Document:

Esther
      Rajchenbach

     

    License
      Agreement

     

    Made
      as
      of the 23 day of June 2003 (the “Effective
      Date”)

     

    By
      and
      between Maimonides Innovative Technologies Ltd. (“Maimonides”),
      of
      the first part, and Rosetta Genomics Ltd (“Rosetta”),
      of the
      second part.

     

    Whereas
      Maimonides declares that it is the sole owner of a multi-lingual text generation
      software technology, patented under US patent no. 6,289,513B1 (the“Licensed
      Technology”);
      and

     

    Whereas
      Rosetta
      desires to obtain a paid-up, exclusive, irrevocable, world wide license from
      Maimonides to use the Licensed Technology for generation and/or translation
      of
      genomic patent-applications, and Maimonides is willing to grant Rosetta such
      license, all subject to the terms and conditions set forth in this
      Agreement.

     

    NOW
      THEREFORE it is agreed as follows:

     

     

    
      	
              1.

            	
              Maimonides
                hereby grants Rosetta, with a paid-up, exclusive, irrevocable, worldwide
                license to use the Licensed Technology, for generation and/or translation
                of patents patent-applications of other related documents in the
                genomic
                field (the “License”)

            

    

     

    
      	
              2.

            	
              Rosetta
                shall be entitled to use, in the scope of the License free of any
                additional charge, any upgrades to the License
                Technology.

            

    

     

    
      	
              3.

            	
              The
                term of the License granted hereunder is for a period is for 20 Years
                from
                the Effective Date

            

    

     

    
      	
              4.

            	
              In
                consideration for the License Rosetta will pay Mimoinides a aggregate
                consideration of up to $100,000 under the following
                conditions:

            

    

     

    
      	
              4.1

            	
              An
                amount of $10,000 will be paid by Rosetta within 30 days following
                signature of the Agreement.

            

    

     

    
      	
              4.2

            	
              An
                amount $10,000 will be paid within a period of 30 days following
                the date
                in which Rosetta will close an investment transaction, pursuant to
                which
                Rosetta will raise aggregate investments of at least
                $2,000,000.

            

    

     

    
      	
              4.3

            	
              An
                additional amount of $up to 80,000 will be paid as quarterly royalties
                equal to 5% of the net revenues of the Rosetta from sales and licenses
                of
                its products in each respective calendar quarter (the “Royalties) The
                Royalties due for each calendar quarter in which Rosetta accumulated
                net
                revenues will be paid within 30 days of the end of such calendar
                quarter .
                Rosetta will not be obligated any Royalties once it had completed
                payment
                of aggregate royalties of $80,000.

            

    

     

    
      	
              5.

            	
              Rosetta
                recognizes and acknowledges that the Licensed Technology solely belongs
                to
                Maimonides, which subject to the provisions of the License granted
                hereunder is and shall remain its sole
                owner.

            

    

     

    
      	
              6.

            	
              Maimonides
                agrees and acknowledges that Rosetta is the owner of and shall own
                any and
                all intellectual property, works or documents created, or developed
                by
                Rosetta with use of the Licensed Technology under the terms of this
                Agreement

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
              7.

            	
              Maimonides
                hereby agrees and acknowledges that the License granted hereunder
                will
                also cover any use previously made by Rosetta prior to the Effective
                Date,
                with respect to generation of genomic patent applications, and waives
                any
                right to receive any consideration for such
                use.

            

    

     

    
      	
              8.

            	
              Each
                party shall keep the content of this Agreement and any information
                regarding the other party’s technology, business and operations party
                secret, and ____ protect and preserve the confidential nature and
                secrecy
                of such information for the duration of this Agreement and for ten
                (10)
                years after its termination or
                expiry.

            

    

     

    
      	
              9.

            	
              This
                Agreement shall be governed by the laws of the state of Israel, and
                the
                competent courts in Tel Aviv shall have sole jurisdiction in any
                dispute
                relating to this Agreement.

            

    

     

    
      	
              10.

            	
              This
                Agreement constitutes the entire understanding of the parties and
                supersedes all oral or written representations or agreements, privileges
                or understandings between the
                parties.

            

    

     

    In
      witness whereof the parties have set their signatures
      hereunto:

     

    
      	/s/
              Illegible	 	 	/s/
              Illegible
	
              Maimonides
                des Innovative Technologies Ltd.

            	 	
               

            	
              Rosetta
                Genomics Ltd.

            
	 	 	 	 

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Addendum
      to

    License
      Agreement

     

    Made
      as
      of the 3rd
      day of
      July 2003(the “Effective
      Date”)

     

    By
      and
      between Maimonides Innovative Technologies Ltd. (“Maimonides”),
      of
      the first part, and Rosetta Genomics Ltd. (“Rosetta”),
      of
      the second part;

     

    Whereas
      the
      parties have previously entered into a License Agreement, dated June 23, 2003
      (the “Agreement” ), pursuant to which Rosetta has licensed the Licensed
      Technology (as defined in the Agreement ) from Maimonides under the terms set
      forth in the Agreement, and -

     

    Whereas
      the
      parties wish to include additional conditions to the terms of the Agreement,
      all
      as set forth in this Addendum, which will form an internal part of the
      Agreement;

     

    NOW
      THRERFORE it is agreed as follows:

     

    
      	
              1.

            	
              Any
                capitalized terms used in this Addendum ( including its preamble)
                and not
                defined herein shall have the meaning assigned to such terms in the
                Agreement.

            

    

     

    
      	
              2.

            	
              It
                is recorded and agreed that:

            

    

     

    
      	
              2.1

            	
              Maimonides
                will deposit, within 7 days of signature of this Addendum, a copy
                of the
                source code of the Licensed Technology at Rosetta (i.e. the software
                of
                the Licensed Technology in its original human-readable form and language,
                the “Source
                Code”).
                Rosetta will hold the Source Code in safe place during the term of
                the
                License, in order to ensure Rosetta’s capability to utilize the Licensed
                Technology under the terms of the License. The Source Code will be
                immediately returned to Maimonides upon expiration of the term of
                the
                License.

            

    

     

    
      	
              2.2

            	
              Maimonides
                shall from time to time deliver to Rosetta any updates/or upgrades,
                which
                may be developed by Maimonides with respect to the Licensed Technology,
                within fourteen (14) days from the date of completion of their development
                (such delivery will include an amended Source Code including such
                updates
                and/or upgrades). Rosetta shall be entitled to use such updates and/or
                upgrades in the scope of the License, free of any additional
                charge.

            

    

     

    
      	
              3.

            	
              This
                Addendum shall form an integral part of the
                Agreement.

            

    

     

    In
      witness whereof the parties have set their signatures
      hereunto:

     

    
      
        	
                /s/
                  Illegible

              	 	 	
                /s/
                  Illegible

              
	
                Maimonides
                  Innovative Technologies Ltd.

              	 	 	
                Rosetta
                  Genomics Ltd.MADAI'IM
      1

     

    Contract
      of Lease

     

    Made
      and
      Entered into in Rehovot on the 4th
      August
      2003 

     

    -
      BETWEEN
      -

    

    
      	
            	1.	
              Rorberg
                Contractors and Investors (1963)
                Ltd.

            

    

    A
      Private
      Registered Company Number 51 - 041126 - 7

    
      	
            	2.	
              Tazor
                Development Ltd.

            

    

    A
      Private
      Registered Company Number 51 - 196 01 -1

    Whose
      address for the purpose of this Contract is care of

    Rorberg
      Contractors and Investors (1963) Ltd

    Of
      9
      Bonei Hair Street, Tel Aviv

    Both,
      herein referred to, jointly severally

    (Hereinafter(“The
      Contractor”
      )

    

    The
      First Party

    

    -
      AND BETWEEN -

    

    Rosetta
      Genomics Ltd.

    Private
      Registered Company 5 192 138 8 

    Whose
      address for the purpose of this Contract is at

    10
      Flaut
      Street, Rabin Park, Rechovot.

    (Hereinafter:
      “The
      Lessee”)

    

    The
      Second Party

     

    Preamble

     

    Whereas
      the Contractor declares that:

     

    
      	
              A.

            	
              It
                is entitled to be registered as the owner of part of the rights in
                the
                plot in an area of 5,948 m2,
                known as plot 1009 in accordance with Town Building Plan RH/2005/A
                (hereinafter: "The
                Town Building Plan")
                located at 10 Flaut street in Rehovot in the area of the T.M.R Park
                in the
                name of Yitzhak Rabin (then after: "The
                Land").

            

    

     

    
      	 	
              The
                permitted uses of the Land in accordance with the Town Building Plan
                are,
                inter
                alia,
                for office buildings and high tech industrial installations or for
                industrial research and development and/or for medical and/or biotechnical
                and/or agricultural research and development, and all as specified
                in the
                Town Building Plan documents.

            

    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

       

      
        
          	
                  B.

                	
                  It
                    has constructed a building on the Land known as Madai'im 1 (hereinafter:
                    "The
                    Building"
                    or
                    "The
                    Project").

                

        

         

        
          	
                  C.

                	
                  Within
                    the framework of the Building ERES have been included on the
                    3rd
                    floor above the ground and the gallery floors, which are delineated
                    with a
                    red line in the plans attached as Appendix
                    A1
                    of
                    the Contract (hereinafter: "The Unit")
                    and also 5 uncovered parking spaces marked as numbers 38 42 in
                    the plans
                    attached as Appendix
                    A2
                    of
                    this Contract. (The Unit and the parking hereinafter be referred
                    to,
                    generally as: "The Property").

                

        

         

        
          	
                  D.

                	
                  The
                    Contractor holds the exclusive right to be registered as the
                    owner of the
                    Property and it exclusively holds the Property and there is no
                    legal or
                    other preclusion on the part of the Contractor preventing it
                    from taking
                    upon itself the undertakings as stipulated in this Contract for
                    the
                    leasing out of the Property to the Lessee.

                

        

         

        And
          Whereas:

         

        
          	
                  E.

                	
                  The
                    Lessee wishes to lease the Property from the Contractor and the
                    Contractor
                    wishes to lease out the Property to the Lessee under free and
                    unprotected
                    lease.

                

        

         

        
          	
                  F.

                	
                  The
                    parties agree that the Unit area for the purpose of this Contract
                    is 603
                    m2
                    (the area of the unit including walls and in addition of multiplication
                    of
                    1.2 for the relative part of the common areas in the
                    Building).

                

        

         

        
          	
                  G.

                	
                  And
                    the parties have reached an agreement on the terms and conditions
                    of the
                    undertaken between them. 

                

        

         

        Therefore
          it is declared agreed and stipulated between the parties as
          follows:

         

        
          	
                  1.

                	
                  The
                    Preamble, Headings and
                    Appendices.

                

        

         

        
          	
                	1.1	
                  The
                    preamble to this Contract and the declarations contained therein
                    constitute an integral part hereof.

                

        

         

        
          	
                	1.2	
                  The
                    appendices to this Contract constitute an integral part
                    hereof.

                

        

         

        
          
            
            

          

          
            2

            
              

            

          

          
            
            

          

        

         

        
          	
                	1.3	
                  The
                    headings of this Contract are provided for the sake of convenience
                    for
                    reading and orientation only and no use is to be made thereof
                    for the
                    interpretation thereof.

                

        

         

        
          	
                  2.

                	
                  The
                    Main Principles of the Transaction and the Parties
                    "Declarations".

                

        

         

        
          	
                	2.1	
                  The
                    Contractor leases out the Property to the Lessee and the Lessee
                    leases the
                    Property from the Contractor and all in accordance with the terms,
                    conditions and for the consideration as stipulated in this
                    Contract.

                

        

         

        
          	
                	2.2	
                  The
                    Lessee hereby confirms that it has not paid and shall not pay
                    and has not
                    undertaken to pay any key money whatsoever to the Contractor
                    in connection
                    with the leasing of the Property under this Contract but rather
                    shall pay
                    Rental Payments to the Contractor for the period of the Lease
                    Term.

                

        

         

        
          	
                	2.3	
                  It
                    is hereby expressly agreed and stipulated that the provisions
                    of the
                    Protected Tenancy (Consolidated Version), 5732 - 1972 and/or
                    any other law
                    replacing it and/or supplementing it and/or amending any of the
                    said laws
                    and/or regulations pursuant to those laws shall not apply to
                    the leasing
                    of the Property to the Lessee under this Contract and that the
                    lease under
                    this Contract shall not be protected pursuant to those provisions
                    in any
                    form whatsoever.

                

        

         

        
          	
                	2.4	
                  The
                    Lessee hereby declares that it has visited the Project area and
                    that it
                    has viewed the Land and also that it has examined such and that
                    it knows
                    all the details, conditions and circumstances, vis-à-vis the physical,
                    legal, surrounding, planning and permitted uses, in connection
                    with the
                    Land, the Town Building Plan and the Property and that they are
                    suitable
                    for its requirements in all aspects and without limitation and
                    that it has
                    done so in such a matter that it hereby waves any claim for unsuitability
                    or any other similar claim with reference
                    thereto.

                

        

         

        
          
            
            

          

          
            3

            
              

            

          

          
            
            

          

        

        
          	
                	2.5	
                  The
                    parties hereby agree that the Property shall serve for the purpose
                    of the
                    management of the Lessee's business in the biotechnical
                    field.

                

        

         

        The
          Lessee undertakes to obtain all the permits and licenses required for the
          purpose of the operating of the Property for the above stated purpose in
          its
          name and to operate the business managed in the Property pursuant to the
          terms
          and conditions of the permits and licenses and subject to the provisions
          of any
          law.

         

        In
          order
          to eliminate any doubt, it is hereby agreed and declared that the full
          responsibility for the obtaining and updating of the licenses and the permits,
          as stated above, is imposed upon the Lessee alone and the Contractor's
          consent
          to lease out the Property for the above said purposes shall not impose
          any
          obligation whatsoever on the Contractor towards the Lessee in this matter
          and
          the Lessee shall have no claim whatsoever against the Contractor in connection
          with this matter provided that the Contractor has cooperated with the Lessee,
          as
          required on the part of an owner of a property, in order for the Lessee
          to
          receive the above said licenses and permits. 

         

        Without
          prejudicing the other remedies available to the Contractor pursuant to
          the
          provisions of this Contract in pursuant to any law, it is hereby expressly
          agreed that if the Lessee does not obtain a license and/or a permit as
          is
          required under law and/or if the Lessee has not acted pursuant to the terms
          and
          conditions required in law for the management of the business in the Property
          and/or for use it is making in the Property, and any third party, including
          a
          governmental, municipal or other authority, acts against the Contractor
          and/or
          any of its directors, whether by turning to the courts or by the imposition
          of
          fines or whether by any other way available to it in law, the Lessee shall
          indemnify the Contractor and/or any of its directors, accordingly, for
          the full
          expenses, consequences and damages caused to it and sustained by it including
          finds and attorneys' fees, and shall do so in 14 days from being demanded
          to do
          so in acting

         

        
          
            
            

          

          
            4

            
              

            

          

          
            
            

          

        

        
          	
                	2.6	
                  The
                    Contractor undertakes to deliver possession in the Property to
                    the Lessee
                    and the Lessee undertakes to receive the possession of the Property
                    and
                    all in accordance with the terms and conditions of this Contract.
                    

                

        

         

        The
          provisions of this section are fundamental provisions of the Contract and
          a
          breach thereof or the breach of any one of these conditions shall be considered
          as a fundamental breach of the Contract.

         

        
          	
                  3.

                	
                  The
                    Building

                

        

         

        
          	
                	3.1	
                  The
                    Contractor shall deliver the Property to the Lessee As
                    Is,
                    however, such shall not derogate from the undertakings of the
                    Contractor
                    to whitewash the walls and to clean the areas in that part of
                    the Property
                    marked in yellow in the plans Appendix
                    A1 of
                    the Contract and to do so within 2 working days from the delivery
                    of
                    possession in the Property (however, the completion processes
                    for the
                    purpose of these works may also be done after the elapse of 2
                    working days
                    as stated) and to carry out cleaning of the filters on the air
                    conditioners in the Property and to check the working order of
                    the
                    electricity infrastructure as exists in the Property and to do
                    so within 7
                    working days from delivery of possession in the
                    Property.

                

        

         

        
          	
                  4.

                	
                  Reserving
                    of Rights

                

        

         

        
          	
                	4.1	
                  It
                    is expressly agreed that all the Contractor's rights as stipulated
                    in
                    Section 4 below are subject to the realization thereof not preventing
                    the
                    Lessee reasonable use of the Property for the lease purposes
                    and access of
                    the Lessee to the Property.

                

        

         

        
          	
                	4.2	
                  The
                    provisions of this Contract do not restrict the Contractor in
                    its use,
                    utilization, designation and planning of the Land and do not
                    vest any
                    right in the Lessee towards the Contractor and/or towards others
                    regarding
                    the nature of the Land, the applicable limitations, utilization,
                    designation and planning of the Land provided that such does
                    not prevent
                    the reasonable use of the Lessee in the Property and the fulfillment
                    of
                    the other express obligations of the Contractor towards the Lessee
                    under
                    this Contract.

                

        

         

        
          
            
            

          

          
            5

            
              

            

          

          
            
            

          

        

        
          	
                	4.3	
                  The
                    Lessee holds the right to further build on the additional presently
                    existing areas in the Building and also to further add in the
                    presently
                    existing in the Building, whether such is prior to the delivery
                    of
                    possession in the Property to the Lessee or thereafter and all
                    at the
                    exclusive discretion of the Contractor and without any limitation
                    whatsoever on the part of the Lessee regarding the number of
                    units, the
                    sort, shape, location, size and use of such units and the Lessee
                    undertakes not to make any claim in connection with the Building
                    and/or
                    non building of any part of the Project in any of its
                    stages.

                

        

         

        The
          Contractor holds the right to cause a change to the Town Building Plan
          applicable to the Land and also to build the Project and to execute the
          Works,
          alterations and additions, continuously or in stages, in any form whatsoever,
          in
          accordance with the existing building permit, if any, or in accordance
          with the
          building permit or the amendment thereof in the future. Similarly, the
          Contractor reserves the right to build, at any stage, any building whatsoever,
          in any of the areas on the Land and/or in the Project, and to do so in
          any form
          and manner and any number of floors whatsoever, and the Contractor may
          alter the
          planning of the Project and the Building in general, full or part, to limit
          and/or minimize the number of units in the Project, whether within the
          frame of
          the existing Town Building Plans or by executing changes there in, and
          all as
          the Contractor shall deem fit and subject to any law provided that it does
          not
          do so with respect of the Property and that such does not prevent the Lessee
          from the reasonable use of the Property.

         

        
          	
                	4.4	
                  The
                    Lessee hereby undertakes not to object to any amendment to the
                    Town
                    Building Plan and to refrain from any action and omission which
                    is likely
                    to prevent, postpone, delay, interfere and/or disrupt the proceedings
                    and
                    processes for the amending of the Town Building Plan and/or the
                    building
                    pursuant to the Town Building Plan and/or any amendment to the
                    Town
                    Building Plan. The Lessee declares and confirms that it is aware
                    that the
                    Contractor has entered into this agreement with it based on its
                    consent
                    and it is about consent and undertaking.

