Document:

Exhibit 10.32

 

LEASE

 

THIS LEASE (“Lease”) is made
and entered into as of the 31st day of December 1999, by and between
TAMARAC RADIATION ASSOCIATES, a Florida general partnership, (“Lessor”) also
known as (“Landlord”) and 21ST CENTURY ONCOLOGY, INC., a Florida corporation, (“Lessee”)
also known as (“Tenant”).

 

W I T N E S S E T H:

 

TERMS

 

Premises. Landlord
hereby demises and leases to Tenant and Tenant hereby hires and rents from
Landlord the Premises upon the terms, covenants and conditions set forth herein,
which Premises has a Floor Area containing the approximate square footage of
                
square feet. The legal description of the property located at 7850 North University
Drive, Tamarac, Florida is attached as Exhibit “A”.

 

Use. The Premises
are to be used for a radiation therapy clinic and radiation treatment center
and medical offices.

 

Commencement of Term. The
commencement of the Term of this Lease under which Tenant shall be obligated to
commence payment of Minimum Rent and Additional Rent shall be the Rent
Commencement Date, January 1, 2000.

 

Length of the Term. The term of
this lease period is for ten (10) years starting on January 1, 2000
and ending on December 31, 2009.

 

RENT

 

Rent. Minimum Rent
shall be $11,250.00 per month plus Florida sales tax. Tenant shall pay to
Landlord without previous demand thereof and without any abatement, reduction,
setoff or deduction whatsoever, the Minimum Rent (together with any applicable
sales tax and local taxes if the same are ever required by law), payable in
equal monthly installments, in advance, on the first day of each and every
calendar month throughout the Term of this Lease. The Minimum Rent shall
commence to accrue on the Commencement Date. The first such monthly
installments of Minimum Rent shall be due and payable to Landlord no later than
the Commencement Date and each subsequent monthly installment shall be due and
payable to Landlord on the first day of each and every month following the
Commencement Date during the Term hereof. If the Commencement Date is a date
other than the first day of the month, Minimum Rent and

 

 

other charges for the period
commencing with and including the Commencement Date through the first day of
the following month shall be prorated at the rate of one-thirtieth (1/30) of
the monthly Minimum Rent per day.

 

In addition, monthly
payments will be made of the real estate taxes, real estate assessments and
insurance on the property. This amount will be of 1/12 of the bill for real
estate and assessment taxes and 1/12 of the bill on insurance. Estimated
figures for taxes and insurance monthly rate will be produced within ten (10) days
after the signing of this Lease. Each year Landlord will produce any insurance,
real estate tax and assessment bills to the Tenant to show how the estimated
taxes and insurance were computed as additional rent. This will be Additional
Rent. Florida sales tax will be paid on the Additional Rent.

 

(2a) There will be an
increase in the Minimum Rent starting on the first anniversary of the lease if
the Consumer Price Index increases. On January 1, 2001, the minimum rent
specified in this lease shall be subject to increase in accordance with changes
in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W)
as promulgated by the Bureau of Labor Statistics of the United States
Department of Labor, using the year 1998 as a base of 100. On each anniversary
date their will be a rent adjustment based on the percentage increase in the
Consumer Price Index. The minimum will never be less than $11,250.00. If the
Consumer Price Index goes down the rent will not change for that year. Consumer
Price Index increases will apply on the anniversary date of each year of the
lease term or renewal term. The percentage increase in the Consumer Price Index
will increase the minium rent for that year.

 

(2b) In the event that the
Consumer Price Index ceases to incorporate significant number of items, or if a
substantial change is made in the method of establishing such Consumer Price
Index shall be adjusted to the figure that would have resulted had no change
occurred in the manner of computing such Consumer Price Index, or a successor
or substitute index, is not available, a reliable governmental or other
nonpartisan publication, evaluating the information for use in determining the
Consumer Price Index, shall be used in lieu of such Consumer Price Index.

 

(3) The annual minium
Rent is $135,000.00 for each year, unless changed by the increase in the
Consumer Price Index.

 

(4) Any increase in the
Consumer Price Index after the first year of the Lease and every year
thereafter will be added to the Minimum Rent.

 

(5) Real Estate tax and
insurance will be included as Additional Rent each and every month. 1/12 of
real estate tax bill and assessments and 1/12 per month of the insurance bill
will be added as Additional Rent each and every month. This must also include
sales tax.

 

Late Charge. Tenant shall
pay to Landlord a late charge equal to five percent (5%) of the monthly payment
of Minimum Rent, Additional Rent and any other payment or charge due hereunder
if any such amount is received by Landlord more than five (5) days

 

2

 

after the same shall be due,
such amount being the agreed upon liquidated damages solely to defray the
additional administrative expenses incurred by Landlord in processing such
payment.

 

Interest on Past Due Rent. If Tenant
shall fail to pay, when the same is due and payable, Minimum Rent, or
Additional Rent, such unpaid amounts shall bear interest from the due date
thereof to the date of payment, at the prime interest rate of the Chase
Manhattan Bank, N.A. as of such due date, plus three percent (3%) (“Default
Date”).

 

Definition of Rent. The term “Rent”
shall refer collectively to Minimum Rent and Additional Rent. The term “Additional
Rent” is sometimes used herein to refer to any and all other sums payable by
Tenant hereunder, including, but not limited to, parking charges and sums
payable on account of default by Tenant. All Rent shall be paid by Tenant
without offset, demand or other credit, and shall be payable only in lawful
money of the United States of America which shall be legal tender in payment of
all debts and dues, public and private, at the time of payment. All sums payable
by Tenant hereunder by check shall be obtained against a financial institution
located in the United States of America. The rent shall be paid by Tenant to
Radiation Therapy Services, Inc. at 2234 Colonial Blvd., Fort Myers,
Florida 33907.

 

Rent Taxes. In addition
to Minimum Rent and Additional Rent, Tenant shall and hereby agrees to pay to
Landlord each month a sum equal to any sales tax, tax on rentals and any other
similar charges now existing or hereafter imposed, based upon the privilege of
leasing the space leased hereunder or based upon the amount of rent collected
therefor.

 

NET
LEASE

 

Net Lease. This Lease
shall be deemed and construed to be a net-net Lease and, except as herein
otherwise expressly provided, the Landlord shall receive the fixed Minimum Rent
and Additional Rent and all other payments hereunder to be made by the Tenant
absolutely free from any charges, assessments, imposition, expenses or
deductions of any kind and every kind or nature whatsoever. Tenant is to pay
for all real estate tax and assessments on any and all taxes of any type of
nature. Tenant is to pay for all insurance and any and all costs for repairs,
replacements, maintenance and improvements. Tenant also is responsible for:

 

1) To pay for Parking lot
repairs, maintenance and replacements.

2) To pay for and install
outside and inside lighting for parking.

3) To pay for any security,
pest control or contracts for air conditioner and cleaning services, etc.
Copies of any and all contracts shall be furnished to the Landlord.

 

3

 

OPTION
TO RENEW

 

Option to renew. Provided that
tenant is not, and at no time has been, in default during the Term under any of
the covenants, terms, conditions, and provisions of this Lease, then Tenant
shall have the option to renew this Lease, for two separate five (5) year
option periods, provided that, in order to exercise this Option to Renew,
Tenant is required to give to Landlord written notice thereof not less than six
(6) months before the date of expiration of the Term of this Lease or
during any option period. Any renewal pursuant to this Option shall be on the
same terms and conditions as are contained in this Lease.

 

INSURANCE
AND INDEMNITY

 

Liability Insurance. Tenant shall,
during the entire term hereof, keep in full force and effect bodily injury and
public liability insurance in an amount not less than FIVE HUNDRED THOUSAND
DOLLARS ($500,000) / ONE MILLION DOLLARS ($1,000,000) per injury and accident,
respectively; property damage insurance in an amount not less than ONE HUNDRED
THOUSAND DOLLARS ($100,000); and worker’s compensation insurance in the maximum
amount permitted under Florida law. Landlord may require such insurance
coverage to be increased after the first five years of the term of this Lease,
provided that such increase shall not cause the required limits of coverage to
exceed those then commonly prevailing in the marketplace for similar
situations. The policy(s) shall name Landlord, any person, firms or
corporations designated by Landlord, and Tenant as insured, and shall contain a
clause that the insurer will not cancel or change the insurance without first
giving the Landlord twenty (20) days prior notice. The insurance shall be in an
insurance company licensed by the State of Florida and a copy of the policy or
a certificate of insurance shall be delivered to Landlord prior to the
commencement of the term of this Lease. In no event shall the limits of said
insurance policies be considered as limiting the liability of Tenant under this
Lease. In the event that Tenant shall fail to obtain or maintain in full force
and effect any insurance coverage required to be obtained by Tenant under this
Lease, Landlord may procure same from insurance carriers as Landlord may deem
proper, irrespective that a lesser premium for such insurance coverage may have
been obtained from another insurance carrier, and Tenant shall pay as
additional rent, upon demand of Landlord, any and all premiums, costs, charges
and expenses incurred or expended by Landlord in obtaining such insurance.
Notwithstanding shall procure insurance coverage required of Tenant hereunder,
Landlord shall in no manner be liable to Tenant for any insufficiency or
failure of coverage with regard to such insurance or any loss to Tenant
occasioned thereby, and additionally, the procurement of such insurance by
Landlord shall not

 

4

 

relieve Tenant of its
obligations under this Lease to maintain insurance coverage in the types and
amounts herein specified, and Tenant shall nevertheless hold Landlord harmless
from any loss or damage incurred or suffered by Landlord from Tenant’s failure
to maintain such insurance.

 

Plat Glass Insurance. The
replacement of any plate glass damaged or broken from any cause whatsoever in
and about the Leased Premises shall be Tenant’s responsibility. Tenant shall,
during the entire term hereof, keep in full force and effect a policy of plate
glass insurance covering all the plate glass of the Leased Premises, in amounts
satisfactory to Landlord. The policy shall name Landlord as additional insured
and shall contain a clause that the insurer will not cancel or change the
insurance without first giving the Landlord twenty (20) days prior notice. A
copy of the policy together with the declarations page therefore shall be
delivered to Landlord prior to the commencement of the term of this Lease.

 

Increases in Fire Insurance
Premium. Tenant agrees that it will not keep, use or sell in or upon the
Leased Premises any article, machinery or equipment which may be prohibited by
the standard form of fire and extended risk insurance policy. Tenant agrees to
pay any increase in premiums for fire and extended coverage insurance that may
be charged during the term of this Lease on the amount of such insurance which
may be carried by Landlord on the Leased Premises or the building of which it
is a part, resulting from the type of merchandise, machinery or equipment sold
or kept by Tenant in the Leased Premises or resulting from Tenant’s use of the
leased Premises, whether or not Landlord has consented to the same.

 

Indemnification. Tenant shall
indemnify, defend and save Landlord harmless from and against any and all
claims, actions, damages, liability and expense in connection with loss of
life, personal injury and/or damage to or destruction of property arising from
or out of any occurrence in, upon or at the Leased Premises, or any part
thereof, or the occupancy or use by Tenant of the Leased Premises or any part
therof, or occasioned wholly or in part by any act or omission of Tenant, its
agents, contractors, employees, servants, lessees or concessionaires. Landlord
shall indemnify, defend and save Tenant harmless from and against any and all
claims, actions, damages, liability and expense in connection with loss of
life, personal injury and/or damage to or destruction of property arising from
or out of any occurrence in, upon or at the Leased Premises or in the Center
occasioned in whole or in part by any negligent act or omission by Landlord,
its agents, contractors, employees, servants or concessionaires. In case the
indemnifying party shall be made a party to any litigation commenced by or
against the other party , then such other party shall protect and hold the
indemnified party harmless and pay all costs and

 

5

 

attorney’s fees incurred by
the indemnified party in connection with such litigation, and any appeals
thereof. The defaulting party shall also pay all costs, expenses and reasonable
attorney’s fees that may be incurred or paid by the other party in enforcing
the covenants and agreements in this Lease.

