Document:

Exhibit
10.4

 

SUBLEASE

 

BETWEEN

 

NEW
CINGULAR WIRELESS SERVICES, INC.

f/k/a
AT&T WIRELESS SERVICES, INC.,

 

SUBLANDLORD

 

and

 

BANKRATE,
INC.,

 

SUBTENANT

 

11760 US
HIGHWAY ONE, NORTH PALM BEACH, FL

 

Dated:
November 18,
2004

 

 

	
        TABLE OF
      CONTENTS
	Page
	
      1.
	 	
      SUBLEASE
	
      1

	
      2.
	 	
      PARKING
	
      2

	
      3.
	 	
      PRIME
      LEASE
	
      2

	
      4.
	 	
      DEFINITIONS
	
      3

	
      5.
	 	
      PRIME
      LANDLORD
	
      3

	
      6.
	 	
      TERM
	
      4

	
      7.
	 	
      RENT
	
      5

	
      8.
	 	
      REFUNDS
	
      6

	
      9.
	 	
      SECURITY
      DEPOSIT
	
      7

	
      10.
	 	
      LETTER
      OF CREDIT
	
      7

	
      11.
	 	
      SUBTENANT
      FIT-UP
	
      7

	
      12.
	 	
      ALTERATIONS
	
      8

	
      13.
	 	
      REPAIRS
      AND MAINTENANCE
	
      9

	
      14.
	 	
      UTILITIES
      AND SERVICES
	
      9

	
      15.
	 	
      ASSIGNMENT
      AND SUBLEASING
	
      9

	
      16.
	 	
      INSURANCE
	
      10

	
      17.
	 	
      NON-BINDING
      MEDIATION
	
      10

	
      18.
	 	
      COMPLIANCE
      WITH LAWS
	
      10

	
      19.
	 	
      LIMITATIONS
      ON SUBLANDLORD S LIABILITY
	
      11

	
      20.
	 	
      ESTOPPEL
      CERTIFICATES
	
      12

	
      21.
	 	
      SUBORDINATION
	
      13

	
      22.
	 	
      CASUALTY
      AND CONDEMNATION
	
      13

	
      23.
	 	
      CONSENT
      OR APPROVAL OF PRIME LANDLORD
	
      13

	
      24.
	 	
      NOTICES
	
      13

	
      25.
	 	
      BROKERS
	
      15

	
      26.
	 	
      SUBLANDLORD
      S AND SUBTENANT S POWER TO EXECUTE
	
      15

	
      27.
	 	
      TABLE
      OF CONTENTS - CAPTIONS
	
      15

	
      28.
	 	
      CONSENT
      TO SUBLEASE BY PRIME LANDLORD
	
      15

	
      29.
	 	
      ENTIRE
      AGREEMENT
	
      16

	
      30.
	 	
      INDEMNIFICATION
	
      16

 

 

 

-i-

 

 

	
      TABLE
      OF CONTENTS
	 
	
      (continued)
	 
	 	 	 	
      Page

	
      31.
	
      MISCELLANEOUS
	
      18

	
      EXHIBIT
      A
	
      DESCRIPTION
      OF SUBLEASED PREMISES
	
      22

	
      EXHIBIT
      B
	
      PRIME
      LEASE
	
      23

	
      EXHIBIT
      C
	
      HOUSTON-CUOZZO
      GROUP, INC. BID FOR REPAIRS
	
      24

* * *
*

The
mailing, delivery or negotiation of this Sublease shall not be deemed an offer
to enter into any transaction or to enter into any other relationship, whether
on the terms contained herein or on any other terms. This Sublease shall not be
binding nor shall either party have any obligations or liabilities or any rights
with respect thereto, or with respect to the premises, unless and until both
parties have executed and delivered this Sublease and the Prime Landlord has
consented in writing to this Sublease. Until such execution and delivery of, and
consent to this Sublease, either party may terminate all negotiation and
discussion of the subject matter hereof, without cause and for any reason,
without recourse or liability.

 

* * *
*

 

-ii

 

SUBLEASE

 

This
Sublease is entered into as of this 18th day
of November, 2004 by and between NEW
CINGULAR WIRELESS SERVICES, INC. f/k/a AT&T WIRELESS SERVICES,
INC., a
Delaware corporation, with offices at 7277 164th Avenue
NE, Redmond, Washington 98052 (hereinafter "Sublandlord") and BANKRATE,
INC., a
Florida corporation, with offices at
11811
U.S. Highway
One, Suite
101, North
Palm Beach,
FL
33408
(hereinafter "Subtenant").

 

INTRODUCTORY
STATEMENTS

 

A. By Lease
dated August 7th, 2002,
(the "Prime Lease") Griphon Marlins Investors, Ltd., a
Florida limited partnership ("Griphon") leased to Sublandlord certain space in
the building known as 11760 US
Highway One, North
Palm Beach, Florida
(hereinafter called the "Building"). Gardens Plaza Investors, LLC, a Florida
limited liability company, (the "Prime Landlord") is the successor in interest
to Griphon.

 

B. Subtenant
has agreed to sublet from Sublandlord certain portions of the
Building.

 

C. The
parties desire to enter into this Sublease defining their respective rights,
duties and liabilities relating to the Subleased Premises (defined
below).

 

WITNESSETH

 

NOW
THEREFORE, Sublandlord and Subtenant, in consideration of the mutual promises
and covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, and each with intent to
be legally bound, for themselves and their respective successors and assigns,
agree as follows:

 

1. SUBLEASE

 

Sublandlord,
for and in consideration of the Subtenant s payment of the rent and performance
of the covenants contained in this Sublease, does hereby demise and lease to
Subtenant for
general office use the
following portions of the Building: Fifth floor containing approximately 12,388
rentable square feet as shown on the floor plan which is attached hereto as
Exhibit A (the "Subleased Premises").

 

2. PARKING

 

Subtenant
shall be entitled to the non-exclusive use of 49 parking spaces in common with
other tenants in the Building. Such parking shall be a part of Sublandlord s
parking allocation under the Prime Lease and not supplemental to such
allocation.

 

3. PRIME
LEASE

 

A true
copy of the Prime Lease (with certain financial provisions deleted for reasons
of confidentiality) is attached hereto as Exhibit
B. Where
not expressly inconsistent with the terms hereof and except as otherwise stated
herein to the contrary, this Sublease shall be subject and subordinate to all of
the terms and conditions contained in the Prime Lease as said terms and
conditions affect the Subleased Premises, and all of the terms and conditions of
the Prime Lease, except as otherwise set forth herein, are hereby incorporated
into this Sublease and shall be binding upon Subtenant with respect to the
Subleased Premises to the same extent as if Subtenant were named as tenant and
Sublandlord as landlord under the Prime Lease. For purposes of this Sublease,
references in the Prime Lease to the ["term"] shall mean the Term of this
Sublease and references to the ["premises"] in the Prime Lease shall mean the
Subleased Premises. [Except as otherwise provided herein, when any fraction,
factor or formula, which is based on the number of square feet leased, is
expressed in the Prime Lease, it will be adjusted by substituting the number of
square feet of the Subleased Premises for the number of square feet of the
[Premises] leased in the Prime Lease.] Each party agrees that it shall not do or
omit to do anything which would result in a default under the Prime Lease, and
each party agrees to indemnify and hold the other harmless from and against all
claims, demands or liabilities resulting from such party s breach, violation or
nonperformance of any of its obligations under the Prime Lease, as incorporated
herein. With the exceptions set forth herein, Subtenant shall be entitled to all
of the rights and privileges of the Sublandlord as tenant under the terms of the
Prime Lease with respect to the Subleased Premises. The following provisions of
the Prime Lease shall
not be
incorporated into this Sublease: Sections: 1.01 Demised Premises, 1.02 Temporary
Premises, 2.01 Term, 2.02 Options to renew the Term of this Lease, 2.03
Vacation, 2.04 Acknowledgment of Term, 3.01 Base Annual Rent, 3.02 Base Annual
Rent Adjustments, 3.03 Sixth Floor Premises Rent, 4.01 Definition of Taxes, 4.02
Tenant s Proportionate Share of Taxes, 4.03 Payment of Taxes, 4.04 Tax Refund,
4.05 Additional Taxes, 5.01 Definition of Common Area Expenses, 5.02 Tenant s
Proportionate Share of Common Area Expenses, 5.03 Payment of Common Area
Expenses, 5.04 Tenant s Audit, 6.01 Financial Statements, 7.04 Landlords
Contribution For Tenants Work, 7.06 Pre Commencement Date Work, 8.02 The Option
Period Alterations Allowance, 9.02 Restriction On Competitor Signage, 10.01
Assignment and Subletting, 10.02 Sublease Assignment and Subtenant Subleases,
14.02 Valet or Other Parking, 28.01 Brokerage Commission, 31.02 Notices, 31.04
Successors, 31.12
Covenant to Pay Rent; Late Charge, and
31.13
Satellite Dish.

