of this lease, Owner may cancel and terminated such renewal or
extension agreement by written notice.

Remedies of Owner and Waiver of Redemption: 18.  In case of any such default,
re-entry, expiration and/or dispossess by summary proceedings or otherwise, (a)
the rent shall become due thereupon and be paid up to the time of such re-entry,
dispossess and/or expiration, (b) Owner may re-let the premises or any part or
parts thereof, either in the name of Owner or otherwise, for a term which may at
Owner's option be less than or exceed the period which would otherwise have
constituted the balance of the term of this lease and may grant concessions or
free rent or charge a higher rental than that in this lease, and/or (c) Tenant
or the legal representatives of Tenant shall also pay Owner as liquidated
damages for the failure of Tenant to observe and perform said Tenant's covenants
herein contained, any deficiency between the rent hereby reserved and/or
covenanted to be paid and the net amount, if any, of the rents collected on
account of the lease or leases of the demised premises for each month of the
period which would otherwise have constituted the balance of the term of this
lease. The failure of Owner to re-let the premises or any part or parts thereof
shall not release or affect Tenant's liability for damages. In computing such
liquidated damages there shall be added to the said deficiency such expenses as
Owner may incur in connection with the re-letting, such as legal expenses,
attorneys' fees, brokerage, advertising and for keeping the demised premises in
good order or for preparing the same for re-letting, such as legal expenses,
attorneys' fees, brokerage, advertising and for keeping the demised premises in
good order or for preparing the same for re-letting, Any such liquidated damages
shall be paid in monthly installments by tenant on the rent day specified in
this lease and any suit brought to collect the amount of the deficiency for any
month shall not prejudice in any way the rights of Owner to collect the
deficiency for any subsequent month by a similar proceeding. Owner, in putting
the demised premises in good order or preparing the same for re rental may, at
Owner's option, make such alterations, repairs, replacements, and/or decorations
shall not operate or be construed to release Tenant from liability hereunder as
aforesaid. Owner shall in no event be liable in any way whatsoever for failure
to re let, for failure to collect the rent thereof under such re letting, and in
no event shall Tenant be entitled to receive any excess, if any, of such net
rents collected over the sums payable by Tenant to Owner hereunder. In the event
of a breach or threatened breach by Tenant or any of the covenants or provisions
hereof, Owner shall have the right of injunction and the right to invoke any
remedy allowed at law or in equity as if re entry summary proceedings and other
remedies were not herein provided for. Mention in this lease of any particular
remed, shall not preclude Owner from any other remedy, in law or in equity.
Tenant hereby expressly waives any and all rights of redemption granted by or
under any present or future laws in the event of Tenant being evicted or
dispossessed for any cause, or in the event of Owner obtaining possession of
demised premises, by reason

                                      10
<PAGE>

of the violation by Tenant of any of the covenants and conditions of this lease,
or otherwise.

Fees and Expenses 19.  If Tenant shall default observance or performance of any
term or covenant on Tenant's part to be observed or performed under or by virtue
of any of the terms or provisions in any article of this lease, then, unless
otherwise provided, elsewhere in this lease, Owner may immediately or at any
time thereafter and without notice perform the obligation of Tenant thereunder.
If Owner, in connection with the foregoing or in connection with any default by
Tenant in the covenant to pay rent hereunder, makes any expenditures or incurs
any obligations for the payment of money including but not limited to attorney's
fees, in instituting, prosecuting or defending any action or proceeding, then
tenant will reimburse Owner for such sums so paid or obligations incurred with
interest and costs. The foregoing expenses incurred by reason of Tenant's
default shall be deemed to be additional rent hereunder and shall be paid by
Tenant to Owner within five (5) days of rendition of any bill or statement to
Tenant therefor. If Tenant's lease term shall have expired at the time of making
of such expenditures or incurring of such obligations, such sums shall be
recoverable by Owner as damages.

Building Alterations and Management: 20.  Owner shall have right at any time
without the same constituting an eviction and without incurring liability to
Tenant therefor to change the arrangement and/or location of public entrances,
passageways, doors, doorways, corridors, elevators, stairs, toilets or other
public parts of the building and to change the name, number or designation by
which the building may be known. There shall be no allowance to Tenant for
diminution of rental value and no liability on the part of Owner by reason of
inconvenience, annoyance or injury to business arising from Owner or other
Tenants making any repairs in the building or any such alterations, additions,
and improvements. Furthermore, Tenant shall not have any claim against Owner by
reason of Owner's imposition of such controls of the manner of access to the
building by Tenant's social or business visitors as the Owner may deem necessary
for the security of the building and its occupants.

No Representations by Owner: 21.  Neither Owner nor Owner's agents have made any
representations or promises with respect to the physical condition of the
building, the land upon which it is erected on the demised premises, the rents,
leases, expenses of operation or any other matter or thing affecting or related
to the premises expect as herein expressly set forth and no rights, easements or
licenses are acquired by the Tenant by implication or otherwise except as
expressly set forth in the provisions of this lease. Tenant has inspected the
building and the demised premises and is thoroughly acquainted with their
condition and agrees to take the same "as is" and acknowledges that the taking
of possession of the demised premises by Tenant shall be conclusive evidence
that the said premises and the building of which the same form a part were in
good and satisfactory condition at the time such possession was so taken, except
as to latent defects. All understandings and agreements heretofore made between
the parties hereto are merged in this contract, which alone fully and completely
expresses
<PAGE>

the agreement between Owner and Tenant and any executory agreement hereafter
made shall be ineffective to change, modify, discharge or effect an abandonment
of it in whole or in part, unless such executory agreement is in writing and
signed by the party against whom enforcement of the change, modification,
discharge or abandonment is sought.

End of Term: 22.  Upon the expiration of the term of this lease, Tenant shall
quit and surrender to Owner the demised premises, broom clean, in good order and
condition, ordinary wear and damages which Tenant is not required to repair as
provided elsewhere in this lease excepted, and Tenant shall remove all its
property. Tenant's obligation to observe or perform this covenant shall survive
the expiration or other termination of this lease. If the last day of the term
of this Lease or any renewal thereof, falls on Sunday, this lease shall expire
at noon on the preceding Saturday unless it be a legal holiday in which case it
shall expire at noon on the preceding business day.

Quiet Enjoyment: 23.  Owner covenants an agrees with Tenant that upon Tenant
paying the rent and additional rent and observing and performing all the terms,
covenants and conditions, on Tenant's part to be observed and performed, tenant
may peaceably and quietly enjoy the premises hereby demised, subject,
nevertheless, to the terms and conditions of this lease including, but not
limited to, Article 31 hereof and to the ground leases, underlying leases and
mortgages hereinbefore mentioned.

Failure to Give Possession: 24.  If Owner is unable to give possession of the
demised premises on the date of the commencement of the term hereof, because of
the holding over or retention of possession of any tenant, undertenant or
occupants or if the demised premises are located in a building being
constructed, because such building has not been sufficiently completed to make
the premises ready for occupancy or because of the fact that a certificate of
occupancy has not been procured or for any other reason, Owner shall not be
subject to any liability for failure to give possession on said date and the
validity of the lease shall not be impaired under such circumstances, nor shall
the same be construed in any wise to extend the term of this lease, but the rent
payable hereunder shall be abated (provided Tenant is not responsible for
Owner's inability to obtain possession) until after Owner shall have given
Tenant written notice that the premises are substantially ready for Tenant's
occupancy. If permission is given to Tenant to enter into the possession of the
demised premises or to occupy premises other than the demised premises prior to
the date specified as the commencement of the term of this lease, Tenant
covenants and agrees that such occupancy shall be deemed to be under all the
terms, covenants, conditions and provisions of this lease, except as to the
covenant to pay rent. The provisions of this article are intended to constitute
"an express provision to the contrary" within the meaning of Section 2.23 a of
the New York Real Property Law.

No Waiver: 25.  The failure of Owner to seek redress for violation of, or to
insist upon the strict performance of any covenant
<PAGE>

or condition of this lease or of any of the rules or Regulations, set forth or
hereafter adopted by Owner, shall not prevent a subsequent act which would have
originally constituted a violation from having all the force and effect of an
original violation. The receipt by Owner of rent with knowledge of the breach of
any covenant of this lease shall not be deemed a waiver of such breach and no
provision of this lease shall be deemed to have been waived by Owner unless such
waiver be in writing signed by Owner. No payment by Tenant or receipt by Owner
of a lesser amount than the monthly rent herein stipulated shall be deemed to be
other than on account of the earliest stipulated rent, nor shall any endorsement
or statement of any check or any letter accompanying any check or payment as
rent be deemed an accord and satisfaction, and Owner may accept such check or
payment without prejudice to Owner's right to recover the balance of such rent
or pursue any other remedy in this lease provided. No act or thing done by Owner
or Owner's agents during the term hereby demised shall be deemed an acceptance
of a surrender of said premises, and no agreement to accept such surrender shall
be valid unless in writing signed by Owner. No employee of Owner or Owner's
agent shall have any power to accept the keys of said premises prior to the
termination of the lease and the delivery of keys to any such agent or employee
shall not operate as a termination of the lease or a surrender of the premises.

Waiver of Trial by Jury: 26.  It is mutually agreed by and between Owner and
Tenant that the respective parties hereto shall and they hereby do waive trial
by jury in any action, proceeding on counterclaim brought by either of the
parties hereto against the other (except for personal injury or property damage)
on any matters whatsoever arising out of or in any way connected with this
lease, the relationship of Owner and Tenant, Tenant's use of or occupancy of
said premises, and any emergency statutory or any other statutory remedy. It is
further mutually agreed that in the event Owner commences any summary proceeding
for possession of the premises, Tenant will not interpose any counterclaim of
whatever nature or description in any such proceeding including a counterclaim
under Article 4.

Inability to Perform: 27.  This Lease and the obligation of Tenant to pay rent
hereunder and perform all of the other covenants and agreements hereunder on
part of Tenant to be performed shall in no way be affected, impaired or excused
because Owner is unable to fulfill any of its obligations under this lease or to
supply or is delayed in supplying any service expressly impliedly to be supplied
or is unable to make, or is delayed in making any repair, additions, alterations
or decorations or is unable to supply or is delayed in supplying any equipment
fixtures if Owner is prevented or delayed from so doing by reason of strike or
labor troubles or any cause whatsoever including, but not limited to, government
preemption in connection with a National Emergency or by reason of any rule,
order or regulation of any department or subdivision thereof of any government
agency or by reason of the conditions of supply and demand which have been or
are affected by war or other emergency.

Bills and Notices: 28.  Except as otherwise in this lease provided, a bill,
statement, notice or

                                      13
<PAGE>

communication which Owner may desire or be required to give to Tenant, shall be
deemed sufficiently given or rendered if, in writing, delivered to Tenant
personally or sent by registered or certified mail addressed to Tenant at the
building of which the demised premises from a part or at the last known
residence address or business address of Tenant or left at any of the
aforesaid premises addressed to Tenant, and the time of the rendition of such
bill or statement and of the giving of such notice or communication shall be
deemed to be the time when the same is delivered to Tenant, mailed, or left at
the premises as herein provided.  Any notice by Tenant to Owner must be served
by registered or certified mail addressed to Owner at the address first
hereinabove given or at such other address as Owner shall designate by written
notice.

Services Provided by Owners: 29.  As long as Tenant is not in default under any
of the covenants of this lease. Owner shall provide: (a) necessary elevator
facilities on business days from 8 a.m. to 6 p.m. and on Saturdays from 8 a.m.
to 1 p.m. an have one elevator subject to call at all other times; (b) heat to
the demised premises when and as required by law, on business days from 8 a.m.
to 6 p.m. and on Saturdays from 8 a.m. to 1 p.m.; (c) water for ordinary
lavatory purposes, but if Tenant uses or consumes water for any other purposes
or in unusual quantities (of which fact Owner shall be the sole judge), Owner
may install a water meter at Tenant's expense which tenant shall thereafter
maintain at Tenant's expense in good working order and repair to register such
water consumption and Tenant shall pay for water consumed as shown on said meter
as additional rent as and when bills are rendered; (d) cleaning service for the
demised premises on business days at Owner's expense provided that the same are
kept in order by Tenant. If, however, said premises are to be kept clean by
Tenant, it shall be done at Tenant's sole expense, in a manner satisfactory to
Owner and no one other than persons approved by Owner shall be permitted to
enter said premises or the building of which they are a part for such purpose.
Tenant shall pay Owner the cost of removal of any of Tenant's refuse and rubbish
from the building; (e) If the demised premises are serviced by Owner's air
conditioning/cooling and ventilating system, air conditioning/cooling will be
furnished to tenant from May 15th through September 30th on business days
(Mondays through Fridays, holidays excepted) from 8:00 a.m. to 6:00 p.m., and
ventilation will be furnished on business days during the aforesaid hours except
when air conditioning/cooling is being furnished as aforesaid. If tenant
requires air conditioning/cooling or ventilation for more extended hours or on
Saturdays, Sundays or on holidays, as defined under Owner's contract with
Operating Engineers Local 94-94A, Owner will furnish the same as Tenant's
expense. RIDER to be added in respect to rates and conditions for such
additional service:

(1) Owner reserves the right to stop services of the heating, elevators,
plumbing, air-conditioning, power systems or cleaning or other services, if any,
when necessary by reason of accident or for repairs, alterations, replacements
or improvements necessary or desirable in the judgment of Owner for as long as
may be reasonably required by reason thereof.  If the building of which the
demised premises are a part supplies manually-operated elevator service and upon
ten days' written notice to tenant, proceed with alterations necessary therefor

                                      14
<PAGE>

without in any wise affecting this lease or the obligation of Tenant hereunder.
The same shall be done with a minimum of inconvenience to Tenant and Owner shall
pursue the alteration with due diligence.

Captions: 30.  The Captions are inserted only as a matter of convenience and for
reference and in no way define, limit or describe the scope of this lease nor
the intent of any provisions thereof.

Definitions: 31.  The term "office", or "officers", wherever used in this lease,
shall not be construed to mean premises used as a store or stores, for the sale
or display, at any time, of goods, wares or merchandise, of any kind, or as a
restaurant, shop, booth, bootblack or other stand, barber shop, or for other
similar purposes or for manufacturing. The term "Owner" means a landlord or
lessor, and as used in this lease means only the owner, or the mortgagees in
possession, for the time being of the land and building (or the owner of a lease
of the building or of the land and building) of which the demised premises form
a part, so that in the event of any sale or sales of said land and building or
of said lease, or in the event of a lease of said building, or of the land and
building, the said Owner shall be and hereby is entirely freed and relieved of
all covenants and obligations of Owner hereunder, and it shall be deemed and
construed without further agreement between the parties or their successors in
interest, or between the parties an the purchaser, at any such sale, or the said
lessee of the building, or of the land and building, that the purchaser or the
lessee of the building has assumed and agreed to carry out any and all covenants
and obligations of Owner, hereunder. The words "re-enter" and "re-entry" as used
in this lease are not restricted to their technical legal meaning. The term
"business days" as used in this lease shall exclude Saturdays (except such
portion thereof as is covered by specific hours in Article 29 hereof), Sundays
and all days observed by the State or Federal Government as legal holidays and
those designated as holidays by the applicable building service union employees
service contract or by the applicable Operating Engineers contract with respect
to HVAC service.

                                      15<PAGE>

                                                                    EXHIBIT 10.2

                            RIDER ANNEXED TO LEASE
                            DATED OCTOBER 20, 1998
                                BY AND BETWEEN
                     45-18 COURT SQUARE, LIC, AS LANDLORD
                                      AND
          COAXICOM, INC. (DBA COMMUNITY TELEPHONE/COMMUNITY NETWORK),
                                   AS TENANT

Landlord is defined as 45-18 Court Square, LLC, its partners, and successors in
interest.

40.  Minimum Annual Rent
     -------------------

     A.   Possession of the Demised Premises shall be deemed to have been
          delivered upon delivery of keys by Landlord to Tenant at the address
          earlier set forth, the premises to be broom clean and January 1, 1999
          or upon substantial completion as hereinafter set forth (hereinafter
          the "Possession Delivery Date").  Tenant to take occupancy and pay
          rent as of December 15, 1998.  Please see paragraph 92.

     B.   Left Blank Intentionally.

     C.   Tenant covenants and agrees to pay to Landlord as Minimum Annual Rent
          on the first day of each month during the term hereof, the following
          sums:/1/

          (i)  Years 1 through 3 - one hundred forty-one thousand one hundred
               eighteen dollars ($141,118.00) and no cents payable in equal
               monthly installments of Eleven thousand seven hundred fifty-nine
               dollars and ($11,759.83) eighty-three cents per month.

     D.   Rent due for partial month(s) shall be prorated.

     E.   The above annual sum shall be paid in equal monthly installments, in
          advance, on the first day of each month during said term at the office
          of Owner or at such other place as Owner may designate, without offset
          or deduction whatsoever.

     F.   Tenant shall pay the first month's rent, in the sum of $11,759.83 upon
          the execution of this lease, the receipt of which is hereby
          acknowledged.  The payment of the first month's' rent will be applied
          to the first full month following expiration of the abatement period.

/1   To the extent the tenant is not delivered the space (possession) on or-
     before 2/15/98, the Landlord may grant 1 day free rent for every day
     possession is not delivered (fully completed) after 12/15/98.

                                       1
<PAGE>

41.  Security Deposit
     ----------------

     Simultaneous with entry into possession of the Demised Premises, Tenant
     shall deposit with Owner the sum of $23,519.66 as security for the faithful
     performance and observance by Tenant of the terms, provisions and
     conditions of this Lease.  It is agreed that in the event Tenant defaults
     in respect of any of the terms, provisions and conditions of this Lease,
     including, but not limited to, the payment of rent and additional rent,
     owner may use, apply or retain the whole or any part of the security so
     deposited to the extent required for the payment of any rent and additional
     rent or any other sum to which Tenant is in default or for any sum which
     Owner may expend or may be required by reason of Tenant's default in
     respect of any of the terms, covenants and conditions of this Lease,
     including but not limited to, any damages or deficiency in the re-letting
     of the premises, whether such damages or deficiency accrued before or after
     summary proceedings or other re-entry by Owner.  Within thirty (30) days
     after receipt of written notice that Owner has made application of all or
     any part of the said security deposit, Tenant shall deposit with Owner such
     additional funds as are necessary to restore the security deposit to its
     original amount.  In the event that Tenant shall fully and faithfully
     comply with all of the non-monetary terms, provisions, covenants and
     conditions of this Lease, the security not required to cure any monetary
     default or otherwise deducted as a result of the physical condition of the
     premises shall be returned to Tenant after the date fixed as the end of the
     Lease and after delivery of entire possession of the Demised Premises to
     Owner.  In the event of a sale of the land and building or leasing of the
     building, of which the Demised Premises form a part, Owner shall have the
     right to transfer the security to the vendee or lessee and Owner shall
     thereupon be released by Tenant from all liability for the return of such
     security, and Tenant agrees to look to the new Owner solely for the return
     of said security; and it is agreed that the provisions hereof shall apply
     to every transfer or assignment made of the security to a new Owner.
     Tenant further covenants that, other than in connection with a valid
     disposition of this Lease in compliance with the terms of Article 64
     hereof, it will not assign or encumber or attempt to assign or encumber the
     monies deposited herein as security and that neither Owner nor its
     successor or assigns shall be bound by any such assignment, encumbrance,
     attempted assignment or attempted encumbrance.

     Tenant shall, at all times, maintain a rent security deposit equal to two
     (2) month's rent.  On each base rent increase date, Owner shall invoice
     Tenant for, and Tenant shall deposit, such further sums with Owner as are
     necessary to satisfy this obligation.

42.  Restrictions on Use of the Demised Premises
     -------------------------------------------

     A.   Subject to the provisions of this Lease, Tenant shall use the Demised
          Premises only as offices in accordance with the Certificate of
          Occupancy and for no other purposes.

     B.   Tenant shall not use or permit the use of the Demised Premises or any
          part thereof in any way that would violate any of the covenants,
          agreements, terms, provisions and conditions of this Lease or for any
          unlawful purpose or in any unlawful manner

                                       2
<PAGE>

          or in violation of the Certificate of Occupancy for the Demised
          Premises or the Building, and Tenant shall not suffer or permit the
          Demised Premises or any part thereof to be used in any manner or for
          anything to be done therein or anything to be brought into or be kept
          therein that, in the judgment of Owner, shall in any way threaten to
          impair or adversely affect the character, reputation or appearance of
          the Building, the proper and economical operation of the Building or
          any systems, facilities or services used to operate or clean all or
          any part of the Building or the Demised Premises, or the use of any of
          the areas of the Building by Owner or any of the other Tenants or
          occupants of the Building. Tenant shall not install or use any
          equipment that, in the judgment of Landlord, could cause any adverse
          effect on the Demised Premises, the Building and/or the comfort and
          convenience of other Tenants and occupants of the Building.