 

UTILITIES

 

Utilities. Tenant shall
be solely responsible for and shall promptly pay all charges for water, gas,
electricity, garbage, and any other utility used and consumed in the Leased
Premises. In the event that such utilities charges, or any portion thereof
shall be separately metered for the Leased Premises, tenant shall pay such
meter charges directly to the utility company supplying such service. In the
event, however, that such utilities charges, or any portion thereof, shall not
be separately metered for the Leased Premises, tenant shall pay to Landlord its
pro rata share of such non-metered charges, which pro rata share shall be equal
to Tenant’s Proportionate Share of Building Assessments. If any such charges
are not paid when due, Landlord may, at its option pay the same, and any amount
so paid by Landlord shall thereupon become due to Landlord from tenant as additional
rent. In no event, however, shall Landlord be liable for an interruption or
failure in the supply of any such utilities to the Leased Premises.

 

SUBORDINATION
AND ATTORNMENT

 

Subordination. Tenant hereby
subordinates its rights hereunder to the lien of any ground or underlying
leases, any mortgage or mortgages, or the lien resulting from any other method
of financing or refinancing, now or hereafter in force against the Property,
the Center, and Building of which the Leased Premises is a part of, and to all
advances made or hereafter to be made upon the security thereof. This Section shall
be self-operative and no further instrument of subordination shall be required
by any mortgagee, but Tenant agrees upon request of Landlord, from time to
time, to promptly execute and deliver any and all documents evidencing such
subordination, and failure to do so shall constitute a default under this
Lease.

 

Attornment. In the event
any proceeding s are brought for the foreclosure of, or in the event of exercise
of the power of sale under, any mortgage covering the Leased Premises or in the
event a deed is given in lieu of foreclosure of any such mortgage, Tenant shall
attorn to the purchaser, or grantee in lieu of foreclosure, upon any such
foreclosure or sale and recognize such purchaser, or grantee in lieu of
foreclosure, as the Landlord under this Lease.

 

6

 

Financing Agreements. Tenant shall
not enter into, execute or deliver any financing agreement that can be
considered as having priority to any mortgage or deed of trust that Landlord
may have placed upon the Leased Premises.

 

ASSIGNMENT
AND SUBLETTING

 

Tenant may not assign this
lease in whole or in part, nor sublet all or any portion of the Leased
Premises, without the prior written consent of Landlord in each instance. The
consent by Landlord to any assignment or subletting shall not constitute a
waiver of the necessity for such consent to any subsequent assignment or
subletting. It is understood that Landlord may refuse to grant consent to any
assignment or subletting by Tenant with or without cause and without stating in
its refusal to grant such consent the reasons for which it refuses to grant
such consent and may not, under any circumstances, be required or compelled to
grant such consent. No assignment, under letting, occupancy or collection shall
be deemed acceptance of the assignee, subtenant or occupant as Tenant, or a
release of Tenant from the further performance by Tenant of the covenants on
the part of Tenant herein contained. This prohibition against any assignment or
subleasing by operation of law, legal process, receivership, bankruptcy or
otherwise, whether voluntary or involuntary and a prohibition against any
encumbrance of all and any part of Tenant’s leasehold interest. Tenant shall
remain fully liable on this Lease and shall not be released from performing any
of the terms, covenants and conditions hereof or any rents or other sums to be
paid hereunder. Tenant acknowledges and agrees that any and all right and
interest of the Landlord in and to the Leased Premises, the Building and the
Property, and all right and interest of the Landlord in this Lease, may be
conveyed, assigned or encumbered at the sole discretion of the Landlord at any
time.

 

FACILITIES

 

Control of Common Areas by
Landlord. All automobile parking areas, driveways, entrances
and exits thereto, and other facilities furnished by Landlord in or near the
Center, including employee parking areas, the truck way or ways, loading docks,
package pick-up stations, pedestrian sidewalks and ramps, landscaped areas,
exterior stairways, and other areas and improvements provided by Landlord for
the general use, in common, of tenants, their officers, agents, employees and
customers, shall at all times be subject to the exclusive control and
management of Landlord, and Landlord shall have the right from time to time to
establish, modify and enforce reasonable rules and regulations with
respect to all facilities and areas mentioned in this Article. Landlord shall
have the right to construct, maintain and operate lighting facilities on all
said areas and improvements; from time to time to change the area, level,
location and arrangement of parking areas and other facilities hereinabove
referred to and to restrict parking by

 

7

 

tenants, their officers,
agents and employees to employee parking areas. Landlord shall not have any
duty to police the traffic in the parking areas. There are about
                        
parking spaces available to Tenant. Tenant is to maintain and repair parking
and at Tenant’s expense.

 

TENANT’S
FIXTURES AND IMPROVEMENTS

 

Alterations by Tenant. Tenant shall
not make any alterations, renovations, improvements or other installations
(collectively “Alterations”) in, on or to any part of the Premises (including,
without limitation, any alterations of the front, signs, structural
alterations, or any cutting or drilling into any part of the Premises or any
securing of any fixture, apparatus, or equipment of any kind to any part of the
Premises) unless and until Tenant shall have caused plans and specifications
therefor to have been prepared, at Tenant’s expense, by an architect or other
duly qualified person and shall have obtained Landlord’s approval thereof.
Tenant shall submit to Landlord detailed drawings and plans of the proposed
Alterations at the time Landlord’s approval is sought. If such approval is
granted, Tenant shall cause the work described in such plans and specifications
to be performed, at its expense, promptly, efficiently, competently and in a
good and workmanlike manner by duly qualified and licensed persons or entities
approved by Landlord, using first grade materials, without interference with or
disruption to the operations of tenants or other occupants of the Center. All
such work shall comply with all applicable codes, rules, regulations and
ordinances. The Tenant shall at all times maintain fire insurance with extended
coverage in an amount adequate to cover the cost of replacement of all
alterations, decorations, additions or improvements to the Premises by Tenant
in the event of fire or extended coverage loss. Tenant shall deliver to the
Landlord certificates of such fire insurance policies which shall contain a
clause requiring the insurer to give the Landlord ten (10) days notice of
cancellation of such policies.

 

Mechanic’s Liens. No work
performed by Tenant pursuant to this Lease, whether in the nature of erection,
construction, alteration or repair, shall be deemed to be for the immediate use
and benefit of Landlord so that no mechanic’s or other lien shall be allowed
against the estate of Landlord by reason of any consent given by Landlord to
Tenant to improve the Premises. Tenant shall place such contractual provisions
as Landlord may request in all contracts and subcontracts for Tenant’s
improvements assuring Landlord that no mechanic’s liens will be asserted
against Landlord’s interest in the Premises or the property of which the
Premises are a part. Said contracts and subcontracts shall provide, among other
things, the following: That notwithstanding anything in said contracts or
subcontracts to the contrary, Tenant’s contractors, subcontractors, suppliers
and materialmen (hereinafter collectively referred to as “Contractors”) will
perform the work and/or furnish the required materials on the sole credit of
Tenant; that no lien for labor or materials will be filed or claimed by the
Contractors against Landlord’s interest in the Premises or the property of
which the Premises are a part; that the Contractors will immediately discharge
any such lien filed by

 

8

 

any of the Contractor’s
suppliers, laborers, materialmen or subcontractors; and that the Contractors
will indemnify and save Landlord harmless from any and all costs and expenses,
including reasonable attorney’s fees, suffered or incurred as a result of any
such lien against Landlord’s interest that may be filed or claimed in
connection with or arising out of work undertaken by the Contractors. Tenant
shall pay promptly all persons furnishing labor or materials with respect to
any work performed by Tenant or its Contractors on or about the Premises. If
any mechanic’s or other liens shall at any time be filed against the Premises
or the property of which the Premises are a part by reason of work, labor,
services or materials performed of furnished, or alleged to have been performed
or furnished, to Tenant or to anyone holding the Premises through or under
Tenant, and regardless of whether any such lien is asserted against the
interest of Landlord or Tenant, Tenant shall cause the same to be discharged of
record or bonded to the satisfaction of Landlord within thirty (20) days of
notice of such lien. If Tenant shall fail to cause such lien to be so
discharged or bonded after being notified of the filing thereof, then, in
addition to being an Event of Default and any other right or remedy of
Landlord, Landlord may bond or discharge the same by paying the amount claimed
to be due, and the amount so paid by Landlord, including reasonable attorneys’
fees incurred by Landlord either in defending against such lien or in procuring
the bonding or discharge of such lien, together with interest thereon at the
Default Rate, shall be due and payable by Tenant to Landlord as Additional
Rent.

 

Tenant’s Leasehold
Improvements and Trade Fixtures. All leasehold improvements
as distinguished from trade fixtures and apparatus) installed in the Premises
at any time, whether by or on behalf of Tenant or by or on behalf of Landlord,
shall not be removed from the Premises at any time, unless such removal is
consented to in advance by Landlord; and at the expiration of this Lease
(either on the Expiration Date or upon such earlier termination as provided in
this Lease), all such leasehold improvements shall be deemed to be part of the
Premises, shall not be removed by Tenant when it vacates the Premises, and
title thereto shall vest solely in Landlord without payment of any nature to Tenant.

 

All trade fixtures and
apparatus (as distinguished from leasehold improvements) owned by Tenant and
installed in the Premises shall remain the property of Tenant and shall be
removable at any time, including upon the expiration of the Term; provided
Tenant shall not at such time be in default of any terms or covenants of this
Lease, and provided further, that Tenant shall repair any damage to the
Premises caused by the removal of said trade fixtures and apparatus and shall
restore the Premises to substantially the same condition as existed prior to
the installation of said trade fixtures and apparatus and shall restore the
Premises to substantially the same condition as existed prior to the
installation of said trade fixtures and apparatus.

 

9

 

MAINTENANCE
AND REPAIR OF PREMISES

 

Maintenance by Tenant. Tenant shall
at all times keep in good order, condition and repair (which shall include the
providing of replacements where necessary) the entire Premises, including,
without limitation, the roof, the exterior and all glass and show window
moldings; and all partitions, doors, interior walls, fixtures, equipment and
appurtenances thereto, including lighting, heating and plumbing fixtures and
any air conditioning system and sprinkler system situated within and/or
servicing the Premises. Said maintenance by Tenant shall include, without
limitation, periodic painting as is reasonably necessary. All cutting and
patching of the roof area required for any reason whatsoever shall be performed
by the Landlord’s roofing subcontractor. In the event that Tenant causes such
work to be performed by anyone other than the Landlord’s roofing subcontractor,
Landlord will have the right, at Tenant’s sole cost and expense and without
notice to Tenant, to cause said work and the roof area affected thereby to be
inspected and/or repaired by Landlord’s roofing subcontractor. All repairs,
replacements, or maintenance of any item or any type of the Premises is the
responsibility of the Tenant and to be paid for by Tenant.