 

 

1

 

4. DEFINITIONS

 

All terms
not expressly defined in this Sublease shall have the meanings given to them in
the Prime Lease.

 

5. PRIME
LANDLORD

 

At
Subtenant s expense and request, Sublandlord will take all reasonable actions
necessary to enable Subtenant to enforce the Sublandlord s rights as tenant
under the Prime Lease with respect to the Subleased Premises.

 

6. TERM

 

The term
of this Sublease (the "Term")
shall be approximately three (3) years, two (2) months, commencing on execution
(the"Commencement Date") and ending on 12/31/2007. Subtenant has the one time
right to cancel this sublease effective May 1, 2005 with at least two (2) months
written notice to Sublandlord only under the following two
conditions:

 

(i) Prime
Landlord does not approve or agree to make available adequate power required by
Subtenant in the Subleased Premises;

 

Power
needed includes the following:

 

Nominal
input voltage 208 3PH V

Input
frequency 50/60 Hz +/- 3 Hz (auto sensing)

Input
Connection Type Hard Wire 5-wire (3PH + N + G)

Input
voltage range for main operations 177 - 240 V

Input
Power Factor at Full Load 0.99

Main
Input Breaker Size 90 VA;

 

and

 

(ii) Prime
Landlord does not approve Subtenant
s
installation and use of a Cummins 75 KW propane powered generator unit that is 5
feet high, 3 feet wide and 6 feet long which could be installed in a parking
garage/sub-basement and vented outdoors.

 

Should
Subtenant exercise
its termination right
herein,
Subtenant shall, upon giving written notice to Sublandlord, pay to Sublandlord a
termination fee equal to one months rent plus unamortized
commissions, as calculated on a straight line basis. At such time, this Sublease
for the remainder of Term
shall terminate and neither party shall have any further rights, duties or
obligations to the other except any rights, duties or obligations that may
survive the termination hereof.

 

7. RENT

 

Subtenant
covenants and agrees to pay to Sublandlord gross
rent (which includes Tenant s electric, HVAC uses during Building Business Hours
(8 a.m. to 6 p.m.), and janitorial services)
according to the following schedule:

 

Term:
Commencement - 12/31/2007

 

Monthly
Rent:  $23,743.67
plus Applicable Sale Tax

 

Annualized
Rent: $23.00 per
square foot totaling $284,924.00 plus
Applicable Sales Tax

 

(a) Monthly
rent shall include applicable Sales Tax due, which
is currently 6%, subject to change. Sales Tax is an obligation of the Subtenant.
Rent shall be payable on the first day of each and every month of said Term.
Concurrently with Subtenant s execution of this Sublease Agreement, Subtenant
shall pay Sublandlord an amount equal to Forty eight thousand, nine hundred
eleven Dollars and ninety six Cents ($48,911.96), a portion of which, or Twenty
five thousand, one hundred sixty eight Dollars and twenty nine Cents
($25,168.29), is to be applied as first month s rental, the remaining portion,
or Twenty three thousand, seven hundred forty three Dollars and sixty seven
Cents ($23,743.67), shall be held as a refundable security deposit in accordance
with Section 9 of this Sublease. Rent for any period of occupancy of less than
one month shall be prorated in proportion to the number of days of occupancy in
that month.

 

 

2

 

(b) Any
services provided by Prime Landlord or Sublandlord to Subtenant which are not
contained in the Prime Lease (including but not limited to after-hours
HVAC to be
charged to Subtenant at Prime Landlord or Sublandlord s actual cost for such
after-hours HVAC without mark-up or administrative fee by Sublandlord as
evidenced by an invoice to be provided to Subtenant in accordance with Section
15.04 Extra Services of the Prime Lease) shall
be at Subtenant s sole cost and shall be paid directly to Prime Landlord or
Sublandlord, as the case may be.

 

(c) The term
basic rent is sometimes referred to herein as Rent or rent and shall include all
sums due from Subtenant to Sublandlord under the terms of this Sublease. All
Rent shall be payable at the office of the Sublandlord at the following
address:

 

New
Cingular Wireless Services, Inc.

c/o
Wireless Asset Management

7600
County Line Road

Burr
Ridge, IL 60527

 

or at
such other address as directed by notice from Sublandlord to
Subtenant.

 

(d) If Rent
is more than five (5) days past due, Subtenant shall be required to pay to
Sublandlord a fee equal to Twelve Percent (12%) of Rent due ( Late Charge ) in
addition to the past due Rent owed to Sublandlord.

 

(e) If Rent
is more than five (5) days past due twice, then, in addition to the Late Charge,
Subtenant shall immediately prepay rent every three months in advance throughout
the term of the lease to Sublandlord. These provisions in no way affect
Sublandlord s rights to enforce its other remedies incorporated under this
Sublease Agreement in the event Rent is past due.

 

8. REFUNDS

 

Provided
Subtenant is not in default under this Sublease beyond all applicable cure
periods, Sublandlord shall pay to Subtenant any sums which Sublandlord is
entitled to receive from the Prime Landlord under the Prime Lease with respect
to the Subleased Premises during the Term, including, but not limited to, any
refunds of basic rent which has been paid by Subtenant; however, such sums shall
be paid to Subtenant only if Sublandlord has received payment of same from Prime
Landlord. Payment (less any sums expended by Sublandlord for collection thereof)
shall be made by Sublandlord to Subtenant within thirty (30) days of Sublandlord
s receipt of any such sum.

 

 

3

 

9. SECURITY
DEPOSIT

 

Subtenant
has deposited with Sublandlord the sum of twenty-three
thousand seven hundred forty-three Dollars
and
sixty-seven Cents ($23,743.67) as
security for the full and faithful performance of every portion of this Sublease
to be performed by Subtenant (the Security Deposit ). If Subtenant defaults with
respect to any provision of this Sublease, Sublandlord may use, apply or retain
all or any portion of this Security Deposit to remedy such default. If any
portion of said Security Deposit is so used or applied, Subtenant shall, within
ten (10) days after demand therefor, deposit cash with Sublandlord in an amount
sufficient to restore the Security Deposit to its original amount, and Subtenant
s failure to do so shall be a material breach of this Sublease. Sublandlord
shall not be required to keep this Security Deposit separate from its general
funds, and Subtenant shall not be entitled to interest on such deposit.
Provided Subtenant
has fully
and faithfully performed its obligations under this Sublease (any defaults cured
by Subtenant throughout the Term shall not be considered a violation of this
provision), the
Security Deposit or any balance thereof shall be returned to Subtenant within
thirty (30) days of termination of the Term.

 

10. LETTER OF
CREDIT.
intentionally
deleted

 

11. SUBTENANT
FIT-UP

 

Subtenant
shall accept the Subleased Premises in its current As-Is, Where-Is condition
with all cable being left in place. Where necessary, cable will be coiled back
to the wall. Notwithstanding
the foregoing, it is understood and agreed by the parties that the Sublandlord
has remediated the mold due to water damage in the Subleased Premises. The
removal and replacement of all affected drywall and carpeting ( Repairs ) in
association with this water damage shall be managed by and funded by Subtenant.
Sublandlord shall provide Subtenant with a one time Repair Allowance to do the
work outlined in the bid received for Sixty-seven thousand five hundred forty
Dollars ($67,540.00) by
Houston-Cuozzo Group, Inc. to complete the Repairs, a copy of such bid being
attached hereto as Exhibit
C .
Sublandlord will provide the Repair Allowance by wire or check to SubTenant
within seven (7) business days of receipt of Prime Landlord s consent to this
Sublease. The Repairs must be conducted following all applicable laws and code,
must be approved by Sublandlord and is subject to all conditions in the Prime
Lease. Sublandlord shall inspect the Repairs and give approval upon completion.
Subtenant shall indemnify Sublandlord for any and all issues related to such
repairs.

 

Sublandlord
shall also provide Subtenant with evidence reasonably satisfactory to Subtenant
as to the air quality and lack of the presence of mold as a result of the water
damage to the Subleased Premises.

 

12. ALTERATIONS

 

Subject
to the terms and conditions of the Prime Lease, Subtenant shall not make any
material alterations, improvements or additions in or to the Subleased Premises
without the prior written consent of Sublandlord, which shall not be
unreasonably withheld, conditioned or delayed. Alterations shall have the same
definition as in Section 8.01 Tenant s Alterations of the Prime Lease. All
alterations and improvements shall be subject to the terms and conditions of the
Prime Lease, and in those instances, if required, shall be subject to the Prime
Landlord s approval as provided in the Prime Lease. Except as otherwise provided
for herein relating to the Repairs, any alterations, improvements or additions
consented to by Sublandlord shall be made by Subtenant or Subtenant s
contractors at the sole cost and expense of Subtenant.