                

        

         

        
          
            
            

          

          
            6

            
              

            

          

          
            
            

          

        

        
          	
                	4.5	
                  Without
                    such prejudicing the generality of the above said, the Lessee
                    hereby
                    expressly confirms that it is aware that the Contractor is likely
                    to build
                    the Building in a number of stages and that it is aware that
                    within the
                    framework of the said building noise, nuisances and/or inconveniences
                    are
                    likely to be caused involved with the continued construction
                    of the
                    Project and that this may continue even after the delivery of
                    possession
                    in the Property to the Lessee.

                

        

         

        The
          Lessee, by its signing on this Contract, grants its consent to the execution
          of
          the full construction works required by the Contractor for the purpose
          of
          realizing its full construction rights in the Land (those presently existing
          and
          those as shall exist in the future), and that it agrees to such despite
          the
          noise, nuisance and inconvenience involved with such provided that such
          shall
          not prevent the use of the Property by the Lessee. The Lessee also agrees
          to
          refrain from any action and emission which is likely to prevent, delay,
          postpone, interfere with or disrupt the execution of the construction works.
          The
          Lessee declares and confirms that it is aware that the Contractor had entered
          into this Contract with it in reliance on its consent and undertakings
          as stated
          above. 

         

        
          	
                	4.6	
                  The
                    Contractor and/or anyone on its part shall be entitled at any
                    time
                    whatsoever to install and/or post through any part of the Land,
                    the
                    Building and the Property, various installations and systems,
                    including
                    water piping, heating, electricity, drainage, sewage, channeling
                    of water,
                    gas, telephone and communication cables, air conditioning system
                    parts
                    regardless of whether such serve the Property or if it serves
                    other
                    properties, provided that such is carried out at reasonable times
                    and in
                    cooperation with the Lessee and without such harming the Lessee's
                    reasonable use of the Property and/or the lessee's equipment
                    in the
                    Property.

                

        

         

        
          
            
            

          

          
            7

            
              

            

          

          
            
            

          

        

        
          	
                	4.7	
                  The
                    Lessee shall enable the Contractor and anyone on its part to
                    enter into
                    the Property (even after delivery of such to the Lessee) to carry
                    out all
                    works and actions required for the purpose of the construction,
                    including
                    maintenance and/or repair works, at one time or in parts or at
                    different
                    times, according to need, provided that such is carried out at
                    reasonable
                    times and after prior cooperation with the Lessee and without
                    such harming
                    the reasonable use of the Lessee in the
                    Property.

                

        

         

        
          	
                	4.8	
                  The
                    Contractor may cause the registration of regulations for the
                    condominium
                    pursuant to Sections 62 and 63 of the Land Law. The regulations
                    shall be
                    drafted by lawyers considering the character of the Building
                    and the
                    Project. The Contractor may have included in the regulations,
inter
                    alia,
                    provisions determining the relations between the unit holders,
                    provisions
                    regarding contracting in a management agreement as mentioned
                    in this
                    Contract below, and regarding the duties and obligations of the
                    various
                    holders of position in the properties within the Project regarding
                    the
                    passage way arrangements and the use of the Property for the
                    examining,
                    repair or replacement of piping and systems which pass through
                    the
                    Property or any part thereof, regarding limitations on changes
                    to the
                    properties, regarding the division of expenses involved with
                    the services,
                    regarding the excision of areas from the common property and
                    the
                    attachment thereof to certain properties in the Building, regarding
                    the
                    rights in the common property and the nature of the use thereof,
                    regarding
                    the securing of the Contractor's rights, the rights of property
                    holders,
                    of the Lessee, etc.

                

        

         

        The
          said
          regulations shall not impose any financial obligation on the Lessee whatsoever
          which exceeds that as stipulated in this Contract and/or
          thereunder.

         

        
          
            
            

          

          
            8

            
              

            

          

          
            
            

          

        

        
          	
                  5.

                	
                  Alterations
                    and Additions to the
                    Property.

                

        

         

        
          	
                	5.1	
                  Subject
                    to that stipulated in subsection 5.2 below, the Lessee undertakes
                    not to
                    execute any alterations or additions to the Property or outside
                    of the
                    Property to Lease Term and as it has received the prior written
                    consent of
                    the Contractor and subject to the obtaining of the permits and
                    the
                    licenses required from the competent
                    authorities.

                

        

         

        Should
          any alteration or addition whatsoever be carried out, then at the end of
          the
          Lease Term such alteration and/or addition and/or improvement, as stated
          above,
          shall remain the exclusive property of the Contractor without the Contractor
          being required to pay any constellation whatsoever to the Lessee unless
          the
          Contractor had demanded of the Lessee to return the situation to the
status
          quo ante
          and to
          remove the above said improvement and/or alteration and/or addition and
          in such
          a case the Lessee must remove at its expense, and return the situation
          to the
status
          quo ante
          and if
          it does not do so the Lessee shall pay the Contractor any amount incurred
          by the
          Contractor for such removal.

         

        It
          is
          expressly clarified that any alteration or addition or improvement as stated
          shall not be considered as payment of key money.

         

        
          	
                	5.2	
                  The
                    parties agree in advance that the Lessee shall be entitled to
                    carry out
                    internal works in the Property in order to prepare it for lease
                    purposes
                    and that it shall do so at the exclusive expense and responsibility
                    of the
                    Lessee provided that it issues the Contractor with the execution
                    plans for
                    the works prior to the actual execution thereof and the Contractor
                    has
                    approved then for execution. The Contractor undertakes not to
                    refuse to
                    approve the execution of the works in accordance with the plans
                    issued to
                    it as stated by the Lessee unless such involves works which are
                    likely to
                    harm the Building and/or its systems and/or the alter appearance
                    of the
                    Building. 

                

        

         

        
          
            
            

          

          
            9

            
              

            

          

          
            
            

          

        

        Similarly,
          the Contractor undertakes to pay in consideration for the above works executed
          in the Property, at the at the Lessee's written request up to the limit
          of an
          amount in New Israel Shekels equivalent to $10,000 and against the receipt
          of a
          duly issued tax invoice to be issued to it at the responsibility of the
          Lessee.
          The payments shall be carried out within 14 days from receiving the said
          invoice. 

         

        
          	
                	5.3	
                  It
                    is agreed that the signage in the Property shall be within the
                    framework
                    of the general signage for the Building and that the Lessee shall
                    be
                    permitted to place signage of the size and shape to be agreed
                    upon by the
                    architect on behalf of the Contractor next to or on the entrance
                    door into
                    the Unit and all in accordance with and subject to the instructions
                    of the
                    Contractor and the management company. The cost for the execution
                    of
                    signage should apply to the Lessee.

                

        

         

        
          	
                  6.

                	
                  The
                    Lease Term

                

        

         

        
          	
                	6.1	
                  The
                    Lease Term is hereby determined for the period commencing from
                    the date of
                    the signing of this contract and up until 31.7.2005 (hereinafter:
                    “The
                    Lease Term”).

                

        

         

        
          	
                	6.2	
                  The
                    Lessee shall not be entitled to terminate the lease under this
                    contract
                    before the end of the Lease Term. If the Lessee stops using the
                    Property
                    and/or if it vacates the Property before the end of the Lease
                    Term, such
                    shall not release the Lessee from the fulfillment of its obligations
                    under
                    this Contract, including its obligation to pay Rental Payments
                    to the
                    Contractor up until the end of the Lease Term.

                

        

         

        
          	
                	6.3	
                  At
                    the end of the Lease Term, or upon the legal cancellation of
                    this
                    Contract, the Lessee undertakes to vacate the Property and to
                    return
                    possession thereof to the Contractor with the Property being
                    clean, tidy
                    and in a fit state and free of any person and object belonging
                    to the
                    Lessee. 

                

        

         

        
          
            
            

          

          
            10

            
              

            

          

          
            
            

          

        

        The
          provisions of this section are fundamental provisions of the Contract and
          the
          breach thereof, or the breach of anyone of the provisions shall be considered
          as
          a fundamental breach of the Contract.

         

        
          	
                  7.

                	
                  Delivery
                    Date

                

        

         

        
          	
                	7.1	
                  The
                    Contract that hereby undertakes to deliver possession in the
                    Unit to the
                    Lessee immediately upon fulfillment of all the Lessee’s undertakings which
                    must be fulfilled before and up to, including, the
                    delivery.

                

        

         

        
          	
                  8.

                	
                  Completion
                    of the Property

                

        

         

        
          	
                	8.1	
                  The
                    Lessee cannot have any claims against the Contractor whatsoever
                    regarding
                    the completion of the building of the Property. The above said
                    shall not
                    reduce the Contractor’s duty pursuant to that stipulated in Section 10
                    below. 

                

        

         

        
          	
                	8.2	
                  It
                    is clarified, in order to alleviate doubt, that the works of
                    any sort
                    whatsoever in the Building or in the Project, apart from the
                    Property, can
                    continue, without any right of disturbance on the part of the
                    Lessee
                    including also after delivery of the Property to the Lessee provided
                    that
                    such does not harm reasonable use of the Lessee in the
                    Property.

                

        

         

        
          	
                  9.

                	
                  The
                    Delivery Procedure

                

        

         

        
          	
                	9.1	
                  At
                    the time of the signing of this Contract the parties shall sign
                    on the
                    protocol attached as Appendix
                    B
                    of
                    this Contract (hereinafter: “The
                    Delivery Protocol”).
                    

                

        

         

        
          	
                	9.2	
                  It
                    is expressly agreed and stipulated that any fault and/or disparity
                    in the
                    Unit at the Delivery Date which has not been detailed and expressly
                    indicated in the Delivery Protocol and which could have been
                    discovered by
                    the examination as stated by a reasonable person (who is not
                    an expert in
                    the matter), shall be seen as constituting a waiver by the Lessee
                    of any
                    claim, right and suit with respect thereof, and the Lessee shall
                    not be
                    entitled to revise thereupon and shall be estopped from claiming
                    and
                    receiving any remedy or relief whatsoever from the Contractor
                    for such.
                    

                

        

         

        
          
            
            

          

          
            11

            
              

            

          

          
            
            

          

        

        
          	
                  10.

                	
                  Maintenance
                    of the Property

                

        

         

        
          	
                	10.1	
                  Should
                    there be a disparity according to the Delivery Protocol, the
                    Contractor
                    shall act to repair such within a reasonable time (considering
                    the nature
                    of the problem and the season of the year) after the delivery.
                    

                

        

         

        Where
          any
          fault has occurred in the Property after the delivery which has not been
          caused
          as a result of an exceptional action due to unreasonable and incautious
          use on
          the part of the Lessee or as a result of an omission or negligence on the
          part
          of the Lessee and despite the cautious and reasonable use of the Lessee
          in the
          Property, the Contractor shall act to repair such within a reasonable time
          (considering the nature of the fault and the season of the year) from
          the
          date at which the Lessee has filed a written notice with it regarding the
          fault.

         

        Where
          no
          repair has been carried out as stated, the Lessee may, after filing written
          notice of its intention with the Contractor to repair the fault itself
          and may
          claim the reasonable repair costs for such from the Contractor. In such
          a case,
          the Contractor shall pay the repair costs within 14 days from receiving
          the said
          demand from the Lessee, together with a valid tax invoice. 

         

        Notwithstanding
          the above said, the Contractor shall not be obligated to repair nor to
          bear the
          cost of the repair of wear and tear fault which do not fall within the
          definition of the regular maintenance in the Lessee’s warranty, such as the
          replacement of light bulbs, cleaning and regular maintenance of the system’s
          within the Unit, etc. 

         

        Save
          for
          the undertakings of the Contractor to carry out the said repairs as stated
          in
          this Contract, no duty or liability whatsoever shall apply to the Contractor
          for
          the execution of repairs and in any event the Contractor shall not be liable
          for
          indirect damages caused to the Lessee as a result of the disparity and/or
          as a
          result of the execution of repairs to remove such. 

         

        
          
            
            

          

          
            12

            
              

            

          

          
            
            

          

        

        
          	
                	10.2	
                  It
                    is agreed that the Contractor shall not be liable for the repairs
                    of
                    faults which have arisen from and/or have deteriorated due to
                    the
                    unreasonable dues and/or due to an action and/or omission of
                    the Lessee
                    and/or of a third party who is not acting on behalf of the Contractor
                    and/or if the Lessee has not acted in accordance with the warnings,
                    where
                    such have been given in writing by the Contractor, regarding
                    the special
                    properties of the Property and/or where the Lessee has not acted
                    in
                    accordance with the maintenance and use instructions for the
                    Property.

                

        

         

        
          	
                	10.3	
                  It
                    is agreed that the Contractor shall not be responsible for the
                    quality of
                    the additional work executed and/or to be executed in the Property
                    unless
                    the Contractor has provided his written consent for the execution
                    of the
                    changes regarding the Additional Work and the Additional Work
                    was carried
                    out by the Contractor.

                

        

         

        
          	
                	10.4	
                  The
                    Lessee undertakes to allow the Contractor, its workers and agents,
                    including contractors and sub-contractors on behalf of the Contractor
                    to
                    examine the faults, to carry out the repairs in the Property
                    and/or other
                    properties in the Building, and also to enter into the Property
                    for the
                    purpose of the installation and/or transfer of equipment to the
                    holders of
                    other properties in the Building. The Lessee hereby waives any
                    claim
                    and/or demand which it might have in connection with the time
                    for the
                    execution of the aforementioned actions or in connection with
                    the
                    inconvenience, if any has been caused to it as a result of such,
                    even if
                    such relates to another property in the Building and the execution
                    thereof
                    is done, fully or partially, from the Property or in the external
                    walls of
                    the Property, and provided that the Contractor has executed the
                    above work
                    at reasonable times after prior coordination with the Lessee
                    and without
                    such harming the Lessee’s reasonable use of the Property and/or the
                    Lessee’s use of the equipment in the Property and the Contractor shall
                    act
                    to the best of its ability in order to limit the inconvenience
                    which might
                    be caused to the Lessee due to the execution of the above said
                    actions.

                

        

         

        
          
            
            

          

          
            13

            
              

            

          

          
            
            

          

        

        
          	
                	10.5	
                  The
                    Lessee shall not be entitled to rely on a disparity, if any,
                    if he has not
                    provided the Contractor with a fair opportunity to examine and
                    repair
                    such. Similarly, if the Lessee does not allow the execution of
                    the
                    repairs, such shall be considered as an absolute waiver on the
                    part of the
                    Lessee for the execution of the repairs and of any other legal
                    measure
                    regarding the disparity.

                

        

         

        
          	
                	10.6	
                  The
                    Lessee undertakes to repair, upon first demand of the Contractor,
                    any
                    breakdown or damage caused to the Property as a result of an
                    action of the
                    Lessee which exceeds the reasonable and cautious use on the Lessee’s
                    behalf or an illegal omission on the Lessee’s part (including for that
                    stipulated in subsection 10.2) but excluding as a result of wear
                    and tear
                    which is not due to reasonable use. Where no such claim has been
                    made,
                    then such repairs shall be carried out within a reasonable time
                    before the
                    vacating date in such a manner so that the repair is completed
                    by no later
                    than 7 days before the vacating date. If the repair is of the
                    sort of
                    repairs which must be executed urgently, then such shall be done
                    by the
                    Lessee immediately. 

                

        

         

        Where
          the
          said repair has not been executed, the Contractor and/or anyone on its
          behalf
          may carry out the repair at the Lessee’s expense, without harming any other
          measure which the Contractor may request in such a case, in addition to
          the
          Repair expenses. 

         

        
          	
                	10.7.	
                  The
                    Lessee undertakes, throughout the Lease Term, to comply with
                    all
                    provisions of any Law relating to the management of the business
                    in the
                    Property, not to hold any equipment, material or object in the
                    Property or
                    its surroundings which is likely to cause any damage whatsoever
                    and/or
                    which may be of tangible danger as well as to fulfill the provisions
                    of
                    any Law of any competent authority connected with the fire extinguishing
                    arrangements and procedures, as well as those of the Home Front
                    Command,
                    safety and security procedures as well as hygiene
                    procedures.

                

        

         

        
          
            
            

          

          
            14

            
              

            

          

          
            
            

          

        

        
          	
                	10.8.	
                  The
                    Lessee shall manage its business and shall make use of the Property
                    without disturbing the other tenants in the
                    Project.

                

        

         

        
          	
                	10.9.	
                  The
                    Lessee undertakes to refrain from acting (or allowing others
                    to act) in
                    the Property by committing or omitting to commit anything which
                    might
                    impose any liability whatsoever on the Contractor for damages
                    towards a
                    person and/or property.

                

        

         

        
          	
                	10.10.	
                  The
                    Contractor and his proxies shall have the right, at reasonable
                    times, to
                    enter into the Property in order to ascertain that the Lessee
                    is
                    fulfilling its obligations pursuant to the terms and conditions
                    of the
                    Contract and/or in order to present the Property before potential
                    tenants
                    or buyers and/or in order to undertake those actions and those
                    means as
                    determined in this Contract or under any other Law and which
                    require the
                    said entry into the Property. 

                

        

         

        The
          entering into the Property shall be done after prior coordination with
          the
          Lessee and the Lessee undertakes not to prevent the Contractor, or those
          acting
          on behalf of the Contractor, to have the free access as stated, provided
          that
          the above said shall not prevent the Lessee’s reasonable use of the Property.

         

        
          	
                	10.11.	
                  In
                    the matter of the room which is marked as a server room, it is
                    expressly
                    and explicitly clarified that it includes a communications cabinet,
                    a
                    communications equipment and an air conditioner, and it is intended
                    to
                    also partially serve other tenants in the neighboring properties
                    (however
                    the terminal points in those areas are routed through the aforementioned
                    communications equipment), and the Lessee agrees to allow them
                    to have
                    access to the server room and shall be reasonably required by
                    them subject
                    to prior coordination with the Lessee. In consideration, the
                    Lessee may
                    make use of the air conditioner and the communications cabinet
                    as required
                    by it without damaging that which exists.

                

        

         

        
          
            
            

          

          
            15

            
              

            

          

          
            
            

          

        

        Notwithstanding
          the above said, if the granting of the access to the neighbor will cause
          nuisance to the Lessee, the Lessee may cause the cessation of the common
          said
          use of the server room provided that enables those parties holding the
          neighboring properties, if and where such is dependant upon it, to re-route
          the
          communication lines, to remove the communications cabinet and the communications
          equipment and the said air conditioner and all this shall be done by the
          providing of written notice of at least 30 days in advance. 

         

        
          	
                	10.12.	
                  In
                    the matter of the area in the unit marked in the plans as the
                    accompanying
                    area (in green) it is expressly agreed that the Lessee shall
                    be entitled
                    to detract it from the Unit area by filing a written notice of
                    at least 30
                    days in advance. In such a case, the sum of NIS 220 plus VAT
                    shall be
                    deducted from the Monthly Rental starting from that said deduction
                    date,
                    where such amount is linked to the index from the singing date
                    of the
                    Contract. 