 

SIGNS

 

On or before the
Commencement Date, Tenant will at its sole cost and expense purchase and cause
to be installed upon the exterior of the Premises a sign which in all respects
conforms to the criteria established by Landlord. However, Tenant will not
install said sign without first obtaining Landlord’s written approval thereof.
Thereafter, Tenant will not place or suffer to be placed or maintain on any
portion of the exterior (including windows) of the Premises any sign, awning,
canopy or advertising matter or other thing of any kind, without first
obtaining Landlord’s written approval and consent. Without limitation as to the
foregoing, Landlord specifically reserves the right at any time during the term
of this Lease to require Tenant to remove from the Premises any sign(s) situated
thereon and to replace same with a sign or signs which in all respects conform
to a sign standard designated by Landlord, all of which will be performed at
Tenant’s sole cost and expense. Tenant agrees to maintain any such sign,
awning, canopy, decoration, lettering, advertising matter or other thing as may
be approved in good condition and repair at all times and to repaint or replace
such signs from time to time when reasonably necessary and to illuminate such
signs in accordance with standards established by Landlord from time to time,
including hours of illumination. All signs in addition must be conform to code
and local ordinances rules, laws and regulations

 

10

 

WASTE
AND GOVERNMENTAL REGULATIONS

 

Nuisance or Waste. Tenant shall
not commit or suffer to be committed any waste upon the Premises or any
nuisance or other act or thing which may disturb the quiet enjoyment of any
other tenant in the building in which the Premises may be located, or in the
Center.

 

Compliance with Laws. Tenant, at
its sole cost, will promptly comply with all applicable laws, guidelines,
rules, regulations and requirements, whether of federal, state, or local
origin, applicable to the Premises, and the Center, including, but not limited
to, the Americans with Disabilities Act, 42 U.S.C. § 12101 et seq, and those
for the correction, prevention and abatement of nuisance, unsafe conditions, or
other grievances arising from or pertaining to the use or occupancy of the
Premises or the Center. Tenant at its sole cost and expense shall be solely
responsible for taking any and all measures which are required to comply with
the requirements of the ADA within the Premises. Any Alterations to the Premises
made by or on behalf of Tenant for the purpose of complying with the ADA or
which otherwise require compliance with the ADA shall be done in accordance
with this Lease; provided, that Landlord’s consent to such Alterations shall
not constitute either Landlord’s assumption, in whole or in part, of Tenant’s
responsibility for compliance with the ADA, or representation or confirmation
by Landlord that such Alterations comply with the provisions of the ADA.

 

Governmental Regulations. Tenant shall,
at Tenant’s sole costs and expense, comply with all regulations of all county,
municipal, state, federal and other applicable governmental authorities, not in
force or which may hereafter be in force, pertaining to Tenant or its use of
the Leased Premises, and shall faithfully observe in the use of the Leased
Premises all municipal and county ordinances and state and federal statutes now
in force or which may hereinafter be in force. Tenant shall indemnify, defend
and save Landlord harmless from penalties, fines, costs, expenses suits,
claims, or damages resulting from Tenant’s failure to perform its obligations
in this Section.

 

Rules and Regulations. Landlord
reserves the right from time to time to make reasonable rules and
regulations, governing loading of supplies, trash collection, pest control,
parking, noise, electrical overloads and similar issues of general concern to
all tenants in the event that the need therefor should ever arise. Notice of
such rules and regulations and amendments and supplements thereto, if any,
shall be given to the Tenant.

 

HAZARDOUS
MATERIALS

 

Hazardous Materials. Tenant shall
not use or allow the Premises to be used for the Release, storage, use,
treatment, disposal or other handling of any Hazardous Materials, without the
prior consent of Landlord. The term “Release” shall have the same meaning as is
ascribed to it in the Comprehensive Environmental Response,

 

11

 

Compensation and Liability
Act, 42 U.S.C. § 9601 et  seq., as amended, (“CERCLA”). The term “Hazardous
Materials” means (i) any substance defined as a “hazardous substance”
under CERCLA, (ii) petroleum, petroleum products, natural gas, natural gas
liquids, liquefied natural gas, and synthetic gas, and (iii) any other
substance or ‘material deemed to be hazardous, dangerous, toxic, or a pollutant
under any federal, state, or local law, code, ordinance or regulation (“Hazardous
Materials Laws”).

 

Tenant shall: (a) give
prior notice to Landlord of any activity or operation to be conducted by Tenant
at the Premises which involves the Release, use, handling, generation,
treatment, storage, or disposal of any Hazardous Materials (“Tenant’s Hazardous
Materials Activity”), (b) comply with all federal, state, and local laws,
codes, ‘ordinances, regulations, permits and licensing conditions governing the
Release, discharge, emission, or disposal of any Hazardous Materials and
prescribing methods for or other limitations on storing, handling, or otherwise
managing Hazardous Materials, (c) at its own expense, promptly contain and
remediate any Release of Hazardous Materials arising from or related to Tenant’s
Hazardous Materials Activity in the Premises or the Center and remediate and
pay for any resultant damage to property, persons, and/or the environment, (d) give
prompt notice to Landlord, and all appropriate regulatory, authorities, of any
Release of any Hazardous Materials in the Premises, the Center the Center
Common Area arising from or related to, Tenant’s Hazardous Materials Activity,
which Release is not made pursuant to and in conformance with the terms of any
permit or license duly issued by appropriate governmental authorities, any such
notice to include a description of “measures taken or proposed to be taken by
Tenant to contain and remediate the Release and any resultant damage to
property, persons, or the environment, (e) at Landlord’s request, which
shall not be more frequent than once per calendar year, retain an independent
engineer or other qualified consultant or, expert acceptable to Landlord, to
conduct, at Tenant’s expense, an environmental audit of the Premises and
immediate surrounding areas, and the scope of work to be performed by such
engineer, consultant, or expert shall be approved in advance by Landlord, and
all of the engineer’s, consultant’s or expert’s work product shall be made
available to Landlord, (f) at Landlord’s request from time to time,
executed affidavits, representations and the like concerning Tenant’s best
knowledge, and belief regarding the presence of Hazardous Materials in the
Premises, (g) reimburse to Landlord, upon demand, the reasonable cost of
any testing for the purpose of ascertaining if there has been any Release of
Hazardous Materials in the Premises, if such testing is required by any
governmental agency or Landlord’s Mortgagee, (h) upon expiration or
termination of this Lease, surrender the Premises to Landlord free from the
presence and contamination of any Hazardous Materials. Tenant shall indemnify,
protect, defend (by counsel reasonably acceptable to Landlord) , and hold
Landlord and free and harmless from and against any and all claims,
liabilities, penalties, forfeitures, losses and expenses (including attorneys’
fees) or death of or injury to any person or damage to any property whatsoever,
including, without limitation, the Center Common Area, arising from or caused
in whole or in part, directly or indirectly, by the presence in or about the
Center of any of Tenant’s Hazardous Materials Activity or by Tenant’s failure
to comply with any Hazardous Materials Law

 

12

 

regarding Tenant’s Hazardous
Materials Activity or in connection with any removal, remediation, clean up,
restoration and materials required hereunder to return the Premises and any
other property of whatever nature to their condition existing prior to Tenant’s
Hazardous Materials Activity.

 

Disclosure Warning and
Notice Obligations. Tenant shall comply with all laws, ordinances and
regulations in the State where the Premises is located regarding the disclosure
of the presence or danger of Tenant’s Hazardous Materials. Tenant acknowledges
and agrees that all reporting and warning obligations required under the
Hazardous Materials Laws with respect to Tenant’s Hazardous Materials Activity
are the sole responsibility of Tenant, whether or not such Hazardous Materials
Laws permit or require Landlord to provide such reporting or warnings, and
Tenant shall be solely responsible for complying with such Hazardous Materials
Laws regarding the disclosure of, the presence or danger of Tenant’s Hazardous
Materials Activity. Tenant shall immediately notify Landlord, in writing, of
any complaints, notices, warnings, reports or asserted violations of which
Tenant becomes aware relating to Hazardous Materials on or about the Premises.
Tenant shall also immediately notify Landlord if Tenant knows or has reason to
believe Tenant’s Hazardous Materials have or will be released in or about the
Center or the Premises.

 

Environmental Tests and Audits. Tenant shall
not perform or cause to be performed, any Hazardous Materials surveys, studies,
reports or inspection, relating to the Premises without obtaining Landlord’s
advance written consent, which consent may be withheld in Landlord’s sole
discretion. At any time prior to the expiration of the Lease Term, Landlord
shall have the right to enter upon the Premises in order to conduct appropriate
tests and to deliver to Tenant the results of such tests to demonstrate that
levels of any Hazardous Materials in excess of permissible levels has occurred
as a result of Tenant’s use of the Premises.

 

Survival/Tenant’s
Obligations. The respective rights and obligations of Landlord
and Tenant under this Article shall survive the expiration or termination
of this Lease.

 

DESTRUCTION
OF PREMISES

 

Damage and Destruction. If all or any
part of the Premises shall be damaged or destroyed by fire or other casualty,
this Lease shall continue in full force and effect, unless terminated as
hereinafter provided, and Landlord shall repair, restore or rebuild the
Premises to the condition existing at the time of the occurrence of the loss;
provided, however, Landlord shall not be obligated to commence such repair,
restoration or rebuilding until insurance proceeds are received by Landlord,
and Landlord’s obligation hereunder shall be limited to the proceeds actually
received by Landlord under any insurance policy or policies, if any, less those
amounts (i) which have been required to be applied towards the reduction
of any indebtedness secured by a mortgage covering the

 

13

 

Center or any portion
thereof, and (ii) which are used to reimburse Landlord for all costs and
expenses, including but not limited to attorneys’ fees, incurred by Landlord to
recover any such insurance proceeds.

 

Tenant agrees to notify
Landlord in writing not less than thirty (30) days prior, to the date Tenant
opens for business in the Premises of the actual cost of all permanent
leasehold improvements and betterments installed or to be installed by Tenant
in the Premises (whether same have been paid for entirely or partially by
Tenant), but exclusive of Tenant I s personal property, movable trade fixtures
and inventory. Similar notifications shall be given to Landlord not less than
thirty (30) days prior to the commencement of any proposed alterations,
additions or improvements to the Premises. If Tenant fails to comply, with the
foregoing provisions, any loss or damage Landlord shall sustain by reason
thereof shall be borne by Tenant and shall be paid immediately by Tenant upon
receipt of a bill therefore’ and evidence of such loss, and in addition to any
other rights or remedies reserved by Landlord under this Lease, Landlord’s
obligations under this Article to repair, replace and/or rebuild the
Premises shall be deemed inapplicable, and in lieu thereof, Landlord may, at
its election, either restore or require Tenant to restore the Premises to the
condition which existed prior to such -loss, and in either case Tenant shall
pay the cost of such restoration.

 

Tenant covenants and agrees
to repair or replace Tenant’s fixtures, furniture, furnishings, floor
coverings, equipment and stock in trade and reopen for business in the Premises
within thirty (30) days after notice from Landlord that the Premises are ready
for re-occupancy.

 

No damage or destruction to
the Premises shall allow Tenant to surrender possession of the Premises nor
affect Tenant’s liability for the payment of rents or charges or any other
covenant herein contained, except as may be specifically provided in this
Lease.