 

 

4

 

13. REPAIRS
AND MAINTENANCE

 

Any
repair and maintenance obligations with respect to the Subleased Premises which
are the responsibility of the Sublandlord, as tenant under the Prime Lease,
shall be performed by Subtenant at Subtenant s sole cost and expense. Subtenant
agrees that it will notify Sublandlord promptly of the need for any repair to
the Subleased Premises, even if Sublandlord is not responsible for any such
repair. Notwithstanding anything contained herein to the contrary, in the event
that a condition exists in the Subleased Premises that Prime Landlord is
obligated to repair under the terms of the Prime Lease, Subtenant shall so
advise Sublandlord, and Sublandlord, in turn, shall promptly advise Prime
Landlord thereof. Sublandlord shall have no liability to Subtenant for Prime
Landlord s failure to make any such repair.

 

14. UTILITIES
AND SERVICES

 

Subtenant
shall be entitled to all those services and utilities which Prime Landlord is
required to provide under the terms of the Prime Lease. To the extent that Prime
Landlord charges Sublandlord for any services or utilities or increases the cost
of such services or utilities and such charge or increase is due to Subtenant s
use of the Subleased Premises or such utilities or services, Subtenant agrees to
pay the charges therefore promptly upon receipt of Sublandlord s
bill.

 

15. ASSIGNMENT
AND SUBLEASING

 

Subject
to the terms and conditions of the Prime Lease, Subtenant shall not have the
right to assign this Sublease or sublet the Subleased Premises, in whole or in
part, without the prior written consent of Sublandlord, which shall not be
unreasonably withheld, conditioned or delayed.

 

16. INSURANCE

 

Subtenant
agrees to comply with all of the insurance requirements and obligations of
Sublandlord as set forth in the Prime Lease and to name both Sublandlord and
Prime Landlord and such other parties as required in the Prime Lease as
additional insured on any required insurance policies. Subtenant may not
self-insure.

 

17. NON-BINDING
MEDIATION

 

(a) If a
dispute arises out of or relates to this Sublease, or its breach, and the
parties have not been successful in resolving such dispute through negotiation,
the parties agree to attempt to resolve the dispute through non-binding
mediation by submitting the dispute to a sole mediator selected by the parties
or, at the option of a party, to mediation by the American Arbitration
Association ( AAA ). If such
dispute is not resolved by such non-binding mediation, the parties shall have
the right to resort to any remedies permitted by law. All defenses based on
passage of time shall be tolled during the mediation.

 

 

5

 

(b) The
direct expenses of the mediation, including the compensation and expenses of the
mediator and the fees of the AAA, shall be borne equally by the parties. All
other costs incurred by the parties to this Sublease, including the parties
legal expenses and their witnesses expenses, shall be borne by the party
incurring the expense. The parties, their representatives, other participants
and the mediator shall hold the existence, content and result of the mediation
in confidence.

 

18. COMPLIANCE
WITH LAWS

 

In
addition to any obligations under the Prime Lease, Subtenant shall promptly
comply with all statutes, ordinances, rules, orders, regulations and
requirements of the Federal, State and municipal Governments and of any and all
their Departments and Bureaus applicable to the use and occupancy of the
Subleased Premises by Subtenant or any subtenant or assignee of Subtenant, for
the correction, prevention and abatement of nuisances, violations or other
grievances, in, upon or connected with the Subleased Premises during the Term or
any renewal thereof, including without limitation all laws relating to
environmental matters and the Americans with Disabilities Act, and shall also
promptly comply with, and execute all rules, orders and regulations of the Board
of Fire Underwriters for the prevention of fires (collectively referred to as
Legal Requirements ) at its own cost and expense. Nothing in this paragraph
shall be deemed a consent to the alteration, subletting or assignment of all or
any portion of the Subleased Premises or of all or any of Subtenant s interests
in this Sublease.

 

If
Subtenant shall fail or neglect to comply with the aforesaid Legal Requirements,
or if Subtenant shall fail or neglect to make any repairs required by the terms
of this Sublease, and if such breach continues for a period of ten (10) days
after notice from Prime Landlord or Sublandlord regarding same, or, if the
breach cannot be cured within thirty (30) days, if Subtenant has not begun to
cure the breach within such period and does not thereafter diligently prosecute
the cure to completion, then Sublandlord or its agents may (but shall not be
obligated to) enter the Subleased Premises and take such actions as necessary to
cure the breach and comply with any and all of the said Legal Requirements, at
the cost and expense of Subtenant; and, in case of Subtenant s failure to pay
therefor, the said cost and expense shall be added to the next month s Rent and
be due and payable as such.

 

19. LIMITATIONS
ON SUBLANDLORD S LIABILITY

 

(a) Subtenant
acknowledges that Sublandlord has made no representations or warranties with
respect to the Building or the Subleased Premises except as provided in this
Sublease and Subtenant accepts the Subleased Premises in AS IS
condition.

 

 

6

 

(b) If
Sublandlord assigns its leasehold estate in the Building in
accordance with the terms of the Prime Lease,
Sublandlord shall have no obligation to Subtenant that arises after that
assignment. Subtenant shall then recognize Sublandlord s assignee as Sublandlord
of this Sublease.

 

(c) Sublandlord
shall not be required to perform any of the covenants and obligations of the
Prime Landlord under the Prime Lease. If the Prime Landlord shall default in the
performance of any of its obligations under the Prime Lease or breach any
provision of the Prime Lease pertaining to the Subleased Premises, Subtenant
shall have the right to take such default or breach to Sublandlord, which shall
be at Subtenant s sole cost and expense, and in the name of Sublandlord make any
demand or institute any action or proceeding, in accordance with and not
contrary to any provision of the Prime Lease, against the Prime Landlord under
the Prime Lease for the enforcement of the Prime Landlord s obligations
thereunder. Subtenant shall defend, indemnify and hold Sublandlord harmless from
and against any suit, action, cost, expense, damage or liability which arises
out of or results from Subtenant s exercise of its rights under this
paragraph.

 

20. ESTOPPEL
CERTIFICATES

 

Either
party hereto (the requested party) agrees that from time to time upon not less
than fifteen (15) days prior notice by the other party (requesting party), the
requested party or its duly authorized representative having knowledge of the
following facts will deliver to the requesting party, or to such person or
persons as the requesting party may designate, a statement in writing certifying
(a) that this Sublease is unmodified and in full force and effect (or if there
have been modifications, that the Sublease as modified is in full force and
effect); (b) the date to which the Rent and other charges have been paid; (c)
that to the best of the requested party s knowledge, the requesting party is not
in default under any provision of this Sublease or if in default, the nature
thereof in detail.

 

21. SUBORDINATION

 

This
Sublease shall be subject and subordinate to the Prime Lease, any ground lease
and to any mortgage or deed of trust thereon or on the fee simple interest in
the Building or the land on which the Building is located.

 

22. CASUALTY
AND CONDEMNATION

 

If the
Prime Lease is terminated with respect to the Subleased Premises pursuant to the
provisions of the Prime Lease, this Sublease shall automatically terminate at
the same time and Subtenant shall have no claim against Sublandlord or Prime
Landlord for the loss of its subleasehold interest or any of Subtenant s
property. If the Prime Lease is not terminated with respect to the Subleased
Premises upon the occurrence of a casualty or condemnation, the provisions of
the Prime Lease with respect to casualty or condemnation shall apply to this
Sublease and the Subleased Premises.

 

23. CONSENT
OR APPROVAL OF PRIME LANDLORD

 

If the
consent or approval of Prime Landlord is required under the Prime Lease with
respect to any matter relating to the Subleased Premises, Subtenant shall be
required first to obtain the consent or approval of Sublandlord with respect
thereto (which consent or approval shall not be unreasonably withheld or
delayed) and, if Sublandlord grants such consent or approval, Sublandlord or
Subtenant may forward a request for consent or approval to the Prime Landlord,
but Sublandlord shall not be responsible for obtaining such consent or approval.
Sublandlord shall have no liability to Subtenant for the failure of Prime
Landlord to give its consent.

 

 

7

 

24. NOTICES

 

All
notices given pursuant to the provisions of this Sublease shall be in writing,
addressed to the party to whom notice is given and sent registered or certified
mail, return receipt requested, in a postpaid envelope or by nationally
recognized overnight delivery service as follows:

 

To
Subtenant:

 

Thomas R.
Evans

President
and CEO

Bankrate,
Inc

11
East 44th
Street, Suite
1200

New York,
NY 10017

 

and

 

Bruce J.
Zanca

Senior
Vice President - Chief Marketing/Communications Officer

Bankrate,
Inc

11 East
44th Street, Suite 1200

New York,
NY 10017

 

with a
copy to:

 

David G.
Bates, Esq.

Karen D.
Geller, Esq.

Gunster,
Yoakley & Stewart, P.A.

777 South
Flagler Drive, Suite 500 East

West Palm
Beach, Florida 33401

 

To
Sublandlord:

New
Cingular Wireless Services, Inc.

c/o
Wireless Asset Management

County
Line Road

Burr
Ridge, IL 60527

 

Phone
916-266-7051

Fax
630-590-3099

 

With a
copy to:

New
Cingular Wireless Services, Inc.