                

        

         

        The
          Lessee shall allow the Contractor to carry out the required actions on
          a
          reasonable basis without the deduction of the said accompanying area.

         

        
          	
                  11.

                	
                  Insurance
                    

                

        

         

        
          	
                	11.1.	
                  The
                    Lessee undertakes to act in accordance with the provisions of
                    the
                    Insurance Appendix - Appendix
                    C
                    -
                    of this Contract and to provide a required certificate thereunder
                    by the
                    Delivery of Possession Date.

                

        

         

        
          	
                  12.

                	
                  The
                    Management Agreement

                

        

         

        
          	
                	12.1.	
                  The
                    Lessee undertakes to sign, at the time of the signing of this
                    Contract or
                    at any other time to be determined by the Contractor at the exclusive
                    discretion of the Contractor, on a Management Agreement, in a
                    wording
                    according to the principles of the contract attached to this
                    Contract as
                    Appendix
                    D
                    (hereinafter: “The
                    Management Agreement”)
                    with the Management Company to be appointed or to be appointed
                    by the
                    Contractor (above and below: “The
                    Management Company”)
                    whose role it shall be to see to the regular maintenance (including
                    the
                    execution of improvements and renovations) to the common property,
                    and the
                    Building and in the Project in general, and it undertakes to
                    act in
                    accordance with the provisions of the Management
                    Contract.

                

        

         

        
          
            
            

          

          
            16

            
              

            

          

          
            
            

          

        

        
          	
                	12.2.	
                  The
                    Lessee also undertakes towards the Contractor to comply with
                    the
                    provisions of the Management Contract. The breach of the Management
                    Contract shall also constitute a breach of this Contract of Lease.
                    

                

        

         

        
          	
                	12.3.	
                  Regarding
                    the matter of Section 10.3 of the Management Contract, it is
                    expressly
                    agreed that if the Lessee is required by the Management Company
                    to provide
                    the deposit as defined in the Management Contract, the Contractor
                    shall
                    act to cancel the requirement on the part of the Management Company
                    or to
                    fulfill it instead of the Lessee. 

                

        

         

        
          	
                  13.

                	
                  Rental
                    Payment 

                

        

         

        
          	
                	13.1.	
                  The
                    monthly Rental Payments for the Lease Term shall be in the amount
                    of NIS
                    22,922 (inclusive of VAT) linked to the index from the date of
                    the signing
                    of this Contract. 

                

        

         

        Notwithstanding
          the above said, the Rental Payments for the first seven months shall be
          in the
          amount of NIS 97,419 (inclusive of VAT) only. 

         

        
          	
                	13.2	
                  “Index”
                    -
                    For the purpose of this Contract shall mean the - the price index
                    known as
                    the consumer price index published by the Central Bureau of the
                    Statistics
                    or any other official index replacing
                    it.

                

        

         

        
          
            
            

          

          
            17

            
              

            

          

          
            
            

          

        

        “Linked
          to the index on the date of the signing of the Main
          Contract”
for
          the
          purpose of this Contact shall mean - that if on the actual date of payment
          the
          known index (hereinafter: “The
          New Index”)
          is
          higher than the index that was known at the date of signing
          of the Main Contract, (that is to say the index for the month of June 2003,
          published on the 15.7.2003; (hereinafter: “The Basic
          Index”),
          the
          amount for payment shall be increased in accordance with the same proportion
          as
          the difference between the New Index and the Basic Index.

         

        
          	
                	13.3	
                  The
                    Monthly Rental Payments shall be paid in advance, at the following
                    dates:

                

        

         

        
          	
                	13.3.1	
                  At
                    the time of the signing of this Contract, the Monthly Rental
                    shall be paid
                    for the Lease Term up until
                    28.02.2004.

                

        

         

        
          	
                	13.3.2	
                  For
                    the balance of the Lease Term (i.e. commencing from 1.3.2004)
                    Rental
                    Payments shall be paid every two months in advance on the first
                    of the
                    following months: March, May, July, September, November, and
                    January -
                    accordingly, however the last payment shall be for the period
                    from the
                    above said payment date and up until the end of the Lease Term.
                    

                

        

         

        
          	
                	13.4	
                  In
                    order to ease the collection of the Additional Rental Payments,
                    the Lessee
                    shall deliver to the Contractor, cheques on account of the future
                    Additional Rental Payments up until the end of the Lease Term.
                    The said
                    cheques shall stipulate the set payment dates as stated in sub
                    section of
                    13.3 above. Once every quarter, or for a lengthier period, at
                    the election
                    of the Contractor, an account shall be made of the difference
                    for the
                    Rental Payments arising from changes to the Consumer Price Index
                    from
                    between the delivery date of the cheques as stated above and
                    the payment
                    date and the said differences shall be paid to the Contractor
                    within seven
                    days of the Contractor’s demand. In order to alleviate doubt it is hereby
                    clarified that the Contractor shall be entitled to present the
                    cheques
                    mentioned at the heading of this sub section for payment by the
                    due dates,
                    however only payment of the cheques and the Rental Payment differences
                    plus VAT, where required, as stipulated in this Contract, shall
                    be
                    considered as full payment of the Rental Payments.
                    

                

        

         

        
          
            
            

          

          
            18

            
              

            

          

          
            
            

          

        

        
          	
                	13.5	
                  It
                    is hereby agreed that until another instruction is given by the
                    Contractor, every payment under this Contract shall be made in
                    tow equal
                    parts:- One - in favour of Rorberg Contracting and Investments
                    (1963) Ltd.
                    Into account No. 20767 at Bank Hapoalim Ltd., branch 609 and
                    the second in
                    favour of Tazor Development Ltd. Into account 13736 at Bank Hapoalim
                    Ltd.,
                    branch 609.

                

        

         

        
          	
                	13.6	
                  The
                    Rental Payments stipulated above include VAT at the rate of 18%.
                    It is
                    expressly agreed that if a change occurs to the VAT rate, the
                    Rental
                    Payments shall be updated and paid in accordance with the altered
                    VAT
                    rate. 

                

        

         

        The
          provisions of this section are fundamental provisions of the Contract and
          the
          breach thereof or the breach of any one of these provisions shall be considered
          as a fundamental breach, however a delay in payment of the Rental Payments
          which
          does not exceed seven days shall not be considered as a fundamental breach.
          

         

        
          	14.	
                  Taxes,
                    Fees, Expenses and Miscellaneous Payments
                    

                

        

         

        
          	
                	14.1	
                  In
                    addition to the payment of Rental Payments and the other payments
                    applicable to the Lessee under this Contract, the Lessee undertakes
                    to pay
                    the taxes, expenses and payments as
                    follows:

                

        

         

        
          	
                	14.1.1.	
                  All
                    taxes, municipal rates and taxes, other obligatory payments and
                    expenses
                    applicable to the Property for the use and possession thereof
                    including
                    management fees, electricity, water, telephone payments, municipal
                    rates
                    and taxes, property improvement levies for exceptional use, if
                    and where
                    required, business taxes, etc. 

                

        

         

        
          
            
            

          

          
            19

            
              

            

          

          
            
            

          

        

        The
          Lessee hereby confirms that it is aware that the water and electricity
          connection to the Unit is shared with the adjacent area. It is agreed that
          until
          the installation of separate meters for the above mentioned properties,
          the
          water and electricity costs shall be divided up in accordance with the
          shared
          meters between the holders of the above mentioned properties in such a
          manner so
          that each holder of possession shall pay its relative fare in the account
          in
          accordance with its relative share of the overall total area of the above
          mentioned properties. 

         

        If
          and
          when the Contractor and/or someone on its behalf installs separate meters
          for
          the above mentioned properties, the Lessee undertakes to cooperate in order
          to
          advance the matter and to allow the execution of any action required in
          order to
          install such in the Property. 

         

        
          	
                	14.1.2.	
                  Revenue
                    stamp duty for this Contract and the agreements and documents
                    signed
                    pursuant to this Contract, if and should such apply.
                    

                

        

         

        
          	
                	14.2.	
                  All
                    other compulsory payments and/or applicable taxes and/or taxes
                    to be
                    applied in the future and which apply to and/or shall apply,
                    in Law, or by
                    the nature thereof, to the owners shall be paid by the Contractor
                    whilst
                    those which apply and/or shall apply, in Law, or by the nature,
                    to the
                    holders of possession, shall be paid by the
                    Lessee.

                

        

         

        
          	
                	14.3.	
                  The
                    payments indicated in this Section above, where no payment date
                    has been
                    stipulated, shall be paid to the Contractor within seven days
                    from the
                    demand date, to the competent authority, immediately upon first
                    demand
                    from that authority and/or at the date as determined under any
                    Law; and to
                    any other entity - at the time as demanded by it and/or by the
                    Contractor
                    and/or pursuant to that agreed upon between them.
                    

                

        

         

        
          
            
            

          

          
            20

            
              

            

          

          
            
            

          

        

        The
          Lessee shall provide the Contractor, at the payment dates of the Rental
          Payments, with copies of the receipts testifying to the execution of the
          above
          said payments. 

         

        The
          parties agree that the Contractor may, but is not obligated, to make the
          payments, fully or partially, instead of the Lessee, and that in such case,
          the
          Lessee shall refund the full payments to the Contractor which were paid
          in the
          stead of the Lessee (including VAT), immediately upon first demand, where
          such
          bear linkage differences to the Index, from the actual payment date by
          the
          Contractor and up until the demand date. The Contractor shall not make
          use of
          this right unless it has previously addressed the Lessee in order for the
          Lessee
          to pay such payments itself and only if the Lessee has not done so itself.
          

         

        
          	
                  15.

                	
                  Breaches
                    and Remedies

                

        

         

        
          	
                	15.1.	
                  Nor
                    do they derogate from any right, cause, remedy or measure available
                    to the
                    injured party due to the breach in
                    Law.

                

        

         

        
          	
                	15.2.	
                  If
                    the Lessee breaches, does not fulfill or is late in fulfilling
                    any of the
                    terms and conditions of this Contract constituting the fundamental
                    conditions of this Contract, the Contractor may demand the immediate
                    vacating of the Property and also to collect compensation for
                    damages
                    sustained by the Contractor as a result of the breach.
                    

                

        

         

        In
          the
          event of a breach of any other condition of this Contract, the Contractor
          shall
          be entitled, in addition to any other right vested in it in Law, to revoke
          the
          Contract and to demand the vacating of the Property after having given
          the
          Lessee warning of 30 days to amend and the Lessee has not complied with
          the
          warning and amended the breach. 

         

        
          
            
            

          

          
            21

            
              

            

          

          
            
            

          

        

        That
          stated in this section shall not prejudice any other relief available to
          the
          Contractor pursuant to the provisions of any Law or this Contract. 

         

        
          	
                	15.3.	
                  Where
                    the Lease Term has ended, or in any event of the cancellation
                    of this
                    Contract in Law, due to the breach thereof by the Lessee and
                    where the
                    Lessee has not vacated and/or delivered possession of the Property
                    to the
                    Contractor, free of any person and pursuant to the terms and
                    conditions of
                    this Contract, then the Lessee shall pay to the Contractor for
                    each month
                    of arrears in the said vacating, arrears payments at the rate
                    of twice
                    that of the Rental Payments. 

                

        

         

        The
          parties hereby declare that the compensation amount stipulated above is
          based on
          a good faith evaluated estimation of the parties regarding the anticipated
          damage to the Contractor during the ordinary course of affairs as a result
          of
          the delay in returning possession by the due date and such shall not prejudice
          any other or additional relief to which the Contractor is available in
          Law or
          pursuant to the provisions of this Contract. 

         

        It
          is
          hereby agreed that the above said shall not release the Lessee from its
          undertakings to vacate the Property at the end of the Lease Term and/or
          to grant
          any right to the Lessee to further hold the Property against the payment
          of the
          agreed compensation and/or in order to constitute a waiver on the part
          of the
          Contractor on any of the Contractor’s rights and/or to prejudice a right of the
          Contractor to receive any additional remedy and relief including the eviction
          of
          the Lessee from the Property. 

         

        
          	
                	15.4	
                  Should
                    any disparities be discovered in the Property and the Contractor
                    has done
                    nothing to amend such, under the circumstances where under the
                    provisions
                    of that stipulated in this Contract, such constitutes a breach
                    on the part
                    of the Contractor, then the Lessee shall be entitled to the remedy
                    of
                    enforcement, i.e. - the repairing of the disparity, including
                    by those
                    means as stipulated in subsection 10.1 above, and in any event
                    it is
                    agreed that the Lessee shall not be entitled to a setoff of its
                    damages
                    for the faults and/or for the cost of the repair, from the Rental
                    Payments
                    which the Lessee must make towards the Contractor, unless the
                    Lessee has
                    received the prior written consent of the Contractor for
                    such.

                

        

         

        
          
            
            

          

          
            22

            
              

            

          

          
            
            

          

        

        
          	
                	15.5	
                  Any
                    amount which the Lessee owes and which the Lessee has not paid
                    by the due
                    date or within 7 days thereafter, shall bear linkage differences
                    to the
                    Index and linked interest during the arrears period at the rate
                    of 4% per
                    annum or arrears interest at a rate customary at Bank Hapoalim
                    Ltd. for
                    approved overdraft facilities in current accounts (for an ordinary
                    and not
                    preferred customer) plus 4% per annum at the election of the
                    Contractor
                    without prejudicing any other remedy available to the Contractor
                    pursuant
                    to the this Contract or under any Law.

                

        

         

        It
          is
          hereby clarified that with respect of any payment for a debt which has
          been paid
          by the Lessee to the Contractor in connection with this Contract, such
          shall be
          credited to the Lessee commencing with the expenses and afterwards the
          interest,
          linkage differences and agreed compensation (liquidated damages) and the
          balance
          shall be credited on account of the principal. If any balance remains of
          the
          principal, this shall also bear linkage and interest differences accordingly and
          the provisions of this section shall also apply with respect of the making
          of
          these payments and so on and so forth. 

         

        The
          provisions of this subsection shall apply, mutandis,
          to
          the
          amount which the Contractor must pay pursuant to this Contract to the Lessee
          and
          which it has not paid within seven days from the date of being demanded
          to do so
          by the Lessee. 

         

        
          	
                	15.6	
                  Where
                    the Lessee has been late in fulfilling one or more of its obligations
                    under this Contract, fully or partially, such shall permit the
                    Contractor
                    to delay on a parallel basis the fulfillment of its obligations
                    towards
                    the Lessee and such a delay on the part of the Contractor shall
                    not
                    constitute a breach and shall not entitle the Lessee to any remedy
                    whatsoever.

                

        

         

        
          
            
            

          

          
            23

            
              

            

          

          
            
            

          

        

        
          	
                	15.7	
                  If
                    the Lessee has not paid one or more of the payments applicable
                    to it under
                    this Contract, fully and/or partially and/or by the due dates,
                    such shall
                    be considered as a fundamental breach of the Contract.
                    

                

        

         

        
          	
                  16.

                	
                  Guarantees

                

        

         

        
          	
                	16.1	
                  In
                    order to secure and guarantee the fulfillment of the Lessee’s undertakings
                    under this Contract and to guarantee all the expenses, losses
                    and damages
                    applicable in the case of a bridge of the Contract by the Lessee,
                    it is
                    agreed that:

                

        

         

        
          	
                	16.1.1	
                  The
                    Lessee within seven days of the signing of this Contract and
                    as a
                    precondition for receiving the keys to the Leased Premises the
                    Lessee will
                    provide an autonomous bank guarantee to the Contractor in favor
                    of Rorberg
                    Contracting and Investments (1963) Limited, in an amount of NIS
                    46,000
                    linked to the consumer price index starting from the date of
                    the signing
                    of this Contract and redeemable upon demand in accordance with
                    the wording
                    as attached to this Contract in Appendix
                    E.

                

        

         

        The
          guarantee shall be valid until 31.12.2004 and shall be extended from time
          to
          time in such a manner so that the extension of the validity thereof and
          the
          delivery of the valid extension to the guarantee to the Contractor shall
          be by
          no later than 30 days before the last exercise date for the present guarantee
          and that the validity of the overall guarantee shall be for up to 60 days
          after
          the end of the Lease Term. Where the guarantee has not been extended as
          stated,
          such shall be considered as a breach of the contract with all that such
          implies.

         

        
          	
                	16.1.2	
                  A
                    promissory note in the amount of NIS 250,000, linked to the consumer
                    price
                    index at the date of the signing of this contract, signed by
                    the
                    Lessee.

                

        

         

        
          
            
            

          

          
            24

            
              

            

          

          
            
            

          

        

        The
          note
          shall be made out to the deposit of the Contractor and shall be delivered
          without a redemption date.

         

        If
          the
          Lessee does not comply with its undertakings and/or obligations and/or
          any part
          thereof under this Contract, the Lessee shall by gives an irrevocable
          instruction to the Contractor to fill in the redemption date in the note
          at its
          exclusive discretion and to collect its full damages from the exercise
          amount as
          well as any amount owing to the Contractor by the Lessee under any law
          and the
          balance, if any, shall be refunded to the Lessee and/or pursuant to the
          provisions of subsection 16.3 below. The said note shall be redeemable
          upon
          demand and the Contractor may collect it or demand its redemption, at its
          choice, but shall not be entitled to negotiate it.

         

        
          	
                	16.2	
                  It
                    is explicitly agreed between the parties that the exercising
                    and/or
                    redemption of the note and/or its submission for execution at
                    the
                    execution office or its submission in a claim thereunder and/or
                    the
                    exercising of the bank guarantee shall not prejudice the Contractor’s
                    right to claim and to receive any other additional alternative
                    relief of
                    any sort whatsoever against the Lessee, for the collection of
                    those
                    amounts in excess of the amount to be realized as
                    stated.

                

        

         

        
          	
                	16.3	
                  The
                    Contractor undertakes to give the Lessee a written extension
                    of 14 days at
                    least in order to amend the breach for which it intends to exercise
                    the
                    guarantees under this section before it does so and if the breach
                    has been
                    amended within the above said extension, the Contractor shall
                    not be
                    entitled to realize such, however, the above said shall not diminish
                    in
                    any manner whatsoever the power of the Contractor to exercise
                    guarantees
                    in accordance with law. 

                

        

         

        
          	
                  17.

                	
                  Transfer
                    of Rights 

                

        

         

        
          	
                	17.1	
                  The
                    Contractor may transfer its rights and/or obligations under this
                    Contract,
                    fully or partially, to any other legal person or party, but must
                    do so
                    subject to the maintaining of the Lessee’s rights under this
                    Contract.

                

        

         

        
          
            
            

          

          
            25

            
              

            

          

          
            
            

          

        

        
          	
                	17.2	
                  The
                    Contractor hereby declares that it has contracted with Bank Hapoalim
                    Limited in a credit agreement for the financing of the construction
                    of
                    Building (Hereinafter: “The
                    Financing Agreement”)
                    and that it undertakes or is likely to undertake to provide various
                    guarantees in favor of the bank including, inter
                    alia,
                    a
                    pledge on all receipts owing to it from the Lessee (Hereinafter:
                    “The
                    Pledge of the Rental Payments).
                    The parties therefore agree and confirm
                    that:

                

        

         

        
          	
                	17.2.1	
                  They
                    are aware of the possibility of the existence of a pledge on
                    the Rental
                    Payments and the assignment of these Rental Payments by pledged
                    to the
                    bank.