 

Notwithstanding anything to
the contrary contained in this Section or elsewhere in this Lease,
Landlord, at its option, may terminate this Lease by giving Tenant notice
thereof within one hundred and eighty (180) days from the date of the casualty
if:

 

(a) The Premises or the
building in which the Premises are located shall be damaged or destroyed as a
result of an occurrence which is not covered by Landlord’s insurance; or

 

(b) The Premises shall
be damaged or destroyed during the last two (2) years of the Term or any
renewals thereof; or

 

(c) If by fire or other
casualty the Premises are damaged or destroyed to the extent of twenty
five-percent (25%) or more of the replacement cost thereof, or the Center is
damaged or destroyed to the extent of twenty-five per cent (25%) or more of the
replacement cost thereof, Landlord will have the option of terminating this
Lease or any renewal thereof by serving written notice upon Tenant and any prepaid
Rent or Additional Rent will be prorated as of the date of destruction and the
unearned portion of such Rent will be refunded to Tenant without interest.

 

14

 

(d) Any or all of the
buildings or Common Areas of the Center are damaged (whether or not the
Premises are damaged) to such an extent that, in the sole judgment of Landlord,
the Center cannot be operated as an economically viable unit.

 

If the Premises shall be
damaged or destroyed and in the event that Landlord has elected to continue
this Lease, Landlord and Tenant shall commence their respective obligations
under this Article as soon as is reasonably possible and prosecute the
same to completion with all due diligence.

 

Except where the damage or
destruction results from the wrongful or negligent act or omission of Tenant,
the Minimum Rent shall be abated proportionately with the degree to which
Tenant’s use of the Premises is impaired during the period of any damage,
repair or restoration provided for in this Article 20; provided further,
that in the event Landlord elects to repair any damages as herein contemplated,
any abatement of Minimum Rent shall end ten (10) days after notice by
Landlord to Tenant that the Premises have been repaired. Tenant shall continue
the operation of its business on the Premises during any such period to the
extent reasonably practicable from the standpoint of prudent business
management, and any obligation of Tenant under the Lease to apply charges
reserved as Additional Rent or Percentage Rent shall remain in full force and
nothing in the Section shall be construed to abate Additional Rent or
Percentage Rent. Except for the abatement of Minimum Rent hereinabove provided,
Tenant shall not be entitled to any compensation or damage for loss in the use
of the whole or any part of the Premises and/or any inconvenience or annoyance
occasioned by any damage, destruction, repair or restoration, if Minimum Rent
is abated there shall be all corresponding and appropriate reduction made to
the Minimum Annual Volume.

 

Unless this Lease is
terminated by Landlord, Tenant shall repair, restore and re-fixture all parts
of the Premises not insured under any insurance policies insuring Landlord in a
manner and to a condition equal to that existing prior to its destruction or
damage, including, without limitation, all exterior signs, trade fixtures,
equipment, display cases, furniture, furnishings and other installations of
personalty of Tenant. The proceeds of all insurance carried by Tenant on its
property and improvements shall be held in trust by Tenant for the purpose of
said repair and replacement. Tenant shall give to Landlord prompt written
notice of, any damage to or destruction of any portion of the Premises
resulting from fire or other casualty.

 

EMINENT
DOMAIN

 

Total Condemnation of
Premises. If the whole of the Premises shall be acquired or
condemned by eminent domain for any public or quasi-public use or purpose, then
the Term of this Lease shall cease and terminate as of the date of title
vesting in such proceeding and all rentals shall be paid up to that date.

 

15

 

Partial Condemnation of
Premises. A. If twenty (20%) percent or more of the Premises
shall be acquired or condemned by eminent domain for any public or quasi-public
use or purpose, then the Tenant shall have the option to cancel and terminate
this Lease upon notice thereof given to the Landlord within ninety (90) days
after the vesting of title in such proceeding.

 

B. In the event that less
than ten (10%) percent of the Premises shall be acquired or condemned by
eminent domain for any public or quasi-public use or purpose, or in the event
ten (10%) percent or more of the Premises shall have been so taken, and Tenant
shall not elect to terminate this Lease as set forth above, then the Landlord
shall promptly restore the Premises to a condition reasonably comparable under
the circumstances to its condition at the time of such condemnation, less the
portion lost in the taking, and this Lease shall thereafter continue in full
force and effect. In such event of a partial taking, described hereinabove,
from the effective date that physical possession is taken by the condemning
authority through the end of the term of this Lease, the annual Minimum Rent
payable by Tenant to Landlord under Section 1.5 of this Lease shall be
reduced by a fraction, the numerator of which shall be the gross area of the
premises so taken by the condemning authority and the denominator of which
shall be the gross area of the Premises on the date immediately prior to the
effective date of such taking.

 

Total Condemnation of
Parking Area. If the whole of the common parking areas in the
Center shall be acquired or condemned by eminent domain for any public or
quasi-public use or purpose, then the term of this Lease shall cease and
terminate as of the date of title vesting in such proceeding.

 

Partial Condemnation of
Parking Area. If twenty (20%) percent or more of the common
parking areas in the Center shall be acquired or condemned by eminent domain
for any public or quasi-public use or purpose, then the Tenant shall have the
option to cancel and terminate this Lease upon notice thereof given to the
Landlord within ninety (90) days after the vesting of title in such proceeding.

 

If less than twenty (20%)
percent of the parking areas in the Center shall be acquired or condemned by
eminent domain for any public or quasi-public use or purpose, or if more than
twenty (20%) percent of the parking areas shall be so acquired or condemned,
but Tenant shall not elect to cancel and terminate this Lease, then the
Landlord shall restore the parking areas to a condition reasonably comparable
under the circumstances to its condition at the time of such condemnation, less
the portion lost in the taking. In such event, this Lease shall be and remain
in full force and effect and no reduction of Minimum Rent, Percentage Rent or
any Additional Rent payable by Tenant under this Lease shall be allowed in such
circumstances, but Tenant shall continue to pay the full Minimum Rent,
Percentage Rent, or any Additional Rent payable under this Lease for the
balance of the term hereof.

 

16

 

DEFAULTS

 

Events of Default By Tenant. If (1) Tenant
vacates, abandons or surrenders all or any part of the Premises prior to the
expiration of the Term of the Lease or (2) Tenant fails to fulfill any of
the terms or conditions of this Lease or any other lease heretofore made by
Tenant for space in the Center or (3) the appointment of a trustee or a
receiver to take possession of all or substantially all of Tenant’s assets
occurs, or if the attachment, execution or other judicial seizure of all or
substantially all of Tenant’s assets located at the Premises, or of Tenant’s
interest in this Lease, occurs, or (4) Tenant or any of its successors or
assigns or any guarantor of this Lease (“Guarantor”) should file any voluntary
petition in bankruptcy, reorganization or arrangement, or an assignment for the
benefit of creditors or for similar relief under any present or future statute,
law or regulation relating to relief of debtors, or (5) Tenant or any of
its successors or assigns or any Guarantor should be adjudicated bankrupt or
have an involuntary petition in bankruptcy, reorganization or arrangement filed
against it, or (6) Tenant shall permit, allow or suffer to exist any lien,
judgment, writ, assessment, charge, attachment or execution upon Landlord’s or
Tenant’s interest in this Lease or to the Premises, and/or the fixtures,
improvements and furnishings located thereon; then, Tenant shall be in default
hereunder.

 

Tenant’s Grace Periods. If (1) Tenant
fails to pay Rent or Additional Rent within five (5) days after notice
from Landlord of delinquency or (2) Tenant fails to cure any other default
within ten (10) days after notice faith), then Landlord shall have such
remedies as are provided under this Lease and/or under the laws of the State in
which the Center is located.

 

Repeated Late Payment. Regardless of
the number of times of Landlord’s prior acceptance of late payments and/or late
charges, (i) if Landlord notifies Tenant twice in any 6-month period that
Minimum Rent, Percentage Rent or any Additional Rent has not been paid when
due, then any other late payment within such 6-month period shall automatically
constitute a default hereunder without the necessity of notice and (ii) the
mere acceptance by Landlord of late payments in the past shall not, regardless
of any applicable laws to the contrary, thereafter be deemed to waive Landlord’s
right to strictly enforce this Lease, including Tenant’s obligation to make
payment of Rent on the exact day same is due, against Tenant.

 

Landlord’s Default. If Tenant
asserts that Landlord has failed to meet any of its obligations under this
Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord
specifying the alleged failure to perform, and Tenant shall send by certified
mail, return receipt requested, a copy of such Notice of Default to any and all
mortgage holders, provided that Tenant has been previously advised of the
addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day
period after receipt of the Notice of Default in which to commence curing any
non-performance by Landlord, and

 

17

 

Landlord shall have as much
time thereafter to complete such cure as is necessary so long as Landlord’s
cure efforts are diligent and continuous, if Landlord has not begun the cure
within thirty (30) days of receipt of the Notice of Default, or Landlord does
not thereafter diligently and continuously attempt to cure, then Landlord shall
be in default under this Lease, if Landlord is in default under this Lease,
then the mortgage holder(s) shall have an additional thirty (30) days,
after receipt of a second written notice from Tenant, within which to cure such
default or, if such default cannot be cured within that time, then such
additional time as may be necessary so long as their efforts are diligent and
continuous.

 

LANDLORD’S
REMEDIES FOR TENANT’S DEFAULT

 

Landlord’s Options. If Tenant is
in default of this Lease, Landlord may, at its option, in addition to such
other remedies as may be available under the law of the State where the Center
is located:

 

1. Terminate this Lease and
Tenant’s right of possession; or

 

2. Terminate Tenant’s right
to possession but not the Lease and/or proceed in accordance with any and all
provisions of paragraph B below.

 

Landlord’s Remedies. Landlord may
without further notice reenter the Premises either by force or otherwise and
dispossess Tenant by summary proceedings or otherwise, as well as the legal
representatives) of Tenant and/or other occupants) of the Premises, and remove
their effects and hold the Premises as if this Lease had not been made, and
Tenant hereby waives the service of notice of intention to re-enter or to
institute legal proceedings to that end; and/or at Landlord’s option.

 

All Rent and all Additional
Rent for the balance of the Term will, at the election of Landlord, be
accelerated and the present worth of same for the balance of the Lease Term,
net of amounts actually collected by Landlord, shall become immediately due
thereupon and be paid, together with all expenses of every nature which Landlord
may incur such as (by way of illustration and not limitation) those for
attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good
order or preparing them for re-rental. For purposes of this clause (2), “present
worth” shall be computed by discounting such amount to present worth at a
discount rate equal to one percentage point above the discount rate then in
effect at the Federal Reserve Bank nearest to the location of the Center. If
such termination shall take place after the expiration of two or more Lease
Years, then, for purposes of computing the accelerated Rent, the Annual
Percentage Rent payable with respect to each Lease Year following termination
(including the Lease Year in which such termination shall take place) shall be conclusively
presumed to be equal to the average Annual Percentage Rent payable with respect
to each complete Lease Year preceding termination. If such termination shall
take place before the expiration of two Lease Years, then, for purposes of
computing the accelerated Rent, the Annual Percentage Rent payable with respect
to each Lease Year

 

18

 

following termination
(including the Lease Year in which such the unexpired Term shall be
conclusively presumed to be a sum equal to twenty-five percent (25%) of the
annual Minimum Rent due and payable during such unexpired Term; and/or at
Landlord’s option.

 

Landlord may re-let the
Premises or any part thereof, either in the name of Landlord or otherwise, for
a term or terms which may at Landlord’s option be less than or exceed the
period which would otherwise have constituted the balance of the Lease Term,
and may grant concessions or free rent or charge a higher rental than that
reserved in this Lease; and/or at Landlord’s option,

 

Tenant or its legal
representatives will also pay to Landlord as liquidated damages any deficiency
between the Rent and all Additional Rent hereby reserved and/or agreed to be
paid and the net amount, if any, of the rents collected on account of the lease
or leases of the Premises for each month of the period which would otherwise
have constituted the balance of the Lease Term.