E.
Midland Ave.

Paramus,
NJ 07652

Attn: Law
Department (3rd
Floor)

 

 

8

 

It is
understood and agreed that unless specifically modified by this Sublease,
Sublandlord shall be entitled to the length of notice required to be given Prime
Landlord under the Prime Lease and shall
be entitled to give Subtenant the amount of notice required to be given tenant
under the Prime Lease. All
notices shall be deemed given upon receipt or rejection.

 

Either
party by notice to the other may change or add persons and places where notices
are to be sent or delivered. In no event shall notice have to be sent on behalf
of either party to more than three (3) persons.

 

25. BROKERS

 

The
parties warrant that they have had no dealings with any real estate broker or
agent in connection with this Sublease, except Jones Lang LaSalle and
Walters/Gottlieb
Partners, Inc.
(who represented the Sublandlord) and no broker (represented the Subtenant),
known collectively as the Brokers . Each party covenants to pay, hold harmless
and indemnify the other from and against any and all costs, expenses or
liabilities for any compensation, commissions and charges claimed by any other
broker or agent with respect to this Sublease or the negotiation thereof, based
upon alleged dealings with the indemnifying party. Sublandlord agrees to pay a
commission to Brokers pursuant to a separate commission agreement.

 

26. SUBLANDLORD
S AND SUBTENANT S POWER TO EXECUTE

 

Sublandlord
(subject to Prime Landlord s consent) and Subtenant covenant warrant and
represent that they have full power and proper authority to execute this
Sublease.

 

27. TABLE OF
CONTENTS - CAPTIONS

 

The Table
of Contents and the captions appearing in this Sublease are inserted only as a
matter of convenience and do not define, limit, construe or describe the scope
or intent of the sections of this Sublease nor in any way affect this
Sublease.

 

28. CONSENT
TO SUBLEASE BY PRIME LANDLORD

 

This
Sublease shall not become operative until and unless the Prime Landlord has
given to Sublandlord its consent hereto. Sublandlord shall not be responsible
for Prime Landlord s failure to consent to this Sublease but
shall endeavor in good faith to obtain Prime Landlord s consent. Should
Prime Landlord not consent to this Sublease, each party shall be released from
all obligations with respect hereto and neither party shall have any further
rights in law or in equity with respect to this Sublease.

 

29. ENTIRE
AGREEMENT

 

This
Sublease (which includes each of the Exhibits attached hereto) contains the
entire agreement between the parties and all prior negotiations and agreements
are merged into this Sublease. This Sublease may not be changed, modified,
terminated or discharged, in whole or in part, nor any of its provisions waived
except by a written instrument which (a) shall expressly refer to this Sublease
and (b) shall be executed all
parties hereto.

 

9

 

30. INDEMNIFICATION

 

(a) Subtenant
shall indemnify,
defend and hold
Sublandlord and its agents, employees, contractors, licensees or invitees,
harmless from and against all claims, causes of action, liabilities, losses,
costs and expenses (including
attorney s fees) arising
from or in connection with any
injury or damage to any person or property which occurs in the
Subleased Premises, except to the extent caused by the gross negligence or
willful misconduct of Sublandlord.

 

(b) Sublandlord
shall indemnify, defend and hold Subtenant and its agents, employees,
contractors, licensees or invitees, harmless from and against all claims, causes
of action, liabilities, losses, costs and expenses (including attorney s fees)
arising from or in connection with any injury or damage to any person or
property which occurs as a result of Sublandlord s use and occupancy of the
Building (other than the Subleased Premises, except to the extent caused by
Sublandlord s gross negligence or willful misconduct).

 

The
parties hereto, release each other and their respective agents, employees,
successors and assigns from all liability for damage to any property that is
caused by or results from a risk which is actually insured against or which
would normally be covered by the standard form of all risk property insurance,
without regard to the negligence of the entity so released. Each party shall use
its best efforts to cause each insurance policy it obtains to provide that the
insurer thereunder waives all right of recovery by way of subrogation as
required herein in connection with any damage covered by the policy. In
addition, Sublandlord shall request that Prime Landlord obtain a similar
subrogation waiver from Prime Landlord s insurer for the benefit of Subtenant;
however, Sublandlord shall have no liability to Subtenant if such subrogation
waiver is not obtained from Prime Landlord s insurer.

 

(b) Sublandlord
will indemnify, defend, protect, and hold Subtenant and each of Subtenant s
employees, agents, attorneys, successors and assigns, free and harmless from and
against any and all claims, liabilities, penalties, forfeitures, losses or
expenses (including attorney s fees) or death of or injury to any person or
damage to any property whatsoever, arising or caused in while or in part,
directly or indirectly by:

 

(i) the
presence in, on, under or about the Subleased Premises or discharge in or from
the Subleased Premises of any Hazardous Materials placed in, under or about, the
Subleased Premises by Sublandlord or at Sublandl

 

(ii) Sublandlord
s use, analysis, storage, transportation, disposal, release, threatened release,
discharge or generation of Hazardous Materials to, in, on, under, about or from
the Subleased Premises; or

 

(iii) Sublandlord
s failure to comply with any Hazardous Materials Law applicable under the Prime
Lease to Sublandlord.

 

(c) Subtenant
will indemnify, defend, protect, and hold Sublandlord and each of Sublandlord s
employees, agents, attorneys, successors and assigns, free and harmless from and
against any and all claims, liabilities, penalties, forfeitures, losses or
expenses (including attorney s fees) or death of or injury to any person or
damage to any property whatsoever, arising or caused in while or in part,
directly or indirectly by:

 

(i) the
presence in, on, under or about the Subleased Premises or discharge in or from
the Subleased Premises of any Hazardous Materials placed in, under or about, the
Subleased Premises by Subtenant or at Subtenant s direction; or

 

(ii) Subtenant
s use, analysis, storage, transportation, disposal, release, threatened release,
discharge or generation of Hazardous Materials to, in, on, under, about or from
the Subleased Premises; or

 

(iii) Subtenant
s failure to comply with any Hazardous Materials Law applicable under the Prime
Lease to Subtenant.

 

10

 

31. MISCELLANEOUS

 

(a) In no
event shall Subtenant s obligation to surrender the Subleased Premises require
Subtenant to repair or restore the Subleased Premises to a condition better than
the condition in which the Subleased Premises existed as of the commencement
date of the Sublease (subject
to reasonable wear and tear) and
Subtenant shall only be responsible for repairing or restoring those elements of
the Subleased Premises damaged during the Term.
Additionally, Subtenant shall not be required to remove at the expiration of the
Term or
otherwise, alterations or improvements to the Subleased Premises unless
required to do so in accordance with the terms of the Prime Lease.

 

(b) Sublandlord
represents and warrants that as of the Commencement
Date of this
Sublease, no condition exists that does or would with the passage of time
constitute a default under the terms of the Prime Lease and Sublandlord
is not in
breach of any of the terms of the Prime Lease.

 

(c) Sublandlord
represents and warrants that, to the best of Sublandlord s actual knowledge,
there are no Hazardous Materials on or about the Subleased
Premises.

 

(d) Subject to the
time period reflected in the Prime Lease, prior to Subtenant s nonperformance
being deemed a default under this Sublease, Subtenant shall have (i) five (5)
days from the date any monetary obligation is due and owing to Sublandlord to
cure same and (ii) thirty (30) days from receipt of written notice from
Sublandlord that a nonmonetary obligation has not been performed to cure same
(provided, however, if such nonperformance is not curable within said thirty
(30) day period and Subtenant is diligently pursuing said cure, the cure period
shall be extended for up to an additional thirty (30) days.

 

(e) Except as
provided by Prime Lease, Subtenant shall have access to the Subleased Premises
twenty-four (24) hours a day, seven (7) days a week, three hundred sixty-five
(365) days per year.

 

(f) The
covenants, agreements and obligations established herein shall extend to, bind
and inure to the benefit of the parties hereto and to their successors and
assigns.

 

[SIGNATURE
PAGE FOLLOWS]

 

11

 

 

  IN
WITNESS WHEREOF, the parties hereto have caused this Sublease to be properly
executed as of the day and year first above written.

 

 

	 WITNESS: 	 	 	 SUBLANDLORD:
	 	 	 	 
	 	 	 	 New
      Cingular Wireless Services, Inc.
	 	 	 	 f/k/a AT&T Wireless Services,
      Inc.,
	 	 	 	 a Delaware corporation
	 	 	 	 
	 	 	 	 
		 	 	 /s/ Kerri Landeis (SEAL)
	
      

    	 	 	
      

    
	 	 	 	
       Print name:
      Kerri Landeis

       Title: Network
      CFO

 

 

	 WITNESS: 	 	 	 SUBTENANT:
	 	 	 	 
	 	 	 	 BANKRATE, INC., a Florida
      corporation
	 	 	 	 
	 	 	 	 
	 /s/ Bruce J. Zanca	 	 	 /s/ Robert J. DeFranco
      (SEAL)
	
      

       	 	 	
      

       Print name: Robert
      J. DeFranco

       Title:
      Senior Vice President-Chief Financial Officer

	 	 	 	 
		 	 	
	 /s/ Deborah Zsigalov	 	 	 
	
      

       	 	 	

 

 

12

 

PRIME
LANDLORD S CONSENT TO SUBLEASE

 

Prime
Landlord executes this Sublease solely as evidence of its consent to the
Sublease and
Prime Landlord s waiver, with respect to this Sublease only, of the right to
recapture pursuant to Section 10.01(i) of the Prime Lease. Prime
Landlord s consent to this Sublease shall not in any way be deemed a
modification of the Prime Lease. Prime Landlord s consent to this Sublease shall
not relieve Sublandlord of the obligation to obtain Prime Landlord s consent to
any further subleasing.