43.  Landlord shall construct offices in accordance with layout drawn by
     _________; Tenant to provide sketch presented to the Milowitz Group on or
     before 10/30/98, in accordance with the attached sketch, all finishes to
     building standard and in accordance with Building Codes. Any
     additions/changes required by Tenant must be agreed to in writing by both
     parties and shall be Tenant's sole cost to be paid upon written agreement.

     [Document illegible                                          ]

     A.   Landlord shall supply and install carpet and base at Landlord's cost.
          Tenant shall have option of choosing carpet from Landlord's samples.

     B.   Left Blank Intentionally.

     C.   Any work performed by Tenant or Tenant's contractors shall be
          performed in a good and workmanlike manner and shall comply with all
          rules and regulations of all Governmental Authorities having
          jurisdiction therein.

          If Tenant is providing build-out of space or makes any alterations to
          the space, the following paragraphs apply:

     D.   Tenant, or any contractor or contractors employed by Tenant, or any
          other persons who will do work or install equipment for Tenant, shall
          be fully covered by Workmen's Compensation Insurance, and the
          Certificate by Tenant or any such contractor or persons as aforesaid.
          Tenant further covenants, at its own cost and expense, to take out and
          maintain at all times during the progress of such work and until
          completion thereof, public liability insurance policies covering Owner
          in compliance with the limits and such other conditions as set forth
          in Article 49 hereof, and certificates evidencing the policies shall
          be delivered to Owner prior to the commencement of any work hereunder.

                                       3
<PAGE>

     E.   Tenant's contracts with its contractors and/or other persons who will
          perform work for the Tenant shall require said persons to look solely
          to the Tenant for payment and will hold Owner and the Building free
          from all liens and claims of all persons furnishing labor or materials
          therefor.

     F.   Subject to the provisions of this Article, any and all machinery,
          equipment and fixtures installed by Tenant, which are not replacements
          of fixtures either furnished by Owner as part of Owner's work or pre-
          existing in the Demised Premises at the time of the commencement of
          this Lease (sometimes herein referred to as "Tenant's Property") shall
          remain personally, notwithstanding the fact that it may be affixed or
          attached to the realty, and shall, during the term of this Lease or
          any extension thereof, belong to and be removable by Tenant, provided
          that (a) Tenant shall remove said installations prior to the
          expiration of such term, and shall repair any damage caused by said
          removal and shall deliver the Demised Premises to Owner in the same,
          or better condition, as upon the commencement of the term hereof,
          reasonable wear and tear excepted.  Prior to the expiration of the
          term or sooner termination thereof, Tenant shall at its own cost and
          expense remove, from the Demised Premises, all of Tenant's property,
          except such items thereof as Tenant shall have expressly agreed in
          writing with Owner are to become the property of the Owner and Tenant
          shall repair any damage to the Demised Premises resulting from such
          removal.  Any Tenant's property remaining in the Demised Premises
          after termination of this Lease (except such items as Owner and Tenant
          have expressly agreed in writing are to remain and become the property
          of Owner) shall be deemed to have been abandoned by Tenant or any sub-
          Tenant and either may be retained by Owner as its property or may be
          removed from the premises by Owner at Tenant's expense.

     G.   Machinery, fixtures, chattels or equipment, if any, furnished or
          installed by Tenant, the cost of which is borne by Owner, shall become
          the property of Owner upon payment therefor by Owner, or reimbursement
          of Tenant by Owner, as the case may be, and shall not be removed by
          Tenant.  Anything herein contained to the contrary notwithstanding, it
          is understood and agreed that all structural improvements, all
          plumbing lines and equipment (other than fixtures), all electrical
          wiring, conduit and equipment (other than free-standing lighting
          fixtures), all heating and ventilating installations made by Tenant,
          whether with or without contribution or reimbursement by Owner, shall
          forthwith become part of the Building and property of Owner.

          Tenant's failure to comply with any of the items and conditions of
          this Article will be deemed a default pursuant to Article 17 hereof.

                                       4
<PAGE>

44.  Utilities
     ---------

     A.   Electricity Service
          -------------------

          (1)  Landlord shall contract directly with the public utility company
               for electric service for the Demised Premises.  Tenant shall be
               responsible for the payment of the cost of such electric service.
               Such electric service may be furnished to Tenant by means of the
               then existing electrical facilities serving the Premises to the
               extent that the same are available, suitable and safe for such
               purposes.  Landlord will, prior to the commencement date, install
               a sub-meter to measure Tenant's electric usage and Tenant shall
               pay for such electric usage at the rate charged to Landlord by
               the utility company plus a five percent administrative fee.

          (2)  Any additional feeders or risers to be installed to supply
               Tenant's additional electrical requirements, and all other
               equipment proper and necessary in connection with such feeders or
               risers shall be, at Landlord's option, installed by Landlord upon
               Tenant's request, at the sole cost and expense of Tenant
               (including a connection fee of Three Hundred Fifty Dollars
               ($350.00) per kilovolt ampere, provided that, in Landlord's
               reasonable judgment, such additional feeders or risers are
               necessary and are permissible under applicable laws and insurance
               regulations and the installation of such feeders or risers will
               not cause permanent damage or injury to the Building or the
               Premises or cause or create a dangerous or hazardous condition or
               entail excessive or unreasonable alterations or materially
               interfere with or disturb other tenants or occupants of the
               Building.  Tenant covenants that, at no time, shall the use of
               electrical energy in the Premises exceed the capacity of the
               existing feeders or wiring installations then serving the
               Premises.  Tenant shall not make or perform or permit the making
               or performance of any alterations to wiring installations or
               other electrical facilities in or serving the Premises or any
               additions to the business machines, office equipment or other
               appliances in the Premises which utilize electrical energy
               without the prior consent of Landlord in each instance, which
               consent shall not be unreasonably withheld or delayed.

          (3)  Landlord shall not be liable to Tenant in any way for any
               interruption, curtailment or failure, or defect in the supply or
               character of electricity furnished to the Premises by reason of
               any requirement, act or omission of Landlord or of any public
               utility or other company servicing the Building with electricity
               or for any other reason, except if caused by Landlord's
               negligence or willful misconduct.

                                       5
<PAGE>

               Landlord reserves the right to estimate electric costs and Tenant
               specifically agrees to pay estimated costs per submeter which
               shall be confirmed by an outside source monthly.

45.  Services
     --------

     (1)  Cleaning services by Landlord at the additional charges of $1.50 per
          square foot, to building standards plus actual increases from outside
          cleaning company.  No medical waste shall be removed by Landlord.

     (2)  HVAC - Landlord shall install the HVAC system and Landlord shall
          maintain and repair same during the term of the Lease at the
          Landlord's sole cost and expense and on the termination of the Lease,
          Tenant shall deliver the Premises with the HVAC system in working
          order, free and clear of all liens and encumbrances.  Tenant shall pay
          for electricity for its own cooling, at its sole cost and expense,
          through the HVAC system.

     (3)  Service elevator other than Monday through Friday, 8:00 AM through
          4:00 PM, at the rate of $50.00 per hour, subject to 48-hour written
          notice.

46.  Security Agreements
     -------------------

     A.   Tenant covenants and agrees that no security agreement, whether by way
          of conditional bill of sale, chattel, mortgage or instrument of
          similar import, shall be placed upon any improvement made by Tenant
          which is affixed to the realty.

     B.   In the event that any of the machinery, fixtures, furniture and
          equipment installed by Tenant in the Demised Premises are purchased or
          acquired by Tenant subject to a chattel, mortgage, conditional sale
          agreement or other title retention or security agreement, Tenant
          undertakes and agrees (1) that no such chattel, mortgage, conditional
          sales agreement or other title retention or security agreement or
          Uniform Commercial Code filing statement shall be permitted to be
          filed as a lien against the building and real property of which the
          Demised Premises form a part, and (2) to cause to be inserted in any
          of the above-described title retention, chattel, mortgage or security
          agreements the following provision:

          "Notwithstanding anything to the contrary herein, this chattel,
          mortgage, conditional sale agreement, title retention agreement or
          security agreement shall not create or be filed as a lien against the
          land, building and improvements comprising the real property in which
          the goods, machinery, equipment, appliances or other personal property
          covered hereby are to be located or installed."

     C.   If any such lien or UCC financing statement, based on an agreement as
          above described, is filed against the building and improvements, of
          which the Demised

                                       6
<PAGE>

          Premises form a part, Tenant will, upon at least ten (10) days' prior
          written notice thereof from Owner, cause such lien or notice to be
          removed or discharged at Tenant's cost and expense, and Tenant's
          failure ' to do so shall constitute a breach of a material provision
          of this Lease.

47.  Mechanic's Liens
     ----------------

     A.   Tenant shall have no power to do any act or make any contract which
          may create or be the foundation for any lien upon the reversion of
          Owner, the Premises herein Demised or Owner's building and
          improvements, it being agreed that should Tenant cause any
          alterations, changes, additional improvements or repairs to be made to
          the Demised Premises, or material furnished or labor performed therein
          or thereon, neither Owner for the Demise Premises shall, under any
          circumstances, be liable for the payment of any expenses incurred or
          for the value of any such work done or material furnished to the
          Demised Premises or any part thereof, but all such alterations,
          changes, additions, improvements and repairs and materials and labor
          shall be at Tenant's expense, and Tenant shall be solely and wholly
          responsible to contractors, laborers, and materialmen furnishing labor
          and material to said premises and building, or any part thereof, for
          or on behalf of Tenant.

     B.   Tenant shall not suffer or permit any mechanic's liens to be filed
          against the fee ownership of the Demised Premises nor against Tenant's
          leasehold interest in said premises, by reason of work, labor,
          services or materials supplied or claimed to have been supplied to
          Tenant or to any occupant of the Demised Premises.  If any such
          mechanic's lien shall at any time be filed against the Demised
          Premises or the building and improvements thereon, Tenant shall, at
          its own cost and expense, cause the same to be canceled and discharged
          of record by surety bond or appropriate cash deposit within thirty
          (30) days after the date of filing the same and notice thereof to
          Tenant, and Tenant shall indemnify and save harmless Owner from and
          against any and all costs, expenses, claims, losses or damages
          resulting therefrom or by reasons thereof.

     C.   Tenant shall also defend on behalf of Owner, at Tenant's sole cost and
          expense, any action, suit or proceedings which may be brought thereon
          or for the enforcement of such liens or orders, and Tenant shall pay
          any damages and satisfy and discharge any judgment entered thereon and
          save harmless Owner from any claim or damage resulting therefrom.

     D.   If Tenant shall fail to discharge such mechanic's lien within such
          period, then, in addition to any other right or remedy of Owner, Owner
          may, but shall not be obligated to, discharge the same, either by
          paying the amount claimed to be due or by procuring the discharge of
          such lien by deposit in court or bonding, and in any such event, Owner
          shall be entitled, if Owner so elects, to compel the prosecution of an
          action for the foreclosure of such mechanic's lien by the lienor and
          to pay the

                                       7
<PAGE>

          amount of the judgment, if any, in favor of the lienor, with interest,
          costs and allowances.

     E.   Any amount paid by Owner for any of the aforesaid charges and all
          reasonable legal and other expenses of Owner, including reasonable
          counsel fees, in defending any such action in procuring the discharge
          of said lien, with all necessary disbursements in connection
          therewith, with interest thereon at the then legal rate of imputed
          interest from the date of payment, shall be repaid within a period of
          twenty (20) days after written demand therefor by Owner to Tenant, and
          may be treated as Additional Rent payable with the next installment of
          Annual Basic Rent.

     F.   Prior to the commencement of any work in the Demised Premises by any
          general contractor employed by Tenant or by any sub-contractors
          employed by such general contractor, or sub-contractors employed by
          Tenant, Tenant shall:

          (1)  furnish Owner with Tenant's written statement setting forth the
               name and business address of the Tenant's general contractor or
               sub-contractors employed by Tenant;

          (2)  obtain and furnish to Owner a written list of all sub-contractors
               employed or to be employed by Tenant's general contractor and
               certified by the general contractor.

48.  Owner's Exculpation/No Recourse
     -------------------------------

     If the Owner or any successor-in-interest be an individual, joint venture,
     tenancy-in-common, co-partnership, unincorporated association, limited
     partnership or other unincorporated group of individuals, or a corporation
     (all of which are referred to below, individually, and collectively, as an
     "Owner Entity"), then, anything herein to the contrary notwithstanding,
     Tenant shall look solely to the interest of such Owner Entity in the
     building in satisfaction of Tenant's remedies for the collection of a
     judgment (or other judicial process) requiring the payment of money by
     Owner, in the event of any default or breach by Owner with respect to any
     of the terms, covenants and conditions of this Lease to be observed and/or
     performed by Landlord, and no other property or assets of such Owner Entity
     or any member thereof, shall be subject to levy, execution or, other
     enforcement procedure for the satisfaction of Tenant's remedies.

49.  Parties' Certificates
     ---------------------

     The Parties each shall, without charge at any time, and from time to time,
     within ten (10) days after request by the other, certify to any mortgagee,
     proposed assignee of any mortgagee, or proposed purchaser or any other
     person, firm or corporation specified by the requesting party:

                                       8
<PAGE>

     a)   That this Lease is unmodified and in full force and effect (or, if
          there has been modification, that the same is in full force and effect
          as modified and stating the modifications);

     b)   Whether or not there are then existing any set-offs or defenses
          against the enforcement of any of the agreements, terms, covenants or
          conditions hereof upon the part of the Tenant to be performed or
          complied with (and, if so, specifying the same); and

     c)   The dates, if any, to which the rental and other charges hereunder
          have been paid in advance.

50.  Liability Insurance and Indemnification
     ---------------------------------------

     A.   During the term hereof, Tenant shall, at its own cost and expense:

          (1)  Obtain, maintain and keep in force, for the benefit of Owner,
               Managing Agent and Tenant, comprehensive general liability
               insurance covering the risks in the limits set forth below, on or
               about the Demised Premises (which shall include Tenant's signs,
               if any):

               a)   Bodily Injury:

                    Each person           $1,000,000.00
                    Each Occurrence       $1,000,000.00

               b)   Property Damage:

                    Each Occurrence       $  500,000.00

               c)   Completed operations and contractual liability with the same
                    bodily injury and property damage limits stated in (a) and
                    (b) above.

               d)   Fire and extended coverage for Tenant's fixtures,
                    alterations and inventory in an amount adequate to cover the
                    cost of replacement, but not less than $100,000.00.

     B.   Owner and its managing agent, Et-Al Management Corp., shall be named
          as an additional insured in said policies, as their interests may
          appear, and shall be protected against all liability occasioned by an
          occurrence insured against.  All said policies of insurance shall be
          issued by insurance companies reasonably satisfactory to Owner and
          which are authorized to do business in the State of New York.  Tenant
          shall deliver to Owner the policies of insurance, together with
          evidence of the payment of premiums thereon within ten (10) days of
          taking occupancy of the

                                       9
<PAGE>

          Demised Premises and furnish to Owner at least twenty (20) days prior
          to the expiration of any such policies, a new policy, with evidence of
          the payment or premiums thereon. The parties hereto agree that the
          payment of said premiums may be financed, as long as same are made and
          kept current. Said policies shall also provide that the insurer will
          give Owner at least thirty (30) days' prior written notice of
          cancellation of said policy.

     C.   Notwithstanding the limits of insurance specified in this Article,
          Tenant agrees to indemnify Owner, its agents, servants and employees
          against all damage, loss or liability resulting from any of the risks
          referred to in this Article.  Such indemnification shall operate
          whether or not Tenant has placed and maintained the insurance
          specified in this Article and whether or not such proceeds from such
          insurance actually are collectible from one or more of the insurance
          companies; provided, however, that Tenant shall be relieved of its
          obligations of indemnity herein Pro Tanto of the amount actually
          recovered from one or more of the insurance companies by reason of
          injury or damage to, or loss sustained on the Premises.

     D.   Tenant shall pay all premiums and charges for all of said policies,
          and if Tenant shall fail to make any payment when due or carry any
          such policy, Owner may, but shall not be obligated to, make such
          payment or carry such policy, and the amount paid by Owner, with
          interest thereon, shall be repaid to Owner by Tenant on demand, and
          all such amounts so repayable, together with such interest, shall be
          considered as Additional Rent payable hereunder for the collection of
          which Owner shall have all of the remedies herein or by law provided
          for the collection of rent.  Payment by Owner of any such premium or
          the carrying by Owner of any such policy, shall not be deemed to waive
          or release the default of Tenant with respect thereto.

          Tenant must provide evidence of coverages prior to taking occupancy of
          leased space.

     E.   Tenant acknowledges that Owner will not carry insurance of any kind on
          Tenant's furniture, furnishings, finishes, or wall coverings and/or
          fixtures, equipment, and improvements, and agrees that Owner shall not
          be obligated to repair any damage thereto or to replace the same.

     F.   Landlord will maintain same type of liability insurance for all public
          spaces in building and will indemnify and defend Tenant for events
          which occur in the buildings common space due to Landlord/Owner's
          negligence.

                                       10
<PAGE>

51.  Tenant's Conduct of Business
     ----------------------------

     Tenant covenants and agrees:

          A.   To do all things necessary to keep the Demised Premises clean,
               orderly and neat at all times, and to prevent odors, all at
               Tenant's sole cost and expense, and to conduct its business in a
               proper manner.

          B.   That Tenant shall conduct its operations in the Demised Premises
               in an orderly and proper manner so as not to annoy, disturb or be
               offensive to others.

          C.   That Tenant shall not, at any time, discharge into the plumbing,
               sewage or drainage system, any waste materials which will result
               in the creation of a blockage in said system or otherwise
               adversely affect the proper and clean maintenance and operation
               thereof.

          D.   That Tenant, at its sole cost and expense, shall provide regular
               exterminating and pest control services using Landlord's
               exterminator in the Demised Premises at regular intervals, in
               order to prevent the occurrence of any vermin in or about the
               Demised Premises.

52.  Adjustment of Rent for Increases in Real Estate Tax
     ---------------------------------------------------

     See Paragraph 83.

53.  Assignment and Sub-letting Provisions
     -------------------------------------

     Tenant may not assign this Lease under any circumstances without the prior
     written consent of Owner, which consent may be withheld for any reason or
     for no reason whatsoever.

54.  Rent Arrears, Etc.  Supplementing Article 25 of the printed form of lease:
     ------------------

          A.   Owner, at Owner's option, shall have the right, when Tenant is in
               default in the payment of Fixed Rent or Additional Rent, to
               demand payment by certified, bank or teller's check, or by postal
               money order.

          B.   In the event that any payment under this Lease shall be made in
               the form of a check from any person, firm or corporation other
               than the person, firm or corporation named in this Lease, the
               acceptance of same by Owner shall not, under any circumstances,
               be deemed recognition of a sub-letting or any assignment of this
               Lease, regardless of the number of times that such payment shall
               be made by such other person, firm or corporation.

                                       11
<PAGE>

          C.   Late Charge.  If Tenant shall fail to pay all or any part of any
               installment of Fixed Rent or Additional Rent for more than ten
               (10) days after the same shall have become due and payable
               (including the dishonor of a payment made by check, even if such
               check was tendered in a timely manner), Tenant shall pay as
               Additional Rent hereunder to Owner a late charge of six (6) cents
               for each dollar of the amount of such Fixed Rent or Additional
               Rent which shall not have been paid to Owner within said ten (10)
               day period, in addition to any other right or remedy available
               due to such late payment.

          D.   In the event that any check paid by or for the benefit of Tenant
               to Owner is dishonored, Tenant shall pay Owner as Additional Rent
               hereunder a charge of One Hundred Dollars ($100.00) in addition
               to any other late charge or right or remedy available due to such
               dishonored payment.

55.  Additional Rent
     ---------------

     A.   All payments, other than Minimum Annual Rent required to be made by
          Tenant pursuant to this Lease (including, but not limited to,
          escalation charges, and any and all damages, interest, costs, fees and
          expenses caused by Tenant's default) shall be deemed additional rent
          and, in the event of any non-payment thereof, Owner shall have all
          rights and remedies provided for herein and by law for non-payment of
          Minimum Annual Rent in addition to whatever other remedies may be
          available to Owner.

     B.   Unless expressly provided otherwise in this Lease, the amount shown as
          due to Owner (or Owner's agent) in all bills, invoices and statements
          to Tenant shall be due and payable by Tenant upon receipt without
          further demand.  Any delay or failure of Owner or its agent to prepare
          and deliver any bill, statement or invoice shall not constitute a
          waiver of the right to collect any payment which may have become due
          during the term of this Lease, including without limitation,
          retroactive payments for any and all amounts unbilled.

     C.   All payments of Minimum Annual Rent and additional rent pursuant to
          this Lease shall be made by Tenant with checks drawn upon a New York
          City bank.  If Owner receives from Tenant any payment less than the
          full amount of the Minimum Annual Rent and additional rent then due
          and owing, Tenant hereby waives its right, if any, to designate the
          items to which such payment shall be applied and agrees that Owner, in
          its sole discretion, may apply such payment in whole or in part to any
          Minimum Annual Rent, any additional rent or to any combination thereof
          then due and payable hereunder.