 

If Landlord exercises the
remedy above, and provided that Tenant has paid Landlord the accelerated Rent
as required by this paragraph, Landlord shall remit to Tenant on a monthly
basis until the Expiration Date any amounts actually collected by Landlord as a
result of a re-letting remaining after subtracting therefrom all reasonable
costs paid by Landlord to secure a replacement tenant including reasonable
marketing/leasing costs, fees and commissions, and costs of preparing
improvements and refurbishment to the Premises for the replacement tenant. In
no event shall the total amount paid to Tenant pursuant to the preceding
sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease
is terminated pursuant to Section 23.5(A) (2) Landlord may
re-let the Premises or any part thereof, alone or together with other premises,
for such term or terms (which may be greater or less than the period which
otherwise would have constituted the balance of the Term) and on such terms and
conditions (which may include concessions or free rent and alterations of the
Premises) as Landlord, in its sole discretion, may determine, but Landlord
shall not be liable for nor shall Tenant’s obligations hereunder be diminished
by reason of, any failure by Landlord to re-let the Premises or any failure by
Landlord to collect any rent due upon such re-letting.

 

Waiver of Jury Trial. To the extent
permitted by law, Tenant hereby waives: (a) jury trial in any action or
proceeding regarding a monetary default by Tenant and/or Landlord’s right to
possession of the Premises, and (b) in any action or proceeding by
Landlord for eviction where Landlord has also filed a separate action for
damages, Tenant waives the right to interpose any counterclaim in such eviction
action. Moreover, Tenant agrees that it shall not interpose or maintain any
counterclaim in such damages action unless it pays and continues to pay all
Rent, as and when due, into the registry of the court in which the damages
action is filed.

 

19

 

Waiver of Rights of
Redemption. Tenant hereby expressly waives any and all rights
of redemption granted by or under any present or future laws in the event of
Tenant being evicted or dispossessed for any cause, or in the event of Landlord
obtaining possession of the Premises, by reason of the violation by Tenant of
any of the covenants or conditions of this Lease or otherwise.

 

BANKRUPTCY
PROVISIONS

 

Event of Bankruptcy. If this Lease
is assigned to any person or entity pursuant to the provisions of the United
States Bankruptcy Code, 11 U.S.C. Section 101 et seq. (the “Bankruptcy
Code”), any and all monies or other consideration payable or otherwise to be
delivered in connection with such assignment shall be paid or delivered to
Landlord, shall be and remain the exclusive property of Landlord, and shall not
constitute the property of Tenant or of the estate of Tenant within the meaning
of the Bankruptcy Code. Any and all monies or other considerations constituting
Landlord’s property under this Section not paid or delivered to Landlord
shall be held in trust for the benefit of Landlord and shall be promptly paid
or delivered to Landlord. Any person or entity to which this Lease is assigned
pursuant to the provisions of the Bankruptcy Code shall be deemed without
further act or deed to have assumed all of the obligations arising under this
Lease on and after the date of such assignment.

 

Additional Remedies. In addition
to any rights or remedies hereinbefore or hereinafter conferred upon Landlord
under the terms of this Lease, the following remedies and provisions shall
specifically apply in the event Tenant is in default of this Lease:

 

(1) In all events, any
receiver or trustee in bankruptcy shall either expressly assume or reject this
Lease within sixty (60) days following the entry of an “Order for Relief” or
within such earlier time as may be provided by applicable law.

 

(2) In the event of an
assumption of this Lease- by a debtor or by a trustee, such debtor or trustee
shall within fifteen (15) days after such assumption (i) cure any default
or provide adequate assurance that defaults will be promptly cured; (ii) compensate
Landlord for actual pecuniary loss or provide adequate assurance that
compensation will be made for actual monetary loss, including, but not limited
to, all attorneys’ fees and costs incurred by Landlord resulting from any such
proceedings; and (iii) provide adequate assurance of future performance.

 

(3) Where a default
exists under this Lease, the trustee or debtor assuming this Lease may not
require Landlord to provide services or supplies incidental to this Lease
before its assumption by such trustee or debtor, unless Landlord is compensated
under the terms of this Lease for such services and supplies provided before
the assumption of such Lease.

 

(4) The debtor or
trustee may only assign this Lease if (i) it is assumed and the assignee
agrees to be bound by this Lease, (ii) adequate assurance of future
performance by the assignee is provided, whether or not there has been a
default under

 

20

 

this Lease, and (iii) the
debtor or trustee has received Landlord’s prior written consent pursuant to the
provisions of this Lease. Any consideration paid by any assignee in excess of
the rental reserved in this Lease shall be the sole property of, and paid to,
Landlord.

 

(5) Landlord shall be
entitled to the fair market value for the Premises and the services provided by
Landlord (but in no event less than the rental reserved in this Lease)
subsequent to the commencement of a bankruptcy event.

 

(6) Any security
deposit given by Tenant to Landlord to secure the future performance by Tenant
of all or any of the terms and conditions of this Lease shall be automatically
transferred to Landlord upon the entry of an “Order of Relief”.

 

(7) The parties agree
that Landlord is entitled to adequate assurance of future performance of the
terms and provisions of this Lease in the event of an assignment under the
provisions of the Bankruptcy Code. For purposes of any such assumption or
assignment of this Lease, the parties agree that the term “adequate assurance”
shall include, without limitation, at least the following: (i) any
proposed assignee must have, as demonstrated to Landlord’s satisfaction, a net
worth (as defined in accordance with generally accepted accounting principles
consistently applied) in an amount sufficient to assure that the proposed
assignee will have the resources to meet the financial responsibilities under
this Lease, including the payment of all Rent; the financial condition and
resources of Tenant are material inducements to Landlord entering into this
Lease; (ii) any proposed assignee must have engaged in the Use described
in Section 1.11 for at least five (5) years prior to any such
proposed assignment, the parties hereby acknowledging that in entering into
this Lease, Landlord considered extensively Tenant’s permitted use and
determined that such permitted business would add substantially to the tenant
balance in the Center, and were it not for Tenant’s agreement to operate only
Tenant’s permitted business on the Premises, Landlord would not have entered
into this Lease, and that Landlord’s operation of the Center will be materially
impaired if a trustee in bankruptcy or any assignee of this Lease operates any
business other than Tenant’s permitted business; (iii) any assumption of
this Lease by a proposed assignee shall not adversely affect Landlord’s
relationship with any of the remaining tenants in the Center taking into
consideration any and all other “use” clauses and/or “exclusivity” clauses
which may then exist under their leases with Landlord; and (iv) any
proposed assignee must not be engaged in any business or activity which it will
conduct on the Premises and which will subject the Premises to contamination by
any Hazardous Materials.

 

LIMITATIONS
OF LANDLORD’S LIABILITY

 

The term “Landlord” as used
in this Lease, so far as covenants or obligations on the part of the Landlord
are concerned shall be limited to mean and include only a ground lessee if the
named Landlord herein is holding the premises under a ground lease for so long
as the named Landlord is the holder of such ground lease interest or the owner
or owners of the fee simple of the Premises; and in the event of transfer or
transfers of either the ground leasehold interest to any other person or the
transfer of title to the fee premises

 

21

 

to any person, the Landlord
herein named (and in the case of subsequent transfers or conveyances the then
grantor or assignor), shall be automatically freed and relieved from and after
the date of such transfer or conveyance or assignment of all liability as
respects the performance of any covenant or obligation on the part of the
Landlord contained in this Lease thereafter to be performed, it being the
intention of the parties that the covenants and obligations to be observed and
performed by the-Landlord shall be binding upon the Landlord only during and in
respect of its period of ownership of either a leasehold interest, or a fee
interest as the case may be. Anything in this Lease to the contrary
notwithstanding, Tenant agrees that Tenant shall, subject to prior rights of
any mortgagee of the Center, look solely to the estate and property of Landlord
in the Center for the collection of any judgment (or other judicial process)
requiring the payment of money by Landlord in the event of any default or
breach by Landlord with respect to any of the terms, covenants and conditions
of this Lease to be observed and/or performed by Landlord, and no other assets
of Landlord or any principal of Landlord shall be subject to levy, execution or
other procedures for the satisfaction of Tenant’s remedies.

 

ACCESS
BY LANDLORD

 

Landlord or Landlord’s
agents shall have the right to enter the Premises at all times to examine the
same and to show them to prospective purchasers of the building, and to make
such repairs, alterations, improvements or additions as Landlord may deem
necessary or desirable, and Landlord shall be allowed to take all material into
and upon said premises that may be required therefor, without the same
constituting an eviction of Tenant in whole or in part and the Rent reserved
shall in no way abate while said repairs, alterations, improvements, or
additions are being made, by reason of loss or interruption of business of
Tenant, or otherwise. During the six (6) month period prior to the
expiration of the term of this Lease or any renewal term, Landlord may exhibit
the Premises to prospective tenants or purchasers, and place upon the premises
the usual notices “To Let” or “For Sale” which notices Tenant shall permit to
remain thereon without molestation. Nothing herein contained, however, shall be
deemed or construed to impose upon Landlord any obligation, responsibility or
liability whatsoever, for the care, maintenance, or repair of the Premises or
any part thereof, except as otherwise herein specifically provided. Landlord to
give Tenant reasonable notice during business hours prior to any entry.

 

QUIET
ENJOYMENT

 

Landlord’s Covenant. Upon payment
by the Tenant of the rents and other charges herein provided, and upon the
observance and performance of all the covenants, terms and conditions on Tenant’s
part to be observed and performed, Tenant shall peaceably and quietly hold and
enjoy the Leased Premises for the term hereby demised without

 

22

 

hindrance or interruption by
Landlord or any other person or persons lawfully or equitably claiming by,
through or under the Landlord, subject, nevertheless, to the terms and
conditions of this Lease.

 

MISCELLANEOUS

 

Accord and Satisfaction. No payment by
Tenant or receipt by Landlord of a lesser amount than the rent herein
stipulated to be paid shall be deemed to be other than on account of the
earliest stipulated rent, nor shall any endorsement or statement on any check
or any letter accompanying any check or payment as rent be deemed an accord and
satisfaction, and Landlord may accept such check or payment without prejudice
to Landlord’s right to recover the balance of such rent or pursue any other
remedy provided herein or by law.

 

Entire Agreement. This lease
and the Exhibits attached hereto and forming a part thereof as if fully set
forth herein, constitute all covenants, promises, agreements, conditions and
understandings between Landlord and Tenant concerning the Leased Premises and
the Building and there are no covenants, promises, conditions or
understandings, either oral or written, between them other than are herein set
forth. Neither Landlord nor Landlord’s agents have made nor shall be bound to
any representations with respect to the Leased Premises or the Building except
as herein expressly set forth, and all representations, either oral or written,
shall be deemed to be merged into this Lease Agreement. Except as herein
otherwise provided, no subsequent alteration change or addition to this lease
shall be binding upon Landlord or Tenant unless reduced to writing and signed
by them.

 

Notices. (a) Any
notice by Tenant to Landlord must be served by certified mail return requested,
addressed to Landlord at the address first hereinabove given or at such other
address as Landlord may designate by written notice. Tenant shall also provide
copies of any notice given to Landlord to such mortgagees, agents or attorneys
of Landlord as Landlord may direct.