 

Prime
Landlord s consent to this Sublease shall not relieve Sublandord of any of its
obligations as tenant under the Prime Lease.

 

In the
event of a default by Sublandlord under the Prime Lease resulting in Prime
Landlord terminating the Prime Lease, Prime Landlord hereby agrees to provide
Subtenant with sixty (60) days notice prior to requiring Subtenant to vacate the
Subleased Premises.

 

 

	 ATTEST/WITNESS: 	 	 	 PRIME
    LANDLORD:
	 	 	 	 
	 	 	 	 GARDENS PLAZA INVESTORS,
  LLC,
	 	 	 	 a Florida limited liability
      company
	 	 	 	 
	 	 	 	 
	 /s/ Vilma Gaerta	 	
       By: 
      
	 /s/ David K. Barndt
	
      

       Print Name: Vilma Gaerta	 	 	
      

       Name:
      David K. Barndt

      Title: Vice
      President

	 	 	 	 
		 	 	
	 /s/ Frank Herzog	 	 	 
	
      

       Print Name:
      Frank Herzog	 	 	

 

  

13Exhibit
10.5

AGGREGATOR
AGREEMENT

This
Aggregator Agreement (this “Agreement”) is
entered into as of January 1, 2005 (“Effective
Date”), by
and between Bankrate, Inc., a Florida corporation (“Bankrate”), with
its principal place of business at 11760 U.S. Highway One, 5th Floor,
North Palm Beach, Florida, and iHomeowners, Inc., a California corporation
(“iHomeowners”), with
its offices at 24003 Ventura Boulevard, Building A, Calabasas, CA 91302.

 

RECITALS:

 

A.  iHomeowners,
among other things, is a mortgage data lead aggregator that collects information
from and about potential mortgage applicants and provides such information to
mortgage lenders and other third parties.

 

B.  Bankrate
owns and operates http://www.bankrate.com, the
Internet's leading consumer banking marketplace.

 

C.  Bankrate
and iHomeowners desire to create Co-branded Landing Pages (as defined below)
hosted, operated and maintained by iHomeowners.

 

NOW,
THEREFORE, in
consideration of the mutual covenants and promises recited below, Bankrate and
iHomeowners, intending to be legally bound, hereby agree as
follows:

 

1.  Definitions. The
following terms shall have the following meanings for the purpose of this
Agreement:

 

A.  Advertisements means
iHomeowners’ banner, poster, island and skyscraper graphic advertisements to be
placed on the Bankrate Internet Site.

 

B.  Advertising
Impression means
the one-time display of a graphic advertisement on an electronic site on the
Internet or an on-line service.

 

C.  Bankrate
Brand Marks means
Bankrate’s trademarks, trade names, service marks, logos and designations listed
on Schedule
A.

 

D.  Bankrate
Internet Site means
any electronic site on the Internet or any on-line service where Bankrate
collects revenue for Advertising Impressions, including, without limitation,
Bankrate’s network of co-branded web sites and the Bankrate web site whose URL
is . The
Bankrate web site includes, without limitation, a national database of consumer
bank rates, yields and fees, as well as all news, articles, tips and calculators
for the following product areas: mortgages; credit cards; automobile loans;
savings; checking; ATMs; home equity loans; online banking; small business;
money market; personal loans; taxes; and investing.

 

E.  Bankrate
IP Rights means
Bankrate’s present or future copyrights, trademarks, trade secrets, service
marks, patents and any other intellectual property rights.

 

F.  Bankrate
Materials means
any content or materials that may be provided by Bankrate, in its sole
discretion, for inclusion in the Co-branded Landing Pages.

 

G.  Cause means

 

(i)  Except as
described below, any material breach of this Agreement by either Bankrate or
iHomeowners, which breach is not remedied within thirty (30) days following the
breaching party’s receipt of written notice of such breach, and

 

(ii)  a
material breach of Section 8(A), 8(C), 9, or 10. 

 

 

1

 

H.  Co-branded
Landing Pages means
the co-branded web pages developed pursuant to this Agreement to which Users are
directed to when clicking on any Advertisement, that requests Users to provide
information. 

 

I.  CPM means
cost per thousand Advertising Impressions.

 

J.  Gross
Revenues means
the number of Salable Leads multiplied by the average consideration received or
receivable by iHomeowners arising from, connected with or related to the sale of
all Salable Leads. Gross Revenues shall be calculated on an accrual, not cash,
basis for purposes of this Agreement, and iHomeowners shall be responsible for
all bad debt and uncollectible accounts.

 

K.  Impression
Channel means
all product channels, throughout the Bankrate Internet Site, as determined by
Bankrate in accordance with its standard policies, including the Mortgage, Home
Page, Calculator and Run of Site channels listed on Schedule
B.

 

L.  iHomeowners
Affiliated Entity means
iHomeowners or any of its parents, subsidiaries or affiliates.

 

M.  iHomeowners
Brand Marks means
iHomeowners’ trademarks, trade names, service marks, logos and designations
listed on Schedule
A.

 

N.  iHomeowners
Web Sites means
iHomeowners’ website, whose current URL includes
http://www.loanweb.com.

 

O.  Salable
Lead means
the following:

 

(i)  any
Co-branded Landing Page completed in sufficient detail such that any iHomeowners
Affiliated Entity is able to generate revenue from the User information provided
on the Co-branded Landing Page by providing such User information to a mortgage
lender, other lender or to another iHomeowners Affiliated Entity;
and

 

(ii)  any
Co-branded Landing Page completed in sufficient detail such that the User
information may be utilized by any iHomeowners Affiliated Entity in a manner
similar to those third parties from which a iHomeowners Affiliated Entity would
ordinarily generate revenue by providing such User information under Section
1(O)(i), above.

 

(iii)  iHomeowners
will not redirect any User to any website other than to an iHomeowners
Affiliated Entity.

 

P.  URL means
Uniform Resource Locator, the unique text address for information located on the
Web.

 

Q.  Users means
any and all persons who access the Co-branded Landing Pages or are otherwise
linked to a iHomeowners Affiliated Entity Web site through
Advertisements.

 

R.  Web means
the World Wide Web.

 

2.  Term. The
term of this Agreement (the “Term”) shall commence at 12:00:01 AM Eastern Time
on January 1, 2005, and, unless terminated earlier in accordance with this
Agreement, shall continue until the later of (A) 11:59:59 PM Eastern Time on
December 31, 2005, or (B) such time as Bankrate delivers the total number of
Advertising Impressions specified on Schedule
B.

 

3.  Delivery
of Advertising Impressions.
Bankrate shall deliver to iHomeowners the number of Advertising Impressions,
based on Advertisement and Impression Channel, set forth on Schedule
B.
iHomeowners acknowledges that, despite Bankrate’s efforts to deliver Advertising
Impressions as evenly in number as possible throughout the Term, fluctuations in
the number of Advertising Impressions delivered by Bankrate are likely to occur
due to, among other things, seasonality and traffic spikes on the Bankrate
Internet Site. The content and specifications of Advertisements and Impression
Channels are subject to Bankrate’s standard placement policies. 

 

A.  Bankrate
Advertisement and Impression Channel Adjustments. Bankrate
may, in its discretion, adjust up or down the location and/or position of
Advertisements, Impression Channels, or both, by a maximum of [*] percent
([*]%) from the levels detailed on Schedule
B;
however, in any calendar month, bottom banners will not exceed [*] percent
([*]%) of the total monthly Advertising Impressions to be delivered as indicated
on Schedule
B.

 

[*] Blank spaces contained confidential information that has been
filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 under the Securities Exchange Act of 1934, as amended.

 

2

 

B.  Bankrate
Advertisement and Impression Channel Substitutions. To the
extent Bankrate and iHomeowners determine, in good faith, that the conversion
rate of Salable Leads per Advertisement or per Impression Channel are materially
similar, Bankrate may, in its reasonable discretion, substitute one
Advertisement or Impression Channel with another of a materially similar
conversion rate.

 

Notwithstanding
Bankrate’s rights pursuant to Sections 3(A) and 3(B), the total number of
Advertising Impressions delivered during the Term as provided on Schedule
B shall
not change.

 

4.  Payment.

 

A.  CPM
and Variable Rate Payments.
iHomeowners shall pay Bankrate the following: (i) a fixed rate of $[*]  during
the Term; and (ii) a variable rate of $[*]
during
the Term.