     D.   The losing party in any action or proceeding between Owner and Tenant
          shall pay the reasonable attorneys' fees, costs and disbursements of
          the prevailing party for such action or proceeding upon the assignment
          thereof by the Court or on demand.

                                       12
<PAGE>

          If a default of Tenant causes Owner to prosecute or defend an action
          or proceeding with a third party, Tenant shall pay the reasonable
          attorneys' fees, costs and disbursements of Owner for such action or
          proceeding on demand. If Owner suffers, pays or incurs any damages,
          losses, fees or expenses (including without limitation, reasonable
          attorneys' fees and disbursements) due to a default, act, omission or
          request of Tenant, Tenant shall pay the total amount thereof to Owner
          on demand.

     E.   If all rent is not paid in full and actually received by Owner within
          fifteen (15) days after it is due and payable hereunder, Tenant shall
          pay Owner a late fee of 2% per month as additional rent.  However, if
          the collection of such late fee at the rate specified herein would be
          usurious or otherwise unenforceable, interest on late payments shall
          accrue at the highest enforceable rate.

     F.   References in this Lease to "rent," "Rent," "rents," "Rents,"
          "rental," "Rental," "rentals" and "Rentals" shall mean and include
          Minimum Annual Rent and additional rent.  The Minimum Annual Rent is
          the minimum rental due and payable without prior demand, offset or
          deduction.  No decrease in any additional rent for any period shall
          yield an offset or deduction in any other rental or for any other
          period.  References in this Lease to Tenant being "in default" and/or
          Tenant's "breach" or "default" shall mean and include each and every
          default, breach, misfeasance, nonfeasance, non-payment, or any other
          failure of Tenant to perform any of its obligations hereunder.  If
          Owner gives notice of default and Tenant seeks declaratory relief and
          Tenant's time to cure is extended pending the outcome of such
          declaratory judgment action, Tenant shall be deemed to be "in default"
          under this Lease during the pendency of such action for the purposes
          of those rights that are exercisable by Tenant only if it is not "in
          default."  All of Tenant's obligations to pay rent, to indemnify Owner
          and to obtain insurance shall survive the expiration of the term or
          sooner termination of this Lease.

     G.   Owner's managing agent, Et-Al Management Corp., may give notices,
          demands, invoices, statements and/or bills to Tenant in Owner's
          behalf; any such notice, statement, invoice, demand or bill shall be
          deemed to have been given by Owner.

     H.   The provisions of this Article shall supplement (not limit) other
          provisions of this Lease pertaining to the same matters as this
          Article and related matters.

56.  Owner's Right of Entry
     ----------------------

     A.   Tenant shall permit Owner to erect, use, maintain and repair pipes,
          cables, conduits, plumbing, vents and wiring in, to and through the
          Demised Premises, as and to the extent that Owner may now or hereafter
          deem to be necessary or appropriate for the proper operation and
          maintenance of the building of which the Demised Premises are a part.
          All such work shall be done, so far as practicable, in such manner as
          to avoid interference with Tenant's use of the Demised Premises, and
          as expeditiously as

                                       13
<PAGE>

          possible. The liability of Owner, if any, under this Article shall be
          limited to the prompt repair, at the sole cost and expense of Owner,
          of any damage caused to the Demised Premises by the Owner in the
          course of doing work under this paragraph.

     B.   Upon providing forty-eight (48) hours advance written notice, Owner,
          or its agents or assignees, shall have the right to enter the Demised
          Premises during business hours for the purpose of making such repairs
          or alterations as Owner shall be required or shall have the right to
          make by the provision of this Lease.  Owner shall attempt to do all
          such work at a time, and in a manner, that will not unreasonably
          inconvenience Tenant, significantly diminish Tenant's floor area or
          significantly disrupt Tenant's architectural layout.  Owner shall be
          allowed to take all material into and upon the Demised Premises that
          may be required for repairs or alterations, without constituting an
          eviction of Tenant, in whole or in part, so long as any repair work by
          Owner is diligently prosecuted to completion.  Owner shall also have
          the right, without prior written notice, to enter the Demised Premises
          at such other times as such entry may be required by circumstances of
          emergency affecting the Demised Premises or the building containing
          the same.  In addition, Owner, or its agents or assignees, shall have
          the right to enter the Demised Premises upon providing twenty-four
          (24) hours' prior written notice during business hours for the purpose
          of inspecting the general condition and state of repair of the
          Premises and the showing of the Premises to any prospective purchaser
          or mortgagee, such entry and inspection to be conducted in a manner
          calculated to not unreasonably interfere with the operation of
          Tenant's business or its customers.

     C.   The rights granted to Owner by the terms of this Article shall be
          deemed supplementary to the provisions set forth in Article 13 of the
          printed portion of this Lease.

57.  Suspension of Services
     ----------------------

     Anything in this Lease to the contrary notwithstanding, Owner reserves the
     right to suspend the service of any utilities, when necessary by reason of
     accident or of repairs, alterations or improvements necessary to be made in
     the Demised Premises or the building of which it is a part, until such
     repairs, alterations or improvements shall have been completed, and Owner
     shall have no responsibility or liability for such suspension of services,
     provided Owner proceeds with diligence and continuity to complete such
     repairs, alterations or improvements and uses its best efforts to restore
     such services as soon as practicable.  The foregoing shall not be deemed to
     impose upon Owner any obligations for the furnishing of any service,
     maintenance or repair other than is specifically set forth in this Lease.
     Owner will provide 72 hours advance notice of any planned service
     suspension which is for regular maintenance purposes.  No notice shall be
     required for emergency suspension of service resulting from an accident or
     other unanticipated event.

                                       14
<PAGE>

58.  Condemnation
     ------------

     A.   If the whole of the Demised Premises shall be taken under the power of
          eminent domain of any public or private authority, then this Lease and
          the term thereof shall cease and terminate, as of the date of such
          taking and any unearned rent or other charges, if any, paid in
          advance, shall be refunded to Tenant.

     B.   In the event that only a portion of the Demised Premises shall be
          taken under the power of eminent domain by any public or private
          authority, then this Lease and the term thereof shall continue in full
          force and effect, at option of either the Owner or the Tenant,
          provided, however, that Owner shall, at its expense forthwith restore
          what may remain of the Demised Premises to substantially the same
          condition as prior to the condemnation.  There shall be a pro rata
          abatement of basic rent hereunder to the extent that the amount of
          floor space so taken compares to the amount of floor space prior to
          such condemnation, to compensate Tenant for its loss of use of such
          portion of the Demised Premises.  The minimum rent reserved herein,
          and any other charges payable to Tenant hereunder, shall be suspended
          (provided Tenant is not then using the Demised Premises) for the
          period from the date of the taking until the remainder of the Demised
          Premises shall have been restored as aforesaid.

     C.   Tenant shall not be entitled to any award for the loss of or loss in
          value of the leasehold, but only to an award for loss of or damage to
          its fixtures and/or equipment and to moving expenses, all to the
          extent allowed and solely in the event that such allowance does not,
          in any way, diminish the award to Owner.  The respective damages to
          which Owner and Tenant are entitled by reason of any such taking shall
          be fixed and paid, respectively, to Owner and Tenant, as their
          interests appear, and in no event shall there be a merger of interest.

     D.   Within fifteen (15) days after Owner receives written notice of any
          such taking or intention to take under power of eminent domain, Owner
          shall forward a copy thereof to Tenant.

59.  Damage or Destruction
     ---------------------

     A.   If the Demised Premises shall be partially damaged by fire or other
          casualty, the damaged portions of the Demised Premises (but not
          Tenant's trade fixtures or personal property) shall be repaired by and
          at the expense of Owner (unless such fire or casualty resulted, in
          whole or in part, from any act or omission, whether negligent or
          otherwise, of Tenant or his agents, servants, contractors, employees,
          invitees, or assigns, in which case such repairs shall be at the cost
          and expense of Tenant), and the rent until such repairs shall be made
          shall be apportioned according to the part of the Demised Premises
          which is usable by Tenant.  If Tenant shall have paid rent

                                       15
<PAGE>

          in advance, Owner shall repay to Tenant an amount equal to that
          portion of rent so paid in advance, payment of which is abated.

     B.   If the Demised Premises are totally damaged or are rendered wholly
          untenantable by fire or other casualty, Owner shall, within sixty (60)
          days after such fire or other casualty, give Tenant written notice of
          Owner's election whether:

          1)   To terminate this Lease and thereupon the term of this Lease
               shall expire by lapse of time upon the third (3rd) day after such
               notice is given, and Tenant shall vacate the Demised Premises and
               surrender the same to Owner. If Tenant shall not be in default
               under this Lease, or if any monetary default existing at the time
               of the giving of such a notice is cured in full within three (3)
               days after delivery of said notice, then upon the termination of
               this Lease under the conditions provided for in the sentence
               immediately preceding, Tenant's liability for rent accruing
               subsequent to the fire or casualty shall cease and be apportioned
               as of the day following such fire or casualty, or

          2)   To restore or rebuild the Demised Premises in character, layout,
               area and equipment (but not Tenant's trade fixtures or personal
               property) substantially equal to the premises damaged or
               destroyed immediately prior to such damage or destruction, and it
               is agreed that in such event, this Lease shall continue in full
               force and effect, but the rent, the additional rent, and all
               other payments and obligations of Tenant shall abate as of the
               date of such fire or other casualty, until the Demised Premises
               shall have been fully and completely restored or rebuilt by Owner
               and possession thereof shall have been delivered to Tenant.

               Should Owner elect to send Tenant written notice under
               subparagraph (1) of this Article 56B, and thereafter, within one
               (1) year of the giving of such notice, act nevertheless to
               restore or rebuild the Demised Premises in character, layout,
               area and equipment (but not Tenant's trade fixtures or personal
               property) substantially equal to the premises damaged or
               destroyed immediately prior to such damage or destruction, then
               and in such event, Owner agrees to give Tenant a thirty (30) day
               unilateral option to be exercised by Tenant in the method and
               manner otherwise set forth in this Lease, to resume occupancy for
               the remaining balance of the original lease term under all of the
               other terms and conditions set forth in this Lease.

     C.   Owner shall not be liable for reasonable delay under the foregoing
          subparagraphs A or B if such delay arises by reason of adjustment of
          insurance on the part of Owner and/or Tenant or the reasonable delay
          on account of any cause beyond the control of Owner or contractors
          employed by Owner, including, but not limited to strikes, labor
          disputes and shortages of material.

                                       16
<PAGE>

     D.   Tenant hereby expressly waives the provisions of Section 227 of the
          Real Property Law and of any law now in force or hereafter enacted
          which, in substance, provides for termination of a lease of real
          property by reason of destruction or untenantability of the Premises
          demised thereunder caused by fire or other casualty and agrees that
          the provisions of this Article 57 shall govern and control in lieu of
          any such provisions of law.

60.  Signs
     -----

     A.   Tenant shall not, without Owner's prior written consent, place or
          install any sign on the exterior of the Demised Premises, or the
          building of which it is a part, or on the inner or outer faces of the
          windows or doors of the Demised Premises.  Tenant shall be permitted
          to install and maintain, at its own cost and expense, an exterior
          sign, provided the same receives the prior approval of Owner as to
          dimensions, shape, design, size, color, wording, material of
          composition and location.  Tenant agrees that any exterior sign
          approved by Owner shall not be installed until all approvals and
          permits are first obtained by Tenant from governmental agencies having
          jurisdiction thereover and that all fees payable in connection with
          such installation, maintenance and permits shall be paid by Tenant.

     B.   Tenant shall not place in the window's or in any display or other area
          visible to public view from the outside of the Demised Premises any
          flashing, blinking or animated sign or one which otherwise has
          variations in the intensity of illumination without first obtaining
          Owner's prior written approval.

     C.   Tenant shall not, after having obtained the approval of Owner, change
          or alter any sign in any respect whatsoever, including but not limited
          to size, material of composition or location, without first obtaining
          the prior written approval of Owner, except that Tenant may change the
          phraseology in a sign previously approved by Owner without additional
          approval.

     D.   In the event that Owner shall deem it necessary to remove any sign of
          Tenant in order to make any repairs, alterations or improvements in,
          to or upon the Demised Premises, or the building of which it is a
          part, Owner shall have the right to do so, provided the same be
          removed and replaced at Owner's expense, promptly upon completion of
          such repair, alteration or improvements.

61.  Replacement of Plate Glass
     --------------------------

     Tenant shall, at its own cost and expense, replace any and all plate or
     other glass damaged or broken from any cause whatsoever in and about the
     Demised Premises.  Tenant shall, at its own cost and expense, either insure
     and keep insured all such glass in stock companies authorized to do
     business in the State of New York, naming the Owner as a party insured
     thereunder, or may act as a self-insurer for plate glass.

                                       17
<PAGE>

62.  Holdover by Tenant
     ------------------

     Tenant will have no right to remain in possession of all or any part of the
     Demised Premises after the expiration of the term.  If Tenant remains in
     possession of all or any part of the Demised Premises after the end of said
     term, with the express or implied consent of Owner: (a) such tenancy will
     be deemed to be a periodic tenancy from month-to-month only; (b) such
     tenancy will not constitute a renewal or extension of this Lease for any
     further term; and (c) such tenancy may be terminated by Owner upon the
     earlier of thirty (30) days' prior written notice or the earliest date
     permitted by law.  In such event, monthly rent (the reasonable value of use
     and occupancy) will be increased to an amount equal to one-half (1/2) of
     the sum of the Minimum Annual Rent plus all additional rentals payable
     during the last year of the term, and any other sums due for additional
     rent under this Lease will be payable in the amount and at the times
     specified in this Lease.  Such month-to-month tenancy will be subject to
     every other term, condition and covenant contained in this Lease. Neither
     the billing nor the collection of use and occupancy in the above amount
     shall be deemed a waiver or any right of Owner to collect damages for
     Tenant's failure to vacate the Demised Premises after the expiration or
     sooner termination of this Lease.  The provisions of this Article shall
     survive the expiration or sooner termination of this Lease.  In the event a
     renewal lease is executed by all parties within ninety (90) days of the
     expiration date and all rent has been paid timely, the rent will be
     adjusted retroactively to the renewal rate.

63.  Broker
     ------

     Tenant and Owner covenant, warrant and represent to each other that neither
     has had any dealings with any real estate broker, agent or finder in
     consummating the Lease other than Aegis Realty, Equis, and Sholom &
     Zuckerbrot and that no conversation or prior negotiations were had with any
     individual or entity other than Aegis Realty, Equis, and Sholom &
     Zuckerbrot concerning the renting of the Demised Premises.  In reliance
     upon such representation, Owner agrees to pay any commission due to Aegis
     Realty, Equis, Sholom & Zuckerbrot.  The parties agree to hold each other
     harmless from and against any claims for brokerage commissions arising out
     of any conversation of negotiations had by the Tenant with any other
     broker./2/

__________________

/2/  Based on conversation w/ Alan Zaretsky, he has agreed to split the Broker
 -   Commission equally amongst the above names brokers. Additionally Mr.
     Zaretsky agreed to give [ document illegible                              ]
     ---------------------------------------------------------------------------

                                       18
<PAGE>

64.  Subordination and Attornment
     ----------------------------

     A.   This Lease, and all rights of Tenant hereunder, are and shall be
          subject and subordinate in all respects to all mortgages and building
          loan agreements, including without limitation, mortgages and building
          loan agreements and leasehold mortgages which may now or hereafter
          affect the Land and/or the Building and/or any of such Leases, whether
          or not such mortgages shall also cover other lands and/or buildings,
          to each and every advance made or hereafter to be made under such
          mortgages and/or building loan agreements, and to all renewals,
          modifications, replacements, assignments, and extensions of such
          Leases, building loan agreements, mortgages and spreaders and
          consolidations of such mortgages.  This Article shall be self-
          operative and no further instrument of subordination shall be
          required.  In confirmation of such subordination, Tenant shall
          promptly, at its sole cost and expense, execute and deliver any
          instrument in recordable form that Owner, the lessor of any such Lease
          or the holder of any such mortgage or any of their respective assigns
          or successors in interest may reasonably request evidence such
          subordination and the Tenant hereby constitutes and appoints Owner the
          attorney-in-fact for Tenant to execute any such instrument for and on
          behalf of Tenant in the event Tenant fails to execute such instrument
          within ten (10) days following delivery of written request therefor.
          The Leases to which this Lease is, at the time referred to, subject
          and subordinate pursuant to this Article, are hereinafter sometimes
          called "Superior Leases" and the mortgages to which this Lease is, at
          the time referred to, subject and subordinate, are hereinafter called
          "Superior Mortgages" and the Lessor of a Superior Lease or its
          successor in interest at the time referred to is sometimes hereinafter
          called a "Lessor" and the holder of a Superior Mortgage or its
          successor in interest at the time referred to is sometimes hereinafter
          called a "Holder."  This provision supplements Article 7 of this
          Lease.

     B.   In the event of any act or omission of Owner which would give Tenant
          the right, immediately or after lapse of a period of time, to cancel
          or terminate this lease, or to claim a partial or total eviction,
          Tenant shall not exercise such right (1) until it has given written
          notice of such act or omission to the holder of each Superior Mortgage
          of record as of the date of the execution of this Lease, or of which
          Owner has given Tenant written notice, and (2) unless such act or
          omission shall be one which is not capable of being remedied by Owner
          or such Holder within a reasonable period of time, until reasonable
          period of time for remedying such act or omission shall have elapsed
          following the giving of such notice and following the time when such
          Holder shall have become entitled under such Superior Mortgage to
          remedy the same (which reasonable period shall in no event be less
          than the period to which Owner would be entitled under this Lease or
          otherwise, after similar notice, to effect such remedy), provided such
          Holder shall, with due diligence give Tenant written notice of its
          intention to, and commence and continue to, remedy such act or
          omission.  As of the date hereof, the parties entitled to receive
          notice under this Paragraph 63C are as follows:

                                       19
<PAGE>

          45-18 Court Square LLC and 45-18 Equity, at
          60 Morrow Avenue
          Scarsdale, NY 10583

          In the event of any changes, notification will be given to tenant.

     C.   If the fee owner of the building which includes the Demised Premises,
          or the Holder of a Superior Mortgage, shall succeed to the rights of
          Owner under this Lease, whether through possession or foreclosure
          action or through termination for any reason of the leasehold estate
          covering the building which includes the Demised Premises or by
          delivery of a new lease or deed, then, at the request of such party so
          succeeding to Owner's rights (herein sometimes called "Successor
          Owner") and upon such Successor Owner's written agreement to accept
          Tenant's attornment, Tenant shall attorn to and recognize such
          Successor Owner as Tenant's Landlord under this Lease.  The foregoing
          provisions shall inure to the benefit of any such Successor Owner, and
          shall be self-operative upon any such demand, without requiring any
          further instrument to give effect to said provisions.  Tenant,
          however, upon demand of any such Successor Owner, agrees to execute,
          from time to time, an instrument in confirmation of such attornment
          which is satisfactory to such Successor Landlord. Upon such
          attornment, this Lease shall continue in full force and effect for the
          remainder of the term originally demised under this Lease, as or as if
          it were a direct lease between the Successor Owner and Tenant upon all
          of the terms, covenants, conditions, agreements and provisions, as are
          set forth in this Lease, except that the Successor Owner shall not:

          1)   be subject to any offset not expressly provided for in this
               Lease.

          2)   be bound by any previous modification of this Lease not expressly
               provided for in this Lease, or by any previous pre-payment of
               more than one month's rent, unless such modification or
               prepayment shall have been expressly approved in writing by the
               Successor Owner through or by reason of which the Successor
               Landlord shall have succeeded to the rights of Owner under this
               lease.

     D.   Owner covenants and represents that it knows of no outstanding
          lawsuits, claims or judgments affecting or limiting Owner's right or
          authority to perform under this lease.

65.  Left Blank Intentionally
     ------------------------

                                       20
<PAGE>

66.  Modification - Financing
     ------------------------

     If, in connection with Owner's obtaining financing for the Real Property or
     any portion thereof, a bank, insurance company or other lending institution
     shall request reasonable modifications of this Lease as a condition to such
     financing, Tenant will not unreasonably withhold, delay or defer its
     consent thereto, provided that such modifications do not increase the
     obligations of Tenant hereunder or adversely affect the leasehold interest
     hereby created or otherwise and adversely affect Tenant's rights hereunder.