 

(b) After commencement
of the term hereof any notice by Landlord to Tenant shall be served by
certified mail, return receipt requested addressed to Tenant at the Leased
Premises or at such other address as Tenant shall designate by written notice,
or by delivery by Landlord to the Leased Premises or to such other address.

 

	
  Lessor/Landlord:

  	
   

  	
  Lessee/Tenant:

  
	
  Tamarac Radiation
  Associates

  	
   

  	
  21st Century
  Oncology, Inc.

  
	
  7850 North University
  Drive

  	
   

  	
  2234 Colonial Blvd.

  
	
  Tamarac,
  FL 33321

  	
   

  	
  Fort
  Myers, FL 33907

  

 

23

 

(c) All notices given
hereunder shall be in writing, and shall be effective and deemed to have been
given only upon receipt by the party to which notice is being given, said
receipt being deemed to have occurred upon hand delivery or posting, or upon
such date as the postal authorities shall show the notice to have been
delivered, refused, or undeliverable, as evidenced by the return receipt.
Notwithstanding any other provision hereof, Landlord shall also have the right
to give notice to Tenant in any other manner provided by law.

 

Successors. All rights and
liabilities herein given to, or imposed upon,, the respective parties hereto
shall extend to and bind the several respective heirs, legal representatives,
and permitted successors and assigns of the said parties; and if there shall be
more than one person or party constituting the Tenant, they shall be bound
jointly and severally by the terms, covenants and agreements herein. No rights,
however, shall inure to the benefit of any assignee of Tenant unless the
assignment to such has been approved by Landlord in writing as provided herein.
Nothing contained in this Lease shall in any manner restrict Landlord’s right
to assign or encumber this Lease and, in the event Landlord sells its interest
in the Building and the purchaser assumes Landlord’s obligations and covenant,
Landlord shall thereupon be relieved of all further obligations hereunder.

 

Captions and Section Numbers. The captions,
section numbers, and article numbers appearing in this Lease are inserted only
as a matter of convenience and in no way define, limit, construe, or describe
the scope or intent of such sections or articles of this Lease nor in any way
affect this Lease.

 

Broker’s Commission. The Tenant
represents and warrants to Landlord that it has dealt with no real estate
broker, agent, salesperson or finder in connection with this Lease or the
Leased Premises, other than CMA Marketing, Inc., and the commission to
said broker shall be borne by Landlord. Notwithstanding the foregoing, Tenant
agrees to indemnify, defend and save the Landlord harmless from all liabilities
arising from claims by any real estate broker or agent claiming through Tenant.
Such indemnity of Tenant shall include, without limitation., all of attorneys,
fees incurred in connection therewith.

 

Partial Invalidity. If any term,
covenant I or condition of this Lease or the application thereof to any person
or circumstances shall, to any extent, be invalid or unenforceable, the
remainder of this Lease the application of such term, covenant or condition to
persons or circumstances other than those as to which it is held invalid or
unenforceable, shall not be affected thereby and each term, covenant or
condition of this Lease shall be valid and enforceable to the fullest extent
permitted by law.

 

24

 

Estoppel Certificate. Landlord and
Tenant agree that each will, at any time and from time to time, within ten (10) days
following written notice by the other party hereto specifying that it is given
pursuant to this Section, execute, acknowledge and deliver to the party who
gave such notice, or its designate, a statement in writing certifying that this
Lease is unmodified and in full force and effect (or if there have been
modifications, that the same is in full force and effect and stating the
modifications), and the date to which the annual rent and any other payments
due hereunder from Tenant have been paid in advance, if any, and stating
whether or not there are defenses or offsets claimed by the maker of the
certificate and whether or not to the best of knowledge of the signer of such
certificate the other party is in default in performance of any covenant
agreement or condition contained in this Lease, and if so, Specifying each such
default of which the maker may have knowledge and if requested, such financial
information concerning Tenant and Tenant’s business operations (and the Guarantor
of this Lease, if this Lease be guaranteed) as may be reasonably requested by
any Mortgagee or prospective mortgagee or purchaser. The failure of either
party to execute, acknowledge and deliver to the other a statement in
accordance with the provisions of this Section within said ten (10) business
day period shall constitute an acknowledgment, by the party given such notice,
which may be relied on by any person holding or proposing to acquire an
interest in the Building or any party thereof or the Leased Premises or this
Lease from or through the other party, that this Lease is unmodified and in
full force and effect and that such rents have been duly and fully paid to an
including the respective due dates immediately preceding the date of such notice
and shall constitute, as to any person entitled as aforesaid to rely upon such
statements, waiver of any defaults which may exist prior to the date of such
notice; provided, however that nothing contained in the provision of this Section shall
constitute waiver by Landlord of any default in payment of rent or other
charges existing as of the date of such notice and, unless expressly consented
to in writing by Landlord, and Tenant shall still remain liable for the same.

 

Liability of Landlord. Tenant shall look
solely to the estate and property of the Landlord in the Building for the
collection of any judgment, or in connection with any other judicial process,
requiring the payment of money by Landlord in the event of any default by
Landlord with respect to any of the terms, covenants and conditions of this
Lease to be observed and performed by Landlord, and no other property or
estates of Landlord shall be subject to levy, execution or other enforcement
procedures for the satisfaction of Tenant’s remedies and rights under this
Lease. Both parties waive a jury trial if any litigation arises.

 

Recordings. Tenant shall
not record this Lease, or any memorandum or short form thereof, without the
written consent and joinder of Landlord.

 

Time of Essence. Time is of
the essence with respect to the performance of every provision of this Lease in
which time of performance is a factor.

 

25

 

TENANT’S
PROPERTY

 

Taxes on Leasehold. Tenant shall
be responsible for and shall pay before delinquency all municipal, county or
state taxes assessed during the term of this Lease against any leasehold
interest or personal property of any kind, owned by or placed in, upon or about
the Premises by the Tenant.

 

Personal Property. Landlord shall
not be liable for any damage to property of Tenant or of others located on the
Premises, nor for the loss of or damage to any property of Tenant or of others
by theft or otherwise. Landlord shall not be liable for any injury or damage to
persons or property resulting from fire, explosion, falling piaster, steam,
gas, electricity, water, rain, or snow or leaks from any part of the Premises
or from the pipes, appliances or plumbing works or from the roof, street or
subsurface or from any other place or by dampness or by any other cause of
whatsoever nature. Landlord shall not be liable for any such damage caused by
other tenants or persons in the Premises, occupants of adjacent property, of
the Center, or the public, or caused by operation in construction of any
private, public or quasi-public work. All property of Tenant kept or stored on
the Premises shall be so kept or stored at the sole risk of Tenant only.

 

Notice by Tenant. Tenant shall
give immediate notice to Landlord in case of fire or accidents in the Premises
or in the building of which the Premises are a part or of defects therein or in
any fixtures or equipment.

 

HOLDING
OVER SUCCESSORS

 

Surrender of Premises. At the
expiration of the tenancy hereby created, Tenant shall surrender the Premises
in the same condition as the Premises were in upon the Commencement Date,
reasonable wear and tear excepted, and damage by unavoidable casualty excepted,
and shall surrender all keys for the Premises to Landlord at the place then
fixed for the payment of rent and shall inform Landlord of all combinations on
locks, safes and vaults, if any, in the Premises. Tenant shall remove all its
trade fixtures before surrendering the premises as aforesaid and shall repair
any damage to the Premises caused thereby. Tenant’s obligation to observe or
perform this covenant shall survive the expiration or other termination of the
term of this Lease.

 

OPTION
TO PURCHASE THE PROPERTY

 

Option to Purchase the
Property. Tenant shall have the option to purchase the
property after the first 3 years of the lease. Tenant must not be in default to
exercise this option after the third year. Purchase Price of the property, if
option is exercised by the Tenant will be the cost of the property to the
Landlord, plus closing costs at the time of

 

26

 

closing, plus the increase
in the Consumer Price Index from January 1, 1999, the beginning of the
Lease. Tenant must notify Landlord by certified mail, if they chose this option
to purchase the property and of the terms and conditions.

 

ATTORNEY
FEES AND COSTS

 

Attorney Fees and Costs. In the event
of a lawsuit or litigation concerning this Lease or enforcement of this Lease
the prevailing party shall be entitled to reasonable attorney fees and costs.
This will also cover appellant fees and appellant costs.

 

IN WITNESS WHEREOF, the
undersigned has hereunto set his hand and seal on 31st day of December 1999.

 

	
  Signed, sealed and
  delivered in the presence of:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  LANDLORD/LESSOR

  
	
   

  	
   

  	
  TAMARAC RADIATION
  ASSOCIATES,

  
	
   

  	
   

  	
  a Florida partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Daniel E. Dosoretz,
  General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TENANT/LESSEE:

  
	
   

  	
   

  	
  21ST CENTURY
  ONCOLOGY, INC.,

  a Florida corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Daniel E. Dosoretz,
  President

  

 

 

EXHIBIT “A”

 

Lots
18 and 19, Block 11, of LYONS COMMERCIAL SUBDIVISION NO. 3, according to the
Plat thereof, as recorded in Plat Book 76, Page 31, of the Public Records
of Broward County, Florida.

 

 

TMO

 

Rent Term:
1/01/00-12/31/09

 

	
   

  	
   

  	
  1999-2000

  	
   

  	
  2000-2001

  	
   

  	
  2001-2002

  	
   

  	
  2002-2003

  	
   

  	
  2003-2004

  	
   

  	
  2004-2005

  	
   

  	
  2005-2006

  	
   

  
	
  TMO

  	
   

  	
  1/1/00-12/31/00,

  	
   

  	
  1/1/01-12/31/01

  	
   

  	
  1/1/02-12/31/02

  	
   

  	
  1/1/03-12/31/03

  	
   

  	
  1/1/04-12/31/04

  	
   

  	
  1/1/05-12/31/05

  	
   

  	
  .1/1/06-12/31/06

  	
   

  
	
  Base
  Rent

  	
   

  	
  $

  	
  11,250.00

  	
   

  	
  $

  	
  14,058.33

  	
   

  	
  $

  	
  14,620.66

  	
   

  	
  $

  	
  15,205.49

  	
   

  	
  $

  	
  15,813.71

  	
   

  	
  $

  	
  16,446.26

  	
   

  	
  $

  	
  17,104.11

  	
   

  
	
   

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
  X

  	
   

  
	
  CPI

  	
   

  	
  1.24962935

  	
   

  	
  1.04

  	
   

  	
  1.04

  	
   

  	
  1.04

  	
   

  	
  1.04

  	
   

  	
  1.04

  	
   

  	
  1.04

  	
   

  
	
   

  	
   

  	
  $

  	
   14,058.33

  	
   

  	
  $

  	
  14,620.66

  	
   

  	
  $

  	
  15,205.49

  	
   

  	
  $

  	
  15,813.71

  	
   

  	
  $

  	
  16,446.26

  	
   

  	
  $

  	
  17,104.11

  	
   

  	
  $

  	
  17,788.27

  	
   

  
	
   

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
  X

  	
   

  
	
  S/TAX

  	
   

  	
  1.06

  	
   

  	
  0.06

  	
   

  	
  0.06

  	
   

  	
  0.06

  	
   

  	
  0.06

  	
   

  	
  0.06

  	
   

  	
  0.06

  	
   

  
	
   

  	
   

  	
  $

  	
   14,901.83

  	
   

  	
  $

  	
  877.24

  	
   

  	
  $

  	
  912.33

  	
   

  	
  $

  	
  948.82

  	
   