                

        

         

        
          
            	
                  	17.2.2.	
                    The
                      Contractor shall be entitled to give an instruction to the
                      Lessee and/or
                      an irrevocable instruction/instructions to the Lessee to pay
                      the Rental
                      Payments to the credit of a bank account/accounts (Hereinafter:
                      “The
                      Special Instructions”)
                      and a Lessee confirms that in such a case it shall act in accordance
                      with
                      the Specialty Instructions.

                  

          

        

         

        In
          order
          to alleviate any doubt it is hereby clarified that the payment of the Rental
          Payments in accordance with the Special Instructions shall be considered,
          for
          all intents and purposes, as payment of Rental Payments to the
          Contractor.

         

        
          	
                	17.3	
                  The
                    Lessee shall not be entitled to assign, pledge, sublease or transfer,
                    by
                    any other means, its rights and obligations under this contract,
                    fully or
                    partially, directly or indirectly, to another, unless with the
                    prior
                    written and explicit consent of the
                    Contractor.

                

        

         

        The
          above
          said shall not prejudice the provisions in Section 22 of the Lease and
          Landing
          Law, 5731 - 1971.

         

        
          
            
            

          

          
            26

            
              

            

          

          
            
            

          

        

        
          	
                  18.

                	
                  Non
                    Waiver of Rights

                

        

         

        
          	
                	18.1	
                  The
                    non exercising or delay in exercising by a party to this Contract
                    of any
                    of its rights under this Contract and/or under law, shall not
                    be
                    considered as a waiver on its part of the said
                    right.

                

        

         

        
          	
                	18.2	
                  A
                    waiver, discount, change or extension given by a party to this
                    Contract,
                    under certain circumstance, shall not serve as a precedent in
                    another
                    case, and in any event, all the said actions shall be invalid
                    unless so
                    done in writing.

                

        

         

        
          	
                  19.

                	
                  The
                    Inclusiveness of the Contract and its
                    Validity

                

        

         

        
          	
                	19.1	
                  The
                    parties hereby agree that the terms and conditions of this Contract
                    reflect that which has been agreed and stipulated upon between
                    the
                    parties.

                

        

         

        The
          Contractor shall not be bound by any promise, advertisement, presentations,
          agreements and undertakings, verbal or written, made prior to the signing
          of
          this Agreement.

         

        
          	
                	19.2	
                  Any
                    change to this Contract must be done in writing and signed by
                    the parties.
                    An verbal declaration, presentation or promise, made in the future or by
                    any person, including employees of the Contractor or its agents,
                    in any
                    matter relating to this Contract, shall not find the
                    Contractor.

                

        

         

        
          	
                	19.3	
                  Until
                    the signing by the Contractor, through its authorized signatories,
                    on this
                    Contract, the terms and conditions hereof shall not bind the
                    Contractor
                    and the signature of the Lessee alone on this Contractor shall
                    not vest
                    any right whatsoever thereunder. The date at which the Contractor
                    signs,
                    as stated, on the Contract shall be considered as the signing
                    date of the
                    Contract. 

                

        

         

        
          	
                  20.

                	
                  Lawyers

                

        

         

        
          	
                	20.1	
                  The
                    Contractor hereby makes notice that it has appointed Advocates
                    Guy
                    Hermelekh and Barak Moshe of 10 Flaut Street in Rehovot (above
                    and below:
                    “The
                    Lawyers”)
                    to be, jointly and severely, their attorneys for all intents
                    and purposes
                    for the execution of any action requiring legal work in connection
                    with
                    this Contract.

                

        

         

        
          
            
            

          

          
            27

            
              

            

          

          
            
            

          

        

        
          	
                	20.2	
                  The
                    Lessee declares that it has been emphasized before it that the
                    Lawyers
                    represent the Contractor alone and that they do not represent
                    the Lessee
                    and that the Lessee is entitled and even recommended to appoint
                    a lawyer
                    on its behalf in order to represent it for the purposes of this
                    Contract.

                

        

         

        
          	
                  21.

                	
                  Judicial
                    Jurisdiction and Choice of
                    Law

                

        

         

        
          	
                	21.1	
                  In
                    any dispute between the parties to this Contract and in connection
                    therewith, its breach, interpretation, applicability and/or validity,
                    the
                    courts in the Tel Aviv and Central Districts shall have sole
                    judicial
                    jurisdiction.

                

        

         

        
          	
                	21.2	
                  The
                    provisions of the Israeli law shall apply to this
                    Contract.

                

        

         

        
          	
                  22.

                	
                  Notices

                

        

         

        
          	
                	22.1	
                  The
                    addresses of the party for the purpose of this Contract and in
                    connection
                    therewith are as specified in the headings of this Contract or
                    at any
                    other address in Israel to be specified in a notice to be sent
                    to the
                    other party in accordance with the provisions of this
                    clause.

                

        

         

        
          	
                	22.2	
                  Any
                    notice sent by a party to another party in accordance with the
                    above
                    address by registered mail shall be considered as having reached
                    its
                    destination three business days after having been sent by registered
                    mail.

                

        

         

        In
          Witness Whereof the Parties have Set their Hand at the above Stipulated
          Date:

        
 

        The
          Contractor (signed)

         

         

        The
          Lessee (signed)

      

       

      
        
          
          

        

        
          28

          
            

          

        

        
          
          

        

      

    

    

      Appendix
        A

      

      MANAGEMENT
        CONTRACT

      

      Made
        and
        signed in _________ on the ____ day of _________ 2003

      

      BETWEEN:

      

      RAMOT
        - MADA'IM MANAGEMENT AND MAINTENANCE LTD.

      of
        5
        Ha'Gedud Ha'Ivri Street, Tel Aviv

      (Hereinafter:
        "the
        Management Company")

      

      OF
        THE FIRST PART

      

      AND:

      

      ROSETTA
        GENOMICS LTD

      of
        10
        Plaut Street, Rehovot

      (Hereinafter:
        "The Lessee")

      

      OF
        THE SECOND PART

      

      Preamble

      

      WHEREAS:

      

      
        	
                A.

              	
                On
                  the __day of _____ a Lease Contract (hereinafter: "the
                  Lease Contract")
                  was signed between Rorberg Contractors and Investments (1963) Ltd.
                  and
                  Tazauer Development Ltd (hereinafter: "the
                  developer" or
                  :the
                  property owner"),
                  of the first part and the Lessee of the second part under which
                  the Lessee
                  took a lease of the property (as the same is defined in the Lease
                  Contract) and which forms part of the building and the project
                  called
                  "Mada'im 1" and which was erected by it on the plot known as Plot
                  1009
                  under Scheme RH/2005/A situated in the Rabin T.M.R. Park in Rehovot
                  (hereinafter: "The
                  Building" or
                  "The
                  Project");

                 

              
	
                B.

              	
                The
                  Project includes common areas and facilities that are intended
                  for common
                  use of all property owners in the project or some of them and/or
                  occupiers
                  of the properties, at the initiative of the property owners in
                  the project
                  and/or are to be designated by the developer as common
                  property;

              
	
                C

              	
                In
                  order to facilitate the preservation of a high standard of maintenance
                  of
                  the building it is necessary that the services to be common property
                  are
                  managed and provided in an organized
                  manner;

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
                D

              	
                The
                  Lessee is aware that the property owner has agreed that management
                  of the
                  said services shall be performed exclusively by the Management
                  Company and
                  the Lessee undertakes to fulfill all the obligations required of
                  it in
                  connection with the provision of the management services by the
                  management
                  company, and all in accordance with and subject to the provisions
                  of this
                  Contract;

                 

              
	
                E

              	
                This
                  Contract is intended to govern the mutual obligations between the
                  parties
                  in all matters pertaining to management and performance of the
                  services in
                  the building and constitutes the Management Contract referred to
                  in the
                  Lease Contract; 

              

      

      

      IT
        HAS THEREFORE BEEN AGREED, DECLARED AND STIPULATED BETWEEN THE PARTIES AS
        FOLLOWS:

      

      
        	1.	
                Treatment
                  of the Preamble and the Title
                  Headings

              

      

      

      
        	
              	1.1	
                The
                  preamble to this Contract and the declarations contained therein
                  constitute an integral part
                  thereof.

              

      

       

      
        	
              	1.2	
                The
                  Title Headings in this Contract have been inserted for convenience
                  of
                  reading and familiarization, and they shall not be used in its
                  interpretation.

              

      

       

      
        	2.	
                Definitions

              

      

      

      In
        this
        Contract the terms and expressions that have been defined in the Lease Contract
        shall have the same meanings that have been assigned to them in the Lease
        Contract, and the following terms and expressions shall have the meanings
        as
        defined alongside them, and all other than where the context in this Contract
        otherwise requires;

      

      
        	 	
                "The
                  Building"-

              	
                As
                  defined in Part B of the preamble to this Contract 

              
	 	
                "The
                  Expenses"-

              	
                As
                  they are defined in Section 10.1 of this Contract

              
	 	
                "The
                  Annual Account"-

              	
                As
                  defined in Section 10.5 of this Contract

              
	 	
                "The
                  Installations"-

              	
                The
                  installations as they are defined hereunder in this
                  Section.

              
	 	
                "The
                  Deposit"-

              	
                As
                  defined in Section 10.5 of this Contract

              
	 	
                "The
                  Common Property"

              	
                All
                  parts of the building that are intended for the use in common of
                  all the
                  property owners in the Project or some of them and/or those occupying
                  properties on behalf of the said owners and/or are designated as
                  common
                  property by the developer, including, and without derogating from
                  the
                  generality of the foregoing, external walls, roofs, basements,
                  shelters,
                  garbage rooms, stairwells, passageways, piazzas, parking lots,
                  entrances,
                  elevators, toilets and restrooms; as well as common installations,
                  such as
                  air conditioning, heating, electrical and plumbing installations,
                  any kind
                  of piping, general signboards, other installations that serve or
                  are
                  intended to serve some or all of the property owners in the project
                  even
                  if they are situated within the boundaries of units that are in
                  the
                  ownership of and/or are for the exclusive use of one of the property
                  owners in the project, and any other installation in respect of
                  which the
                  Management Company agrees to provide services (hereinafter: "the
                  installations").

                 

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                "The
                  Services" -

              	
                As
                  they are defined in Section 3 of this Contract

              
	 	
                "The
                  Special Fee" -

              	
                As
                  defined in Section 10.3 of this Contract

              
	 	
                "The
                  Lease Contract"-

              	
                As
                  defined in Part A of the preamble to this Contract

              
	 	
                "Equipment
                  Renewal Fund"-

              	
                As
                  defined in Section 10.2 of this
                  Contract

              

      

      

      
        	3.	
                The
                  Services

              

      

      

      
        	
              	3.1	
                In
                  this Contract the expression "services" shall be taken to mean
                  as
                  including servicing and maintenance works, including day to day
                  operation,
                  repairs, cleaning, lighting, gardening, renewals, examination,
                  insurance
                  and upkeep of the common property and the
                  installations.

              

      

      

      
        	
              	3.2	
                The
                  Management Company shall from time to time be entitled to determine
                  the
                  scope of the services, their type, nature and time and manner of
                  their
                  provision, all having regard to the nature and standard of the
                  building
                  and the requirements of a majority of the property owners (as per
                  the
                  areas of the units) in the
                  building.

              

      

       

      It
        is
        agreed that for as long as no decision has been made as to an increase in
        the
        basket of services by the majority of the property owners (as per the areas
        of
        the units) in the building then the scope of the services shall include the
        basket of services that is specified in Appendix 1 to this
        Contract.

      

      
        	
              	3.3	
                The
                  Management Company may also include within the bounds of the services
                  included in this Contract, services that are intended to serve
                  particular
                  properties only in the project, (hereinafter: "the
                  special services").
                  In the event of provision of special services the Management Company
                  shall
                  proceed in accordance with Section 10.5.2 with regard to division
                  of cost
                  of contribution to such expenses.

              

      

      

      
        	
              	3.4	
                Subject
                  to what is stated hereunder the Management Company shall also deal
                  with
                  the renewal of the various installations, renovations, and replacements
                  in
                  the common property (to the extent that it is necessary) and with
                  management of the equipment renewal fund in the project as provided
                  hereunder in Section 10.2

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
              	3.5	
                As
                  a precondition for entering into this Contract with the Management
                  Company, and without derogating from any other exemption in the
                  Contract,
                  the Lessee agrees that it will be estopped from claiming any compensation
                  or other relief for loss, damage or deficiency as a result of a
                  fault
                  and/or default and/or cessation and/or delay in supplying any of
                  the
                  services, unless it is proved that such fault and/or defect and/or
                  cessation and/or delay in supplying any of the services was caused
                  directly and solely as a result of a negligent act or omission
                  of the
                  Management Company.

              

      

      

      
        	
              	3.6	
                For
                  the avoidance of doubt, although the Management Company might well
                  be
                  charged with ensuring the supply of guard services to the building,
                  the
                  Management Company shall not be deemed to be a bailee of the building
                  and/or the unit and/or any part thereof and/or their contents,
                  as this
                  term is defined in the Bailee's Law 5727-1967. The Lessee shall
                  bear
                  exclusive liability for the safekeeping of its property and the
                  said law
                  shall not apply to the relationship between the Management Company
                  and the
                  Lessee. 

              

      

       

      
        	4.	
                The
                  Contract

              

      

      

      
        	
              	4.1	
                The
                  property owner hereby assigns to the Management Company and the
                  Management
                  Company accepts responsibility for management of the services to
                  the
                  project and the Lessee agrees to the Management Company performing
                  the
                  aforesaid management services in this Contract commencing from
                  the date of
                  completion of the building.

              

      

      

      
        	
              	4.2	
                The
                  Management Company will be entitled to bring forward and deal with
                  the
                  management and performance of the services if in its opinion this
                  will
                  bring about an improvement in provision of the services and/or
                  an
                  improvement in the preparedness in the deployment of the Management
                  Company in maintaining them, and including the provision of consulting
                  services as regards the choice of installations, the examination
                  thereof
                  prior to their installation and/or when being installed and the
                  preparatory work in assimilating
                  them.

              

      

      

      
        	
              	4.3	
                Notwithstanding
                  the provisions in this Contract the Management Company will be
                  entitled to
                  postpone the date for performing various services, wholly or partially,
                  if
                  in view of the situation of the works in the project or taking
                  into
                  account the actual number of purchasers and tenants of the properties
                  in
                  the project and/or in light of other considerations, it is in its
                  opinion
                  justifiable to postpone the date of performance of the services
                  or any
                  part thereof.

              

      

      

      
        	5.	
                Contracts
                  with Sub-Contractors, Employees and
                  Others

              

      

      

      
        	
              	5.1	
                The
                  Management Company may from time to time contract with Contractors
                  and/or
                  sub-contractors including with another Management Company or Management
                  Companies regarding provision of some of the services and/or all
                  of the
                  services for which the Management Company has accepted responsibility
                  under this Contract, whether such a contract is with regard to
                  certain
                  parts of the contract and/or with regard to all or some of the
                  installations and systems and/or with regard to all and/or some
                  of the
                  services.

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
              	5.2	
                The
                  Management Company may engage and/or contract in any way it sees
                  fit on a
                  fulltime or part time contract of employment, any person or body
                  including
                  technical professional and administrative employees, clerks, experts,
                  lawyers, advisors, laborers and professional tradesmen including
                  guards.

              

      

      

      
        	
              	5.3	
                In
                  order to perform the actions and services for which the Management
                  Company
                  has accepted responsibility under this Contract, the Management
                  Company
                  may lease and occupy an office and/or offices as well as rooms
                  and
                  storerooms as necessary, including all such equipment as is required
                  for
                  maintaining and operating such offices and
                  storerooms,

              

      

       

      The
        Management Company may use such offices and areas as are placed at its disposal
        by the developer and on such terms and conditions as are agreed between the
        Management Company and the Developer.

      

      
        	
              	5.4	
                In
                  the event of the Management Company being engaged in providing
                  special
                  services, this shall be done in so far as is possible by the use
                  of the
                  same offices, manpower and equipment as are also used for the purpose
                  of
                  fulfilling all the functions of the Management Company, the intention
                  being to effect a saving in the Management Company's expenses as
                  far as is
                  possible.

              

      

      

      
        	
              	5.5	
                The
                  powers of the Management Company under this Contract shall in so
                  far as is
                  necessary be conferred on Bezeq and/or a private communications
                  company
                  and/or the Electricity Corporation and/or other bodies of a like
                  nature in
                  all matters pertaining to the servicing of the transformer room/s
                  and the
                  electricity, communications cables etc, as well as in assuring
                  other
                  rights of such bodies.

              

      

      

      
        	6.	
                The
                  Management Company's Authority with Regard to the Common
                  Property

              

      

      

      The
        Management Company has accepted the assignment of managing the common property,
        and it agrees to do on behalf of and in place of the Lessee any act for which
        the Lessee is liable in connection with the common property, either by law
        or
        under this Contract or under the Lease Contract.

      

      
        	7.	
                Procedures

              

      

      

      
        	
              	7.1	
                The
                  Management Company is authorized to prescribe from time to time,
                  such
                  procedures and regulations as it sees fit in relation to the use
                  of the
                  common property and in connection with performance of the services,
                  provided that such procedures and regulations shall not conflict
                  with the
                  provisions of this Contract and shall not be prejudicial to the
                  reasonable
                  use by the Lessee of the property and of the common
                  property.

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
              	7.2	
                The
                  Management Company may from time to time prescribe such rules of
                  behavior
                  as shall be binding on all owners and/or occupiers of the properties
                  in
                  the project this so as to preserve the standard of the project
                  and to
                  prevent disturbance and annoyance to occupiers in the properties,
                  the
                  common property and the installations in the
                  project.

              

      

      

      
        	
              	7.3	
                The
                  Management Company may from time to time designate areas that are
                  part of
                  the common property, places for use as pathways, passageways, parking
                  lots, places for the installation of aerials, fuel and gas tanks,
                  plumbing, cables, garbage facilities and other installations, whether
                  these serve all the properties in the project or serve only parts
                  of the
                  project.

              

      

      

      
        	
              	7.4	
                Without
                  prejudice to the foregoing, the Management Company may from time
                  to time
                  introduce inter
                  alia: 

              

      

      

      
        	
              	7.4.1	
                Regulations
                  that prohibit the installation or placement outside the property
                  of any
                  installations and objects.

              

      

      

      
        	
              	7.4.2	
                Regulations
                  regarding noise limitation and/or the creation of other nuisances
                  in the
                  project.

              

      

      

      
        	
              	7.4.3	
                Regulations
                  as to the means of use of the open and adjacent areas and behavior
                  therein.

              

      

      

      
        	
              	7.4.4	
                Regulations
                  as to signboards and the fixing of signboards, notices and other
                  marks on
                  the building, its walls, roof, as well as on parts of the property
                  that
                  are visible from outside the property and including the doors and
                  windows.