67.  Conditional Limitation
     ----------------------

     In the event that in any twelve (12) month period (A) a non-monetary
     default of the kind set forth in Article 17(l) shall have occurred or (B)
     Tenant shall have defaulted in the prompt payment of Minimum Annual Rent or
     Additional Rent, or any part of either, and Owner shall have commenced a
     summary proceeding to dispossess Tenant in each such instance, then,
     notwithstanding that such defaults may have been cured at any time after
     the commencement of such summary proceeding, any two (2) further defaults
     by Tenant within the ensuing twenty-four (24) month period shall be deemed
     to be a violation of a substantial obligation of this Lease by Tenant and
     Owner may serve a written three (3) days' notice of cancellation of this
     Lease upon Tenant and, upon the expiration of said three (3) days, this
     Lease and the term shall end and expire as fully and completely as if the
     expiration of such three (3) day period were the day herein definitely
     fixed for the end and expiration of this Lease and the term and Tenant
     shall then quit and surrender the Demised Premises to Owner, but Tenant
     shall remain liable as elsewhere provided in this Lease.  Tenant's payment
     of Minimum Annual Rent and/or Additional Rent shall be considered "prompt"
     if received by Owner within ten (10) days of the date that same is due.

68.  Bankruptcy
     ----------

     Without limiting any of the provisions of Article 16, 17 or 18 hereof, if
     pursuant to the Bankruptcy Code of 1978 and the Bankruptcy Code of 1986, as
     the same may be amended, Tenant is permitted to assign this Lease in
     disregard of the restrictions contained in Article 11 or any other
     provision of this Lease.  Tenant agrees that adequate assurance of future
     performance by the assignee permitted under such Code shall mean deposit of
     cash security with Owner in an amount equal to the sum of one year's
     Minimum Base Rent then reserved hereunder plus an amount equal to all
     additional rent payable under the provisions of this Lease for the calendar
     year preceding the year in which such assignment is intended to become
     effective, which deposit shall be held by Owner, without interest, for the
     balance of the term of this Lease as security for the full and faithful
     performance of all of the obligations under this Lease on the part of
     Tenant yet to be performed.  If Tenant receives or is to receive any
     valuable consideration for such an assignment of this Lease, such
     consideration, after deducting therefrom (A) the brokerage commissions, if
     any, and other expenses reasonably incurred by Tenant for such assignment
     and (B) any portion of such consideration reasonably designated by the
     assignee as paid for the purchase of Tenant's

                                       21
<PAGE>

     property in the demised premises, shall be and become the sole and
     exclusive property of Owner and shall be paid over to Owner directly by
     such assignee. In addition, adequate assurance shall mean that any such
     assignee of this Lease shall have a net worth, exclusive of good will,
     equal to at least fifteen (15) times the aggregate of the Minimum Annual
     Rent reserved hereunder plus all additional rent for the preceding calendar
     year as aforesaid.

69.  Hazardous Materials
     -------------------

     A.   For purposes of this Lease, "hazardous materials" means any
          explosives, radioactive materials, hazardous wastes, or hazardous
          substances, including without limitation, substances defined as
          "hazardous substances" in the Comprehensive Environmental Response,
          Compensation and Liability Act of 1980, as amended, 42 U.S.C. #9601-
          9657; the Hazardous Materials Transportation Act of 1975, 49 U.S.C.
          #1801-1812; the Resource Conservation and Recovery Act of 1976, 42
          U.S.C. #6901-6987; or any other similar laws (collectively, "hazardous
          materials laws").

     B.   Tenant will not cause or permit the storage, use, generation, or
          disposition of any hazardous materials in, on, or about the demised
          premises or the Building by Tenant, its agents, employees or
          contractors.  Tenant will not permit the Demised Premises to be used
          or operated in a manner that may cause the Demised Premises or the
          Building to be contaminated by any hazardous materials in violation of
          any hazardous materials laws.  Tenant will immediately advise Owner in
          writing of (1) any and all enforcement, cleanup, remedial, removal, or
          other governmental or regulatory actions instituted, completed or
          threatened pursuant to any hazardous materials laws relating to any
          hazardous materials affecting the Demised Premises; and (2) all claims
          made or threatened by any third party against Tenant, Owner, or the
          Demised Premises relating to damage, contribution, cost recovery,
          compensation, loss, or injury resulting from any hazardous materials
          on or about the Demised Premises.  Without Owner's prior written
          consent, Tenant will not take any remedial action or enter into any
          agreements or settlements in response to the presence of any hazardous
          materials in, on or about the Demised Premises.

     C.   Tenant will be solely responsible for and will defend, indemnify and
          hold Owner, its agents and employees, harmless from and against all
          claims, costs and liabilities, including attorneys' fees and costs,
          arising out of or in connection with Tenant's breach of its
          obligations in this Article, including, but not limited to, the
          removal, cleanup and restoration work and materials necessary to
          return the Demised Premises and any other property of whatever nature
          located on the Building to their condition existing prior to the
          appearance of Tenant's hazardous materials on the Demised Premises.
          Tenant's obligations under this Article will survive the expiration or
          other termination of this Lease.

                                       22
<PAGE>

70.  Left Blank Intentionally
     ------------------------

71.  Occupancy Prior to Commencement Date
     ------------------------------------

     In the event that Owner permits Tenant to occupy the Demised Premises prior
     to the commencement date, such occupancy shall be upon all of the terms and
     conditions contained in this Lease except that Tenant shall pay a pro-rated
     rent for the period to the commencement date and shall be responsible for
     all other charges provided for under the Lease.

72.  Waste Removal, Etc.
     -------------------

     Tenant shall, at its own cost and expense, promptly dispose of all garbage,
     ashes and waste arising from the conduct of its business in the Demised
     Premises at such times and in such manner so as to avoid any obnoxious or
     offensive smells or odors therefrom or otherwise materially interfering
     with the comfort and quiet enjoyment of the other occupants of the
     building.  Tenant further covenants and agrees, at the Tenant's own cost
     and expense, to keep the drain waste and connections with mains free from
     obstruction to the reasonable satisfaction of the Landlord, its agents and
     all authorities having jurisdiction thereof.  Tenant further covenants and
     agrees that Tenant will, at Tenant's own cost and expense, keep and
     maintain the interior in good order and repair.  (See paragraph 45(i) of
     Rider).

73.  Irrespective of the place of execution or performance, this agreement shall
     be governed by and construed in accordance with the laws of the State of
     New York.  This agreement shall be construed without regard to any
     presumption or other rules requiring construction against the party causing
     this agreement to be drafted.  If any words or phrases in this agreement
     shall have been stricken out or otherwise eliminated, whether or not any
     other words or phrases have been added, this agreement shall be construed
     as if the words or phrases so stricken out or otherwise eliminated were
     never included in this agreement and no implication or inference shall be
     drawn from the fact that said words or phrases were so stricken out or
     otherwise eliminated.  All terms and words used in this agreement,
     regardless of the number or gender in which they are used, shall be deemed
     to include any other number and any other gender, as the context may
     require.

74.  Left Blank Intentionally
     ------------------------

75.  Notice of Owner's Default
     -------------------------

     In the event of any alleged default in the obligation of Owner under this
     Lease, Tenant will deliver to Owner written notice listing the reasons for
     Owner's default and Owner will have thirty (30) days following receipt of
     such notice to cure such alleged default or, in the event that the alleged
     default cannot reasonably be cured within a thirty (30) day period, to
     commence action and proceed diligently to cure such alleged default.  A
     copy of such notice to Owner will be sent to any holder of a mortgage or
     other superior lien on the Building or

                                       23
<PAGE>

     this Lease of which Tenant has been notified in writing, and any such
     holder will also have the same time periods to cure such alleged default.

76.  Modifications Requested by Mortgagee
     ------------------------------------

     If any actual or prospective holder of a fee or mortgage interest in the
     Building, the improvements thereon, the land thereunder or any leasehold
     interest in either, requires the modification of this Lease in such manner
     as does not materially lessen Tenant's rights or increase its obligations
     hereunder, Tenant shall not withhold or delay its consent to such
     modification and shall execute and deliver such confirming documents
     therefor as such holder requires.

77.  Conflict Between Rider and Printed Lease
     ----------------------------------------

     If and to the extent that any of the provisions of any Rider to this Lease
     conflict or are otherwise inconsistent with any of the printed provisions
     of this Lease, whether or not such inconsistency is expressly noted in the
     Rider, the provisions of the Rider shall prevail.  The description of a
     particular right or remedy of Owner shall not be deemed exclusive or
     otherwise limit, waive or impair Owner's resort to any or all other rights
     and remedies available.  The terms "Owner" and "Landlord" whenever used in
     this Lease shall have the same meaning.  The meaning and effect of this
     Lease shall not be determined subject to any presumption against Owner as
     drafter.  The doctrine of "ejusdem generis" shall not be applied to limit a
     general description to the same class or category of things or matters
     contained in the list (or specific description) which the general
     description follows or otherwise relates to.  If a word or phrase contained
     in a prior draft of this Lease was deleted intentionally, the meaning and
     effect of this Lease shall be determined as if the language stricken had
     not been included in any prior draft.

78.  Rider Governs
     -------------

     If any provision contained in this Rider is inconsistent or in conflict
     with any printed provision of this Lease, the provision contained in this
     Rider shall supersede said printed provision and shall be paramount and
     superior.

79.  Partial Invalidity/Joint Liability
     ----------------------------------

     If any provision of this Lease or the application thereof to any person or
     circumstance shall, to any extent be held void, unenforceable or invalid,
     then the remainder of this Lease or the application of such provisions to
     persons or circumstances other than those to which it is held void,
     unenforceable or invalid shall be valid and enforced to the fullest extent
     permitted by law.  If there shall be more than one Tenant, they shall all
     be bound, jointly and severally, by the terms, covenants and conditions of
     this Lease.

                                       24
<PAGE>

80.  Indemnity:  Supplementing Article 8 of the printed form of this lease.
     ---------

     A.   Tenant agrees to indemnify and save harmless Owner from and against
          (a) all claims of whatever nature against Owner arising from any
          negligent or improper act or omission of Tenant, its contractors,
          licensees, agents, servants, employees, invitees or visitors, (b) all
          claims against Owner arising from any accident, injury or damage
          whatsoever caused to any person or to the property of any person and
          occurring during the Term in or about the Demised Premises, and (c)
          all claims against Owner arising from any accident, injury or damages
          which result or are claimed to have resulted from an act or omission
          of Tenant or Tenant's contractors, agents, servants, employees,
          invitees or visitors.  This indemnity shall not apply to the extent
          that any of the claims described above are caused by the negligent act
          or omission of Landlord, its contractors, agents, servants or
          employees.  This indemnity and hold harmless agreement shall include
          indemnity from and against any and all liabilities, fines, suits,
          demands, costs and expenses (including without limitation, reasonable
          attorneys' fees) of any kind or nature incurred in or in conjunction
          with any such claim or proceeding brought thereon, and the defense
          thereof.

     B.   Tenant's indemnity set forth in this Article 80 shall extend and apply
          to each Superior Lessor and Superior Mortgagee.

81.  Requirements of Law
     -------------------

     Supplementing Article 6 of the printed form of Lease, Tenant's obligation
     to comply with all present and future laws, orders and regulations of all
     state, federal, municipal and local governments, departments, commissions
     and boards relating to Tenant's manner of use of the Demised Premises shall
     include, but shall not be limited to, all requirements relating to
     environmental matters by reason of Tenant's manner of use of the Demised
     Premises (whether or not such requirement would otherwise be the
     responsibility of Owner under said laws, orders or regulations) including,
     but not limited to, the storage, treatment, handling or transportation of
     hazardous waste.

82.  Restrictions on Tenant's Use
     ----------------------------

     Under no circumstances may the Demised Premises or any portion thereof be
     used for residential purposes.  Tenant understands that any such use shall
     be a material default under the Lease and, notwithstanding anything herein
     to the contrary, shall entitle Landlord to immediately send Tenant a notice
     of cancellation of this Lease.  Tenant further understands and acknowledges
     that the Building is not, has not been and is not intended to be an Interim
     Multiple Dwelling within the meaning of Section 280 et seq. of the New York
     Multiple Dwelling Law or any other type of multiple dwelling.

                                       25
<PAGE>

83.  Tax Escalation
     --------------

     The rent payable by Tenant during each lease year shall be adjusted in
     accordance with this Article:

     A.   Definitions: For the purpose of this Article, the following
          definitions shall apply:

          1.   The term "Base Tax Year" shall mean the fiscal year commencing
               July 1, 1998 and ending June 30, 1999.

               The term "Tax Year" shall mean any year commencing July 1st and
               ending June 30th which covers any portion of the term of this
               Lease.

          2.   The term "Percentage" shall mean 6%.

          3.   The term "Building" shall mean the land and building known as:
               45-18 Court Square, Queens, N.Y. a/k/a 45-17 Pearson Street,
               Queens, N.Y.

          4.   The term "Real Estate Taxes" shall mean all taxes levied,
               assessed or imposed at any time by any governmental authority
               upon or against the Building and also any tax or assessment
               levied, assessed or imposed at any time by any governmental
               authority in connection with the receipt of income or rents from
               the Building to the extent that same shall be in lieu of all or a
               portion of any of the aforesaid taxes upon or against the
               Building.

     B.   Real Estate Taxes

          1.   In the event that the Real Estate Taxes payable during any Tax
               Year subsequent to the Base Tax Year shall exceed the amount of
               Real Estate Taxes payable during the Base Tax Year (whether any
               such excess results from a higher tax rate or an increase in the
               assessed valuation of the Building, or both), Tenant shall pay to
               Landlord, as additional rent for such subsequent Tax Year, an
               amount equal to The Percentage of the excess. After receipt of
               the tax bills which indicate that Real Estate Taxes payable for
               any subsequent Tax Year will exceed the Real Estate Taxes for the
               Base Year, Landlord shall furnish to Tenant a statement of the
               additional rent payable under this subdivision (B).

               The percentage is defined as Tenant's portion of space in
               building, specifically, 6%.

               Such statement shall set forth the Real Estate Taxes payable for
               such subsequent Tax Year and shall show an amount equal to the
               Percentage of the said excess, which amount shall be due from
               Tenant to Landlord, as

                                       26
<PAGE>

               additional rent, within ten (10) business days after receipt of
               the aforesaid statement; copies of the tax bills of the City of
               New York shall be sufficient evidence of the amount due under
               this Article, upon request.

          2.   The amount of Real Estate Taxes actually payable by Landlord
               during the Base Tax Year shall be used in the computation of the
               amount of additional rent payable under this subdivision (B)
               until the amount of the Real Estate Taxes payable during the Base
               Tax Year be reduced by final determination of legal proceedings,
               settlement or otherwise.  In the event of such reduction, the
               reduced amount of such taxes shall thereafter determine the
               amount of additional rent payable by Tenant pursuant to this
               subdivision (B), the additional rent theretofore paid or payable
               hereunder shall be recompute on the basis of such reduction.

          3.   If Landlord shall receive a refund of any portion of the Real
               Estate Taxes payable during any Tax Year after the Base Tax Year,
               based upon which Tenant shall have paid additional rent as
               provided in this subdivision (B), then as a result of such a
               reduction of said Real Estate Taxes by final determination of
               legal proceedings, settlement or otherwise, Landlord shall,
               within ten (10) business days after receiving the refund, pay to
               Tenant the percentage of the refund, less the percentage of
               reasonable expenses (including but not limited to attorneys' and
               appraisers' fees) incurred in connection with any such
               application or proceeding.

     C.   In no event shall the annual fixed rent under the Lease (exclusive of
          the additional rents under this Article) be reduced.

     D.   All of the additional rent payments required under this Article shall
          be appropriately prorated for any partial Tax Year occurring during
          the first and last years of the term of this Lease.  Landlord's
          failure to prepare and deliver any of the foregoing tax bills,
          statements or bills of Landlord's failure to make a demand, shall not
          in any way waive or cause the Landlord to forfeit or surrender its
          rights to collect the additional rent required to be paid under this
          Article.

     E.   In the event of a default by Tenant of any of the terms, covenants and
          conditions of the Lease on the part of Tenant to be performed,
          Landlord shall terminate the Lease as a result thereof, Landlord shall
          have any and all of the rights and remedies available to Landlord
          under the provisions of the Lease or otherwise with regard to the
          collection of the additional rent required to be paid by Tenant under
          the terms of this Article "83."

                                       27
<PAGE>

84.  A.   "Operating Expenses" shall consist of expenses that are directly
           ------------------
          attributable to the operation, maintenance, management and repair of
          the Real Property.  Tenant shall pay 6% of the increase in Operating
          Expenses ("Expense Increase") incurred in connection with the Real
          Property over the base year of the calendar year 1998 as and for
          additional rent.

     B.   Operating Expenses shall exclude:

          a.   Capital Improvements.

          b.   The cost of any repair made by the Landlord because of the total
               or partial destruction of the Real Property or the condemnation
               of a portion of the Real Property.

          c.   Any costs which are reimbursed by insurance proceeds or any other
               source.

          d.   Expenses of Landlord in curing its defaults or performing work
               expressly provided for in the Lease to be borne at Landlord's
               expense (including work for other tenant(s) in the Real
               Property).

          e.   The cost of marketing and leasing the Real Property, including
               leasing commissions, advertising and other marketing costs, and
               related legal, accounting and other professional services; costs
               to prepare space for occupancy by any tenants of the Real
               Property and for renovating, repainting, decorating,
               redecorating, planning, designing space for any tenants
               (including Tenant) and the cost of any credits, allowances, or
               other payments or rent waivers or concessions granted to any
               tenant (including Tenant).

          f.   Landlord's cost of electricity and other services sold to
               tenants, including retail tenants and the parking garage
               operator, if any, which services are not standard for the
               Premises, or are not available to Tenant without the necessity of
               paying a separate additional charge.

          g.   Costs incurred by Landlord in exercising remedies against tenants
               of the Real Property who violate terms of their leases.

          h.   Sums paid by Landlord for any indemnity, damages, fines, late
               charges, penalties or interest for late payment, or to correct
               violations of building codes or other laws or regulations
               relative to the Real Property which are not Tenant's obligation
               under the Lease.

          i.   Any costs incurred to remedy defects in the structure or systems
               of the building located on the Real Property which are not
               Tenant's obligations under the Lease.

                                       28
<PAGE>

          j.   Costs incurred to investigate and respond to hazardous materials
               contamination, exposure or release (including hazardous
               substances in the ground water or soil, provided the hazardous
               material was not stored, used or disposed of by Tenant in
               violation of law).

          k.   Any employee salaries and other compensation and/or health
               benefits or other such benefits for the personnel of Landlord
               above the level of building manager.

          l.   Costs of goods or services furnished by entities affiliated with
               Landlord to the extent that such costs exceed the cost that would
               have been incurred in an arm's length transaction with an
               unrelated party.

          m.   Costs of Landlord's general overhead and general administrative
               expenses (individual, partnership or corporate, as the case may
               be), which costs would not be chargeable to operating expenses
               of the Real Property under generally accepted accounting
               principles consistently applied.

          n.   Payments of principal, interest, ground rent or any other
               financing or refinancing costs on any mortgages, deeds of trust,
               ground leases or other encumbrances, whether secured or unsecured
               on the Real Property, including any equipment, fixtures or
               improvements therein, or any penalties or late charges relating
               thereto.

          o.   Depreciation and amortization of the building or any fixtures or
               improvements located on the Real Property; and

     C.   Upon request, Landlord will provide accountant's breakdown of
          operating costs compared against Base Year for any year in which an
          additional charge is billed to Tenant.

     D.   Any additional rent charged may be used as an estimate for the next
          year's billings and will be paid by Tenant in twelve (12) equal
          installments together with all other rent charges.  Any adjustments
          will be made based upon the following year's actual costs.

     E.   If Tenant disputes figures provided by Landlord's accountant, Tenant,
          at Tenant's sole cost, upon reasonable notice, may review the books
          and records within thirty (30) days' receipt of accountants'
          certification of costs.  All reviews shall take place at Landlord's
          place of business during normal working hours.  The books and records
          shall be kept in accord with generally accepted accounting principles
          consistently applied.

                                       29
<PAGE>

          In no event shall any rent adjustment hereunder result in a decrease
          in the fixed/minimum annual rent.

85.  ICIP Abatement
     --------------

     The Landlord and Tenant agree to cooperate in an application for ICIP
     Abatement of Taxes.

86.  Capital Improvements
     --------------------

     In the event any new law, rule, ordinance or regulation takes effect after
     the date hereof and requires the Landlord to do any work of a capital
     nature in the Demise Premises and/or the building, the Tenant shall pay, in
     equal monthly installments over the remainder of the lease term to the
     Landlord, 1/6th of the cost multiplied by the remaining months under the
     Lease divided by one hundred twenty (120).  The monthly payments shall
     commence within thirty (30) days after written demand together with a copy
     of the applicable invoice as for additional rent.