  	
  $

  	
  986.78

  	
   

  	
  $

  	
  1,026.25

  	
   

  	
  $

  	
  1,067.30

  	
   

  
	
  TOTAL/MTH

  	
   

  	
  $

  	
  14,901.83

  	
   

  	
  $

  	
  15,497.90

  	
   

  	
  $

  	
  16,117.82

  	
   

  	
  $

  	
  16,762.53

  	
   

  	
  $

  	
  17,433.03

  	
   

  	
  $

  	
  18,130.35

  	
   

  	
  $

  	
  18,855.57

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TOTAL/YR

  	
   

  	
  $

  	
  178,821.96

  	
   

  	
  $

  	
  185,974.84

  	
   

  	
  $

  	
  193,413.83

  	
   

  	
  $

  	
  201,150.39

  	
   

  	
  $

  	
  209,196.40

  	
   

  	
  $

  	
  217,564.26

  	
   

  	
  $

  	
  226,266.83

  	
   

  

 

1

 

Tamarac

 

	
  1/1/00

  	
  -

  	
  12/31/00

  	
  =

  	
  11,250
  x 6%

  	
  =

  	
  11,925
  x 12

  	
  =

  	
  143,100.00

  	
   

  	
   

  
	
  1/1/01

  	
  -

  	
  1/1/02

  	
  =

  	
  11,250
  x 4%

  	
  =

  	
  11,700
  x 6%

  	
  =

  	
  12,402
  x 12

  	
  =

  	
  148,824.00

  
	
  1/1/02

  	
  -

  	
  1/1/03

  	
  =

  	
  11,700
  x 4%

  	
  =

  	
  12,168
  x 6%

  	
  =

  	
  12,898.08
  x 12

  	
  =

  	
  154,776.96

  
	
  1/1/03

  	
  -

  	
  1/1/04

  	
  =

  	
  12,168
  x 4%

  	
  =

  	
  12,654.72
  x 6%

  	
  =

  	
  13,414.01
  x 12

  	
  =

  	
  160,968.12

  
	
  1/1/04

  	
  -

  	
  1/1/05

  	
  =

  	
  12,654.72
  x 4%

  	
  =

  	
  13,160.91
  x 6%

  	
  =

  	
  13,950.57
  x 12

  	
  =

  	
  167,406.84

  

 

Mr. Oet to do Lease

 

3/13/00  Base Rent new Cathy Newkeck                       3/15/01

 

                11,250Exhibit 10.33

 

FIRST AMENDMENT TO LEASE

 

This
FIRST AMENDMENT TO LEASE dated December 31, 2009 (this “Amendment”), is by
and between BONITA RADIATION ASSOCIATES, a Florida general partnership (“Landlord”),
and 21ST CENTURY ONCOLOGY, INC., a Florida corporation (“Tenant”).

 

WITNESSETH:

 

WHEREAS,
Landlord and Tenant are parties to that certain Lease dated January 8,
2001 (the “Lease”), for certain real property commonly known as 8991 Brighton
Lane, Bonita Springs, Florida, as more particularly described on Exhibit A,
attached hereto and made a part hereof; and

 

WHEREAS,
Landlord and Tenant desire to amend certain provisions of the Lease upon and
subject to the terms and conditions set forth herein.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, Landlord and Tenant hereby agree as follows:

 

1.                                      Insurance and
Indemnity. The third sentence of the “Liability Insurance” Section on
page 4 of the Lease is hereby deleted in its entirety and replaced with
the following:

 

The
liability insurance policy (other than any policy of worker’s compensation
insurance) shall name Landlord, any person, firms or corporations designated by
Landlord, and Tenant as insured, and shall contain a clause that the insurer will
not cancel or change the insurance without first giving the Landlord twenty
(20) days’ prior notice.

 

2.                                      Tenant’s
Fixtures and Improvements. The “Tenant’s Leasehold Improvements and
Trade Fixtures” Section commencing on page 9 of the Lease is hereby
amended by:

 

(a)                                 in the third
and fourth lines of the second paragraph, deleting the phrase “provided Tenant
shall not at such time be in default of any terms or covenants of this Lease,
and”; and

 

(b)                                 in the fifth
line of the second paragraph, deleting the word “further.”

 

3.                                      Destruction of
Premises. The third paragraph of the “Damage and Destruction”
Section on page 14 of the Lease is hereby deleted in its entirety and
replaced with the following:

 

Tenant
covenants and agrees to (i) equip and furnish the Premises as Tenant
reasonably deems necessary to operate the business from the Premises and (ii) reopen
for business in the Premises within thirty (30) days after notice from Landlord
that the Premises are ready for re-occupancy.

 

4.                                      Option to
Purchase the Property. The “Option to Purchase the Property” Section on
page 27 of the Lease is hereby deleted in its entirety.

 

1

 

5.                                      Defined Terms. Capitalized
terms used herein but not defined herein shall have the meanings ascribed to
them in the Lease.

 

6.                                      Governing Law. This
Amendment and the Lease shall be governed by and construed in accordance with
the laws of the State of Florida.

 

7.                                      Amendment. Neither this
Amendment nor any terms hereof may be amended, supplemented or modified except
by a written instrument executed by the parties hereto. This Amendment shall be
binding upon and shall inure to the benefit of the parties hereto and their
respective successors and assigns.

 

8.                                      Full Force and
Effect. The Lease shall continue in full force and effect except as modified
by this Amendment, and the Lease is hereby ratified and confirmed by Landlord
and Tenant. In the event of a conflict between the terms and conditions of the
Lease and this Amendment, the terms of this Amendment shall prevail.

 

9.                                      Counterparts. This
Amendment may be executed in counterparts, each of which shall be an original,
but all of which shall constitute one and the same Amendment.

 

[Remainder of page intentionally left blank;

signatures on following page.]

 

2

 

IN
WITNESS WHEREOF, Landlord and Tenant have caused this Amendment to be duly
executed as of the day, month and year first above written.

 

 

	
   

  	
   

  	
  LANDLORD:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BONITA RADIATION
  ASSOCIATES, a

  
	
   

  	
   

  	
  Florida general
  partnership

  
	
  Witness 1

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/ Authorized Signatory

  	
   

  	
  By:

  	
  /s/ Daniel E. Dosoretz

  
	
  Signature

  	
   

  	
  Name:

  	
  Daniel E. Dosoretz, MD

  
	
   

  	
   

  	
  Its:

  	
   

  
	
  Authorized Signatory

  	
   

  	
   

  
	
  Printed Name

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TENANT:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  21ST CENTURY
  ONCOLOGY, INC., a

  Florida corporation

  
	
  Witness 2

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/ Authorized Signatory

  	
   

  	
  By:

  	
  /s/ Bryan J. Carey

  
	
  Signature

  	
   

  	
  Name:

  	
  Bryan J. Carey

  
	
   

  	
   

  	
  Its:

  	
  EVP & CFO

  
	
  Authorized Signatory

  	
   

  	
   

  	
   

  
	
  Printed Name

  	
   

  	
   

  	
   

  

 

3

 

EXHIBIT A

 

Lot 7, Replat of Tract B and
C, Section 28, Commercial Community, according to plat thereof recorded in
Plat Book 60, Page 6, of the Public Records of Lee County, Florida.

 

4

 

LEASE

 

LANDLORD: BONITA RADIATION
ASSOCIATES, a Florida general partnership

 

TENANT: 21ST CENTURY
ONCOLOGY, INC., a Florida corporation

 

PREMISED BEING RENTED: 8991
Brighton Lane, Bonita Springs, Florida, with the following legal description:

 

Lot
7, Replat of Tract B and C, Section 28, Commercial Community, according to
plat thereof recorded in Plat

Book 60, Page 6, of the Public Records of Lee County, Florida.

 

This will be a net, net, net
lease and rental which covers taxes, insurance, repairs and replacements which
Tenant will pay.

 

NUMBER OF SQUARE FEET BEING
RENTED:

 

The number of square feet
being rented is 10,000 square feet at the rate of $34.52 per square foot.

 

MINIMUM RENT:

 

The first year’s rent will
be $345,200.00. The monthly rent will be $28,766.67 per month, plus Florida
Sales Tax, subject to increases with adjustments after the first year and any
increase in the Consumer Price Index.

 

ADDITIONAL RENT:

 

Tenant to pay for all real
property taxes, real property assessments, storm water or any other type of
assessments. Tenant to pay for its own insurance. Tenant to pay for all repairs
and replacements. Tenant to pay for common costs and common maintenance costs
based upon the square footage that they occupy in the building. This will all
be additional rent. The figures can be computed so that this additional rent,
plus sales tax, will be added on each month to the minimum rent aforementioned.
Tenant to pay for all taxes on its equipment and improvements.

 

CONSTRUCTION:

 

Landlord will erect a radiation
therapy center on the premises being leased. No rent to be paid by Tenant until
construction is completed and a certificate of occupancy is issued to the
Landlord. Tenant to have the right to inspect the premises prior to accepting
delivery of same. All this will be considered as part of the lease. The
radiation therapy center will be owned by the Tenant. If any improvements have
to be made both parties will agree who will pay for the same and there will be
an addendum attached to the lease. This page is considered part of the
lease.

 

 

LEASE

 

THIS
LEASE (“Lease”) is made and entered into as of the 8th day of January, 2001, by
and between, BONITA RADIATION ASSOCIATES, a Florida general partnership, (“Landlord”)
and 21ST CENTURY ONCOLOGY, INC., a Florida corporation, (“Tenant”)

 

W
I T N E S S E T H:

 

TERMS

 

General.
Pursuant to an agreement between Tenant and Landlord, Landlord shall
reconstruct the building currently on the property into a radiation center.
Pursuant to an agreement between the parties, Landlord shall retain ownership
of the building. Tenant has agreed to lease the building from the Landlord, and
Landlord has agreed to lease the building to Tenant, pursuant to this written
lease agreement.

 

Property.
Landlord hereby demises and leases to Tenant and Tenant hereby hires and rents
from Landlord the Property upon the terms, covenants and conditions set forth
herein, which Property has a Floor Area containing the approximate square
footage of 10,000 square feet. The legal description of the entire property
located at 8991 Brighton Lane, Bonita Springs, Florida is:

 

Lot
7, Replat of Tract B and C, Section 28, Commercial Community, according to
plat thereof recorded in Plat

Book 60, Page 6, of the Public Records of Lee County, Florida.

 

Use.
The Property in this Lease is to be used for a radiation therapy center.

 

Commencement of Term. The commencement of the Term
of this Lease under which Tenant shall be obligated to commence payment of
Minimum Rent and Additional Rent shall be the Rent Commencement Date. The
Landlord is currently renovating the building. When the Landlord obtains a
Certificate of Occupancy for the building a Commencement Date will be
determined. At that time, an Addendum will be prepared to show the Commencement
Date and the date the lease expires. Construction will take several months.
Tenant pays no rent until the parties sign an Addendum to lease the
aforementioned.

 

Length
of the Term. The term of this lease period is for ten (10) years starting
on the Commencement Date, which will be determined when the Landlord obtains a
Certificate of Occupancy from the City of Bonita Springs or Lee County.