              

      

      

      
        	
              	7.4.5	
                The
                  Lessee shall not make any changes in the property which could affect
                  the
                  external walls or external front or the windows or terraces of
                  the
                  property and/or on the common property, including changes that
                  harm or
                  that are likely to harm or endanger the common property and/or
                  the
                  building and/or the project or any of the parts and/or units thereof,
                  unless it has obtained the consent of the developer and Management
                  Company
                  thereto.

              

      

       

      It
        is
        agreed in any event that the consent of the Management Company to effecting
        such
        changes is conditional on the Lessee producing to it the consent of the owner
        as
        well as a certificate of an engineer to the effect that the changes that
        the
        Lessee is seeking to make will not cause any harm to the structure of the
        building and that the Lessee will obtain and furnish to the Management Company
        all such additional approvals as are necessary, if any, for the purpose of
        effecting such changes.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	8.	
                Insurance

              

      

      

      The
        parties undertake to act in accordance with the provisions of the insurance
        appendix that is attached to the Lease Contract and to furnish such certificates
        as are required therein prior to the delivery of possession of the
        property.

      

      
        	9.	
                The
                  Lessee's Obligations

              

      

      

      
        	
              	9.1	
                The
                  Lessee hereby undertakes that it and its visitors and anybody representing
                  or acting on its behalf will comply with all the obligations that
                  arise
                  either directly/indirectly from this Contract, as well as with
                  such
                  regulations and procedures as are prescribed by the Management
                  Company.

              

      

      

      
        	
              	9.2	
                In
                  order to enable the Management Company to fulfill its obligations
                  in this
                  Contract, to manage the project and to supply services in an efficient,
                  complete and orderly manner, the Lessee hereby permits the Management
                  Company and its representatives, for the purpose of effecting repairs,
                  maintenance, inspection, mobility of assets and equipment in the
                  building
                  and examinations that it is entitled to conduct in accordance with
                  this
                  Contract or in accordance with the Lease Contract, to enter the
                  property
                  in order to replace and/or repair common systems, piping, channels,
                  cables
                  etc. and/or for the installation of assets for property owners
                  in the
                  building and to carry out any work that is reasonably necessary
                  in the
                  Management Company's opinion for the provisions of the services,
                  and
                  including to make openings in walls, floors, ceiling etc. In any
                  case of
                  action being taken as aforesaid, the Management Company will ensure
                  that
                  the disturbance to the Lessee shall be as little as possible and
                  that the
                  property is restored to its previous condition as early as
                  possible.

              

      

       

      The
        Lessee's aforesaid obligation shall apply irrespective of whether the actions
        and works that are referred to are carried out by the Management Company
        on its
        behalf or are done on behalf of the owners or occupiers of other properties
        in
        the project.

      

      
        	
              	9.3	
                The
                  Lessee shall notify the Management Company as soon as possible
                  of any
                  fault or breakdown that requires action to be taken on the part
                  of the
                  Management Company.

              

      

      

      
        	10.	
                Payments
                  to the Management
                  Company

              

      

      

      
        	
              	10.1	
                All
                  expenses of the Management Company for providing the services in
                  accordance with this Contract, including administrative expenses,
                  bookkeeping, legal advice, technical and professional personnel,
                  materials, financing, taxes and fees and any other expenses and
                  payments
                  that are to be made by the Management Company in connection with
                  management of the project and/or in connection with the powers
                  and duties
                  of the Management Company under this Contract (and including expenses
                  in
                  the period that preceded delivery of the units to the owners of
                  the
                  properties in the project as well as expenses as stated hereunder
                  in
                  Section 10.2; hereinafter inclusively referred to as: "The
                  Expenses" )
                  shall be on behalf of and at the expense of owners of the properties
                  in
                  the project.

              

      

      
The
        expenses chargeable in this regard under this contract to
        the property owner shall apply to the Lessee throughout the contractual term
        in
        accordance with this Contract.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      The
        Management Company shall also ensure the settlement of taxes, fees, levies
        and
        participation fees that are chargeable and/or will in future be imposed in
        relation to the common property and to the common installations, as well
        as
        taxes, fees, levies and participation fees that are chargeable and/or that
        will
        in future be imposed in connection with a service, installation or areas
        serving
        the properties in the project, provided that no property shall be charged
        independently for such service or installation as well as such payments as
        by
        implication fall within the definition of the expenses.

      

      
        	
              	10.2	
                The
                  Management Company may also include, separately, in invoices that
                  are sent
                  to the Lessee, a demand for amounts that are intended to cover
                  expenses of
                  the repair and renewal of installations, equipment and parts of
                  the
                  building in the common property and of such equipment and installations
                  of
                  the Management Company as are necessary for performing all or part
                  of the
                  services, at the sole discretion of the Management Company, and
                  where
                  necessary, in consultation with experts in the matter (hereinafter:
                  "the
                  equipment renewal fund").
                  Amounts that are paid to the said fund shall be deemed to be a
                  deposit
                  that is to be held by the Management Company in a separate account
                  as
                  Trustee of the property owners in the project and shall act as
                  an
                  increment for the renewal and replacement of the equipment as well
                  as for
                  its renovation, replacement and repair. The Management Company
                  will not be
                  entitled to draw monies from the equipment renewal fund other than
                  after
                  having obtained the certificate of the Management Company's Auditor
                  and
                  signature of the usual duly authorized signatories of the Management
                  Company.

              

      

       

      The
        Auditor's certificate can be given in advance over the annual budget and
        in such
        a case any expense in such context shall for the purposes of this sub-section
        be
        deemed an expense that has been approved by the Auditor.

       

      In
        the
        event of the equipment renewal fund being insufficient for all the purposes
        referred to in this section - all the property owners in the project shall
        make
        up the deficiency pro
        rata as
        specified hereunder in Section 10.5.

       

      Where
        disputes have arisen in relation to the equipment renewal fund - the provisions
        of Section 12 hereunder shall also apply respectively to the said
        Fund.

      

      
        	
              	10.3	
                In
                  addition to the amount of the expenses specified above, the Lessee
                  is
                  obligated to pay the Management Company, as a special fee to the
                  Management Company, a sum that is equivalent to 15% of the amount
                  of the
                  Lessee's share of the expenses, with the addition of VAT (hereinafter:
                  "the
                  special fee")
                  and this simultaneously with payment of the
                  expenses.

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
              	10.4	
                As
                  a condition for the delivery of possession of the property to the
                  Lessee
                  by the developer and in order to assure performance of the services,
                  the
                  Lessee shall make a deposit with the Management Company of the
                  estimated
                  amount of the total expenses for three months in respect of its
                  share in
                  the maintenance and management expenses, in the equipment renewal
                  fund and
                  in the aforesaid special fee (hereinafter: "the
                  deposit").

              

      

       

      The
        deposit will be held by the Management Company in accounts and/or securities,
        at
        its discretion. The Management Company will be entitled to draw out moneys
        from
        the deposit whenever moneys are due to it from the Lessee, which have not
        been
        paid on time and in such a case the Lessee will be obliged to replenish the
        amount of the deposit forthwith.

       

      The
        Management Company will be entitled from time to time to make a reassessment
        in
        respect of the expenses that it will be incurring in connection with the
        management and performance of the services under this Contract, and should
        it
        become evident that the total of all the amounts that the Lessee is to pay
        on
        account of its share in the expenses exceeds the amount which formed the
        basis
        for the deposit being held by the Management Company at that time, in that
        event
        the Lessee will pay the Management Company, forthwith upon its first demand,
        an
        additional sum in keeping with such reassessment.

       

      The
        aforementioned deposit and any supplementary amount that is paid as aforesaid
        shall be held by the Management Company and shall not detract from the Lessee's
        obligation to pay the current amounts of the charges that are submitted to
        it by
        the Management Company. Where the Lessee has not paid any amount that it
        is
        liable to pay the Management Company in accordance with this Contract the
        Management Company may, without derogating from its other rights under this
        Contract and/or under any law, deduct the said amount from the deposit. The
        deposit shall also act as security for the performance of all the Lessee's
        obligations under this Contract and it is hereby agreed that the amount of
        the
        deposit shall constitute pre-estimated and agreed compensation between the
        parties in respect of any fundamental breach of this Contract by the Lessee,
        and
        this without derogating from the right of the Management Company to claim
        supplementary compensation from the Lessee as well as any other relief under
        this Contract and in accordance with any law. Where the Lessee has complied
        with
        all the provisions of the Management Contract the Management Company shall
        refund the amount of the deposit to it, this being upon termination of the
        term
        of the Lease and vacation of the property by the Lessee, with the amount
        of the
        deposit being linked to the Consumer Prices Index (the known index) from
        the
        date of the making of the deposit and until the date of such refund as
        aforesaid.

      

      
        	
              	10.5	
                The
                  Management Company will take action with regard to the collection
                  of such
                  payments as are due from the Lessee under this Contract in accordance
                  with
                  the following provisions:

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
              	10.5.1	
                The
                  Management Company shall divide the expenses in respect of the
                  services
                  that are the subject of this Contract, between owners of the properties,
                  each according to his share and his rights in the common property,
                  in
                  accordance with a uniform formula which shall be prepared by the
                  Management Company and which shall be based on the area of the
                  unit in
                  respect of which the Lessee has contracted in the Lease Contract
                  pro
                  rata to
                  the total of all areas of the units in the
                  Project.

              

      

      

      
        	
              	10.5.2	
                Notwithstanding
                  the foregoing, in respect of services that are of special benefit
                  to
                  owners of certain properties, only those owners or occupiers of
                  those
                  properties, as the case may be, will be charged, and this in accordance
                  with a formula that is prepared by the Management Company and which
                  shall
                  be based on the principle of division as aforesaid, mutatis
                  mutandis.
                  The
                  Management Company shall decide at its discretion which expenses
                  shall
                  apply to all the properties in the project and which of them (or
                  some of
                  them) shall apply to certain
                  properties.

              

      

      

      
        	
              	10.5.3	
                For
                  the removal of doubt it is hereby clarified that the Israel Electric
                  Corporation Ltd. as well as other authorities and other bodies
                  that occupy
                  parts of the project for the purpose of supplying services to the
                  owners
                  of the properties in the project will not be liable to contribute
                  to the
                  Management Expenses.

              

      

      

      
        	
              	10.5.4	
                The
                  Management Company may also charge the Lessee for expenses that
                  were
                  incurred prior to the delivery of the unit to it provided that
                  such
                  expenses were incurred in the establishment of the Management Company's
                  infrastructure and its offices or were incurred for the purpose
                  of
                  providing other appropriate
                  services.

              

      

       

      The
        Management Company may collect such amounts immediately upon commencement
        of the
        provision of the management services to the Lessee, or may spread them over
        a
        longer period, or defer them to a later date, and in such a case the Lessee
        shall bear its pro
        rata share
        of
        such payments as well as the costs of finance in respect of such spreading
        or
        deferment.

      

      
        	
              	10.5.5	
                The
                  Management Company's expenses including salaries of its employees
                  and
                  workers and/or remuneration of those engaged by it in carrying
                  out the
                  works, shall be reasonable and in keeping with what is normal and
                  acceptable.

              

      

      

      
        	
              	10.5.6	
                Without
                  derogating from the other obligations of the Lessee under this
                  Contract
                  the Lessee undertakes to make advance payments to the Management
                  Company
                  on account of its share of the expenses and the special fee in
                  accordance
                  with demands submitted to it by the Management Company. It is hereby
                  agreed that the first advance payment shall be made on the date
                  of
                  delivery of possession of the property, this being in reference
                  to the
                  period from receipt of possession of the property and until the
                  first day
                  of whichever month is the first of the months of January, April,
                  July or
                  October, and as a condition for receipt of possession of the property.
                  It
                  is hereby agreed that the first advance payment shall be paid on
                  the date
                  of delivery of possession of the property, this being in reference
                  to the
                  period from receipt of possession of the property and until the
                  first day
                  of whichever is the first of the months of January, April, July
                  or
                  October. The other advance payments shall be made for every quarter
                  in
                  advance on the 1st of the months of January, April, July and October,
                  as
                  the case may be.

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
              	10.5.7	
                Within
                  4 months from the end of every year the Management Company shall
                  prepare a
                  final account of the expenses of management and performance of
                  the
                  services (including payment to the equipment renewal fund and payment
                  of
                  the special fee) (hereinafter: "the
                  annual account")
                  and shall furnish a copy of such account to the Lessee. The annual
                  account, having been audited and certified by the Management Company's
                  Auditor, shall constitute evidence as to the amount of the expenses
                  of
                  management and performance of the services, as to the payments
                  to the
                  equipment renewal fund and as to the amount of the special fee.
                  

              

      

      

      
        	
              	10.5.8	
                Within
                  7 days of the date on which the Management Company has submitted
                  the final
                  account to the Lessee, the Lessee shall pay the Management Company
                  such
                  differences, if any, between the amounts paid on account of its
                  estimated
                  share in accordance with the periodical invoices, and the amounts
                  of the
                  expenses appearing in the final account. In the event of there
                  being any
                  difference in favor of the Lessee his current account will be credited
                  accordingly. 

              

      

      

      
        	
              	10.5.9	
                The
                  Management Company may make a charge to the Lessee in respect of
                  its
                  estimated share of the annual account differentials even prior
                  to the
                  audit having been fully concluded and the certificate of the Company's
                  auditor having been issued, this being if and when it is necessary
                  to do
                  so in the opinion of the Management Company. The Lessee will pay
                  this
                  charge within 7 days of the date of demand for payment by the Management
                  Company and the payment in respect of such interim account shall
                  be added
                  to the Lessee's payments on account of his share of the expenses,
                  up to
                  the conclusion of preparation of the annual account and its certification
                  by the Auditor.

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
              	10.5.10	
                Debts
                  of owners of properties in the project which the Management Company
                  has
                  difficulty in recovering, despite having taken legal steps to recover
                  them, shall be attributed as an expense to doubtful debts when
                  preparing
                  the annual account and shall form part of the expenses incurred
                  by the
                  Management Company. 

              

      

       

      The
        Lessee undertakes to cover his share of the said expenses and this in order
        to
        facilitate a continuation of the Management Company's day today
        operation.

       

      The
        amounts received in respect of the aforesaid debts shall only be recorded
        in the
        books of the Management Company at the time of their actual receipt. A
        determination as to the classification of a debt as "problematical" shall
        be
        made in accordance with a decision of the Management Company and with the
        approval of its Auditor. The Management Company will not be entitled to the
        aforesaid special fee in respect of expenses for doubtful debts.

      

      
        	
              	10.5.11	
                The
                  Management Company may invest any surplus funds in its possession,
                  either
                  from the deposit moneys or from any other source, in deposits and/or
                  in
                  government bonds and the profits or losses, if any, shall be attributed
                  to
                  income or to an expense of maintenance of the building.
                  

              

      

      

      
        	
              	10.5.12	
                In
                  this Section 10: "year"
                  -
                  means a calendar year commencing on January 1 of a particular year
                  and
                  ending on December 31. Notwithstanding the foregoing, the period
                  from the
                  date of delivery of possession to the Lessee in accordance with
                  Lease
                  Contract to the end of the year, may be added to the subsequent
                  year.
                    

              

      

      

      
        	
              	10.5.13	
                All
                  the accounts referred to in the Management Contract shall be linked,
                  from
                  the date of dispatch of the account until its actual payment by
                  the
                  Lessee, to the US Dollar or to any other currency or index that
                  is
                  stipulated from time to time by the Management Company at its sole
                  discretion, as shall be specified in the
                  account.

              

      

      

      
        	
              	10.5.14	
                The
                  books and accounts of the Management Company shall at all times
                  serve as
                  prima
                  facie proof
                  in all matters pertaining to payments made by the Lessee to the
                  Management
                  Company.

              

      

      

      
        	
              	10.5.15	
                All
                  such payments as apply to the Lessee under this Contract shall
                  be made by
                  it on the payment date by 11 a.m. at the offices of the Management
                  Company
                  or shall be deposited by such time in such bank account as the
                  Management
                  Company instructs the Lessee from time to
                  time.

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
              	10.5.16	
                The
                  Lessee shall add VAT to any amount that it has to pay under the
                  Contract
                  and this according to the legal rate thereof at the time of
                  payment.

              

      

      

      
        	
              	10.5.17	
                For
                  the removal of doubt it is hereby clarified that the Management
                  Company
                  may borrow moneys from whatever source it sees fit to finance its
                  activities that are necessary for management and performance of
                  the
                  services in accordance with this Contract, to the extent that the
                  Management Company does not hold credit balances from the moneys
                  received
                  from the property owners in accordance with invoices submitted
                  to them by
                  the Management Company. All such expenses as are involved in finance
                  and
                  obtaining it (and without derogating from the generality of the
                  foregoing
                  - banking commissions, interest, linkage differentials etc.) shall
                  be
                  included as part of "the expenses" that are the subject of this
                  Contract.

              

      

      

      
        	
              	10.5.18	
                For
                  the removal of doubt it is hereby clarified that all the obligations
                  of
                  the Lessee under this Contract shall apply to the Lessee irrespective
                  of
                  whether or not it is occupying and/or using the property and/or
                  any part
                  thereof itself, and this - for as long as the Lessee has not transferred
                  its rights in the property in accordance with the provisions of
                  the Lease
                  Contract and this Contract and the recipient of the rights has
                  not
                  accepted personal responsibility for all the Lessee's obligations
                  under
                  this Contract.

              

      

      

      
        	
              	10.6	
                Cancelled

              

      

      

      
        	11.	
                Lateness
                  in Payments

              

      

      

      
        	
              	11.1	
                In
                  any case in which the Lessee is late with any payment that is due
                  from it
                  or becomes due from it in the future to the Management Company
                  in
                  accordance with this Contract and/or if the Lessee has committed
                  a breach
                  of one of the provisions of this Contract, the Management Company
                  shall
                  also be entitled - in addition to and without derogating from its
                  right to
                  claim any sum due to it from the Lessee and to payment from him
                  - to any
                  other relief, and at its choice:

              

      

      

      
        	
              	11.1.1	
                To
                  completely or partially stop providing the services being provided
                  to the
                  Lessee. Stoppage of the services as aforesaid shall not absolve
                  the Lessee
                  from the obligations to continue paying its share of the expenses
                  and the
                  management charges as if the Management Company had continued providing
                  the services to it.

              

      

      

      
        	
              	11.1.2	
                To
                  add to any payment or expense due from the Lessee who is late with
                  his
                  payments, late payment interest at such rate as is usual at that
                  time in
                  Bank Hapoalim Ltd. in respect of over drawings on current loan
                  accounts
                  and/or linkage differentials and interest as the same are defined
                  in the
                  Adjudication of Interest and Linkage Law, 5721-1961, all according
                  to
                  whichever is the higher of the two.

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
              	11.1.3	
                To
                  demand a mandatory injunction and/or a prohibitory injunction and/or
                  such
                  other relief as the Management Company sees
                  fit.