87.  Notices
     -------

     Supplementing the terms of Article 27 hereof, a copy of any notice by
     Tenant to Owner shall be sent to:

                            Et-Al Management Corp.
                            60 Morrow Avenue
                            Scarsdale, New York 10583

     and to:

                            Seymour Hurwitz, Esq.
                            36 West 44th Street
                            New York, New York 10036

     and a copy of any notice by Owner to Tenant shall also be sent to:

                            Coaxicom, Inc. (dba Community Telephone)
                            48-18 Court Square
                            Long Island City, N.Y. 11101

88.  Lease Not Binding Unless Executed and Delivered
     -----------------------------------------------

     This lease shall not bind Owner unless and until it has been (i) signed and
     delivered by Tenant; (ii) received and accepted by Owner; and (iii) then
     countersigned and redelivered by Owner to Tenant.  The execution and
     delivery of this Lease by Tenant shall constitute its irrevocable offer to
     enter into this Lease.  The Owner warrants and represents, upon which

                                       30
<PAGE>

     warranty and representation that he understands that the Tenant shall rely
     in the execution of this Lease, that Owner has the full right and lawful
     authority to execute this Lease for the term thereof.

     At Tenant's option, lease shall not be binding and all deposits and all
     advance payments will be returned to Tenant if space is not ready for
     occupancy by August 1 due to Landlord's unexcusable delay.  Landlord agrees
     to make best efforts to provide space as soon as possible.

89.  Tenant's Federal Tax I.D. Number
     --------------------------------

     Tenant states that its Federal Tax Identification Number (the "Number") is
     11-331-0798. From time to time, upon Owner's request, Tenant shall confirm
     in writing that the Number provided by Tenant is correct and, if it is
     missing or incorrect, what the correct number is. Tenant shall indemnify
     Owner from and against any and all liability for any claim, fine, penalty,
     cost or expense (including attorneys' fees) paid, suffered or incurred by
     reason of Tenant's failure to comply with this Article.

90.  Miscellaneous
     -------------

     A.   No Offer.

          This Lease is offered to signature by Tenant and it is understood that
          this Lease shall not be binding upon Landlord unless and until
          Landlord shall have executed and delivered a fully executed copy of
          this Lease to Tenant.

     B.   Signatories.

          If more than one person executes this Lease as Tenant, each of them
          understands and hereby agrees that the obligations of each of them
          under this Lease are and shall be joint and several, that the term
          "Tenant" as used in this Lease shall mean and include each of them
          jointly and severally and that the act of or notice from, or notice or
          refund to, or the signature of, any one or more of them, with respect
          to the tenancy and/or this Lease, including, but not limited to any
          renewal, extension, expiration, termination or modification of this
          Lease, shall be binding upon each and all of the persons executing
          this Lease as Tenant with the same force and effect as if each and all
          of them had so acted or so given or received such notice or refund or
          so signed.

     C.   Authority.

          If Tenant is a corporation or partnership, each individual executing
          this Lease on behalf of Tenant hereby represents and warrants that
          Tenant is a duly formed and validly existing entity qualified to do
          business in the State of New York and that

                                       31
<PAGE>

          Tenant has full right and authority to execute and deliver this Lease
          and that each person signing on behalf of Tenant is authorized to do
          so.

     D.   Merger.

          This Lease represents the entire understanding of the parties hereto
          and all prior understandings or agreements between the parties are
          merged in this agreement.

     E.   Pornographic Uses Prohibited.

          Tenant agrees that the value of the Demised Premises and the
          reputation of the Owner will be seriously injured if the premises are
          used for any obscene or pornographic purposes or any sort of
          commercial sex establishment or for certain other purposes.  Tenant
          agrees that Tenant will not bring or permit any obscene or
          pornographic material on the premises and shall not permit or conduct
          any obscene, nude or semi-nude live performances on the premises, nor
          permit use of the premises for nude modeling, rap sessions, or as a
          so-called "rubber goods shop", or as a sex club of any sort, or as a
          "massage parlor", nor shall the Demised Premises be used for erotic
          dancing, a night club or for the preparation or serving of food or
          beverages. Tenant further agrees that Tenant will not permit any of
          these uses by any sublessee or assignee of the premises.  This Article
          shall directly bind any successors in interest to the Tenant.  Tenant
          agrees that if, at any time, Tenant violates any of the provisions of
          this Article, such violation shall be deemed a breach of a substantial
          obligation of the terms of this Lease and objectionable conduct.
          "Pornographic material" is defined for purposes of this Article as any
          written or pictorial matter with prurient appeal or any objects or
          instruments that are primarily concerned with lewd or prurient sexual
          activity.

91.  Left Blank Intentionally.
     -------------------------

92.  Rent Commencement.  The sooner of January 1, 1999 or upon substantial
     -----------------
     completion of Tenant's installation.  See Paragraph 40.

93.  Left Blank Intentionally.
     ------------------------

94.  Left Blank Intentionally.
     ------------------------

95.  Left Blank Intentionally.
     ------------------------

96.  Building Services.  Building shall be operated with all services and common
     -----------------
     area maintenance as normally provided for similar office buildings in the
     area during normal business hours (including HVAC, janitorial services,
     electric current, etc.).  Tenant shall have 24-hours access seven (7) days
     a week except for freight elevator as indicated hereinabove.  Building is
     managed by Landlord.

                                       32
<PAGE>

97.  Left Blank Intentionally.
     ------------------------

98.  Landlord covenants and agrees to reasonably maintain the building in a
     neat, orderly, safe, and sanitary manner, including but not limited to,
     cleaning and maintaining the common areas and exterior of the building, bag
     and remove all garbage, snow and ice removal, pest and rodent extermination
     for common areas.

99.  Landlord has installed a central security system in the building with
     electronic card entry. Landlord shall provide sufficient entry cards to
     Tenant and Tenant's employees, not to exceed 10, at no charge to Tenant.
     Additional cards can be purchased by Tenant at ten (10%) percent above
     Landlord's cost.  Landlord shall also provide to Tenant, upon Tenant's
     request, security printouts and videotape, if any, at no charge to Tenant -
     not to exceed three (3) times per year.

100. Landlord represents to the best of its knowledge that the Building
     currently complies with the American Disabilities Act of 1990, and any
     amendments or regulations promulgated thereunder or any related or similar
     law (the "ADA"), and that throughout the term of this Lease Landlord shall
     make any and all necessary repairs and alterations to the Building,
     including the Demised Premises, required to comply with the ADA.

101. Left Blank Intentionally.
     ------------------------

102. By executing this lease, Owner represents that as of the date hereof, it
     has the resources to fulfill its obligations hereunder.

103. By executed this lease, Tenant represents that as of the date hereof, it
     has the resources to full its obligations hereunder.

104. With the signing of the lease, Tenant shall pay first month's rent in the
     amount of $11,759.83 and two month's security in the amount of $23,519.66
     as agreed.

105. Landlord will furnish additional security at each entry door, if possible,
     completed by 12/15/98, to Tenant's spaces in the form of card swipe or
     keypad systems, the cost of which to be shared equally by Landlord and
     Tenant.

     a.   Landlord agreed to give his "Best effort" to have a security guard in
          place by 3/1/99. The Landlord also agreed to position security cameras
          at the front and rear entrance of the building. (within a reasonable
          time after lease commencement).

106. The walls for the new offices will be gypsum board to slab for improved
     acoustical privacy.

                                       33
<PAGE>

WITNESSES:                          OWNER:  45-18 COURT SQUARE, LLC

____________________________        BY: ______________________________

                                    TENANT:   COAXICOM, Inc.
                                              (dba COMMUNITY TELEPHONE)

____________________________        BY: _______________________________

                                       1
<PAGE>

RIDER TO LEASES BETWEEN 45-18 COURT SQUARE ASSOC., LANDLORD AND COAXICOM, INC.
(DBA COMMUNITY TELEPHONE), AS TENANTS TO BE ATTACHED TO LEASES FOR OFFICE 502
AND OFFICE 403.

It is hereby agreed that Paragraph 101 is deleted from both leases dated May 27,
1998 and March 27, 1997 for offices located at 45-18 Court Square, Long Island
City.

45-18 SQUARE, LLC

BY: _______________________
          LANDLORD

COAXICOM, INC.
DBA COMMUNITY TELEPHONE,

BY: _______________________
        TENANT

                                       2
<PAGE>

                             RIDER ANNEXED TO LEASE
                             DATED OCTOBER 20, 1998
                                 BY AND BETWEEN
                      45-18 COURT SQUARE, LIC, AS LANDLORD
                                      AND

          COAXICOM, INC. (DBA COMMUNITY TELEPHONE/COMMUNITY NETWORK),
                                    AS TENANT

Landlord is defined as 45-18 Court Square, LLC, its partners, and successors in
interest.

40. Minimum Annual Rent
    -------------------

      A.     Possession of the Demised Premises shall be deemed to have been
             delivered upon delivery of keys by Landlord to Tenant at the
             address earlier set forth, the premises to be broom clean and
             January 1, 1999 or upon substantial completion as hereinafter set
             forth (hereinafter the "Possession Delivery Date"). Tenant to take
             occupancy and pay rent as of December 15, 1998. Please see
             paragraph 92.

      B.     Left Blank Intentionally.

      C.     Tenant covenants and agrees to pay to Landlord as Minimum Annual
             Rent on the first day of each month during the hereof, the
             following sums:

             (i)       Years 1 through 3 - One hundred forty-one thousand
                       one hundred eighteen dollars ($141,118.00) and no cents
                       payable in equal monthly installments of Eleven thousand
                       seven hundred fifty-nine dollars and ($11,759.83) eighty-
                       three cents per month.

      D.     Rent due for partial month(s) shall be prorated.

      E.     The above annual sum shall be paid in equal monthly installments,
             in advance, on the first day of each month during said term at the
             office of Owner or at such other place as Owner may designate,
             without offset or deduction whatsoever.

      F.     Tenant shall pay the first month's rent, in the sum of $11,759.83
             upon the execution of this lease, the receipt of which is hereby
             acknowledged. The payment of the first month's rent will be
             applied to the first full month following expiration of the
             abatement period.

                                       1
<PAGE>

41. Security Deposit
    ----------------

    Simultaneous with entry into possession of the Demised Premises, Tenant
    shall deposit with Owner the sum of $23,519.66 as security for the faithful
    performance and observance by Tenant of the terms, provisions and conditions
    of this Lease. It is agreed that in the event Tenant defaults in respect of
    any of the terms, provisions and conditions of this Lease, including, but
    not limited to, the payment of rent and additional rent, owner may use,
    apply or retain the whole or any part of the security so deposited to the
    extent required for the payment of any rent and additional rent or any other
    sum to which Tenant is in default or for any sum which Owner may expend or
    may be required by reason of Tenant's default in respect of any of the
    terms, covenants and conditions of this Lease, including but not limited to,
    any damages or deficiency in the re-letting of the premises, whether such
    damages or deficiency accrued before or after summary proceedings or other
    re-entry by Owner. Within thirty (30) days after receipt of written notice
    that Owner has made application of all or any part of the said security
    deposit, Tenant shall deposit with Owner such additional funds as are
    necessary to restore the security deposit to its original amount. In the
    event that Tenant shall fully and faithfully comply with all of the non-
    monetary terms, provisions, covenants and conditions of this Lease, the
    security not required to cure any monetary default or otherwise deducted as
    a result of the physical condition of the premises shall be returned to
    Tenant after the date fixed as the end of the Lease and after delivery of
    entire possession of the Demised Premises to Owner. In the event of a sale
    of the land and building or leasing of the building, of which the Demised
    Premises form a part, Owner shall have the right to transfer the security to
    the vendee or lessee and Owner shall thereupon be released by Tenant from
    all liability for the return of such security, and Tenant agrees to look to
    the new Owner solely for the return of said security; and it is agreed that
    the provisions hereof shall apply to every transfer or assignment made of
    the security to a new Owner. Tenant further covenants that, other than in
    connection with a valid disposition of this Lease in compliance with the
    terms of Article 64 hereof, it will not assign or encumber or attempt to
    assign or encumber the monies deposited herein as security and that neither
    Owner nor its successor or assigns shall be bound by any such assignment,
    encumbrance, attempted assignment or attempted encumbrance.

    Tenant shall, at all times, maintain a rent security deposit equal to two
    (2) month's rent. On each base rent increase date, Owner shall invoice
    Tenant for, and Tenant shall deposit, such further sums with Owner as are
    necessary to satisfy this obligation.

                                       2
<PAGE>

42. Restrictions on Use of the Demised Premises
    -------------------------------------------

    A.   Subject to the provisions of this Lease, Tenant shall use the Demised
         Premises only as offices in accordance with 3 the Certificate of
         Occupancy and for no other purposes.

    B.   Tenant shall not use or permit the use of the Demised Premises or any
         part thereof in any way that would violate any of the covenants,
         agreements, terms, provisions and conditions of this Lease or for any
         unlawful purpose or in any unlawful manner or in violation of the
         Certificate of Occupancy for the Demised Premises or the Building, and
         Tenant shall not suffer or permit the Demised Premises or any part
         thereof to be a used in any manner or for anything to be done therein
         or anything to be brought into or be kept therein that, in the judgment
         of Owner, shall in any way threaten to impair or adversely affect the
         character, reputation or appearance of the Building, the proper and
         economical operation of the Building or any systems, facilities or
         services used to operate or clean all or any part of the Building or
         the Demised Premises, or the use of any of the areas of the Building by
         Owner or any of the other Tenants or occupants of the Building. Tenant
         shall not install or use any equipment that, in the judgment of
         Landlord, could cause any adverse effect on the Demised Premises, the
         Building and/or the comfort and convenience of other Tenants and
         occupants of the building.

43. Landlord shall construct offices in accordance with layout drawn by Milowitz
    Group in accordance with the attached sketch, all finishes to building
    standard and in accordance with Building Codes. Any additions/changes
    required by Tenant must be agreed to in writing by both parties and shall be
    at Tenant's sole cost to be paid upon written agreement.

    A.    Landlord shall supply and install carpet and base at Landlord's cost.
          Tenant shall have option of choosing carpet from Landlord's samples.

    B.    Left Blank Intentionally.

    C.    Any work performed by Tenant or Tenant's contractors shall be
          performed in a good and workmanlike manner and shall comply with all
          rules and regulations of all Governmental Authorities having
          jurisdiction therein.

          If Tenant is providing build-out of space or makes any alterations to
          the space, the following paragraphs apply:

          Tenant, or any contractor or contractors employed by Tenant, or any
          other persons who will do work or install

                                       3
<PAGE>

          equipment for Tenant, shall be fully covered by Workmen's Compensation
          Insurance, and the Certificate by Tenant or any such contractor or
          persons as aforesaid. Tenant further covenants, at its own cost and
          expense, to take out and maintain at all times during the progress of
          such work and until completion thereof, public liability insurance
          policies covering Owner in compliance with the limits and such other
          conditions as set forth in Article 49 hereof, and certificates
          evidencing the policies shall be delivered to Owner prior to the
          commencement of any work hereunder.

E.        Tenant's contracts with its contractors and/or other persons who will
          perform work for the Tenant shall require said persons to look solely
          to the Tenant for payment and will hold Owner and the Building free
          from all liens and claims of all persons furnishing labor or materials
          therefor.

F.        Subject to the provisions of this Article, any and all machinery,
          equipment and fixtures installed by Tenant, which are not replacements
          of fixtures either furnished by Owner as part of Owner's work or pre-
          existing in the Demised Premises at the time of the commencement of
          this Lease (sometimes herein referred to as "Tenant's Property") shall
          remain personally, notwithstanding the fact that it may be affixed or
          attached to the realty, and shall, during the term of this Lease or
          any extension thereof, belong to and be removable by Tenant, provided
          that (a) Tenant shall remove said installations prior to the
          expiration of such term, and shall repair any damage caused by said
          removal and shall deliver the Demised Premises to Owner in the same,
          or better condition, as upon the commencement of the term hereof,
          reasonable wear and tear excepted. Prior to the expiration of the term
          or sooner termination thereof, Tenant shall at its own cost and
          expense remove, from the Demised Premises, all of Tenant's property,
          except such items thereof as Tenant shall have expressly agreed in
          writing with Owner are to become the property of the Owner and Tenant
          shall repair any damage to the Demised Premises resulting from such
          removal. Any Tenant's property remaining in the Demised Premises after
          termination of this Lease (except such items as Owner and Tenant have
          expressly agreed in writing are to remain and become the property of
          Owner) shall be deemed to have been abandoned by Tenant or any sub-
          Tenant and either may be retained by Owner as its property or may be
          removed from the premises by Owner at Tenant's expense.

G.        Machinery, fixtures, chattels or equipment, if any, furnished or
          installed by Tenant, the cost of which is

                                       4
<PAGE>

          borne by Owner, shall become the property of Owner upon payment
          therefor by Owner, or reimbursement of Tenant by Owner, as the case
          may be, and shall not be removed by Tenant. Anything herein contained
          to the contrary notwithstanding, it is understood and agreed that all
          structural improvements, all plumbing lines and equipment (other than
          fixtures), all electrical wiring, conduit and equipment (other than
          free-standing lighting fixtures), all heating and ventilating
          installations made by Tenant, whether with or without contribution or
          reimbursement by Owner, shall forthwith become part of the Building
          and property of Owner.

          Tenant's failure to comply with any of the items and conditions of
          this Article will be deemed a default pursuant to Article 17 hereof.

44. Utilities
    ---------

    A.    Electricity Service
          -------------------

          (1)    Landlord shall contract directly with the public utility
                 company for electric service for the Demised Premises. Tenant
                 shall be responsible for the payment of the cost of such
                 electric service. Such electric service may be furnished to
                 Tenant by means of the then existing electrical facilities
                 serving the Premises to the extent that the same are available,
                 suitable and safe for such purposes. Landlord will, prior to
                 the commencement date, install a sub-meter to measure Tenant's
                 electric usage and Tenant shall pay for such electric usage at
                 the rate charged to Landlord by the utility company plus a five
                 percent administrative fee.

          (2)    Any additional feeders or risers to be installed to supply
                 Tenant's additional electrical requirements, and all other
                 equipment proper and necessary in connection with such feeders
                 or risers shall be, at Landlord's option, installed by Landlord
                 upon Tenant's request, at the sole cost and expense of Tenant
                 (including a connection fee of Three Hundred Fifty Dollars
                 ($350.00) per kilovolt ampere, provided that, in Landlord's
                 reasonable judgment, such additional feeders or risers are
                 necessary and are permissible under applicable laws and
                 insurance regulations and the installation of such feeders or
                 risers will not cause permanent damage or injury to the
                 Building or the Premises or cause or create a dangerous or
                 hazardous condition or entail excessive or unreasonable
                 alterations or materially interfere with or disturb other
                 tenants or

                                       5
<PAGE>

                 occupants of the Building. Tenant covenants that, at no time,
                 shall the use of electrical energy in the Premises exceed the
                 capacity of the existing feeders or wiring installations then
                 serving the Premises. Tenant shall not make or perform or
                 permit the making or performance of any alterations to wiring
                 installations or other electrical facilities in or serving the
                 Premises or any additions to the business machines, office
                 equipment or other appliances in the Premises which utilize
                 electrical energy without the prior consent of Landlord in each
                 instance, which consent shall not be unreasonably withheld or
                 delayed.

          (3)    Landlord shall not be liable to Tenant in any way for any
                 interruption, curtailment or failure, or defect in the supply
                 or character of electricity furnished to the Premises by reason
                 of any requirement, act or omission of Landlord or of any
                 public utility or other company servicing the Building with
                 electricity or for any other reason, except if caused by
                 Landlord's negligence or willful misconduct.

                 Landlord reserves the right to estimate electric costs and
                 Tenant specifically agrees to Pay estimated costs per submeter
                 which shall be confirmed by an outside source monthly.

45. Services
    --------
    (1)   Cleaning services by Landlord at the additional charges of $1.50 per
          square foot, to building standards plus actual increases from outside
          cleaning company. No medical waste shall be removed by Landlord.

    (2)   HVAC - Landlord shall install the HVAC system and Landlord shall
          maintain and repair same during the term of the Lease at the
          Landlord's sole cost and expense and on the termination of the Lease,
          Tenant shall deliver the Premises with the HVAC system in working
          order, free and clear of all liens and encumbrances. Tenant shall pay
          for electricity for its own cooling, at its sole cost and expense,
          through the HVAC system.

    (3)   Service elevator other than Monday through Friday, 8:00 AM through
          4:00 PM, at the rate of $50.00 per hour, subject to 48-hour written
          notice.

                                       6
<PAGE>

46. Security Agreements
    -------------------

    A.    Tenant covenants and agrees that no security agreement, whether by way
          of conditional bill of sale, chattel, mortgage or instrument of
          similar import, shall be placed upon any improvement made by Tenant
          which is affixed to the realty.