 

B.  Payment
Due.
iHomeowners shall pay all amounts due Bankrate no later than the last day of the
month following the month in which (i) [*]
and (ii)
[*].

 

C.  iHomeowners
Will Not Accept Non-cash Consideration.
iHomeowners will not accept non-cash consideration for Salable
Leads.

 

D.  If
iHomeowners Does Not Pay When Due, Bankrate is Entitled to Interest and
Collection Costs. If
iHomeowners does not make payment when due under this Section 4, interest at the
rate of eighteen percent (18%) per annum, calculated from the date which such
unpaid amounts should have been paid, shall accrue and be owed to Bankrate.
iHomeowners shall also pay Bankrate all collection expenses incurred by
Bankrate, including costs and reasonable attorneys' fees, whether or not
Bankrate is required to commence formal legal action under this Agreement.

 

5.  Co-branded
Landing Pages; Advertisements.

 

A.  Creation
and Maintenance of Co-branded Landing Pages.
iHomeowners shall create and maintain the Co-branded Landing Pages. The
Co-branded Landing Pages shall incorporate and integrate the iHomeowners Brand
Marks, the Bankrate Brand Marks and the Bankrate Materials. Bankrate and
iHomeowners shall mutually agree upon the design, contents and all other
elements of the Co-branded Landing Pages. iHomeowners shall not make any changes
to the Co-branded Landing Pages, Bankrate Brand Marks or the Bankrate Materials
without Bankrate’s prior written consent. The Co-branded Landing Pages shall be
accessible via the Bankrate Internet Site. 

 

B.  Notice
of Ownership and Operation. The
Co-branded Landing Pages shall contain mutually agreed upon notices and
disclaimers (or link to such notices and disclaimers), in a manner and using
language reasonably satisfactory to Bankrate. The notices and disclaimers shall
also provide an e-mail address for iHomeowners to receive comments, questions
and complaints from Users, as detailed in Section 5(H) below.

 

C.  Ownership;
Responsibility for Co-branded Landing Pages. Except
with respect to Bankrate Brand Marks and the Bankrate Materials, iHomeowners
shall retain all rights of ownership over the Co-branded Landing Pages.

 

D.  Operation
and Maintenance of the Co-branded Landing Pages.
iHomeowners shall include links to allow Users to either access or return to
Bankrate Internet Sites from the Co-branded Landing Pages. Bankrate shall
approve such links. 

 

E.  Notices
and Disclaimers.
iHomeowners shall comply with Bankrate’s reasonable requirements with respect to
notices, disclaimers and legends that Bankrate may require iHomeowners to
include on the Co-branded Landing Pages, and any copies, extracts, etc., that
may be derived from the Bankrate Materials.

 

F.  Users
shall Comply with Privacy Policies of Both Bankrate and
iHomeowners.
Bankrate and iHomeowners shall ensure that when a User submits information on
the Co-branded Landing Pages, the User must agree to comply with both
iHomeowners’ and Bankrate’s respective privacy policy.

 

 [*]
 Blank
spaces contained confidential information that has been filed separately with
the Securities and Exchange Commission pursuant to Rule 24b-2 under the
Securities Exchange Act of 1934, as amended.

 

3

 

G.  Advertisements
on Co-branding Landing Pages.
Advertisements on the Co-branded Landing Pages may only be sold upon the mutual
consent of Bankrate and iHomeowners. 

 

H.  Customer
Support. All
customer or technical support inquiries shall be directed to an e-mail address
specified by iHomeowners on the Co-branded Landing Pages. iHomeowners shall
handle all associated first-line customer and technical support for Users.
iHomeowners shall respond to all User comments, questions and complaints
promptly and in a courteous and professional manner. 

 

I.  Project
Managers. Each of
Bankrate and iHomeowners shall designate a project manager, who shall be the
other party’s primary contact under this Agreement. Either Bankrate or
iHomeowners may change its project manager by providing notice to the other
party.

 

J.  Hosting
of the Co-branded Landing Pages.
iHomeowners shall be responsible for hosting, serving and maintaining the
Co-branded Landing Pages, including arranging all hardware and software and
communications links.

 

K.  iHomeowners
Shall Provide Information Necessary to Deliver
Advertisements.
iHomeowners shall provide all information necessary for Bankrate to complete the
Advertisements and deliver the Advertising Impressions detailed on Schedule
B.

 

6.  Reports
Provided by iHomeowners; iHomeowners’ Access to Advertisement Serving System;
Bankrate’s Use of User Information.

 

A.  Bi-Weekly
Reports. Every
other Monday, or, if any such Monday is a federal holiday, the next regular
business day thereafter, iHomeowners shall provide a report to Bankrate, in a
format to be mutually agreed upon by Bankrate and iHomeowners. Such report shall
specify the Gross Revenues and the number of Users and Salable Leads for the
most-recently completed bi-weekly period prior to delivery of such report and
the methodology iHomeowners used to determine the average consideration received
or receivable by iHomeowners arising from, connected with or related to the sale
of all Salable Leads.

 

B.  Monthly
Reports. On the
10th day of
each month, or, if the 10th day is
not a business day, the next regular business day thereafter, iHomeowners shall
provide a monthly report to Bankrate, in a format to be mutually agreed upon by
Bankrate and iHomeowners. Such report shall specify the Gross Revenues and the
number of Users and shall provide Bankrate [*] information collected [*] for the most-recently completed month prior to delivery of such
monthly report and the methodology iHomeowners used to determine the average
consideration received or receivable by iHomeowners arising from, connected with
or related to the sale of all Salable Leads.

 

C.  iHomeowners’
Access to Bankrate's Advertisement Serving System.
Bankrate shall provide iHomeowners with Internet access to its advertisement
serving system that will permit iHomeowners to view the number of Advertisements
served by Bankrate pursuant to this Agreement.

 

D.  Bankrate
Use of User Information.
Bankrate shall not utilize any information collected [*] to Users. Bankrate
shall not market any other services or otherwise utilize any User information
collected [*], except for an e-mail seeking permission to subscribe for
distribution of newsletters published by Bankrate, for a period of [*] ([*]) days
after such User information was submitted to iHomeowners by the
User.

 

7.  Audit
of Information. During
the Term and for up to one (1) year thereafter, Bankrate and its designees may
inspect and/or audit iHomeowners’ business records, on reasonable prior notice,
during regular business hours to (A) determine if iHomeowners is maintaining
accurate business records, accounts, books, data and reports related to this
Agreement and the Co-branded Landing Pages, and (B) to confirm the accuracy of
all amounts payable by iHomeowners to Bankrate pursuant to this Agreement. If
such inspection and/or audit reveals that iHomeowners has understated Variable
Rate payments owed pursuant to Section 4 by [*] percent ([*]%)  or more,
then iHomeowners shall immediately pay the reasonable cost of such audit and/or
inspection, including the cost of outside auditors and counsel if incurred by
Bankrate. iHomeowners shall also immediately pay Bankrate all amounts due to
Bankrate pursuant to Section 4 (whether or not such understatement is at least
[*] percent ([*]%)), and
interest at the rate of eighteen percent (18%) per annum, calculated from the
date which such unpaid amounts should have been paid. The making by iHomeowners
of any payment provided for in this Section 7 shall not be deemed to cure
iHomeowners’ defaults arising out of any understatement or other violation of
this Agreement.

 

 [*]
 Blank
spaces contained confidential information that has been filed separately with
the Securities and Exchange Commission pursuant to Rule 24b-2 under the
Securities Exchange Act of 1934, as amended.

 

 

4

 

8.  Proprietary
Rights and License.

 

A.  Grant
of Bankrate License.
Bankrate hereby grants iHomeowners a worldwide, non-exclusive, royalty-free
license to display the Bankrate Brand Marks and the Bankrate Materials on the
Co-branded Landing Pages. iHomeowners’ use of the Bankrate Brand Marks and
Bankrate Materials on the Co-branded Landing Pages is subject to Bankrate’s
prior approval and the terms and conditions of this Agreement. 

 

B.  iHomeowners
Shall Have No Rights to the Bankrate Brand Marks or Bankrate Materials Other
Than the Bankrate License. iHomeowners
acknowledges that iHomeowners’ use of the Bankrate Brand Marks and Bankrate
Materials shall not create in iHomeowners, nor shall iHomeowners represent it
has, any right, title or interest in or to the Bankrate Brand Marks and Bankrate
Materials other than the license granted by Bankrate in Section 8(A).
iHomeowners shall not challenge the validity of or attempt to register any of
the Bankrate Brand Marks and Bankrate Materials or its interest therein as a
licensee. iHomeowners acknowledges Bankrate’s right to use the Bankrate Brand
Marks and Bankrate Materials and agrees that all goodwill arising as a result of
the use of the Bankrate Brand Marks and Bankrate Materials by iHomeowners shall
inure to the benefit of Bankrate. 