              

      

      

      
        	
              	11.2	
                In
                  any case in which steps are taken by the Management Company against
                  the
                  Lessee as a result of a breach of this Contract on its part, the
                  Lessee
                  shall indemnify the Management Company for all such expenses as
                  the
                  Management Company incurs in connection with the taking of the
                  aforementioned steps.

              

      

      

      
        	
              	11.3	
                The
                  refusal or unwillingness of the Lessee to accept any service and/or
                  its
                  wish to terminate and/or rescind this Contract or some of the provisions
                  stipulated therein, shall not absolve it from the obligation of
                  contributing to all such payments as are due from it under this
                  Contract.

              

      

      

      
        	
              	11.4	
                If
                  the Lessee fails to make any payment under this Contract in full
                  and on
                  the due date thereof, the Management Company may at its discretion,
                  without derogating from its right from any other relief, use the
                  deposit
                  moneys to cover the said payment. In such a case the Lessee shall
                  replenish the amount of the deposit to the original amount thereof
                  with
                  the addition of differentials linked to the Consumer Price Index
                  up to the
                  date of such replenishment.

              

      

      

      
        	12.	
                Assignment
                  of the Lessee's and the Management Company's
                  Obligations

              

      

      

      
        	
              	12.1	
                The
                  Lessee may not assign his rights and obligations under this Contract
                  to
                  another party other than with the explicit agreement of the Management
                  Company, in advance and in writing.

              

      

      

      
        	
              	12.2	
                The
                  Lessee is aware that the Management Company may at any time during
                  the
                  term of the Contract and at its exclusive discretion, assign and
                  transfer
                  all its rights and obligations under this Contract or part of such
                  rights
                  and obligations, to another Management Company or to any other
                  legal body
                  that exists or that shall be formed for such purpose, irrespective
                  of
                  whether or not it is connected to the Management Company and/or
                  the
                  Developer and/or is under their control (hereinafter: "the
                  New Management Company"),
                  and in such a case the following provisions shall
                  apply:

              

      

      

      
        	
              	12.2.1	
                The
                  Management Company shall assign to the New Management Company all
                  its
                  rights and obligations under this Contract, or some of them, and
                  shall
                  procure the acceptance by the New Management Company of personal
                  responsibility for such rights and obligations as have been assigned,
                  instead of the Management Company.

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
              	12.2.2	
                Where
                  such an assignment has occurred, the Management Company shall be
                  released
                  from such of its obligations under this Contract as have been transferred,
                  and all its rights and obligations under this Contract commencing
                  from the
                  date of such assignment shall automatically be deemed to have been
                  vested
                  in the New Management Company.

              

      

      

      
        	13.	
                Term
                  of the Contract

              

      

      

      
        	
              	13.1	
                The
                  Lessee is aware that management of the services in the project
                  has been
                  assigned to the Management Company for a term that will terminate
                  on the
                  expiration of 10 years from the date of completion of the building
                  and
                  that such term will be automatically reviewed for a further term
                  of 3
                  years each time unless it is resolved by the holders of 51% of
                  the
                  properties in the project (according to areas of the units) not
                  to renew
                  it and provided that they have concluded an agreement with another
                  management company in relation to provision of the services to
                  the
                  building. In such a case the Management Company shall be given
                  written
                  notice thereof at least 6 months prior to the end of one of the
                  aforementioned periods. Where such notice has been given this Contract
                  shall terminate at the end of the contractual term to which such
                  notice
                  refers. Termination of the Contract as aforesaid shall not prejudice
                  any
                  right to a payment that is due to the Management Company up to
                  the end of
                  the contractual term.

              

      

      

      
        	
              	13.2	
                The
                  term of the Contract between the Management Company and the Lessee
                  under
                  this Contract will come to an end upon the termination of the term
                  of the
                  Lease as aforesaid in the Lease Contract and/or upon its
                  expiration.

              

      

      

      
        	
              	13.3	
                Notwithstanding
                  the provisions of this Contract the Management Company may, by
                  sending
                  notice in writing to the Lessee and to the other property owners
                  in the
                  Project, shorten the period of the validity of this Contract and
                  terminate
                  it on such date as it shall stipulate and which shall be prior
                  to the end
                  of the Contract term, provided that notice thereof in writing is
                  given at
                  least 6 months in advance. The Management Company may also shorten
                  the
                  period of validity of this Contract with a shorter period of notice,
                  and
                  this if it has reached a situation in which it is unable to function
                  as a
                  result of non-payment of the expenses and/or as a result of other
                  matters
                  that are outside its control.

              

      

      

      
        	
              	13.4	
                The
                  Lessee is aware that notwithstanding anything stated in this Contract,
                  if
                  it should be decided by the owners of at least 75% of the properties
                  in
                  the project (according to areas of the units) to terminate the
                  Contract
                  with the Management Company, this Contract shall terminate on such
                  date as
                  is stipulated in such decision but not prior to the expiration
                  of 3 months
                  from service of notice of termination of the Contract on the Management
                  Company.

              

      

      
         

        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      
        	14.	
                Non-Exercise
                  of Rights

              

      

      

      Delay
        in
        and/or failure to exercise and/or a waiver of and/or a change in any of the
        terms of this Contract by either of the parties will not be valid unless
        made in
        writing and signed by the parties.

       

      A
        delay
        in the exercise of any of the rights of the parties under this Contract shall
        not constitute an admission of and/or a waiver of and/or consent to the acts
        and/or omissions of the other party.

      

      
        	15.	
                Comprehensive
                  Nature and Validity of the
                  Contract

              

      

      

      
        	
              	15.1	
                This
                  Contract reflects all that has been agreed between the parties,
                  and no
                  variation therein shall be valid unless it is made in writing and
                  is duly
                  signed by the parties or by whoever is duly authorized to sign
                  on their
                  behalf. 

              

      

      

      
        	
              	15.2	
                Where
                  there are more than one individual comprising the Lessee, as defined
                  in
                  this Contract, this Contract shall be binding on such individuals,
                  jointly
                  and severally. Each of the individuals comprising the Lessee shall
                  be
                  bound under this Contact by any act for which he has signed even
                  if it has
                  not been signed by the other party or parties.

              

      

       

      In
        the
        even of one of the individuals comprising the Lessee signing any document,
        instrument, letter or certificate of any kind in relation to any matter or
        thing
        connected with this Contract, its performance or arising from it, the Management
        Company will be entitled to view his signature as binding all the individuals
        comprising the Lessee, and signature of this Contract by individuals comprising
        the Lessee shall be deemed in all respects to be the giving of authorization
        by
        individuals comprising the Lessee as between themselves and by one to the
        other
        - to render the other individuals comprising the Lessee liable, or for their
        benefit, as aforesaid. 

      

      
        
          	16.	
                  Jurisdiction
                    and Choice of
                    Law

                

        

      

      

      
        	
              	16.1	
                In
                  any dispute between the parties to this Contract and in relation
                  thereto,
                  or to a breach thereof, its interpretation, applicability and/or
                  its
                  validity, the Court in Tel-Aviv shall have exclusive jurisdiction.
                  

              

      

      

      
        	
              	16.2	
                The
                  provisions of Israeli Law shall apply to this Contract.
                  

              

      

      

      
        	17.	
                Notifications

              

      

      

      
        	
              	17.1	
                The
                  addresses of the parties for the purposes of and in connection
                  with this
                  Contract are as specified in the title heading of this Contract
                  or any
                  other address in Israel that is specified in a notification that
                  is sent
                  to the other party in accordance with the provisions of this
                  section.

              

      

      

      
        	
              	17.2	
                Any
                  notification that is sent by one party to the other in accordance
                  with the
                  said addresses shall be deemed to have reached its destination
                  after 3
                  business days have elapsed since the time of its dispatch by registered
                  mail. 

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      AND
        IN WITNESS WHEREOF THE PARTIES HAVE SIGNED:

       

      
 

      
        	
                                                                                             
                     

              	
                
                                                                                               
                       

                

              
	
                The
                  Management Company

              	
                ROSETTA
                  GENOMICS LTD.

              
	 	
                18
                  Ha'Sela Street, Ein-Karem

              
	 	
                Jerusalem
                  95742, Israel

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

        

          RORBERG
            CONTRACTING AND INVESTMENTS (1963) LIMITED

          TAZOR
            DEVELOPMENT LIMITED

           Appendix
            B

          

          Protocol
            for Delivery of Unit

          

          Name:
            ____________ Address:
            ____________ Unit
            Number: ____________

          Meter
            Readings: Electricity: ____________ Water: ____________
            Telephone:
            ____________

          We,
            the
            undersigned, hereby confirm receipt of keys to Unit Number ____________
            and
            plot
            number 1009 in block ____________ floor:
            ____________ sides: ____________
            from
            Rorberg Contracting and Investments (1963) Limited and from Tazor Development
            Limited pursuant to the terms and conditions of the agreement between
            us dated:
            ____________.

          

          We
            declare that we have examined the unit at the time of receiving it, including
            the flooring, the plaster, the ceramics, the marble, the paint, the whitewash,
            the frameworks, the aluminium works, the ceramics, the sanitaryware,
            electricity, woodwork, carpentry, shutters, glass, (unclear) and common
            property
            and that everything has been found to be to our full satisfaction except
            for the
            following details:

          

          
            	
                    1.

                  
	
                    2.

                  
	
                    3.

                  
	
                    4.

                  
	
                    5.

                  
	
                    6.

                  
	
                    7.

                  
	
                    8.

                  

          

          

          Subject
            to the repair of the abovesaid, we have no demand regarding the delivery
            of the
            Unit to us.

          

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

          In
            order
            to alleviate any doubt we declare that we are aware that the list of
            details
            above appears for the convenience of the examination only and it is possible
            that it includes items which are not owed to us under the agreement and
            we are
            aware that only the list included in the technical specifications and/or
            the
            list of additional works attached to the agreement binds you.

          

          Date:
            ____________ Tenant’s
            name: __________________ Signature:
            __________________

           

          We
            the
            undersigned confirm the receiving of the unit delivery protocol
            above.

          

          Date:

          

          (Signed)
            Rorberg Contracting and Investments (1963) Ltd.

          

          (Signed)
            Tazor Development Limited

          

          (Signed)
            The Lessee

          

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

            

              Appendix
                C

              Insurance
                Appendix

              
                	
                        1.1

                      	
                        Without
                          derogating from the Lessee’s liabilities under the Contract of Lease
                          and/or the Management Contract (Hereinafter: “The
                          Contract”)
                          and/or in law, the Lessee undertakes to procure, before
                          the date of
                          receiving the possession in the Property and before the
                          commencement date
                          for the execution of any works in the Property by the Lessee
                          and/or anyone
                          on its behalf and/or for it (according to the earlier of
                          the two dates) in
                          connection with any work executed by it and/or on its behalf
                          and/or for it
                          in the Property, including equipment, systems, machinery
                          which is to be
                          used by its business as well as any repairs, renovations,
                          improvements,
                          alterations and additions to be undertaken in the Property
                          (except for
                          works to be carried out by the Contractor in accordance
                          with the
                          Contractor’s undertakings, is said to be included in the Contract
                          of
                          Lease) Construction
                          Work Insurance,
                          as follows:

                         

                      

              

              
                	 	
                        The
                          Construction Work Insurance shall be procured in the name
                          of the Lessee,
                          the Contractors and subcontractors, the Contractor and
                          the Management
                          Company, with a duly certified and reputable Israeli insurance
                          company and
                          shall include the following insurance chapters:

                         

                      

              

              
                	
                        1.1.1

                      	
                        Chapter
                          One - Insurance against all risks insuring for the full
                          value all the
                          works executed by the Lessee and/or anyone on its behalf
                          and/or for it as
                          well as repairs, renovations, improvements, alterations
                          and additions to
                          be made to the Property. This chapter shall include a clause
                          regarding the
                          waiver of subrogation towards the Contractor and the Management
                          Company as
                          well towards all the owners and other holders of possession
                          (as well as
                          towards those employed by it as detailed above) where their
                          insurance
                          policies regarding the properties in the Project have included
                          a parallel
                          clause regarding the waiver of subrogation towards the
                          Lessee for any
                          damage whatsoever caused by them provided that that stipulated
                          regarding
                          the waiver of the right of subrogation shall not apply
                          in favor of a
                          person who has maliciously caused the damage. The Chapter
                          shall include an
                          expressed extension regarding property which has been worked
                          upon and/or
                          adjacent property, a limit of liability which shall not
                          be less than
                          $50,000 (fifty thousand United States Dollars).

                         

                      

              

              
              

               

              
                
                  
                  

                

                
                  
                  

                  
                    

                  

                

                
                  
                  

                

              

              
                	
                        1.1.2

                      	
                        Chapter
                          Two - Third party liability insurance with a limit of liability
                          which
                          shall not be less than $1,000,000 (one million United States
                          Dollars) this
                          chapter shall not be subject to any limitation regarding
                          liability arising
                          from fire, explosion, panic, hoisting instruments, loading
                          and offloading,
                          poisoning, anything damaging in food stuff and in drink,
                          defective
                          sanitary installations, shaking and weakening of supports,
                          strikes and go
                          slow strikes as well as subrogation claims on the part
                          of the National
                          Insurance Institute. The said chapter will include a cross
                          liability
                          clause according to which the insurance shall be considered
                          as if procured
                          separately for each one of the individuals constituting
                          the insured party.
                          It will also be expressly indicated, and for the sake of
                          alleviating any
                          doubt, that the property of the Contractor and of the Management
                          Company
                          shall be considered as third party property for the purpose
                          of this
                          chapter.

                         

                      

              

              
                	
                        1.1.3

                      	
                        Chapter
                          Three - Employers’ liability insurance for liability towards all employees
                          in execution of the works to a limit of liability which
                          shall not be less
                          than that acceptable in Israel at the time of the procuring
                          of the
                          insurance. This insurance shall not include any limitation
                          regarding works
                          executed at heights and at depths, hours of work, baits
                          and poisons,
                          contractors, subcontractors and their employees and anything
                          regarding the
                          employment of youth in accordance with Law.

                         

                      

              

              
                	 	
                        The
                          Construction Work Insurance shall include an explicit condition
                          where
                          under it takes precedence over any other insurance procured
                          by the
                          Contractor and/or by the Management Company and that the
                          insurer waives
                          any claims and/or demand regarding insurance participation
                          by the
                          Contractor and/or the Management Company.

                         

                      

              

              
                	
                        1.2

                      	
                        Without
                          derogating from the Lessee’s liability under the Contractor and/or on any
                          law, the Lessee undertakes to procure, prior to the delivery
                          of possession
                          date in the Property and prior to the date of entry of
                          any assets
                          whatsoever into the Property (unless such assets have been
                          included in the
                          insured works pursuant to Section 1.1 above) - according
                          to the earlier of
                          the two - and throughout the Contract Term to maintain
                          those insurance
                          policies as detailed below in this section (which shall
                          hereinafter be
                          referred as to: “The
                          Property Insurance Policies”),
                          and to do so at a reputable duly certified Israeli insurance
                          company.

                         

                      

              

              
              

               

              
                
                  
                  

                

                
                  
                  

                  
                    

                  

                

                
                  
                  

                

              

              
                	
                        1.2.1

                      	
                        Insurance
                          for the contents of the Property, the equipment serving
                          the Property under
                          the ownership and/or liability of the Lessee and located
                          outside of the
                          Property within the confines of the Project as well as
                          any repair,
                          alteration, improvement, renovation and addition to the
                          undertaken and/or
                          to be undertaken to the Property by the Lessee and/or for
                          the Lessee as
                          well as furniture, equipment, operators, appliance and
                          stocks, of any kind
                          and sort whatsoever, against loss or damage due to fire,
                          smoke, lightning,
                          explosions, earthquakes, tempests, floods, damage from
                          liquids and
                          bursting of pipes, impact, damage by aircraft, strikes,
                          riots, malicious
                          damage as well as break-in and burglary. The insurance
                          shall include an
                          express clause according to which the insurer waives any
                          right of
                          subrogation towards the Contractor and towards the Management
                          Company as
                          well as towards the other owners and holders of possession
                          (as well as
                          towards employees employed as detailed above) whose insurance,
                          regarding
                          their properties in the Project, have included a parallel
                          clause regarding
                          the waive of the right of subrogation provided that that
                          which has been
                          stipulated regarding such waiver of the subrogation does
                          not apply in
                          favor of a person who has maliciously caused damage.

                         

                      

              

              
                	
                        1.2.2

                      	
                        Third
                          party liability insurance at a limit of liability which
                          shall not be less
                          than the total amount equivalent in New Israel Shekels
                          of $1,000,000 (one
                          million United States Dollars) per event and on an accumulative
                          basis
                          through the course of one insurance year.

                         

                      

              

              
                	 	
                        This
                          insurance shall not be subject to any limitation regarding
                          liability
                          arising from fire, explosion, panic, hoisting equipment,
                          loading and
                          offloading, defective sanitary installations, poisoning,
                          anything damaging
                          to food stuff or drink, liability towards or due to contractors,
                          subcontractors and their workers, strikes and go slow strikes
                          as well as
                          any subrogation claim on the part of the National Insurance
                          Institution.
                          The insurance shall be extended to indemnify the Contractor
                          and the
                          Management Company for the liability as owners and/or managers
                          of the
                          Property and also for the liability for the acts and/or
                          omissions of the
                          Lessee, subject to the cross liability clause under which
                          the insurance
                          shall be considered as if procured separately for each
                          one of the
                          individuals compromising the insured party. 

                         

                      

              

              
              

               

              
                
                  
                  

                

                
                  
                  

                  
                    

                  

                

                
                  
                  

                

              

              
                	
                        1.2.3.

                      	
                        Employers’
                          liability insurance for liability of the Lessee towards
                          all its employees
                          and those acting on its behalf to a limit of liability
                          which shall not be
                          less than that which is acceptable in Israel at the time
                          of the drawing up
                          of the insurance and/or its renewal. This insurance shall
                          not include any
                          limitation regarding works at heights and at depths, hours
                          of work,
                          liability towards contractors, subcontractors and employees,
                          baits, and
                          poisons as well as employment of youth in accordance with
                          Law. The said
                          insurance shall be extended to indemnify the Contractor
                          and/or the
                          Management Company should they be considered to be employers
                          of the
                          Lessee’s employees and/or any one of them.

                         

                      

              

              
                	
                        1.2.4

                      	
                        Insurance
                          for the loss of income (excepting Rental Payments and Management
                          Fees) due
                          to the risks insured under Section 1.2.1 above, throughout
                          the
                          indemnification period which shall not be less than 12
                          months. The said
                          insurance shall include a waiver on the right of subrogation
                          towards the
                          Contractor and the Management Company and towards the other
                          owners and
                          holders of possession (as well as towards those employed
                          by the above
                          specified) whose insurance regarding their properties in
                          the Project have
                          included a parallel clause regarding the waiver of the
                          right of
                          subrogation towards the Lessee and/or those employed by
                          the Lessee
                          provided that the above said regarding the waiver of the
                          right of
                          subrogation does not apply in favor of a person who has
                          maliciously caused
                          damage.