    B.    In the event that any of the machinery, fixtures, furniture and
          equipment installed by Tenant in the Demised Premises are purchased or
          acquired by Tenant subject to a chattel, mortgage, conditional sale
          agreement other title retention or security agreement, Tenant
          undertakes and agrees (1) that no such chattel, mortgage, conditional
          sales agreement or other title retention or security agreement or
          Uniform Commercial Code filing statement shall be permitted to be
          filed as a lien against the building and real property of which the
          Demised Premises form a part, and (2) to cause to be inserted in any
          of the above-described title retention, chattel, mortgage or security
          agreements the following provision:

          "Notwithstanding anything to the contrary herein, this chattel,
          mortgage, conditional sale agreement, title retention agreement or
          security agreement shall not create or be filed as a lien against the
          land, building and improvements comprising the real property in which
          the goods, machinery, equipment, appliances or other personal property
          covered hereby are to be located or installed."

C.        If any such lien or UCC financing statement, based on an agreement as
          above described, is filed against the building and improvements, of
          which the Demised Premises form a part, Tenant will, upon at least ten
          (10) days' prior written notice thereof from Owner, cause such lien or
          notice to be removed or discharged at Tenant's cost and expense, and
          Tenant's failure to do so shall constitute a breach of a material
          provision of this Lease.

47. Mechanic's Liens
    ----------------

A.        Tenant shall have no power to do any act or make any contract which
          may create or be the foundation for any lien upon the reversion of
          Owner, the Premises herein Demised or Owner's building and
          improvements, it being agreed that should Tenant cause any
          alterations, changes, additional improvements or repairs to be made to
          the Demised Premises, or material furnished or labor performed therein
          or thereon, neither Owner for the

                                       7
<PAGE>

          Demise Premises shall, under any circumstances, be liable for the
          payment of any expenses incurred or for the value of any such work
          done or material furnished to the Demised Premises or any part
          thereof, but all such alterations, changes, additions, improvements
          and repairs and materials and labor shall be at Tenant's expense and
          Tenant shall be solely and wholly responsible to contractors,
          laborers, and materialmen furnishing labor and material to said
          premises and building, or any part thereof, for or on behalf of
          Tenant.

B.        Tenant shall not suffer or permit any mechanic's liens to be filed
          against the fee ownership of the Demised Premises nor against Tenant's
          leasehold interest in said premises, by reason of work, labor,
          services or materials supplied or claimed to have been supplied to
          Tenant or to any occupant of the Demised Premises. If any such
          mechanic's lien shall at any time be filed against the Demised
          Premises or the building and improvements thereon, Tenant shall, at
          its own cost and expense, cause the same to be cancelled and
          discharged of record by surety bond or appropriate cash deposit within
          thirty (30) days after the date of filing the same and notice thereof
          to Tenant, and Tenant shall indemnify and save harmless Owner from and
          against any and all costs, expenses, claims, losses or damages
          resulting therefrom or by reasons thereof.

C.        Tenant shall also defend on behalf of Owner, at Tenant's sole cost and
          expense, any action, suit or proceedings which may be brought thereon
          or for the enforcement of such liens or orders, and Tenant shall pay
          any damages and satisfy and discharge any judgment entered thereon and
          save harmless Owner from any claim or damage resulting therefrom.

D.        If Tenant shall fail to discharge such mechanic's lien within such
          period, then, in addition to any other right or remedy of Owner, Owner
          may, but shall not be obligated to, discharge the same, either by
          paying the amount claimed to be due or by procuring the discharge of
          such lien by deposit in court or bonding, and in any such event, Owner
          shall be entitled, if Owner so elects, to compel the prosecution of an
          action for the foreclosure of such mechanic's lien by the lienor and
          to pay the amount of the judgment, if any, in favor of the lienor,
          with interest, costs and allowances.

E.        Any amount paid by Owner for any of the aforesaid charges and all
          reasonable legal and other expenses of Owner, including reasonable
          counsel fees, in defending any such

                                       8
<PAGE>

          action in procuring the discharge of said lien, with all necessary
          disbursements in connection therewith, with interest thereon at the
          then legal rate of imputed interest from the date of payment, shall be
          repaid within a period of twenty (20) days after written demand
          therefor by Owner to Tenant, and may be treated as Additional Rent
          payable with the next installment of Annual Basic Rent.

    F.    Prior to the commencement of any work in the Demised Premises by any
          general contractor employed by Tenant or by any sub-contractors
          employed by such general contractor, or sub-contractors employed by
          Tenant, Tenant shall:

          (1)   furnish Owner with Tenant's written statement setting forth the
                name and business address of the Tenant's general contractor or
                sub-contractors employed by Tenant;

          (2)   obtain and furnish to Owner a written list of all sub-
                contractors employed or to be employed by Tenant's general
                contractor and certified by the general contractor.

48. Owner's Exculpation/No Recourse
    -------------------------------

     If the Owner or any successor-in-interest be an individual, joint venture,
     tenancy-in-common, co-partnership, unincorporated association, limited
     partnership or other unincorporated group of individuals, or a corporation
     (all of which are referred to below, individually, and collectively, as an
     "Owner Entity"), then, anything herein to the contrary notwithstanding,
     Tenant shall look solely to the interest of such Owner Entity in the
     building in satisfaction of Tenant's remedies for the collection of a
     judgment (or other judicial process) requiring the payment of money by
     Owner, in the event of any default or breach by Owner with respect to any
     of the terms, covenants and conditions of this Lease to be observed and/or
     performed by Landlord, and no other property or assets of such Owner Entity
     or any member thereof, shall be subject to levy, execution or other
     enforcement procedure for the satisfaction of Tenant's remedies.

49. Parties' Certificates
    ---------------------
     The Parties each shall, without charge at any time, and from time to time,
     within ten (10) days after request by the other, certify to any mortgagee,
     proposed assignee of any mortgagee, or proposed purchaser or any other
     person, firm or corporation specified by the requesting party:

                                       9
<PAGE>

    a)    That this Lease is unmodified and in full force and effect (or, if
          there has been modification, that the same is in full force and effect
          as modified and stating the modifications);

    b)    Whether or not there are then existing any set-offs or defenses
          against the enforcement of any of the agreements, terms, covenants or
          conditions hereof upon the part of the Tenant to be performed or
          complied with (and, if so, specifying the same); and

    c)    The dates, if any, to which the rental and other charges hereunder
          have been paid in advance.

50. Liability Insurance and Indemnification
    ---------------------------------------

    A.    During the term hereof, Tenant shall, at its own cost and expense:

          1)     Obtain, maintain and keep in force, for the benefit of Owner,
                 Managing Agent and Tenant, comprehensive general liability
                 insurance covering the risks in the limits set forth below, on
                 or about the Demised Premises (which shall include Tenant's
                 signs, if any):

                 a)     Bodily Injury:

                        Each person...........$1,000,000.00
                        Each Occurrence ......$1,000,000.00

                 b)     Property Damage:

                        Each Occurrence.......$  500,000.00

                 c)     Completed operations and contractual liability with the
                        same bodily injury and property damage limits stated in
                        (a) and (b) above.

                 d)     Fire and extended coverage for Tenant's fixtures,
                        alterations and inventory in an amount adequate to cover
                        the cost of replacement, but not less than $100,000.00.

    B.    Owner and its managing agent, Et-Al Management Corp., shall be named
          as an additional insured in said policies, as their interests may
          appear, and shall be protected against all liability occasioned by an
          occurrence insured against. All said policies of insurance shall be
          issued by insurance companies reasonably satisfactory to Owner and
          which are authorized to do business in the State of New York. Tenant
          shall deliver to Owner the policies of

                                       10
<PAGE>

          insurance, together with evidence of the payment of premiums thereon
          within ten (10) days of taking occupancy of the Demised Premises and
          furnish to Owner at least twenty (20) days prior to the expiration of
          any such policies, a new policy, with evidence of the payment or
          premiums thereon. The parties hereto agree that the payment of said
          premiums may be financed, as long as same are made and kept current.
          Said policies shall also provide that the insurer will give Owner at
          least thirty (30) days prior written notice of cancellation of said
          policy.

C.        Notwithstanding the limits of insurance specified in this Article,
          Tenant agrees to indemnify Owner, its agents, servants and employees
          against all damage, loss or liability resulting from any of the risks
          referred to in this Article. Such indemnification shall operate
          whether or not Tenant has placed and maintained the insurance
          specified in this Article and whether or not such proceeds from such
          insurance actually are collectible from one or more of the insurance
          companies; provided, however, that Tenant shall be relieved of its
          obligations of indemnity herein Pro Tanto of the amount actually
          recovered from one or more of the insurance companies by reason of
          injury or damage to, or loss sustained on the Premises.

D.        Tenant shall pay all premiums and charges for all of said policies,
          and if Tenant shall fail to make any payment when due or carry any
          such policy, Owner may, but shall not be obligated to, make such
          payment or carry such policy, and the amount paid by Owner, with
          interest thereon, shall be repaid to Owner by Tenant on demand, and
          all such amounts so repayable, together with such interest, shall be
          considered as Additional Rent payable hereunder for the collection of
          which Owner shall have all of the remedies herein or by law provided
          for the collection of rent. Payment by Owner of any such premium or
          the carrying by Owner of any such policy, shall not be deemed to waive
          or release the default of Tenant with respect thereto.

          Tenant must provide evidence of coverages prior to taking occupancy of
          leased space.

E.        Tenant acknowledges that Owner will not carry insurance of any kind on
          Tenant's furniture, furnishings, finishes, or wall coverings and/or
          fixtures, equipment, and improvements, and agrees that Owner shall not
          be obligated to repair any damage thereto or to replace the same.

                                       11
<PAGE>

F.        Landlord will maintain same type of liability insurance for all public
          spaces in building and will indemnify and defend Tenant for events
          which occur in the buildings common space due to Landlord/Owner's
          negligence.

51. Tenant's Conduct of Business
    ----------------------------

     Tenant covenants and agrees:
     A.    To do all things necessary to keep the Demised Premises clean,
           orderly and neat at all times, and to prevent odors, all at Tenant's
           sole cost and expense, and to conduct its business in a proper
           manner.

     B.    That Tenant shall conduct its operations in the Demised  Premises in
           an orderly and proper manner so as not to annoy, disturb or be
           offensive to others.

     C.    That Tenant shall not, at any time, discharge into the plumbing,
           sewage or drainage system, any waste materials which will result in
           the creation of a blockage in said system or otherwise adversely
           affect the proper and clean maintenance and operation thereof.

     D.    That Tenant, at its sole cost and expense, shall provide regular
           exterminating and pest control services using Landlord's exterminator
           in the Demised Premises at a regular intervals, in order to prevent
           the occurrence of any vermin in or about the Demised Premises.

52.  Adjustment of Rent for Increases in Real Estate Tax
     ---------------------------------------------------

     See Paragraph 83.

53. Assignment and Sub-letting Provisions
    -------------------------------------

    Tenant may not assign this Lease under any circumstances without the prior
    written consent of Owner, which consent may be withheld for any reason or
    for no reason whatsoever.

54. Rent Arrears, Etc.: Supplementing Article 25 of the printed form of lease:
    -------------------

    A.    Owner, at Owner's option, shall have the right, when Tenant is in
          default in the payment of Fixed Rent or Additional Rent, to demand
          payment by certified, bank or teller's check, or by postal money
          order.

    B.    In the event that any payment under this Lease shall be made in the
          form of a check from any person, firm or corporation other than the
          person, firm or corporation named in this Lease, the acceptance of
          same by Owner shall not, under any circumstances, be deemed
          recognition

                                       12
<PAGE>

          of a sub-letting or any assignment of this Lease, regardless of the
          number of times that such payment shall be made by such other person,
          firm or corporation.

    C.    Late Charge. If Tenant shall fail to pay all or any part of any
          installment of Fixed Rent or Additional Rent for more than ten
          (10) days after the same shall have become due and payable (including
          the dishonor of a payment made by check, even if such check was
          tendered in a timely manner), Tenant shall pay as Additional Rent
          hereunder to Owner a late charge of six (6) cents for each dollar of
          the amount of such Fixed Rent or Additional Rent which

          shall not have been paid to Owner within said ten (10) day period, in
          addition to any other right or remedy available due to such late
          payment.

    D.    In the event that any check paid by or for the benefit of Tenant to
          Owner is dishonored, Tenant shall pay Owner as Additional Rent
          hereunder a charge of One Hundred Dollars ($100.00) in addition to any
          other late charge or right or remedy available due to such dishonored
          payment.

55. Additional Rent
    ---------------

    A.    All payments, other than Minimum Annual Rent required to be made by
          Tenant pursuant to this Lease (including, but not limited to,
          escalation charges, and any and all damages, interest, costs, fees and
          expenses caused by Tenant's default) shall be deemed additional rent
          and, in the event of any non-payment thereof, Owner shall have all
          rights and remedies provided for herein and by law for non-payment of
          Minimum Annual Rent in addition to whatever other remedies may be
          available to Owner.

    B.    Unless expressly provided otherwise in this Lease, the amount shown as
          due to Owner (or Owner's agent) in all bills, invoices and statements
          to Tenant shall be due and payable by Tenant upon receipt without
          further demand. Any delay or failure of Owner or its agent to prepare
          and deliver any bill, statement or invoice shall not constitute a
          waiver of the right to collect any payment which may have become due
          during the term of this Lease, including without limitation,
          retroactive payments for any and all amounts unbilled.

    C.    All payments of Minimum Annual Rent and additional rent pursuant to
          this Lease shall be made by Tenant with checks drawn upon a New York
          City bank. If Owner receives from Tenant any payment less than the
          full amount of the Minimum Annual Rent and additional rent then due
          and owing, Tenant hereby waives its right, if

                                      13

<PAGE>

          any, to designate the items to which such payment shall be applied
          and agrees that Owner, in its sole discretion, may apply such payment
          in whole or in part to any Minimum Annual Rent, any additional rent or
          to any combination thereof then due and payable hereunder.

    D.    The losing party in any action or proceeding between Owner and Tenant
          shall pay the reasonable attorneys' fees, costs and disbursements of
          the prevailing party for such action or proceeding upon the assignment
          thereof by the Court or on demand. If a default of Tenant causes Owner
          to prosecute or defend an action or proceeding with a third party,
          Tenant shall pay the reasonable attorneys' fees, costs and
          disbursements of Owner for such action or proceeding on demand. If
          Owner suffers, pays or incurs any damages, losses, fees or expenses
          (including without limitation, reasonable attorneys' fees and
          disbursements) due to a default, act, omission or request of Tenant,
          Tenant shall pay the total amount thereof to Owner on demand.

    E.    If all rent is not paid in full and actually received by Owner within
          fifteen (15) days after it is due and payable hereunder, Tenant shall
          pay Owner a late fee of 2% per month as additional rent. However, if
          the collection of such late fee at the rate specified herein would be
          usurious or otherwise unenforceable, interest on late payments shall
          accrue at the highest enforceable rate.

    F.    References in this Lease to "rent," "Rent," "rents," "Rents,"
          "rental," "Rental," "rentals" and "Rentals" shall mean and include
          Minimum Annual Rent and additional rent. The Minimum Annual Rent is
          the minimum rental due and payable without prior demand, offset or
          deduction. No decrease in any additional rent for any period shall
          yield an offset or deduction in any other rental or for any other
          period. References in this Lease to Tenant being "in default" and/or
          Tenant's "breach" or  "default" shall mean and include each and every
          default, breach, misfeasance, nonfeasance, non-payment, or any other
          failure of Tenant to perform any of its obligations hereunder. If
          Owner gives notice of default and Tenant seeks declaratory relief and
          Tenant's time to cure is extended pending the outcome of such
          declaratory judgment action, Tenant shall be deemed to be "in
          default" under this Lease during the pendency of such action for the
          purposes of those rights that are exercisable by Tenant only if it is
          not "in default". All of Tenant's obligations to pay rent, to
          indemnify Owner and to obtain insurance shall survive the expiration
          of the term or sooner termination of this Lease.

                                      14

<PAGE>

    G.    Owner's managing agent, Et-Al Management Corp., may give notices,
          demands, invoices, statements and/or bills to Tenant in Owner's
          behalf; any such notice, statement, invoice, demand or bill shall be
          deemed to have been given by Owner.

     H.   The provisions of this Article shall supplement (not limit) other
          provisions of this Lease pertaining to the same matters as this
          Article and related matters.

56. Owner's Right of Entry
    ----------------------

    A.    Tenant shall permit Owner to erect, use, maintain and repair pipes,
          cables, conduits, plumbing, vents and wiring in, to and through the
          Demised Premises, as and to the extent that Owner may now or hereafter
          deem to be necessary or appropriate for the proper operation and
          maintenance of the building of which the Demised Premises are a part.
          All such work shall be done, so far as practicable, in such manner as
          to avoid interference with Tenant's use of the Demised Premises, and
          as expeditiously as possible. The liability of Owner, if any, under
          this Article shall be limited to the prompt repair, at the sole cost
          and expense of Owner, of any damage caused to the Demised Premises by
          the Owner in the course of doing work under this paragraph.

    B.    Upon providing forty-eight (48) hours advance written notice, Owner,
          or its agents or assignees, shall have the right to enter the Demised
          Premises during business hours for the purpose of making such repairs
          or alterations as Owner shall be required or shall have the right to
          make by the provision of this Lease. Owner shall attempt to do all
          such work at a time, and in a manner, that will not unreasonably
          inconvenience Tenant, significantly diminish Tenant's floor area or
          significantly disrupt Tenant's architectural layout. Owner shall be
          allowed to take all material into and upon the Demised Premises that
          may be required for repairs or alterations, without constituting an
          eviction of Tenant, in whole or in part, so long as any repair work by
          Owner is diligently prosecuted to completion. Owner shall also have
          the right, without prior written notice, to enter the Demised Premises
          at such other times as such entry may be required by circumstances of
          emergency affecting the Demised Premises or the building containing
          the same. In addition, Owner, or its agents or assignees, shall have
          the right to enter the Demised Premises upon providing twenty-four
          (24) hours prior written notice during business hours for the purpose
          of inspecting the general condition and state of repair of the
          Premises and the showing of the Premises to any prospective purchaser
          or

                                      15
<PAGE>

          mortgagee, such entry and inspection to be conducted in a manner
          calculated to not unreasonably interfere with the operation of
          Tenant's business or its customers.

     C.   The rights granted to Owner by the terms of this Article shall be
          deemed supplementary to the provisions set forth in Article 13 of the
          printed portion of this Lease.

57.  Suspension of Services
     ----------------------

     Anything in this Lease to the contrary notwithstanding, Owner reserves the
     right to suspend the service of any utilities, when necessary by reason of
     accident or of repairs, alterations or improvements necessary to be made in
     the Demised Premises or the building of which it is a part, until such
     repairs, alterations or improvements shall have been completed, and Owner
     shall have no responsibility or liability for such suspension of services,
     provided Owner proceeds with diligence and continuity to complete such
     repairs, alterations or improvements and uses its best efforts to restore
     such services as soon as practicable. The foregoing shall not be deemed to
     impose upon Owner any obligations for the furnishing of any service,
     maintenance or repair other than is specifically set forth in this Lease.
     Owner will provide 72 hours advance notice of any planned service
     suspension which is for regular maintenance purposes. No notice shall be
     required for emergency suspension of service resulting from an accident or
     other unanticipated event.

58.  Condemnation
     ------------

     A.   If the whole of the Demised Premises shall be taken under the power of
          eminent domain of any public or private authority, then this
          Lease and the term thereof shall cease and terminate, as of the date
          of such taking and any unearned rent or other charges, if any,
          paid in advance, shall be refunded to Tenant.

     B.   In the event that only a portion of the Demised Premises shall be
          taken under the power of eminent domain by any public or private
          authority, then this Lease and the term thereof shall continue in full
          force and effect, at option of either the Owner or the Tenant,
          provided, however, that Owner shall, at its expense forthwith restore
          what may remain of the Demised Premises to substantially the same
          condition as prior to the condemnation. There shall be a pro rata
          abatement of basic rent hereunder to the extent that the amount of
          floor space so taken compares to the amount of floor space prior to
          such condemnation, to compensate Tenant for its loss of use of such
          portion of the Demised Premises. The minimum rent reserved herein, and
          any

                                      16
<PAGE>

          other charges payable to Tenant hereunder, shall be suspended
          (provided Tenant is not then using the Demised Premises) for the
          period from the date of the taking until the remainder of the Demised
          Premises shall have been restored as aforesaid.

     C.   Tenant shall not be entitled to any award for the loss of or loss in
          value of the leasehold, but only to an award for loss of or damage to
          its fixtures and/or equipment and to moving expenses, all to the
          extent allowed and solely in the event that such allowance does not,
          in any way, diminish the award to Owner. The respective damages to
          which Owner and Tenant are entitled by reason of any such taking shall
          be fixed and paid, respectively, to Owner and Tenant, as their
          interests appear, and in no event shall there be a merger of interest.

     D.   Within fifteen (15) days after Owner receives written notice of any
          such taking or intention to take under power of eminent domain, Owner
          shall forward a copy thereof to Tenant.