 

C.  Bankrate’s
Right to Revoke the Bankrate License. Should
Bankrate find objectionable any use of the Bankrate Brand Marks and Bankrate
Materials by iHomeowners, Bankrate shall have the right to revoke, with respect
to the objectionable use, the rights granted to iHomeowners under this Agreement
to use the Bankrate Brand Marks and Bankrate Materials, and iHomeowners shall
immediately cease using the Bankrate Brand Marks and Bankrate Materials in the
manner found objectionable by Bankrate. 

 

D.  iHomeowners
May Not Sublicense the Bankrate License.
Notwithstanding anything in this Agreement to the contrary, iHomeowners shall
not be permitted to sublicense the license granted by Bankrate to iHomeowners in
this Agreement to any other party without Bankrate’s prior written
consent.

 

9.  Confidentiality.
 

 

A.  Proprietary
Information. Either
iHomeowners or Bankrate may disclose to the other certain non-public
information, technical and other business information of the disclosing party
that the disclosing party identifies in writing or orally during disclosure as
“Confidential” or “Proprietary” or which the receiving party has reason to
believe is treated as confidential by the disclosing party (“Proprietary
Information”). Bankrate and iHomeowners agree that the terms and conditions
(including economic, legal and other terms) of this Agreement and any agreement
referred to in this Agreement constitute Proprietary Information. 

 

B.  Nondisclosure
of Proprietary Information. The
party receiving Proprietary Information shall use such information solely in
conjunction with its performance under this Agreement and shall not disclose or
otherwise use such information in any other fashion during the Term and for two
(2) years thereafter. 

 

C.  Exception
to Nondisclosure of Proprietary Information. The
receiving party shall not be required to keep confidential such Proprietary
Information that becomes generally available to the public without fault on its
part; is already rightfully in the receiving party’s possession without
restriction prior to its receipt from the disclosing party; is independently
developed by the receiving party; or is rightfully obtained by the receiving
party from third parties without restriction. Each party also may disclose
Proprietary Information (i) to the extent required by law, court order or
regulation, provided that the receiving party shall provide the disclosing party
with written notice prior to any such disclosure and shall cooperate with the
disclosing party, at the disclosing party’s expense, in seeking a protective
order or other limitation on the further disclosure of such information or (ii)
on a “need-to-know” basis under an obligation of confidentiality to its
employees, agents, legal counsel, accountants, banks and other financing sources
and their advisors.

 

10.  Publicity. Neither
Bankrate nor iHomeowners shall make any public announcement or press release
regarding this Agreement without the prior written consent of the other party.
Notwithstanding the foregoing, however, either Bankrate or iHomeowners may,
without the prior approval of the other, issue any press release or make such
other public disclosure with respect to this Agreement as is required under
applicable securities or other laws or any regulation of any securities
exchange, securities trading system or similar regulatory body.

 

 

5

 

11.  Termination;
Effect of Termination.

 

A.  Termination. The
Term may only be terminated (i) in accordance with this Section 11, or (ii) for
Cause. Termination for Cause shall not relieve the breaching party of its
obligations under this Agreement. 

 

B.  Bankrate
May Terminate if iHomeowners changes iHomeowners Web
Sites.
iHomeowners shall promptly notify Bankrate if iHomeowners makes any substantial
changes to the content or functionality of iHomeowners Web Sites. Bankrate may
terminate the Term by providing written notice to iHomeowners if Bankrate, in
its good faith business judgment, decides that such changes make iHomeowners Web
Sites inappropriate or otherwise objectionable or undesirable. 

 

C.  Effect
of Termination. Any
termination pursuant to Section 11 shall be without any further liability or
obligations of the terminating party, other than with respect to any breach of
this Agreement prior to such termination or with respect to any payment
obligations of iHomeowners that accrued prior to such termination.
Notwithstanding anything to the contrary in this Agreement, Sections 4, 6(A),
6(B), 6(D), 7, 8(B), 8(D), and 9 through 14 of this Agreement shall survive the
expiration or termination of the Term. Any termination of the Term shall result
in the automatic revocation of all licenses granted pursuant to this
Agreement.

 

12.  Warranties.

 

A.  Bankrate
Warranties.
Bankrate represents and warrants that (i) it has the full right title and
authority to grant iHomeowners the rights and licenses granted by Bankrate
pursuant to this Agreement and (ii) the Bankrate Brand Marks (when used as
permitted under this Agreement) and the Bankrate Materials will not violate or
infringe any common law or statutory rights of any party, including, without
limitation, patent rights, contractual rights, copyrights, trademark rights and
rights of publicity and privacy or otherwise contains any slanderous or libelous
statements, or any statements that would constitute trade libel or product
disparagement.

 

B.  iHomeowners
Warranties.
iHomeowners represents and warrants that (i) it has the full right, title and
authority to grant Bankrate the rights and licenses granted by iHomeowners
pursuant to this Agreement and (ii) the use of iHomeowners Brand Marks (when
used as permitted under this Agreement), the Co-branded Landing Pages and the
use and operation of the Co-branded Landing Pages will not violate or infringe
any common law or statutory rights of any party, including, without limitation,
patent rights, contractual rights, copyrights, trademark rights and rights of
publicity and privacy or otherwise contains any slanderous or libelous
statements, or any statements that would constitute trade libel or product
disparagement.

 

13.  Indemnification.

 

A.  Bankrate
Indemnification.
Bankrate shall indemnify, defend and hold harmless iHomeowners (and its
officers, directors, employees, agents, representatives, shareholders, attorneys
and affiliates) against any third party claim, suit, action or proceeding
brought against such indemnified party that is based upon or arises out of (i)
Bankrate’s breach or alleged breach of any representation, warranty or
obligation of Bankrate under this Agreement, or (ii) the conduct of Bankrate’s
business, including, without limitation, claims relating to the use of Salable
Leads by Bankrate or third parties receiving such information from Bankrate,
Bankrate’s business methods or Bankrate’s infringement of the intellectual
property rights of a third party. 

 

B.  iHomeowners
Indemnification.
iHomeowners shall indemnify, defend and hold harmless Bankrate (and its
officers, directors, employees, agents, representatives, shareholders, attorneys
and affiliates) against any third party claim, suit, action or proceeding
brought against such indemnified party that is based upon or arises out of (i)
iHomeowners’ breach or alleged breach of any representation, warranty or
obligation of iHomeowners under this Agreement, or (ii) the conduct of
iHomeowners business, including, without limitation, claims relating to the use
of Salable Leads by iHomeowners or third parties receiving such information from
iHomeowners, iHomeowners’ business methods or iHomeowners’ infringement of the
intellectual property rights of a third party. 

 

C.  Indemnification
Procedures. Promptly
after receiving notice of any action, proceeding, claim or potential claim
(collectively, "Claim") which would give rise to a right to indemnification,
such party or parties shall give the party who may become obligated to provide
indemnification hereunder (the "Indemnifying Party") written notice describing
the Claim in reasonable detail. Such Indemnifying Party shall have the right, at
its option, to compromise or defend, at its own expense and by its own counsel,
any such matter involving the Claim. If any Indemnifying Party shall undertake
to compromise or defend any such Claim, they shall promptly notify the parties
seeking indemnification of its intention to do so, and the party seeking
indemnification agrees to cooperate fully with the Indemnifying Party and its
counsel in the compromise of, or defense against, any such Claim. All costs and
expenses incurred in connection with such cooperation (other than the cost of
internal personnel, and the fees and expenses of any attorneys, of the party
seeking indemnification) shall be borne by the Indemnifying Party. In any event,
the party seeking indemnification shall have the right at its own expense to
participate in the defense of such Claim. In no event shall the party seeking
indemnification compromise any such Claim without the written consent of the
Indemnifying Party. The existence or non-existence of insurance shall in no
manner affect the Indemnified Party’s obligations under this Section
13.

 

 

6

 

14.  Miscellaneous.

 

A.  Scope
of Relationship. This
Agreement is intended solely as an agreement to establish and maintain the
Co-branded Landing Pages and no partnership, joint venture, employment, agency,
franchise or other relationship is created hereby. Neither Bankrate nor
iHomeowners shall have the authority to bind or create any obligations for the
other party, nor shall either Bankrate or iHomeowners represent that it is the
agent or authorized representative of the other party.

 

B.  Amendments. The
provisions of this Agreement may not be amended, supplemented, waived or changed
orally, but only by a writing signed by both Bankrate and
iHomeowners.

 

C.  Binding
Effect.
 All of
the terms and provisions of this Agreement are binding upon, inure to the
benefit of, and be enforceable by Bankrate and iHomeowners and their respective
successors and permitted assigns.

 

D.  Counterparts. This
Agreement may be executed in one or more counterparts, each of which shall be
deemed an original, but all of which taken together shall constitute one and the
same instrument. Confirmation of execution by electronic transmission of a
facsimile signature page shall be binding upon any party so
confirming.

 

E.  Assignment. Neither
Bankrate nor iHomeowners shall assign, sublicense or otherwise transfer
(voluntarily, by operation or law or otherwise) this Agreement or any right,
interest or benefit under this Agreement without the prior written consent of
the other party, which consent is not to be unreasonably withheld. 