                         

                      

              

              
                	 	
                        Notwithstanding
                          the above said it is agreed that the Lessee may not procure
                          insurance for
                          loss of income (partially or fully) however, that stated
                          in Section 1.4
                          below shall apply regarding any loss of income as stated
                          above, as if
                          insurance was procured for such.

                         

                      

              

              
                	 	
                        The
                          Property Insurance Policies shall include and express clause
                          according to
                          which take precedence over any insurance procured by the
                          Contractor and/or
                          by the Management Company and that the insurer waives any
                          claim and demand
                          regarding the insurance participation of the Contractor
                          and/or the
                          Management Company.

                         

                      

              

              
              

               

              
                
                  
                  

                

                
                  
                  

                  
                    

                  

                

                
                  
                  

                

              

              
                	
                        1.3

                      	
                        The
                          Lessee undertakes to update the insurance amount for the
                          insurance
                          policies procured by it, from time to time, in order for
                          such to
                          constantly reflect the full value of the property insured
                          thereunder.
                          

                         

                      

              

              
                	
                        1.4

                      	
                        The
                          Lessee declares that it shall have no claim and/or demand
                          and/or suit
                          against the Contractor or the Management Company or a property
                          holders in
                          the Project and/or other holders of possession, in who
                          were aware their
                          contracts of purchase or lease or any other contract vesting
                          them rights
                          in the Building have included a parallel exemption towards
                          the Lessee for
                          damage to which it is entitled to indemnification under
                          the insurance
                          policies which it has undertaken to procure pursuant to
                          Sections 1.2.1,
                          1.2.2, 1.2.3 and 1.2.4 above and it hereby exempts the
                          above specified
                          from any liability from said damage. The above said regarding
                          the
                          exemption of liability shall not apply in favor of a person
                          who has
                          maliciously caused damage.

                         

                      

              

              
                	
                        1.5

                      	
                        The
                          Lessee undertakes to comply with the terms and conditions
                          of the policies
                          to pay the insurance premiums in full and by the due dates
                          and to see to
                          it and to ensure that the insurance policies for the Property
                          are renewed
                          from time to time according to need and that they will
                          be valid throughout
                          the Lease Term. The Lessee also undertakes to provide confirmation
                          of the
                          insurer, regarding the fulfillment of the policies and
                          that, in any event,
                          the policies shall not be limited and shall not be canceled
                          unless the
                          insurer provides written notice of such to the Contractor
                          and the
                          Management Company at least 60 days in advance.

                         

                      

              

              
                	
                        1.6

                      	
                        The
                          Contractor may examine the insurance policies procured
                          by the Lessee and
                          the Lessee undertakes to carry out any change or amendment
                          required in
                          order to adapt it to the Lessee’s undertakings. The Lessee declares and
                          undertakes that the right of review of the Contractor regarding
                          the
                          insurance policy and his right to instruct the amending
                          of the Property
                          Insurance Policies, as specified above, does not impose
                          any duty or any
                          obligation or any liability on the Contractor or anyone
                          on its behalf
                          regarding the said policy, its nature, scope and validity,
                          or with respect
                          of the lack thereof and such shall not delegate from any
                          other duty
                          imposed upon the Lessee under this Contract and under law.

                         

                      

              

              
              

               

              
                
                  
                  

                

                
                  
                  

                  
                    

                  

                

                
                  
                  

                

              

              
                	
                        1.7

                      	
                        The
                          Contractor undertakes, by itself or through the Management
                          Company, to
                          procure the insurance policies as specified below in this
                          section (which
                          shall hereinafter be referred to as: “The
                          Management Company Insurance Policies”)
                          with a duly certified and reputable insurance company in
                          Israel,
                          throughout Lease Term.

                         

                      

              

              
                	
                        1.7.1

                      	
                        Insurance
                          for the Building and equipment serving the Building, against
                          loss or
                          damage due to risks of fire, smoke, lightning, explosion,
                          earthquakes,
                          tempests and storms, floods, damage from liquids and bursting
                          of pipes,
                          damage from impact, damage by aircraft, rioting, strikes
                          and malicious
                          damage as well as against additional damage which is required
                          in the
                          opinion of the Management Company.

                         

                      

              

              
                	 	
                        The
                          said insurance shall include a clause regarding the waiver
                          of the rights
                          of subrogation towards the owners and holders of properties
                          as well as
                          those employed by them for damage caused by them provided
                          that that stated
                          regarding the waiver of the right of subrogation shall
                          not apply in favor
                          of a person who has maliciously caused the damage. For
                          the purpose of this
                          section, the term “Building” shall include all the systems which
                          constitute an integral part of the Building and shall expressly
                          not
                          include the contents of the properties and any addition,
                          improvement or
                          extension carried out in the properties by or for the lessees
                          (which has
                          not been done by the Contractor).

                         

                      

              

              
                	
                        1.7.2

                      	
                        Third
                          party liability insurance insuring the liability of the
                          Contractor, the
                          Management Company and the Lessee for any harm or damage
                          to a body and/or
                          property of any person and/or any entity whatsoever within
                          the confines of
                          the public areas in the Project, to a limit of liability
                          which shall not
                          be less than a total of $5,000,000 (five million United
                          States Dollars)
                          per incident and accumulating throughout one insurance
                          year. This
                          insurance shall not be subject to any limitation regarding
                          liability
                          arising from fire, explosion, panic, hoisting equipment,
                          loading and
                          offloading, defective sanitary instruments, poisoning,
                          any damaging food
                          stuff or drink, liability towards and due to contractors,
                          subcontractors
                          and their employees, strikes and go slow strikes as well
                          as subrogation
                          claims on the part of the National Insurance Institute.
                          The insurance
                          shall include a cross liability clause according to which
                          the insurance
                          shall be considered as procured for each one of the individuals
                          comprising
                          the insured parties separately.

                         

                      

              

              
              

               

              
                
                  
                  

                

                
                  
                  

                  
                    

                  

                

                
                  
                  

                

              

              
                	
                        1.7.3

                      	
                        Employers’
                          liability insurance insuring the Contractor’s liability and the liability
                          of the Management Company towards those employed by it
                          for personal injury
                          or illness due to their employment, to a limit of liability
                          of $5,000,000
                          (five million United States Dollars) per claimant per incident
                          and
                          accumulative through the course of one insurance year.
                          This insurance
                          shall not include any limitation regarding liability towards
                          contractors,
                          subcontractors and their employees, guard workers, baits
                          and poisons and
                          anything regarding the employment of youth. 

                         

                      

              

              
                	
                        1.8

                      	
                        The
                          Contractor or the Management Company, accordingly, undertake
                          to update the
                          insurance amount for the insurance policies procured by
                          them, from time to
                          time, so that such can always fully reflect the value of
                          the property
                          insured thereunder. 

                         

                      

              

              
                	
                        1.9

                      	
                        The
                          Lessee shall bear the relative cost of the insurance premiums
                          of the
                          Management Company and shall pay such to the Management
                          Company once a
                          year in advance. Notwithstanding that stipulated from subsection
                          1.7
                          above, the Contractor or the Management Company, accordingly,
                          shall be
                          entitled, in the event of insurance not being procured
                          by the Management
                          Company, as defined above, to demand that the Lessee procure
                          the said
                          insurance policies for its relative share in the Building.

                         

                      

              

              
                	
                        1.10

                      	
                        The
                          Management Company undertakes to insure itself against
                          loss of Management
                          Fees (Hereinafter: “The
                          Management Fees Insurance”)
                          due to damage caused to the Property or due to the destruction
                          of the
                          Property due to the risks in Section 1.7. The said insurance
                          shall include
                          an express clause regarding the waiver of the right of
                          subrogation towards
                          the Lessee and/or those employed by it, provided that that
                          stated therein
                          regarding the waiver of the right of subrogation shall
                          not apply to
                          someone who has maliciously caused the damage.

                         

                      

              

              
              

               

              
                
                  
                  

                

                
                  
                  

                  
                    

                  

                

                
                  
                  

                

              

              
                	 	
                        The
                          Lessee undertakes to pay the Management Company the relative
                          share of the
                          above mentioned Management Fees for the period of up to
                          one year in
                          advance, within 30 (thirty) days from the date it is demanded
                          to do so. In
                          such a case, where the Lessee has constantly paid its share
                          of the
                          premiums in full and by the due dates, the Lessee shall
                          be exempt from the
                          payment of the Management Fees in those cases for that
                          period and to the
                          same extent the Insurance Company shall pay the Management
                          Fees.

                      

              

              

              (signed)
                The Contractor

              

              (signed)
                The Lessee

              

              (signed)
                The Management Company

              

              
                
                  
                  

                

                
                  
                  

                  
                    

                  

                

                
                  
                  

                

                
                   

                  Final
                    Draft

                   

                  CONTRACT
                    FOR THE AMENDMENT OF THE LEASE TERMS AND CONDITIONS

                   

                  (Unprotected
                    Lease)

                   

                   

                  Made
                    and
                    Entered into Rechovot on the ____________________ of April 2004

                  

                  -
                    BETWEEN
                    -

                  

                  
                    	
                          	1.	
                            Rorberg
                              Contractors and Investors (1963)
                              Ltd.

                          

                  

                  A
                    Private
                    Registered Company Number 51 - 041126 - 7

                  
                    	
                          	2.	
                            Tazor
                              Development Ltd.

                          

                  

                  A
                    Private
                    Registered Company Number 51 - 196 01 -1

                  Whose
                    address for the purpose of this Contract is care of

                  Rorberg
                    Contractors and Investors (1963) Ltd

                  Of
                    9
                    Bonei Hair Street, Tel Aviv

                  Both,
                    herein referred to, jointly severally

                  (Hereinafter(“The
                    Contractor”
                    )

                  The
                    First Party

                  -
                    AND BETWEEN -

                  

                  Rosetta
                    Genomics Ltd.

                  Private
                    Registered Company 5 192 138 8 

                  Whose
                    address for the purpose of this Contract is at

                  10
                    Flaut
                    Street, Rabin Park, Rechovot.

                  (Hereinafter:
                    “The
                    Lessee”)

                  The
                    Second Party

                  

                  

                  Whereas: 

                  

                  
                    	A.	
                            The
                              Lessee rents, under an unprotected lease, the area
                              from a Contractor on
                              the third floor above the ground floor and gallery
                              of a “building” known
                              as building “Madiim 1”at the “T.M.R. Yitzhak Rabin Park”, in Rechovot, as
                              well as five uncovered parking places (hereinafter,
                              generally:
                              “New
                              Property”,
                              and all as specified and detailed in the contract of
                              Lease signed between
                              the two parties on 4.8.2003 (hereinafter: “The
                              Main Contract”)
                              ;

                          

                  

                  

                  
                    	B.	
                            The
                              Lease Period under the Main Contract is expected to
                              end on
                              31.7.2005;

                          

                  

                  

                  
                    
                      
                      

                    

                    
                      
                      

                      
                        

                      

                    

                    
                      
                      

                    

                  

                  
                    	C.	
                            The
                              parties interested in extending the Lease Term for
                              an additional one year,
                              up until 31.7.2006 under the pursuant to the terms
                              and conditions as
                              specified in this Contract below;

                          

                  

                  

                  
                    	D.	
                            Furthermore,
                              the Contractor agrees to grant the Lessee an option
                              to fence off an area
                              adjacent to the Property and delineated with a red
                              line in the attached
                              sketch, attached as Appendix
                              A.
                              (hereinafter: “the Additional
                              Area”),
                              pursuant to the terms and conditions in this Contract
                              below.

                          

                  

                  

                  Therefore
                    it s Agreed, Declared and Stipulated between the Parties as Follows:
                    

                  

                  
                    	
                            1.

                          	
                            The
                              preamble to this Contract constitutes an integral and
                              inseparable part
                              thereof. 

                          

                  

                  

                  
                    	
                            2.

                          	
                            The
                              Lease Term between the parties is hereby extended by
                              one year, that is to
                              say commencing from the first of August 2005, and ending
                              on the
                              31st
                              of
                              July 2006 (hereinafter: “The
                              Extended The Lease Term”)

                          

                  

                  

                  
                    	3.	3.1.	
                            The
                              monthly rental payments for the Property for the Extended
                              Lease Term shall
                              be in the amount of N.I.S. 22,922 (inclusive of V.A.T.),
                              linked to the
                              Index at the date of the signing of the Main
                              Contract.

                          

                  

                  

                  “Index”
                    For
                    the
                    purpose of this Contract shall mean the - the price index known
                    as the consumer
                    price index published by the Central Bureau of the Statistics
                    or any other
                    official index replacing it.

                  

                  “Linked
                    to the index on the date of the signing of the Main
                    Contract”
for
                    the
                    purpose of this Contact shall mean - that if on the actual date
                    of payment the
                    known index (hereinafter: “The
                    New Index”)
                    is
                    higher than the index that was known at the date of the signing
                    of the Main
                    Contract, (that is to say the index for the month of June 2003,
                    published on the
                    15.7.2003; (hereinafter: “The Basic
                    Index”),
                    the
                    amount for payment shall be increased in accordance with the
                    same proportion as
                    the difference between the New Index and the Basic Index.

                  

                  
                    
                      
                      

                    

                    
                      
                      

                      
                        

                      

                    

                    
                      
                      

                    

                  

                  
                    	
                            3.2.

                          	
                            The
                              monthly rental payments as stated in Sub Section 3.1
                              above shall be paid
                              in advance at the dates stipulated in Sub Section 3.3.2.
                              of the Main
                              Contract.

                          

                  

                  

                  
                    	
                            3.3.

                          	
                            In
                              order to ease the collection of the rental payments
                              as stipulated in Sub
                              Section 3.1 above, the Lessee shall, at the time of
                              the signing of the
                              Contract, deliver cheques to the Contractor on account
                              of the payment of
                              future rental payments for the entire Extended Lease
                              Term. The said
                              cheques shall be made out to the payment dates as stated
                              in Sub Section
                              3.2. above. Once every quarter, or for a lengthier
                              period, at the election
                              of the Contractor, the Contractor shall carry out accounting
                              of the rental
                              payment differences arising from the changes to the
                              Consumer Price Index
                              from the delivery date of the cheques as stated above
                              and the payment date
                              and these said differences shall be paid to the Contractor
                              within seven
                              days of the Contractor’s demand.

                          

                  

                  

                  
                    	
                            4.

                          	
                            The
                              Contractor hereby grants the Lessee and the Lessee
                              hereby receives from
                              the Contractor, an option to add to the fencing off
                              an additional area of
                              the Property, starting from the date which shall be
                              no later than
                              15.8.2004 and up until the end of Extended Lease Term
                              as stipulated in
                              Section 2 above, pursuant to the terms and conditions
                              stipulated
                              below.

                          

                  

                  

                  
                    	
                            5.

                          	
                            In
                              consideration for the option granted to it under this
                              Contract the Lessee
                              shall pay the Contractor, at the time of the signing
                              of this Contract an
                              amount equivalent of New Israel Shekels to $2,100 plus
                              V.A.T. which shall
                              not be returned to the Lessee under any circumstances,
                              regardless of
                              whether it decides to exercise the new option or
                              not.

                          

                  

                  

                  
                    	
                            6.

                          	
                            The
                              realization of the option shall by the granting of
                              written notice which
                              shall be delivered to the Contractor by the Lessee
                              by no later than the
                              15.8.2004, and in which the Lessee has stipulated the
                              date at which it
                              shall commence to add to the fencing off of the Additional
                              Area of the
                              Property, a date that shall be no later than 15.8.2004
                              (hereinafter:
                              “The
                              Delivery Date of the additional Area”).

                          

                  

                  

                  
                    
                      
                      

                    

                    
                      
                      

                      
                        

                      

                    

                    
                      
                      

                    

                  

                  It
                    is
                    agreed that the Additional Area to be added to the Fencing off
                    of the Property
                    commencing shall commence from the delivery date of the Additional
                    Area.

                  

                  
                    	7.	7.1.	
                            Where
                              the option has been realized the Lessee shall pay the
                              Contractor for the
                              Lease Term commencing from the Delivery Date of Additional
                              Property up
                              until the end of the .Term, additional monthly rental
                              payments to those as
                              determined in the Main Contract, and Sub Section 3.1
                              of this Contract,
                              accordingly, in the amount of New Israel Shequels equivalent
                              to $1,561
                              plus V.A.T. linked to the Consumer Price Index on the
                              date of the signing
                              of the main Contract (hereinafter: “The
                              Additional Rental Payments”).

                          

                  

                  

                  Notwithstanding
                    the above said, it is agreed that the Additional Rental Payments
                    for the period
                    from the delivery date of the Additional Area and for a period,
                    the length of
                    which will be the equivalent to half of the period between the
                    delivery date of
                    the Additional Area and the fifteenth of August, 2004 but not
                    less than thirty
                    days, shall be in the amount of N.I.S. 1 only.

                  

                  
                    	
                            7.2.

                          	
                            The
                              Additional Rental Payments shall be paid by the Lessee
                              in advance, in the
                              following instalments:

                          

                  

                  

                  
                    	
                            7.2.1.

                          	
                            The
                              Additional Rental Payments for the period from the
                              delivery date for the
                              realization of the option and up until the 31st
                              of
                              October, 2004 shall be paid at the delivery date of
                              the said notice for
                              the realisation of the option.

                          

                  

                  

                  
                    	
                            7.2.2.

                          	
                            For
                              the balance of the Lease Term (i.e. for the period
                              commencing from the
                              1.11.2004 and up until the 31.7.2006) Additional Rental
                              Payments shall be
                              paid for every two months in advance together with
                              the Rental Payments
                              pursuant to the Main Contract on the first of the following
                              months:
                              November, January, March, May, July and September accordingly.
                              However,
                              the last payment shall be for the period from the payment
                              as said above
                              and up until the end of the Lease Term.

                          

                  

                  

                  
                    
                      
                      

                    

                    
                      
                      

                      
                        

                      

                    

                    
                      
                      

                    

                  

                  
                    	
                            7.3.

                          	
                            In
                              order to ease the collection of the Additional Rental
                              Payments, the Lessee
                              shall deliver to the Contractor, together with the
                              notice of the
                              realization of the option, cheques on account of the
                              future Additional
                              Rental Payments up until the end of the Extended Lease
                              Terms. The said
                              cheques shall stipulate the set payment dates as stated
                              in sub section of
                              7.2.2. above. Once every quarter, or for a lengthier
                              period, at the
                              election of the Contractor, an account shall be made
                              of the difference for
                              the Rental Payments arising from changes to the Consumer
                              Price Index from
                              between the delivery date of the cheques as stated
                              above and the payment
                              date and the said differences shall be paid to the
                              Contractor within seven
                              days of the Contractor’s demand.

                          

                  

                  

                  
                    	
                            8.

                          	
                            The
                              parties agree in advance that the Lessee shall be entitled
                              to execute the
                              internal works Additional Area in order to lease it
                              out for lease purposes
                              and that it shall do so at the expense of the Lessee
                              and the Lessee’s
                              exclusive liability, provided that it delivers the
                              execution plans to the
                              Contractor for those works prior to the actual execution
                              of the works and
                              that the Contractor has approved the plans for the
                              execution. The
                              Contractor undertakes not to refuse the execution of
                              the works in
                              accordance with the plans to be provided to it as stated
                              by the Lessee
                              unless this concerns works which are likely to harm
                              the building and/or
                              its systems and and/or the outer appearance of the
                              building.