59.  Damage or Destruction
     ---------------------

     A.   If the Demised Premises shall be partially damaged by fire or other
          casualty, the damaged portions of the Demised Premises (but not
          Tenant's trade fixtures or personal property) shall be repaired by and
          at the expense of Owner (unless such fire or casualty resulted, in
          whole or in part, from any act or omission, whether negligent or
          otherwise, of Tenant or his agents, servants, contractors, employees,
          invitees, or assigns, in which case such repairs shall be at the cost
          and expense of Tenant), and the rent until such repairs shall be made
          shall be apportioned according to the part of the Demised Premises
          which is usable by Tenant. If Tenant shall have paid rent in advance,
          Owner shall repay to Tenant an amount equal to that portion of rent so
          paid in advance, payment of which is abated.

     B.   If the Demised Premises are totally damaged or are rendered wholly
          untenantable by fire or other casualty, Owner shall, within sixty (60)
          days after such fire or other casualty, give Tenant written notice of
          Owner's election whether:

          1)   To terminate this Lease and thereupon the term of this Lease
               shall expire by lapse of time upon the third (3rd) day after such
               notice is given, and Tenant shall vacate the Demised Premises and
               surrender the same to Owner. If Tenant shall not be in default
               under this Lease, or if any monetary

                                       17
<PAGE>

          default existing at the time of the giving of such a notice is cured
          in full within three (3) days after delivery of said notice, then upon
          the termination of this Lease under the conditions provided for in the
          sentence immediately preceding, Tenant's liability for rent accruing
          subsequent to the fire or casualty shall cease and be apportioned as
          of the day following such fire or casualty, or

     2)   To restore or rebuild the Demised Premises in character, layout, area
          and equipment (but not Tenant's trade fixtures or personal property)
          substantially equal to the premises damaged or destroyed immediately
          prior to such damage or destruction, and it is agreed that in such
          event, this Lease shall continue in full force and effect, but the
          rent, the additional rent, and all other payments and obligations of
          Tenant shall abate as of the date of such fire or other casualty,
          until the Demised Premises shall have been fully and completely
          restored or rebuilt by Owner and possession thereof shall have been
          delivered to Tenant.

          Should Owner elect to send Tenant written notice under subparagraph
          (1) of this Article 56B, and thereafter, within one (1) year of the
          giving of such notice, act nevertheless to restore or rebuild the
          Demised Premises in character, layout, area and equipment (but not
          Tenant's trade fixtures or personal property) substantially equal to
          the premises damaged or destroyed immediately prior to such damage or
          destruction, then and in such event, Owner agrees to give Tenant a
          thirty (30) day unilateral option to be exercised by Tenant in the
          method and manner otherwise set forth in this Lease, to resume
          occupancy for the remaining balance of the original lease term under
          all of the other terms and conditions set forth in this Lease.

C.   Owner shall not be liable for reasonable delay under the foregoing
     subparagraphs A or B if such delay arises by reason of adjustment of
     insurance on the part of Owner and/or Tenant or the reasonable delay on
     account of any cause beyond the control of Owner or contractors employed by
     Owner, including, but not limited to strikes, labor disputes and shortages
     of material.

D.   Tenant hereby expressly waives the provisions of Section 227 of the Real
     Property Law and of any law now in force or hereafter enacted which, in
     substance, provides for termination of a lease of real property by reason
     of

                                       18
<PAGE>

          destruction or untenantability of the Premises demised thereunder
          caused by fire or other casualty and agrees that the provisions of
          this Article 57 shall govern and control in lieu of any such
          provisions of law.

60.       Signs
          -----
     A.   Tenant shall not, without Owner's prior written consent, place or
          install any sign on the exterior of the Demised Premises, or the
          building of which it is a part, or on the inner or outer faces of the
          windows or doors of the Demised Premises. Tenant shall be permitted to
          install and maintain, at its own cost and expense, an exterior sign,
          provided the same receives the prior approval of Owner as to
          dimensions, shape, design, size, color, wording, material of
          composition and location. Tenant agrees that any exterior sign
          approved by Owner shall not be installed until all approvals and
          permits are first obtained by Tenant from governmental agencies having
          jurisdiction thereover and that all fees payable in connection with
          such installation, maintenance and permits shall be paid by Tenant.

     B.   Tenant shall not place in the windows or in any display or other area
          visible to public view from the outside of the Demised Premises any
          flashing, blinking or animated sign or one which otherwise has
          variations in the intensity of illumination without first obtaining
          Owner's prior written approval.

     C.   Tenant shall not, after having obtained the approval of Owner, change
          or alter any sign in any respect whatsoever, including but not limited
          to size, material of composition or location, without first obtaining
          the prior written approval of Owner, except that Tenant may change the
          phraseology in a sign previously approved by Owner without additional
          approval.

     D.   In the event that Owner shall deem it necessary to remove any sign of
          Tenant in order to make any repairs, alterations or improvements in,
          to or upon the Demised Premises, or the building of which it is a
          part, Owner shall have the right to do so, provided the same be
          removed and replaced at Owner's expense, promptly upon completion of
          such repair, alteration or improvements.

61.  Replacement of Plate Glass
     --------------------------

     Tenant shall, at its own cost and expense, replace any and all plate or
     other glass damaged or broken from any cause whatsoever in and about the
     Demised Premises. Tenant shall, at its own cost and expense, either insure
     and keep insured

                                       19
<PAGE>

     all such glass in stock companies authorized to do business in the State of
     New York, naming the Owner as a party insured thereunder, or may act as a
     self-insurer for plate glass.

62.  Holdover by Tenant
     ------------------

     Tenant will have no right to remain in possession of all or any part of the
     Demised Premises after the expiration of the term. If Tenant remains in
     possession of all or any part of the Demised Premises after the end of said
     term, with the express or implied consent of Owner: (a) such tenancy will
     be deemed to be a periodic tenancy from month-to-month only; (b) such
     tenancy will not constitute a renewal or extension of this Lease for any
     further term; and (c) such tenancy may be terminated by Owner upon the
     earlier of thirty (30) days prior written notice or the earliest date
     permitted by law. In such event, monthly rent (the reasonable value of use
     and occupancy) will be increased to an amount equal to one-half (l/2) of
     the sum of the Minimum Annual Rent plus all additional rentals payable
     during the last year of the term, and any other sums due for additional
     rent under this Lease will be payable in the amount and at the times
     specified in this Lease. Such month-to-month tenancy will be subject to
     every other term, condition and covenant contained in this Lease. Neither
     the billing nor the collection of use and occupancy in the above amount
     shall be deemed a waiver of any right of Owner to collect damages for
     Tenant's failure to vacate the Demised Premises after the expiration or
     sooner termination of this Lease. The provisions of this Article shall
     survive the expiration or sooner termination of this Lease. In the event a
     renewal lease is executed by all parties within ninety (90)days of the
     expiration date and all rent has been paid timely, the rent will be
     adjusted retroactively to the renewal rate.

63. Broker
    ------

     Tenant and Owner covenant, warrant and represent to each other that neither
     has had any dealings with any real estate broker, agent or finder in
     consummating the Lease other than Aegis Realty, Equis, and Sholom
     & Zuckerbrot and that no conversation or prior negotiations were had with
     any individual or entity other than Aegis Realty, Eguis, and Sholom
     & Zuckerbrot concerning the renting of the Demised Premises. In reliance
     upon such representation, Owner agrees to pay any commission due to Aegis
     Realty, Eguis, Shalom & Zuckerbrot. The parties agree to hold each other
     harmless from and against any claims for brokerage commissions arising out
     of any conversation of negotiations had by The Tenant with any other
     broker.

                                       20
<PAGE>

64.  Subordination and Attornment
     ----------------------------

     A.   This Lease, and all rights of Tenant hereunder, are and shall be
          subject and subordinate in all respects to all mortgages and building
          loan agreements, including without limitation, mortgages and building
          loan agreements and leasehold mortgages which may now or hereafter
          affect the Land and/or the Building and/or any of such Leases, whether
          or not such mortgages shall also cover other lands and/or buildings,
          to each and every advance made or hereafter to be made under such
          mortgages and/or building loan agreements, and to all renewals,
          modifications, replacements, assignments, and extensions of such
          Leases, building loan agreements, mortgages and spreaders and
          consolidations of such mortgages. This Article shall be self-operative
          and no further instrument of subordination shall be required. In
          confirmation of such subordination, Tenant shall promptly, at its sole
          cost and expense, execute and deliver any instrument in recordable
          form that Owner, the lessor of any such Lease or the holder of any
          such mortgage or any of their respective assigns or successors in
          interest may reasonably request to evidence such subordination and the
          Tenant hereby constitutes and appoints Owner the attorney-in-fact for
          Tenant to execute any such instrument for and on behalf of Tenant in
          the event Tenant fails to execute such instrument within ten (10)
          days following delivery of written request therefor. The Leases to
          which this Lease is, at the time referred to, subject and subordinate
          pursuant to this Article, are hereinafter sometimes called "Superior
          Leases" and the mortgages to which this Lease is, at the time
          referred to, subject and subordinate, are hereinafter called "Superior
          Mortgages" and the Lessor of a Superior Lease or its successor in
          interest at the time referred to is sometimes hereinafter called a
          "Lessor" and the holder of a Superior Mortgage or its successor in
          interest at the time referred to is sometimes hereinafter called a
          "Holder". This provision supplements Article 7 of this Lease.

     B.   In the event of any act or omission of Owner which would give Tenant
          the right, immediately or after lapse of a period of time, to cancel
          or terminate this lease, or to claim a partial or total eviction,
          Tenant shall not exercise such right (l) until it has given written
          notice of such act or omission to the holder of each Superior Mortgage
          of record as of the date of the execution of this Lease, or of
          which Owner has given Tenant written notice, and (2) unless such act
          or omission shall be one which is not capable of being remedied by
          Owner or such Holder within a reasonable period of time, until a

                                       21
<PAGE>

          reasonable period of time for remedying such act or omission shall
          have elapsed following the giving of such notice and following the
          time when such Holder shall have become entitled under such Superior
          Mortgage to remedy the same (which reasonable period shall in no event
          be less than the period to which Owner would be entitled under this
          Lease or otherwise, after similar notice, to effect such remedy),
          provided such Holder shall, with due diligence give Tenant written
          notice of its intention to, and commence and continue to, remedy such
          act or omission. As of the date hereof, the parties entitled to
          receive notice under this Paragraph 63C are as follows:

          45-18 Court Square LLC and 45-18 Equity, at
          60 Morrow Avenue
          Scarsdale, NY 10583

          In the event of any changes, notification will be given to tenant.

     C.   If the fee owner of the building which includes the Demised Premises,
          or the Holder of a Superior Mortgage, shall succeed to the rights of
          Owner under this Lease, whether through possession or foreclosure
          action or through termination for any reason of the leasehold estate
          covering the building which includes the Demised Premises or by
          delivery of a new lease or deed, then, at the request of such party so
          succeeding to Owner's rights (herein sometimes called "Successor
          Owner") and upon such a Successor Owner's written agreement to accept
          Tenant's attornment, Tenant shall attorn to and recognize such
          Successor Owner as Tenant's Landlord under this Lease. The foregoing
          provisions shall inure to the benefit of any such Successor Owner, and
          shall be self-operative upon any such demand, without requiring any
          further instrument to give effect to said provisions. Tenant, however,
          upon demand of any such Successor Owner, agrees to execute, from time
          to time, an instrument in confirmation of such attornment which is
          satisfactory to such Successor Landlord. Upon such attornment, this
          Lease shall continue in full force and effect for the remainder of the
          term originally demised under this Lease, as or as if it were a direct
          lease between the Successor Owner and Tenant upon all of the terms,
          covenants, conditions, agreements and provisions, as are set forth in
          this Lease, except that the Successor Owner shall not:

          1)   be subject to any offset not expressly provided for in this
               Lease.

                                       22
<PAGE>

          2)   be bound by any previous modification of this Lease not expressly
               provided for in this Lease, or by any previous pre-payment of
               more than one month's rent, unless such modification or
               prepayment shall have been expressly approved in writing by the
               Successor Owner through or by reason of which the Successor
               Landlord shall have succeeded to the rights of Owner under this
               lease.

     D.   Owner covenants and represents that it knows of no outstanding
          lawsuits, claims or judgments affecting or limiting Owner's right or
          authority to perform under this lease.

65.  Left Blank Intentionally
     ------------------------

66.  Modification - Financing
     ------------------------

     If, in connection with Owner's obtaining financing for the Real Property or
     any portion thereof, a bank, insurance company or other lending institution
     shall request reasonable modifications of this Lease as a condition to such
     financing, Tenant will not unreasonably withhold, delay or defer its
     consent thereto, provided that such modifications do not increase the
     obligations of Tenant hereunder or adversely affect the leasehold interest
     hereby created or otherwise and adversely affect Tenant's rights hereunder.

67.  Conditional Limitation
     ----------------------

     In the event that in any twelve (12) month period (A)a nonmonetary default
     of the kind set forth in Article 17(l) shall have occurred or (B) Tenant
     shall have defaulted in the prompt payment of Minimum Annual Rent or
     Additional Rent, or any part of either, and Owner shall have commenced a
     summary proceeding to dispossess Tenant in each such instance, then,
     notwithstanding that such defaults may have been cured at any time after
     the commencement of such summary proceeding, any two (2) further defaults
     by Tenant within the ensuing twenty-four (24) month period shall be deemed
     to be a violation of a substantial obligation of this Lease by Tenant and
     Owner may serve a written three (3) days, notice of cancellation of this
     Lease upon Tenant and, upon the expiration of said three (3) days, this
     Lease and the term shall end and expire as fully and completely as if the
     expiration of such three (3) day period were the day herein definitely
     fixed for the end and expiration of this Lease and the term and Tenant
     shall then quit and surrender the Demised Premises to Owner, but Tenant
     shall remain liable as elsewhere provided in this Lease. Tenant's payment
     of Minimum Annual Rent and/or Additional Rent shall be considered "prompt"
     if received by Owner within ten (10) days of the date that same is due.

                                       23
<PAGE>

68.  Bankruptcy
     ----------

     Without limiting any of the provisions of Article 16, 17 or 18 hereof, if
     pursuant to the Bankruptcy Code of 1978 and the Bankruptcy Code of 1986, as
     the same may be amended, Tenant is permitted to assign this Lease in
     disregard of the restrictions contained in Article 11 or any other
     provision of this Lease. Tenant agrees that adequate assurance of future
     performance by the assignee permitted under such Code shall mean deposit of
     cash security with Owner in an amount equal to the sum of one year's
     Minimum Base Rent then reserved hereunder plus an amount equal to all
     additional rent payable under the provisions of this Lease for the calendar
     year preceding the year in which such assignment is intended to become
     effective, which deposit shall be held by Owner, without interest, for the
     balance of the term of this Lease as security for the full and faithful
     performance of all of the obligations under this Lease on the part of
     Tenant yet to be performed. If Tenant receives or is to receive any
     valuable consideration for such an assignment of this Lease, such
     consideration, after deducting therefrom (A) the brokerage commissions, if
     any, and other expenses reasonably incurred by Tenant for such assignment
     and (B) any portion cf such consideration reasonably designated by the
     assignee as paid for the purchase of Tenant's property in the demised
     premises, shall be and become the sole and exclusive property cf Owner and
     shall be paid over to Owner directly by such assignee. In addition,
     adequate assurance shall mean that any such assignee of this Lease shall
     have a net worth, exclusive of good will, equal to at least fifteen
     (15) times the aggregate of the Minimum Annual Rent reserved hereunder plus
     all additional rent for the preceding calendar year as aforesaid.

69.  Hazardous Materials
     -------------------
A.   For purposes of this Lease, "hazardous materials" means any explosives,
     radioactive materials, hazardous wastes, or hazardous substances,
     including without limitation, substances defined as "hazardous substances"
     in the Comprehensive Environmental Response, Compensation and Liability Act
     of 1980, as amended, 42 U.S.C. #9601-9657; the Hazardous Materials
     Transportation Act of 1975, 49 U.S.C. #1801-1812; the Resource Conservation
     and Recovery Act of 1976, 42 U.S.C. #6901-6987; or any other similar laws
     (collectively, "hazardous materials laws").

B.   Tenant will not cause or permit the storage, use, generation, or
     disposition of any hazardous materials in, on, or about the demised
     premises or the Building by Tenant, its agents, employees or contractors.
     Tenant will not permit the Demised Premises to be used or operated in a
     manner that may cause the Demised Premises

                                       24
<PAGE>

     or the Building to be contaminated by any hazardous materials in violation
     of any hazardous materials laws. Tenant will immediately advise Owner in
     writing of (1) any and all enforcement, cleanup, remedial, removal, or
     other governmental or regulatory actions instituted, completed or
     threatened pursuant to any hazardous materials laws relating to any
     hazardous materials affecting the Demised Premises; and (2) all claims made
     or threatened by any third party against Tenant, Owner, or the Demised
     Premises relating to damage, contribution, cost recovery, compensation,
     loss, or injury resulting from any hazardous materials on or about the
     Demised Premises. Without Owner's prior written consent, Tenant will not
     take any remedial action or enter into any agreements or settlements in
     response to the presence of any hazardous materials in, on or about the
     Demised Premises.

C.   Tenant will be solely responsible for and will defend, indemnify and hold
     Owner, its agents and employees, harmless from and against all claims,
     costs and liabilities, including attorneys' fees and costs, arising out
     of or in connection with Tenant's breach of its obligations in this
     Article, including, but not limited to, the removal, cleanup and
     restoration work and materials necessary to return the Demised Premises and
     any other property of whatever nature located on the Building to their
     condition existing prior to the appearance of Tenant's hazardous
     materials on the Demised Premises. Tenant's obligations under this Article
     will survive the expiration or other termination of this Lease.

70.  Left Blank Intentionally
     ------------------------

71.  Occupancy Prior to Commencement Date
     ------------------------------------

     In the event that Owner permits Tenant to occupy the Demised Premises prior
     to the commencement date, such occupancy shall be upon all of the terms and
     conditions contained in this Lease except that Tenant shall pay a pro-rated
     rent for the period to the commencement date and shall be responsible for
     all other charges provided for under the Lease.

72.  Waste Removal, Etc.
     ------------------

     Tenant shall, at its own cost and expense, promptly dispose of all garbage,
     ashes and waste arising from the conduct of its business in the
     Demised Premises at such times and in such manner so as to avoid any
     obnoxious or offensive smells or odors therefrom or otherwise
     materially interfering with the comfort and quiet enjoyment of the other
     occupants of the

                                       25
<PAGE>

     building. Tenant further covenants and agrees, at the Tenant's own cost
     and expense, to keep the drain waste and connections with mains free from
     obstruction to the reasonable satisfaction of the Landlord, its agents and
     all authorities having jurisdiction thereof. Tenant further covenants and
     agrees that Tenant will, at Tenant's own cost and expense, keep and
     maintain the interior in good order and repair. (See paragraph 45(i) of
     Rider).

73.  Irrespective of the place of execution or performance, this agreement shall
     be governed by and construed in accordance with the laws of the State of
     New York. This agreement shall be construed without regard to any
     presumption or other rules requiring construction against the party causing
     this agreement to be drafted. If any words or phrases in this agreement
     shall have been stricken out or otherwise eliminated, whether or not any
     other words or phrases have been added, this agreement shall be construed
     as if the words or phrases so stricken out or otherwise eliminated were
     never included in this agreement and no implication or inference shall be
     drawn from the fact that said words or phrases were so stricken out or
     otherwise eliminated. All terms and words used in this agreement,
     regardless of the number or gender in which they are used, shall be deemed
     to include any other number and any other gender, as the context may
     require.

74.  Left Blank Intentionally
     ------------------------

75.  Notice of Owner's Default
     -------------------------

     In the event of any alleged default in the obligation of Owner under this
     Lease, Tenant will deliver to Owner written notice listing the reasons for
     Owner's default and Owner will have thirty (30) days following receipt of
     such notice to cure such alleged default or, in the event that the alleged
     default cannot reasonably be cured within a thirty (30) day period, to
     commence action and proceed diligently to cure such alleged default. A copy
     of such notice to Owner wil1 be sent to any holder of a mortgage or other
     superior lien on the Building or this Lease of which Tenant has been
     notified in writing, and any such holder will also have the same time
     periods to cure such alleged default.

76.  Modifications Requested by Mortgagee
     ------------------------------------

     If any actual or prospective holder of a fee or mortgage interest in the
     Building, the improvements thereon, the land thereunder or any leasehold
     interest in either, requires the modification of this Lease in such manner
     as does not materially lessen Tenant's rights or increase its obligations

                                       26
<PAGE>

     hereunder, Tenant shall not withhold or delay its consent to such
     modification and shall execute and deliver such confirming documents
     therefor as such holder requires.