 

F.  Force
Majeure. Each of
Bankrate and iHomeowners shall be excused from performance of its non-monetary
obligations and the time of any performance shall be extended as reasonably
necessary under the circumstances, to the extent that such party is prevented
from performing its obligations under this Agreement, as a result of acts of
God, any governmental authority (except as defined below), war, civil
disturbance, court order, labor dispute, or computer viruses, worms, Trojan
horses, trap doors, back doors, Easter eggs, time bombs, cancelbots or other
code or computer programming routines that contain contaminating or destructive
properties that occur due to circumstances beyond the party’s control, or any
other cause beyond its reasonable control. A party who is prevented from
performing for any reason shall immediately notify the other party of the cause
for such non-performance and the anticipated extent of the delay.

 

G.  Arbitration.

 

(i)  Arbitration
Procedures.
Notwithstanding anything to the contrary in this Agreement, all claims for
monetary damages and disputes relating in any way to the performance,
interpretation, validity, or breach of this Agreement (and specifically
excluding the seeking by a party of injunctive relief which shall be subject to
Section 14(J)) shall be referred to final and binding arbitration, before a
single arbitrator, under the commercial arbitration rules of the American
Arbitration Association in Palm Beach County, Florida. The parties shall select
the arbitrator and if the parties are unable to reach agreement on selection of
the arbitrator within ten (10) days after the notice of arbitration is served,
then the American Arbitration Association shall select the arbitrator. All
documents, materials, and information in the possession of a party to this
Agreement and in any way relevant to the claims or disputes shall be made
available to the other parties for review and copying not later than sixty (60)
days after the notice of arbitration is served.

 

(ii)  Restrictions
on Disclosure of Confidential Information. To the
extent that a party would be required to make Proprietary Information or other
confidential information available to any other, an agreement or an order shall
be entered in the proceeding protecting the confidentiality of and limiting
access to such information before a party is required to produce such
information. Information produced by a party shall be used exclusively in the
arbitration or litigation that may arise, and shall not otherwise be
disclosed.

 

(iii)  No
Right to Punitive Damages. In no
event shall Bankrate or iHomeowners be entitled to punitive damages in any
arbitration or judicial proceeding and all parties hereby waive their rights to
any punitive damages. In the event an arbitration panel or a court concludes
that the punitive damages waiver contained in the previous sentence is
unenforceable, then the parties agree that the court with subject matter
jurisdiction over the confirmation of the award shall have sole and exclusive
jurisdiction to determine issues of entitlement and amount of punitive
damages.

 

 

7

 

(iv)  Limitation
on Arbitrator’s Subject Matter Jurisdiction. The
arbitrator shall NOT have subject matter jurisdiction to decide any issues
relating to the statute of limitations or to any request for injunctive relief,
and the parties hereby stipulate to stay the arbitration proceeding (without the
need of a bond) until any such issues in dispute are resolved. Judgment upon the
award rendered by the arbitrator shall be final, binding and conclusive upon the
parties and their respective administrators, personal representatives, legal
representatives, heirs, successors and permitted assigns, and may be entered in
any court of competent jurisdiction.

 

H.  Equitable
Remedies. Each of
Bankrate and iHomeowners acknowledges that Bankrate and iHomeowners may be
irreparably damaged (and damages at law may be an inadequate remedy) if Sections
6(A), 6(B), 6(D), 7, 9, 10 and 13 of this Agreement are not specifically
enforced. Therefore, in the event of a breach or threatened breach by any party
of such Sections of this Agreement, the other party shall be entitled, in
addition to all other rights or remedies, to seek an injunction restraining such
breach.

 

I.  Governing
Law. This
Agreement and all transactions contemplated by this Agreement shall be governed
by, and construed and enforced in accordance with, the laws of the State of
Florida, without reference to its conflict of laws rules.

 

J.  Jurisdiction
and Venue.
Bankrate and iHomeowners acknowledge that a substantial portion of the
negotiations, anticipated performance and execution of this Agreement occurred
or shall occur in Palm Beach County, Florida. Any civil action or legal
proceeding arising out of or relating to this Agreement shall be brought in the
courts of record of the State of Florida in Palm Beach County or the United
States District Court, Southern District of Florida, West Palm Beach Division.
Each of Bankrate and iHomeowners consents to the jurisdiction of such court in
any such civil action or legal proceeding and waives any objection to the laying
of venue of any such civil action or legal proceeding in such court. Service of
any court paper may be effected on such party by mail, as provided in this
Agreement, or in such other manner as may be provided under applicable laws,
rules of procedure or local rules.

 

K.  Severability. If any
provision of this Agreement is contrary to, prohibited by or deemed restated, in
accordance with applicable law, to reflect as nearly as possible the original
intention of the parties and the remainder of this Agreement shall not be
invalidated thereby and shall be given full force and effect so far as possible.
If any provision of this Agreement may be construed in two or more ways, one of
which would render the provision invalid or otherwise voidable or unenforceable
and another of which would render the provision valid and enforceable, such
provision shall have the meaning that renders it valid and
enforceable.

 

L.  Third
Parties. Unless
expressly stated in this Agreement to the contrary, nothing in this Agreement,
whether express or implied, is intended to confer any rights or remedies under
or by reason of this Agreement on any persons other than Bankrate and
iHomeowners and their respective successors and permitted assigns. Nothing in
this Agreement is intended to relieve or discharge the obligation or liability
of any third persons to any party to this Agreement, nor shall any provision
give any third persons any right of subrogation or action over or against
Bankrate or iHomeowners.

 

M.  Notices. All
notices, requests, consents and other communications required or permitted under
this Agreement shall be in writing and shall be (as elected by the person giving
such notice) hand delivered by messenger or courier service, or mailed (airmail
if international) by registered or certified mail (postage prepaid), return
receipt requested, addressed to:

 

	 If to Bankrate:	 	 With a Copy
  to:
	 	 	 
	
      Laurence
      Lougheed
	 	
      David
      G. Bates, Esq.

	
      Vice
      President, Operations
	 	
      Gunster,
      Yoakley & Stewart, P.A.

	
      Bankrate,
      Inc.
	 	
      777
      S. Flagler Drive, Suite 500E

	
      11760
      U.S. Highway One, 5th
      Floor
	 	
      West
      Palm Beach, Florida 33401

	
      North
      Palm Beach, Florida 33408-8888
	 	 
			

 

 

 

8

 

 

	
      If
      to iHomeowners:
		
      With
      a Copy to:

	 	 	 
	
      Keith
      Moore
	 	 
	
      Vice
      President - Marketing
	 	 
	
      iHomeowners,
      Inc.
	 	 
	
      24003
      Ventura Blvd., Building A
	 	
       

	
      Calabasas,
      CA 91302
	 	
       

 

 

 

or to
such other address as either Bankrate or iHomeowners may designate by notice
complying with the terms of this Section. Each such notice shall be deemed
effective upon receipt or refusal.

 

N.  Entire
Agreement. This
Agreement and any and all schedules are the complete and exclusive agreement
between the parties with respect to the subject matter hereof, superseding and
replacing any and all prior agreements, communications and understandings (both
written and oral) regarding such subject matter.

 

O.  WAIVER
OF JURY TRIAL. BANKRATE
AND iHOMEOWNERS HEREBY MUTUALLY WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING,
OR COUNTERCLAIM BROUGHT BY EITHER BANKRATE AND iHOMEOWNERS AGAINST THE OTHER AND
BASED UPON, ARISING OUT OF, OR CONNECTED WITH, THIS AGREEMENT.

 

P.  Disclaimer;
Limitation of Liability. EXCEPT
AS OTHERWISE PROVIDED IN THIS AGREEMENT, BANKRATE AND iHOMEOWNERS SPECIFICALLY
DISCLAIMS ANY EXPRESS OR IMPLIED WARRANTIES, INCLUDING, WITHOUT LIMITATION,
WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE, OR MERCHANTABILITY OR AGAINST
INFRINGEMENT. EXCEPT WITH RESPECT TO EACH PARTY’S INDEMNIFICATION OBLIGATIONS
UNDER SECTION 13 OF THIS AGREEMENT, IN NO EVENT SHALL EITHER BANKRATE OR
iHOMEOWNERS BE LIABLE FOR ANY INDIRECT, CONSEQUENTIAL, SPECIAL, INCIDENTAL OR
PUNITIVE DAMAGES, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH
DAMAGES.

 

 

[SIGNATURES
APPEAR ON NEXT PAGE]

 

 

9

 

IN
WITNESS WHEREOF,
Bankrate and iHomeowners have executed this Agreement as of the date and year
first written above.

 

	 Bankrate, Inc.	 	 	 iHomeowners, Inc.
	 	 	 	 
	 	 	 	 
	 /s/ G.
      Cotter Cunningham	 	 	 /s/ Keith
      A. Moore
	
      

    	 	 	
      

    
	 Its: Chief
      Operating Officer 	 	 	 Its: Vice
      President-Marketing
	 Date: January
      25, 2005  	 	 	 Date: December
      27, 2004

 

 

10

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