                          

                  

                  

                  
                    	 	
                            Similarly,
                              the Contractor undertakes to take into consideration
                              the Additional Area
                              in an amount up to the sum of the equivalent of N.I.S.
                              3,5000 dollars,
                              pursuant to the written request of the Lessee and against
                              receipt of a
                              duly issued tax invoice be issued to be made out to
                              it under the
                              responsibility of the Lessee after the execution of
                              the
                              works.

                          

                  

                  

                  
                    
                      
                      

                    

                    
                      
                      

                      
                        

                      

                    

                    
                      
                      

                    

                  

                  
                    	 	
                            The
                              payments will be carried out within fourteen days within
                              the receiving of
                              the said invoice.

                          

                  

                  

                  
                    	
                            9.

                          	
                            The
                              securities provided by the Lessee to secure its undertakings
                              under the
                              Contract also serve as securities for its undertakings
                              under this
                              Contract. 

                          

                  

                  

                  
                    	
                            10.

                          	
                            This
                              Contract shall be interpreted, for all intents and
                              purposes, as if it was
                              a part of the Main Contract, save for the necessary
                              changes vis-à-vis that
                              stipulated in this Contract, that provisions of the
                              Main Contract shall
                              apply to the parties without exception, also
                              with respect of this Contract.

                          

                  

                   

                   

                  And
                    In Witness Of Parties Set At The Above Stipulated Date

                   

                   

                  The
                    Contractor

                   

                   

                  The
                    Lessee 

                   

                  
                    
                      
                      

                    

                    
                      
                      

                      
                        

                      

                    

                    
                      
                      

                    

                  

                

              

            

          

        

      

    

    Contract
      of Lease

    (Unprotected
      Tenancy)

     

    Final
      Draft

     

    Made
      and
      Entered into in Rehovot on the 9th
      of April
      2006 

    -
      BETWEEN
      -

    

    
      	
            	1.	
              Rorberg
                Contractors and Investors (1963)
                Ltd.

            

    

    A
      Private
      Registered Company Number 51 - 041126 - 7

    
      	
            	2.	
              Tazor
                Development Ltd.

            

    

    A
      Private
      Registered Company Number 51 - 196 01 -1

    Whose
      address for the purpose of this Contract is care of

    Rorberg
      Contractors and Investors (1963) Ltd

    Of
      9
      Bonei Hair Street, Tel Aviv

    Both,
      herein referred to, jointly severally

    (Hereinafter(“The
      Contractor”
      )

    The
      First Party

    -
      AND BETWEEN -

    

    Rosetta
      Genomics Ltd.

    Private
      Registered Company 5 192 138 8 

    Whose
      address for the purpose of this Contract is at

    10
      Flaut
      Street, Rabin Park, Rechovot.

    (Hereinafter:
      “The
      Lessee”)

    The
      Second Party

    

    

    
      	And
              Whereas	
              Lease
                relations prevail between the parties in connection with areas on
                the
                third floor above the ground floor and gallery of the building known
                as
                known
                as building “Madiim 1” at the “T.M.R. Yitzhak Rabin Park”, in Rechovot,
                (hereinafter: "The
                Building"
                or
                "The
                Project")
                as
                well as six parking places in
                the courtyard of the Building leased by the Lessee from the Contractor
                and
                all pursuant to the following contracts: An agreement of lease signed
                between the parties on 4.8.2003; A contract to alter the terms and
                conditions of lease signed between the parties in April 2004; A contract
                to add areas to the Leased premises on 13.3.2005; and A contract
                to
                allocate additional parking areas dated 28.3.2005 (hereinafter, generally
                and respectively referred to as: "The
                Original properties"
                and "The
                Original Contracts");

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	And
              Whereas	
              The
                Lessee is interested in leasing an additional area in the Building
                from
                the Contractor and the Contractor is interested in leasing out Additional
                Area, on the second floor above the ground floor and gallery, delineated
                in a red line in the plans attached to this Contract as Appendix
                A1
                (hereinafter: “The
                Unit”)
                and also an additional parking area in the courtyard of the Building
                marked with the number 55 in the plans attached to this Contract
                as
                Appendix
                2A (hereinafter:"
                The
                Parking");

            

    

     

    
      	And
              Whereas	
              The
                area of the Unit for the purposes of this Contract is 435m2
                and
                it shall be measured by the parties shortly after the erection of
                the
                divider (As stipulated in section 3.2 below) in accordance with the
                following measurement principles: The Unit area for this purpose
                is the
                net area of the Unit multiplied by a factor of 1.2 for the public
                areas.
                The net Unit area is the floor area of the Unit, including beneath
                the
                pillars and walls included within the Unit, including the external
                walls
                bordering the Unit; Notwithstanding the above said, only half the
                area
                beneath the separating dividers between the Unit and the neighbouring
                units is taken into account;

            

    

     

    
      	And
              Whereas	
              The
                parties are interested in defining the terms and conditions of undertaking
                between them in connection with the property and all in accordance
                with
                the terms and conditions of this
                Contract.

            

    

    

    Therefore
      it s Agreed, Declared and Stipulated between the Parties as Follows:

    

    
      	
              1.

            	
              The
                preamble to this Contract constitutes an integral and inseparable
                part
                thereof. 

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              2.

            	
              The
                Lease Term

            

    

     

    
      	
            	2.1	
              The
                Lease Term of the Unit is hereby determined for period commencing
                from the
                date of the end of the Works as stated in Section 3 below and up
                until
                31.12.2008 (Hereinafter: “The
                Lease Term”).
                Notwithstanding the above said, the Lease Term for the parking shall
                commence already a the signing date of this
                Contract.

            

    

     

    
      	
            	2.2	
              The
                Lessee shall not be entitled to terminate the lease under this contract
                before the end of the Lease Term. If the Lessee stops using the Unit
                and/or if it vacates the Unit before the end of the Lease Term, such
                shall
                not release the Lessee from the fulfillment of its obligations under
                this
                Contract, including its obligation to pay Rental Payments to the
                Contractor up until the end of the Lease Term.

            

    

     

    
      	
            	2.3	
              At
                the end of the Lease Term, or upon the legal cancellation of this
                Contract, the Lessee undertakes to vacate the Unit and to return
                possession thereof to the Contractor with the Unit being clean, tidy
                and
                in a fit state and free of any person and object belonging to the
                Lessee.
                

            

    

     

    The
      provisions of this section are fundamental provisions of the Contract and the
      breach thereof, or the breach of anyone of the provisions shall be considered
      as
      a fundamental breach of the Contract.

     

    
      	
              3.

            	
              Delivery
                of Possession and execution of Works to Adapt the Leased Premises
                to the
                lessee's Needs

            

    

     

    
      	
            	3.1	
              The
                Contractor hereby undertakes to deliver position of the Unit to the
                Lessee
                immediately after the providing of the checks on account of the Rental
                Payments as stated in subsection 4.3 and subsection 4.4 below and
                the
                providing of the guarantees as stipulated in subsection 5.2 below,
                As
                Is
                at
                the time of the signing of this Contract (Hereinafter: “The
                Delivery Date”).

            

    

     

    The
      above
      said shall not delegate from the undertakings of the Contractor as stipulated
      in
      subsection 3.2 below. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
            	3.2	
              The
                Contractor undertakes to execute the following works (hereinafter:
                "The
                Works")
                in
                the Property and to do so by the Delivery
                Date:

            

    

     

    
      	
            	(a)	
              To
                erect a divider outlining the Unit a specified in the plans - Appendix
                A -
                because of the location of the systems in the Unit and in the adjacent
                area to the Unit and marked in the plans attached as Appendix A1
                of this
                Contract (hereinafter: "The
                Additional Unit")
                the divider must be erected at a location different to that as marked
                in
                the plans, the Contractor shall be entitled to erect the divider
                according
                to the requirements on the ground, provided that such does not alter
                the
                overall area of he Unit in an extent exceeding 10 m2.
                Where change is required exceeding 10 m2,
                the Contractor shall co-ordinate such change with the
                Lessee;

            

    

     

    
      	
            	(b)	
              To
                replace the PVC, wherever located in the Property with carpets in
                accordance with the accepted standards of the Contractor, in all
                those
                areas in the Unit where the carpet (sic) is not fit, with carpets
                acceptable with the accepted standards of the
                contractor.

            

    

     

    
      
        	
              	(c)	
                To
                  separate between the electricity, water and piping systems of the
                  Unit,
                  from that of the additional Unit. It
                  is clarified that the separation of the electricity system may
                  possibly be
                  done by the installation of a secondary electricity
                  meter.

              

      

    

     

    Notwithstanding
      the above said, it is expressly agreed that a delay in the execution of the
      above mentioned Works for reasons which are not under the Contractor's control
      shall not be considered as a delay for the purposes of this
      Contract.

     

    
      	
            	3.3	
              The
                Contractor undertakes to attend to the problem of the radiation in
                the
                Original Property by the erecting of plaster walls, containing therein
                lead sheeting, and glass wool insulation or by any other accepted
                means
                and all within thirty 30) days from the date of the signing of this
                Contract. Should it transpire that notwithstanding the above said,
                the
                radiation problem has not been solved, to the Lessee's satisfaction,
                the
                area marked in the plans attached to this Contract as Appendix B
                shall be
                deducted from the Unit area and the Lessee shall stop using it. Where
                this
                area has been deducted from the Original unit and the Lessee has
                stopped
                using it, the original Rental Payment shall be deducted commencing
                from
                that date in an amount equivalent to the multiplication of the Rental
                Payment for the original unit by the proportion of the said deducted
                area,
                divided by the area of the Original
                Unit.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    "The
      Original Unit for this purpose shall be the area of the Unit as defined in
      the
      original Contract.

     

    
      	
            	3.4	
              Should
                the Lessee notify the Contractor that there is a radiation problem
                in the
                Unit, the provisions of Section 3.3 above shall apply, mutatis
                mutandis
                vis-à-vis the Unit, from the date of the filing of the written notice
                by
                the Lessee.

            

    

     

    
      	
            	3.5	
              Lessee
                shall be entitled to execute internal works in the Unit in order
                to
                prepare such for lease and shall do so at its expense and exclusive
                responsibility, provided that it issues the Contractor with the work
                plans
                prior to the execution of the said woks and the Contractor has approved
                them for execution. The Contractor undertakes not to refuse to approve
                the
                execution of the works in accordance with the plans submitted to
                it by the
                Lessee, as stated, unless this concerns works which may harm the
                Building
                and/or its systems and/or the Building
                façade.

            

    

     

    
      	
              4.

            	
              Rental
                Payments

            

    

     

    
      	
            	4.1	
              The
                monthly Rental Payments for the Unit are hereby set in the amount
                of the
                multiplication of 41.43 of the Unit area, plus VAT as required by
                law
                linked to the Index at the date of the signing of this Contract.
                

            

    

     

    The
      monthly Rental Payments for the Parking are hereby set in the amount of NIS
      230,
      plus VAT as required by law, linked t the Index at the date of the signing
      of
      this Contract.

     

    
      	
            	4.2	
              “Index”
                -
                For the purpose of this Contract shall mean the - the price index
                known as
                the consumer price index published by the Central Bureau of the Statistics
                or any other official index replacing
                it.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    “Linked
      to the index on the date of the signing of the Main
      Contract”
for
      the
      purpose of this Contact shall mean - that if on the actual date of payment
      the
      known index (hereinafter: “The
      New Index”)
      is
      higher than the index that was known at the date of signing of the Main
      Contract, (that is to say the index for the month of June 2003, published on
      the
      15.7.2003; (hereinafter: “The Basic
      Index”),
      the
      amount for payment shall be increased in accordance with the same proportion
      as
      the difference between the New Index and the Basic Index.

     

    
      	
            	4.3	
              The
                monthly Rental Payments shall e paid in advance at the following
                dates:

            

    

     

    
      	
            	4.3.1	
              Within
                seven (7) days of the date of the signing of this Contract the Rental
                Payments for the Parking shall be paid for the lease Term up until
                30.6.2006.

            

    

     

    
      	
            	4.3.2	
              Within
                seven (7) days of the date of the Delivery of Possession in the Unit
                the
                Rental Payments for the Unit shall be paid for the lease Term up
                until
                30.6.2006

            

    

     

    
      	
            	4.3.3	
              For
                the balance of the Lease term (i.e. for the period from 1.7.2006)
                Rental
                Payments shall be made for every two months in advance on the
                1st
                of: January, March, May, July, September and November every year,
                accordingly, however the last payment shall be for the period from
                the
                above said payment date until the end of the lease
                Term.

            

    

     

    
      	
            	4.4	
              In
                order to ease the collection of the Rental Payments, the Lessee shall
                deposit, within seven (7) days of the Delivery of Possession, cheques
                with
                the Contractor on account of the future Rental Payments to be paid
                up
                until the end of the following calendar year (2007) and shall redeposit
                such by no later than the 1st of November of every year (starting
                from
                1.11.2007) for the following calendar
                year.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    The
      said
      cheques shall stipulate the set payment dates as stated in sub section of 4.3
      above. Once every quarter, or for a lengthier period, at the election of the
      Contractor, an account shall be made of the difference for the Rental Payments
      arising from changes to the Consumer Price Index from between the delivery
      date
      of the cheques as stated above and the payment date and the said differences
      shall be paid to the Contractor within seven days of the Contractor’s demand. In
      order to alleviate doubt it is hereby clarified that the Contractor shall be
      entitled to present the cheques mentioned at the heading of this sub section
      for
      payment by the due dates, however only payment of the cheques and the Rental
      Payment differences plus VAT, where required, as stipulated in this Contract,
      shall be considered as full payment of the Rental Payments.

     

    
      	
            	4.5	
              It
                is hereby agreed that until another instruction is given by the
                Contractor, every payment under this Contract shall be made in tow
                equal
                parts:- One - in favour of Rorberg Contracting and Investments (1963)
                Ltd.
                Into account No. 20767 at Bank Hapoalim Ltd., branch 609 and the
                second in
                favour of Tazor Development Ltd. Into account 13736 at Bank Hapoalim
                Ltd.,
                branch 609.

            

    

     

    
      	
            	4.6	
              The
                Rental Payments stipulated above include VAT at the rate of 16.5%.
                It is
                expressly agreed that if a change occurs to the VAT rate, the Rental
                Payments shall be updated and paid in accordance with the altered
                VAT
                rate. 

            

    

     

    The
      provisions of this section are fundamental provisions of the Contract and the
      breach thereof or the breach of any one of these provisions shall be considered
      as a fundamental breach, however a delay in payment of the Rental Payments
      which
      does not exceed seven days shall not be considered as a fundamental breach.
      

     

    
      	
              5.

            	
              Guarantees

            

    

     

    
      	
            	5.1	
              It
                is agreed that the guarantees given by the Lessee in order to guarantee
                its undertakings under the Original Contracts shall also serve for
                the
                securing of its undertakings under this
                Contract.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
            	5.2	
              In
                addition, the Lessee undertakes, within 7 days of the signing of
                this
                contract and for the securing of the fulfillment of its undertakings
                and
                obligations under this Contract and under the Original Contracts,
                to
                provide the Contractor with the following additional
                guarantees:

            

    

     

    
      	
            	5.2.1	
              An
                autonomous bank guarantee in favour of Rorberg Contracting and Investments
                (1963) Ltd., in an amount of NIS 43,000, linked to the consumer price
                index, commencing from the date of the signing of this Contract,
                and
                redeemable upon demand, similar in wording to the wording of the
                bank
                guarantee delivered to the Contractor under the Original
                Contracts.

            

    

     

    The
      guarantee shall be for the period up until 31.12.2007 and shall be extended
      from
      time to time in such a manner so that the extension of the period and the
      delivery of the document for the extension of the guarantee period to the
      Contractor shall be by no later than 30 days before the last realization date
      of
      the existing guarantee and that the period of the overall guarantee shall be
      up
      to 60 days after the end of the Lease Term. Where the guarantee has not been
      extended as stated, such shall be construed as a breach of the contract, with
      all that such entails.

     

    
      	
            	5.2.2	
              A
                promissory note in the amount of NIS 232,000, linked to the consumer
                price
                index at the date of the signing of this contract, signed by the
                Lessee.

            

    

     

    The
      note
      shall be made out to the deposit of the Contractor and shall be delivered
      without a redemption date.

     

    If
      the
      Lessee does not comply with its undertakings and/or obligations and/or any
      part
      thereof under this Contract, the Lessee shall by gives an irrevocable
      instruction to the Contractor to fill in the redemption date in the note at
      its
      exclusive discretion and to collect its full damages from the exercise amount
      as
      well as any amount owing to the Contractor by the Lessee under any law and
      the
      balance, if any, shall be refunded to the Lessee. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              6.

            	
              Possibilities
                of Expanding into Additional
                Unit

            

    

     

    
      	
            	6.1	
              The
                Contractor hereby declares that it intends to prepare an additional
                Unit,
                for a third party.

            

    

     

    
      	
            	6.2	
              The
                Contractor hereby agrees that should it receive, at any time during
                the
                course of the Lease term, a notice from the Lessee of the Additional
                Unit
                that it is about to vacate the Additional unit, or that the Contractor
                becomes aware of such by other means, that the additional unit s
                about to
                be vacated, the Contractor shall provide notice of such t the Lessee
                shortly thereafter.

            

    

     

    
      	
            	6.3	
              Upon
                receipt of the notice as stated, the Lessee shall notify the Contractor
                whether it is interested in leasing the Additional Unit and should
                an
                affirmative notice be sent, the parties shall conduct negotiations
                in good
                faith and by accepted practices for the leasing of the Additional
                Unit to
                the Lessee before the Contractor conducts negotiations for the leasing
                out
                of the Additional unit with any other third
                party.

            

    

     

    
      	
              7.

            	
              General
                provisions

            

    

     

    
      	
            	7.1	
              Save
                for those changes required due to the said changes in this contract,
                all
                the provisions of the original Contracts, without exception, as
                determining the lease relations between the parties in connection
                with the
                Original properties, including, but not limited to, the matter of
                the
                lease aims;-and in the matter of insuring the property; and in the
                matter
                of the Management Agreement and the payment of Management Fees and
                expenses and additional expenses; shall apply, accordingly, to the
                lease
                relations between the parties to this contact in connection with
                the Unit
                as defined in this Contract.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
            	7.2	
              In
                order to alleviate doubt, the provisions of this Contract, are in
                addition
                to the provisions of the Original Contracts, save for the required
                changes
                due o that as stipulated in this Contract, such shall not change
                any of
                the parties' obligations in connection with the Original properties
                under
                the Original Contracts.

            

    

     

    In
      Witness Whereof the Parties have Set their Hand at the above Stipulated
      Date:

     

    

     

    The
      Contractor (signed)

     

    

     

    The
      Lessee (signed)

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