77.  Conflict Between Rider and Printed Lease
     ----------------------------------------

     If and to the extent that any of the provisions of any Rider to this Lease
     conflict or are otherwise inconsistent with any of the printed provisions
     of this Lease, whether or not such inconsistency is expressly noted in the
     Rider, the provisions of the Rider shall prevail. The description of a
     particular right or remedy of Owner shall not be deemed exclusive or
     otherwise limit, waive or impair Owner's resort to any or all other rights
     and remedies available. The terms "Owner" and "Landlord" whenever used
     in this Lease shall have the same meaning. The meaning and effect of this
     Lease shall not be determined subject to any presumption against Owner as
     drafter. The doctrine of "ejusdem generis" shall not be applied to limit a
     general description to the same class or category of things or matters
     contained in the list (or specific description) which the general
     description follows or otherwise relates to. If a word or phrase contained
     in a prior draft of this Lease was deleted intentionally, the meaning and
     effect of this Lease shall be determined as if the language stricken had
     not been included in any prior draft.

78.  Rider Governs
     -------------

     If any provision contained in this Rider is inconsistent or in conflict
     with any printed provision of this Lease, the provision contained in this
     Rider shall supersede said printed provision and shall be paramount and
     superior.

79.  Partial Invalidity/Joint Liability
     ----------------------------------

     If any provision of this Lease or the application thereof to any person or
     circumstance shall, to any extent be held void, unenforceable or invalid,
     then the remainder of this Lease or the application of such provisions to
     persons or circumstances other than those to which it is held void,
     unenforceable or invalid shall be valid and enforced to the fullest extent
     permitted by law. If there shall be more than one Tenant, they shall all be
     bound, jointly and severally, by the terms, covenants and conditions of
     this Lease.

80.  Indemnity: Supplementing Article 8 of the printed form of this lease.
     ---------

     A.   Tenant agrees to indemnify and save harmless Owner from and against
          (a) all claims of whatever nature against Owner arising from any
          negligent or improper act or omission of Tenant, its contractors,
          licensees, agents,

                                       27
<PAGE>

          servants, employees, invitees or visitors, (b) all claims against
          Owner arising from any accident, injury or damage whatsoever caused to
          any person or to the property of any person and occurring during the
          Term in or about the Demised Premises, and (c) all claims against
          Owner arising from any accident, injury or damages which result or are
          claimed to have resulted from an act or omission of Tenant or Tenant's
          contractors, agents, servants, employees, invitees or visitors. This
          indemnity shall not apply to the extent that any of the claims
          described above are caused by the negligent act or omission of
          Landlord, its contractors, agents, servants or employees. This
          indemnity and hold harmless agreement shall include indemnity from and
          against any and all liabilities, fines, suits, demands, costs and
          expenses (including without limitation, reasonable attorneys' fees) of
          any kind or nature incurred in or in conjunction with any such claim
          or proceeding brought thereon, and the defense thereof.

     B.   Tenant's indemnity set forth in this Article 80 shall extend and apply
          to each Superior Lessor and Superior Mortgagee.

81.  Requirements of Law
     -------------------

     Supplementing Article 6 of the printed form of Lease, Tenant's obligation
     to comply with all present and future laws, orders and regulations of all
     state, federal, municipal and local governments, departments, commissions
     and boards relating to Tenant's manner of use of the Demised Premises shall
     include, but shall not be limited to, all requirements relating to
     environmental matters by reason of Tenant's manner of use of the Demised
     Premises (whether or not such requirement would otherwise be the
     responsibility of Owner under said laws, orders or regulations) including,
     but not limited to, the storage, treatment, handling or transportation of
     hazardous waste.

82.  Restrictions on Tenant's Use
     ----------------------------

     Under no circumstances may the Demised Premises or any portion thereof be
     used for residential purposes. Tenant understands that any such use shall
     be a material default under the Lease and, notwithstanding anything herein
     to the contrary, shall entitle Landlord to immediately send Tenant a notice
     of cancellation of this Lease. Tenant further understands and acknowledges
     that the Building is not, has not been and is not intended to be an Interim
     Multiple Dwelling within the meaning of Section 280 et seq. of the New York
     Multiple Dwelling Law or any other type of multiple dwelling.

                                       28
<PAGE>

83.  Tax Escalation
     --------------

     The rent payable by Tenant during each lease year shall be adjusted in
     accordance with this Article:

     A)   Definitions: For the purpose of this Article, the following
          definitions shall apply:

          1.   The term "Base Tax Year" shall mean the fiscal year commencing
               July 1, 1998 and ending June 30, 1999.

               The term "Tax Year" shall mean any year commencing July 1st and
               ending June 30th which covers any portion of the term of this
               Lease.

          2.   The term "Percentage" shall mean 6%.

          3.   The term "Building" shall mean the land and building known as:
               45-18 Court Square, Queens, N.Y. a/k/a 45-17 Pearson Street,
               Queens, N.Y.

          4.   The term "Real Estate Taxes" shall mean all taxes levied,
               assessed or imposed at any time by any governmental authority
               upon or against the Building and also any tax or assessment
               levied, assessed or imposed at any time by any governmental
               authority in connection with the receipt of income or rents from
               the Building to the extent that same shall be in lieu of all or a
               portion of any of the aforesaid taxes upon or against the
               Building.

     B.   Real Estate Taxes

          1.   In the event that the Real Estate Taxes payable during any Tax
               Year subsequent to the Base Tax Year shall exceed the amount of
               Real Estate Taxes payable during the Base Tax Year (whether
               any such excess results from a higher tax rate or an increase
               in the assessed valuation of the Building, or both), Tenant shall
               pay to Landlord, as additional rent for such subsequent Tax Year,
               an amount equal to The Percentage of the excess. After receipt of
               the tax bills which indicate that Real Estate Taxes payable for
               any subsequent Tax Year will exceed the Real Estate Taxes for the
               Base Year, Landlord shall furnish to Tenant a statement of the
               additional rent payable under this subdivision (B).

               The percentage is defined as Tenant's portion of space in
               building, specifically, 6%.

                                      29
<PAGE>

          such statement shall set forth the Real Estate Taxes payable for such
          subsequent Tax Year and shall show an amount equal to The Percentage
          of the said excess, which amount shall be due from Tenant to Landlord,
          as additional rent, within ten (10) business days after receipt of the
          aforesaid statement; copies of the tax bills of the City of New York
          shall be sufficient evidence of the amount due under this Article,
          upon request.

     2.   The amount of Real Estate Taxes actually payable by Landlord during
          the Base Tax Year shall be used in the computation of the amount of
          additional rent payable under this subdivision, (B) until the amount
          of the Real Estate Taxes payable during the Base Tax Year be reduced
          by final determination of legal proceedings, settlement or otherwise.
          In the event of such reduction, the reduced amount of such taxes shall
          thereafter determine the amount of additional rent payable by Tenant
          pursuant to this subdivision (B), the additional rent theretofore paid
          or payable hereunder shall be recomputed on the basis of such
          reduction.

     3.   If Landlord shall receive a refund of any portion of the Real Estate
          Taxes payable during any Tax Year after the Base Tax Year, based upon
          which Tenant shall have paid additional rent as provided in this
          subdivision (B), then as a result of such a reduction of said Real
          Estate Taxes by final determination of legal proceedings, settlement
          or otherwise, Landlord shall, within ten (10) business days after
          receiving the refund, pay to Tenant the Percentage of the refund, less
          the percentage of reasonable expenses (including but not limited to
          attorneys' and appraisers' fees) incurred in connection with any such
          application or proceeding.

C.   In no event shall the annual fixed rent under the Lease (exclusive of the
     additional rents under this Article) be reduced.

D.   All of the additional rent payments required under this Article shall be
     appropriately prorated for any partial Tax Year occurring during the first
     and last years of the term of this Lease. Landlord's failure to prepare and
     deliver any of the foregoing tax bills, statements or bills of Landlord's
     failure to make a demand, shall not in any way waive or cause the Landlord
     to forfeit or surrender its rights to collect the additional rent required
     to be paid under this Article.

                                      30

<PAGE>

     E.   In the event of a default by Tenant of any of the terms, covenants and
          conditions of the Lease on the part of Tenant to be performed,
          Landlord shall terminate the Lease as a result thereof, Landlord shall
          have any and all of the rights and remedies available to Landlord
          under the provisions of the Lease or otherwise with regard to the
          collection of the additional rent required to be paid by Tenant under
          the terms of this Article "83".

84.  A.   "Operating Expenses" shall consist of expenses that are directly
          --------------------
          attributable to the operation, maintenance, management and repair of
          the Real Property. Tenant shall pay 6% of the increase in Operating
          Expenses ("Expense Increase") incurred in connection with the Real
          Property over the base year of the calendar year 1998 as and for
          additional rent.

     B.   Operating Expenses shall exclude:

          a.   Capital Improvements.

          b.   The cost of any repair made by the Landlord because of the
               total or partial destruction of the Real Property or the
               condemnation of a portion of the Real Property.

          C.   Any costs which are reimbursed by insurance proceeds or any other
               source.

          d.   Expenses of Landlord in curing its defaults or performing work
               expressly provided for in the Lease to be borne at Landlord's
               expense (including work for other tenant(s) in the Real
               Property).

          e.   The cost of marketing and leasing the Real Property, including
               leasing commissions, advertising and other marketing costs, and
               related legal, accounting and other professional services;
               costs to prepare space for occupancy by any tenants of the Real
               Property and for renovating, repainting, decorating,
               redecorating, planning, designing space for any tenants
               (including Tenant) and the cost of any credits, allowances, or
               other payments or rent waivers or concessions granted to any
               tenant (including Tenant).

          f.   Landlord's cost of electricity and other services sold to
               tenants, including retail tenants and the

                                          31

<PAGE>

               parking garage operator, if any, which services are not standard
               for the Premises, or are not available to Tenant without the
               necessity of paying a separate additional charge.

          g.   Costs incurred by Landlord in exercising remedies against tenants
               of the Real Property who violate terms of their leases.

          h.   Sums paid by Landlord for any indemnity, damages, fines, late
               charges, penalties or interest for late payment, or to correct
               violations of building codes or other laws or regulations
               relative to the Real Property which are not Tenant's obligation
               under the Lease.

          i.   Any costs incurred to remedy defects in the structure or systems
               of the building located on the Real Property which are not
               Tenant's obligations under the Lease.

          j.   Costs incurred to investigate and respond to hazardous materials
               contamination, exposure or release (including hazardous
               substances in the ground water or soil, provided the hazardous
               material was not stored, used or disposed of by Tenant in
               violation of law).

          k.   Any employee salaries and other compensation and/or health
               benefits or other such benefits for the personnel of Landlord
               above the level of building manager.

          l.   Costs of goods or services furnished by entities affiliated with
               Landlord to the extent that such costs exceed the cost that would
               have been incurred in an arm's length transaction with an
               unrelated party.

          m.   Costs of Landlord's general overhead and general administrative
               expenses (individual, partnership or corporate, as the case may
               be), which costs would not be chargeable to operating expenses of
               the Real Property under generally accepted accounting principles
               consistently applied.

          n.   Payments of principal, interest, ground rent or any other
               financing or refinancing costs on any mortgages, deeds of trust,
               ground leases or other

                                      32
<PAGE>

               encumbrances, whether secured or unsecured on the Real Property,
               including any equipment, fixtures or improvements therein, or any
               penalties or late charges relating thereto.

          o.   Depreciation and amortization of the building or any fixtures or
               improvements located on the Real Property; and

     C.   Upon request, Landlord will provide accountant's breakdown of
          operating costs compared against Base Year for any year in which an
          additional charge is billed to Tenant.

     D.   Any additional rent charged may be used as an estimate for the next
          year's billings and will be paid by Tenant in twelve (12) equal
          installments together with all other rent charges. Any adjustments
          will be made based upon the following year's actual costs.

     E.   If Tenant disputes figures provided by Landlord's accountant, Tenant,
          at Tenant's sole cost, upon reasonable notice, may review the books
          and records within thirty (30) days receipt of accountants'
          certification of costs. All reviews shall take place at Landlord's
          place of business during normal working hours. The books and records
          shall be kept in accord with generally accepted accounting principles
          consistently applied.

          In no event shall any rent adjustment hereunder result in a decrease
          in the fixed/minimum annual rent.

85.  ICIP Abatement
     --------------

     The Landlord and Tenant agree to cooperate in an application for ICIP
     Abatement of Taxes.

86.  Capital Improvements
     --------------------

     In the event any new law, rule, ordinance or regulation takes effect after
     the date hereof and requires the Landlord to do any work of a capital
     nature in the Demise Premises and/or the building, the Tenant shall pay, in
     equal monthly installments over the remainder of the lease term to the
     Landlord, 1/6th of the cost multiplied by the remaining months under the
     Lease divided by one hundred twenty (120). The monthly payments shall
     commence within thirty (30) days after written demand together with a copy
     of the applicable invoice as for additional rent.

                                      33
<PAGE>

87.  Notices
     -------

     Supplementing the terms of Article 27 hereof, a copy of any notice by
     Tenant to Owner shall be sent to:

                          Et-Al Management Corp.
                          60 Morrow Avenue
                          Scarsdale, New York 10583
     and to:
                          Seymour Hurwitz, Esq.
                          36 West 44th Street
                          New York, New York 10036

     and a copy of any notice by Owner to Tenant shall also be sent to:
                          Coaxicom, Inc. (dba Community Telephone)
                          48-18 Court Square
                          Long Island City, N.Y. 11101

88.  Lease Not Binding Unless Executed and Delivered
     -----------------------------------------------

     This lease shall not bind Owner unless and until it has been (i) signed and
     delivered by Tenant; (ii) received and accepted by Owner; and (iii) then
     countersigned and redelivered by Owner to Tenant. The execution and
     delivery of this Lease by Tenant shall constitute its irrevocable offer to
     enter into this Lease. The Owner warrants and represents, upon which
     warranty and representation that he understands that the Tenant shall rely
     in the execution of this Lease, that Owner has the full right and lawful
     authority to execute this Lease for the term thereof.

     At Tenant's option, lease shall not be binding and all deposits and all
     advance payments will be returned to Tenant if space is not ready for
     occupancy by August 1 due to Landlord's unexcusable delay. Landlord agrees
     to make best efforts to provide space as soon as possible.

89.  Tenant's Federal Tax I.D. Number
     ---------------------------------

     Tenant states that its Federal Tax Identification Number (the "Number") is
     11-331-0798. From time to time, upon Owner's request, Tenant shall confirm
     in writing that the Number provided by Tenant is correct and, if it is
     missing or incorrect, what the correct number is. Tenant shall indemnify
     Owner from and against any and all liability for any claim, fine, penalty,
     cost or expense (including attorneys' fees) paid, suffered or incurred by
     reason of Tenant's failure to Comply with this Article.

                                 34
<PAGE>

90.  Miscellaneous
     -------------

     A.   No Offer.

          This Lease is offered to signature by Tenant and it is understood that
          this Lease shall not be binding upon Landlord unless and until
          Landlord shall have executed and delivered a fully executed copy of
          this Lease to Tenant.

     B.   Signatories.

          If more than one person executes this Lease as Tenant, each of them
          understands and hereby agrees that the obligations of each of them
          under this Lease are and shall be joint and several, that the term
          "Tenant" as used in this Lease shall mean and include each of them
          jointly and severally and that the act of or notice from, or notice
          or refund to, or the signature of, any one or more of them, with
          respect to the tenancy and/or this Lease, including, but not limited
          to any renewal, extension, expiration, termination or modification of
          this Lease, shall be binding upon each and all of the persons
          executing this Lease as Tenant with the same force and effect as if
          each and all of them had so acted or so given or received such notice
          or refund or so signed.

     C.   Authority.

          If Tenant is a corporation or partnership, each individual executing
          this Lease on behalf of Tenant a hereby represents and warrants that
          Tenant is a duly formed and validly existing entity qualified to do a
          business in the State of New York and that Tenant has full right and
          authority to execute and deliver this a Lease and that each person
          signing on behalf of Tenant is authorized to do so.

     D.   Merger.

          This Lease represents the entire understanding of the parties hereto
          and all prior understandings or agreements between the parties are
          merged in this agreement.

     E.   Pornographic Uses Prohibited.

          Tenant agrees that the value of the Demised Premises and the
          reputation of the Owner will be seriously injured if the premises are
          used for any obscene or pornographic purposes or any sort of
          commercial sex establishment or

                                          35

<PAGE>

          for certain other purposes. Tenant agrees that Tenant will not bring
          or permit any obscene or pornographic material on the premises and
          shall not permit or conduct any obscene, nude or semi-nude live
          performances on the premises, nor permit use of the premises for nude
          modeling, rap sessions, or as a so-called "rubber goods shop", or as a
          sex club of any sort, or as a "massage parlor", nor shall the Demised
          Premises be used for erotic dancing, a night club or for the
          preparation or serving of food or beverages. Tenant further agrees
          that Tenant will not permit any of these uses by any sublessee
          or assignee of the premises. This Article shall directly bind any
          successors in interest to the Tenant. Tenant agrees that if, at any
          time, Tenant violates any of the provisions of this Article, such
          violation shall be deemed a breach of a substantial obligation of the
          terms of this Lease and objectionable conduct. "Pornographic material"
          is defined for purposes of this Article as any written or pictorial
          matter with prurient appeal or any objects or instruments that are
          primarily concerned with lewd or prurient sexual activity.

91.  Left Intentionally Blank.

92.  Rent Commencement. The sooner of January 1, 1999 or upon substantial
     -----------------
     completion of Tenant's installation. See Paragraph 40.

93.  Left Intentionally Blank.

94.  Left Intentionally Blank.

95.  Left Intentionally Blank.

96.  Building Services. building shall be operated with all services and common
     -----------------
     area maintenance as normally provided for similar office buildings in the
     area during normal business hours (including HVAC, janitorial services,
     electric current, etc.). Tenant shall have 24-hours access seven (7) days a
     week except for freight elevator as indicated hereinabove. Building is
     managed by Landlord.

97.  Left Intentionally Blank.

98.  Landlord covenants and agrees to reasonably maintain the building in a
     neat, orderly, safe, and sanitary manner, including but not limited to,
     cleaning and maintaining the common areas and exterior of the building, bag
     and remove all garbage, snow and ice removal, pest and rodent extermination
     for common areas.

                                      36
<PAGE>

99.  Landlord has installed a central security system in the building with
     electronic card entry. Landlord shall provide sufficient entry cards to
     Tenant and Tenant's employees, not to exceed 10, at no charge to Tenant.
     Additional cards can be purchased by Tenant at ten (10%)percent above
     Landlord's cost. Landlord shall also provide to Tenant, upon Tenant's
     request, security printouts and videotape, if any, at no charge to Tenant--
     not to exceed three (3)times per year.

100. Landlord represents to the best of its knowledge that the Building
     currently complies with the American Disabilities Act of 1990, and any
     amendments or regulations promulgated thereunder or any related or similar
     law (the "ADA"), and that throughout the term of this Lease Landlord shall
     make any and all necessary repairs and alterations to the Building,
     including the Demised Premises, required to comply with the ADA.

101. Left Blank Intentionally.

102  By executing this lease, Owner represents that as of the date hereof, it
     has the resources to fulfill its obligations hereunder.

103  By executed this lease, Tenant represents that as of the date hereof, it
     has the resources to full its obligations hereunder.

104. With the signing of the lease, Tenant shall pay first month's rent in the
     amount of $11,759.83 and two month's security in the amount of $23,519.66
     as agreed.

105. Landlord will furnish additional security at each entry door to Tenant's
     space in the form of card swipe or keypad systems, the cost of which to be
     shared equally by Landlord and Tenant.

     a.   Landlord agreed to give his "Best effort" to have a security guard in
          place by 3/1/99. The landlord also agreed to position security cameras
          at the front and rear entrance of the building (within a relative time
          after lease commencement.)

106. The walls for the new offices will be gypsum board to slab for improved
     acoustical privacy.

                                      37

<PAGE>

WITNESSES:                             OWNER: 45-18 COURT SQUARE, LLC

                                            /s/
_____________________________          BY: --------------------------

                                           TENANT:  COAXICOM, INC.
                                           (dba COMMUNITY TELEPHONE)

 /s/                                        /s/
_____________________________          BY: --------------------------

                                      38
<PAGE>

RIDER TO LEASES BETWEEN 45-18 COURT SQUARE ASSOC., LANDLORD AND COAXICOM, INC.
(DBA COMMUNITY TELEPHONE), AS TENANTS TO BE ATTACHED TO LEASES FOR OFFICE 502
AND OFFICE 403.

It is hereby agreed that Paragraph 101 is deleted from both leases dated May 27,
1998 and March 27, 1997 for offices located at 45-18 Court Square, Long Island
City.

45-18 COURT SQUARE, LLC

     /s/
BY: -------------------------
          LANDLORD

COAXICOM, INC.
DBA COMMUNITY TELEPHONE

     /s/
BY: -------------------------
           TENANT

                                       2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00001-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00001-of-00352.parquet"}]]