 

RENT

 

Rent.
Minimum Rent shall be TWENTY-EIGHT THOUSAND SEVEN HUNDRED SIXTY-SIX and 67/100
DOLLARS ($28,766.67) per month plus Florida sales tax. Tenant shall pay to
Landlord without previous demand thereof and without any abatement, reduction,
setoff or deduction whatsoever, the Minimum Rent (together with any applicable
sales tax and local taxes if the same are ever required by law), payable in
equal monthly installments, in advance, on the first day of each and every
calendar month throughout the Term of this Lease. The first such monthly
installments of Minimum Rent shall be due and payable to Landlord no later than
the Commencement Date and each subsequent monthly installment shall be due and
payable to Landlord on the first day of each and every month following the
Commencement Date during the Term hereof. If the Commencement Date is a date
other than the first day of the month, Minimum Rent and other charges for the
period commencing with and including the Commencement Date through the first
day of the following month shall be prorated at the rate of one-thirtieth
(1/30) of the monthly Minimum Rent per day.

 

(2a)                          There will be
an increase in the Minimum Rent starting on the first anniversary of the lease
if the Consumer Price Index increases. The Minimum Rent specified in this lease
shall be subject to increase in accordance with changes in the Consumer Price
Index for Urban Wage Earners and Clerical Workers (CPI-W) as promulgated by the
Bureau of Labor Statistics of the United States Department of Labor, using the
year 2000 as a base of 100. On each anniversary date there will be a rent
adjustment based on the percentage increase in the Consumer Price Index. The
minimum will never be less than $28,766.67. If the Consumer Price Index goes
down the rent will not change for that year. Consumer Price Index increases
will apply on the anniversary date of each year of the lease term or renewal
term. The percentage increase in the Consumer Price Index will increase the
minium rent for that year.

 

(2b)                          In the event
that the Consumer Price Index ceases to incorporate significant number of
items, or if a substantial change is made in the method of establishing such
Consumer Price Index shall be adjusted to the figure that would have resulted
had no change occurred in the manner of computing such Consumer Price Index, or
a successor or substitute index, is not available, a reliable governmental or ether
nonpartisan publication, evaluating the information for use in determining the
Consumer Price Index, shall be used in lieu of such Consumer Price Index.

 

(3)                                 The annual
minium Rent is THREE HUNDRED FORTY-FIVE THOUSAND TWO HUNDRED and 00/100 DOLLARS
($345,200.00), for each year, unless changed by the increase in the Consumer
Price Index.

 

2

 

(4)                                 Any increase in
the Consumer Price Index after the first year of the Lease and every year
thereafter will be added to the Minimum Rent.

 

(5)                                 Real Estate tax
and insurance will be included as Additional Rent each and every month.

 

Late
Charge. Tenant shall pay to Landlord a late charge equal to five percent (5%)
of the monthly payment of Minimum Rent, Additional Rent and any other payment
or charge due hereunder if any such amount is received by Landlord more than
five (5) days after the same shall be due, such amount being the agreed
upon liquidated damages solely to defray the additional administrative expenses
incurred by Landlord in processing such payment.

 

Interest
on Past Due Rent. If Tenant shall fail to pay, when the same is due and
payable, Minimum Rent, or Additional Rent, such unpaid amounts shall bear
interest from the due date thereof to the date of payment, at the prime
interest rate of the Chase Manhattan Bank, N.A. as of such due date, plus three
percent (3%) (“Default Date”).

 

Definition
of Rent. The term “Rent” shall refer collectively to Minimum Rent and
Additional Rent. The term “Additional Rent” is sometimes used herein to refer
to any and all other sums payable by Tenant hereunder, including, but not
limited to, parking charges and sums payable on account of default by Tenant.
All Rent shall be paid by Tenant without offset, demand or other credit, and
shall be payable only in lawful money of the United States of America which
shall be legal tender in payment of all debts and dues, public and private, at
the time of payment. All sums payable by Tenant hereunder by check shall be
obtained against a financial institution located in the United States of
America. The rent shall be paid by Tenant to 21st Century Oncology, Inc.,
at 2234 Colonial Blvd., Fort Myers, FL 33907.

 

Rent
Taxes. In addition to Minimum Rent and Additional Rent, Tenant shall and hereby
agrees to pay to Landlord each month a sum equal to any sales tax, tax on
rentals and any other similar charges now existing or hereafter imposed, based
upon the privilege of leasing the space leased hereunder or based upon the
amount of rent collected therefor.

 

NET LEASE

 

Net
Lease. This Lease shall be deemed and construed to be a net-net Lease and,
except as herein otherwise expressly provided, the Landlord shall receive the
fixed Minimum Rent and Additional Rent and all other payments hereunder to be
made by the Tenant absolutely free from any charges, assessments, imposition,
expenses or deductions

 

3

 

of any kind and every kind
or nature whatsoever. Tenant is to pay for all real estate tax and assessments
on any and all taxes of any type of nature. Tenant is to pay for all insurance
and any and all costs for repairs, replacements, maintenance and improvements.
Tenant also is responsible for :

 

1)                                     To pay for
parking lot repairs, maintenance and replacements.

 

2)                                     To pay for and
install outside and inside lighting for parking.

 

3)                                     To pay for any
security, pest control or contracts for air conditioner and cleaning services, etc.
Copies of any and all contracts shall be furnished to the Landlord.

 

OPTION TO RENEW

 

Option
to renew. Provided that Tenant is not, and at no time has been, in default
during the Term under any of the covenants, terms, conditions, and provisions
of this Lease, then Tenant shall have the option to renew this Lease, for three
separate five (5) year option periods, provided that, in order to exercise
this Option to Renew, Tenant is required to give to Landlord written notice
thereof not less than six (6) months before the date of expiration of the
Term of this Lease or during any option period. Any renewal pursuant to this
Option shall be on the same terms and conditions as are contained in this
Lease.

 

INSURANCE AND INDEMNITY

 

Liability
Insurance. Tenant shall, during the entire term hereof, keep in full force and
effect bodily injury and public liability insurance in an amount not less than
THREE MILLION ($3,000,000.00) / ONE MILLION DOLLARS ($1,000,000.00) per injury
and accident, respectively; property damage insurance in an amount not less
than ONE MILLION DOLLARS ($1,000,000.00); and worker’s compensation insurance
in the maximum amount permitted under Florida law. Landlord may require such
insurance coverage to be increased after the first five years of the term of
this Lease, provided that such increase shall not cause the required limits of
coverage to exceed those then commonly prevailing in the marketplace for
similar situations. The policy(s) shall name Landlord, any person, firms
or corporations designated by Landlord, and Tenant as insured, and shall
contain a clause that the insurer will not cancel or change the insurance
without first giving the Landlord twenty (20) days prior notice. The insurance
shall be in an insurance company licensed by the State of Florida and a copy of
the policy or a certificate of insurance shall be delivered to Landlord prior
to the commencement of the term of this Lease. In no event shall the limits of
said insurance policies be considered as limiting the liability of Tenant under
this Lease. In the event that Tenant shall fail to

 

4

 

obtain or maintain in full
force and effect any insurance coverage required to be obtained by Tenant under
this Lease, Landlord may procure same from insurance carriers as Landlord may
deem proper, irrespective that a lesser premium for such insurance coverage may
have been obtained from another insurance carrier, and Tenant shall pay as
additional rent, upon demand of Landlord, any and all premiums, costs, charges
and expenses incurred or expended by Landlord in obtaining such insurance.
Notwithstanding shall procure insurance coverage required of Tenant hereunder,
Landlord shall in no manner be liable to Tenant for any insufficiency or
failure of coverage with regard to such insurance or any loss to Tenant
occasioned thereby, and additionally, the procurement of such insurance by
Landlord shall not relieve Tenant of its obligations under this Lease to
maintain insurance coverage in the types and amounts herein specified, and
Tenant shall nevertheless hold Landlord harmless from any loss or damage
incurred or suffered by Landlord from Tenant’s failure to maintain such
insurance.

 

Plat
Glass Insurance. The replacement of any plate glass damaged or broken from any
cause whatsoever in and about the Leased Premises shall be Tenant’s
responsibility. Tenant shall, during the entire term hereof, keep in full force
and effect a policy of plate glass insurance covering all the plate glass of
the Leased Premises, in amounts satisfactory to Landlord. The policy shall name
Landlord as additional insured and shall contain a clause that the insurer will
not cancel or change the insurance without first giving the Landlord twenty
(20) days prior notice. A copy of the policy together with the declarations page therefore
shall be delivered to Landlord prior to the commencement of the term of this
Lease.

 

Increases
in Fire Insurance Premium. Tenant agrees that it will not keep, use or sell in
or upon the Leased Premises any article, machinery or equipment which may be
prohibited by the standard form of fire and extended risk insurance policy.
Tenant agrees to pay any increase in premiums for fire and extended coverage
insurance that may be charged during the term of this Lease on the amount of
such insurance which may be carried by Landlord on the Leased Premises or the
building of which it is a part, resulting from the type of merchandise,
machinery or equipment sold or kept by Tenant in the Leased Premises or
resulting from Tenant’s use of the leased Premises, whether or not Landlord has
consented to the same.

 

Indemnification.
Tenant shall indemnify, defend and save Landlord harmless from and against any
and all claims, actions, damages, liability and expense in connection with loss
of life, personal injury and/or damage to or destruction of property arising
from or out of any occurrence in, upon or at the Leased Premises, or any part
thereof, or the

 

5

 

occupancy or use by Tenant
of the Leased Premises or any part thereof, or occasioned wholly or in part by
any act or omission of Tenant its agents, contractors, employees, servants,
lessees or concessionaires. Landlord shall indemnify, defend and save Tenant
harmless from and against any and all claims, actions, damages, liability and
expense in connection with loss of life, personal injury and/or damage to or
destruction of property arising from or out of any occurrence in, upon or at
the Leased Premises or in the Center occasioned in whole or in part by any
negligent act or omission by Landlord, its agents, contractors, employees,
servants or concessionaires. In case the indemnifying party shall be made a
party to any litigation commenced by or against the other party, then such
other party shall protect and hold the indemnified party harmless and pay all
costs and attorney’s fees incurred by the indemnified party in connection with
such litigation, and any appeals thereof. The defaulting party shall also pay
all costs, expenses and reasonable attorney’s fees that may be incurred or paid
by the other party in enforcing the covenants and agreements in this Lease.

 

UTILITIES

 

Utilities.
Tenant shall be solely responsible for and shall promptly pay all charges for
water, gas, electricity, garbage, and any other utility used and consumed in
the Leased Premises. In the event that such utilities charges, or any portion
thereof shall be separately metered for the Leased Premises, tenant shall pay
such meter charges directly to the utility company supplying such service. In
the event, however, that such utilities charges, or any portion thereof, shall
not be separately metered for the Leased Premises, tenant shall pay to Landlord
its pro rata share of such non-metered charges, which pro rata share shall be
equal to Tenant’s Proportionate Share of Building Assessments. If any such
charges are not paid when due, Landlord may, at its option pay the same, and
any amount so paid by Landlord shall thereupon become due to Landlord from
tenant as additional rent. In no event, however, shall Landlord be liable for
an interruption or failure in the supply of any such utilities to the Leased
Premises.

 

SUBORDINATION AND ATTORNMENT

 

Subordination.
Tenant hereby subordinates its rights hereunder to the lien of any ground or
underlying leases, any mortgage or mortgages, or the lien resulting from any
other method of financing or refinancing, now or hereafter in force against the
Property, the Center, and Building of which the Leased Premises is a part of
and to all advances made or hereafter to be made upon the security thereof.
This Section shall be self-operative and no further instrument of
subordination shall be required by any mortgagee,

 

6

 

but Tenant agrees upon
request of Landlord, from time to time, to promptly execute and deliver any and
all documents evidencing such subordination, and failure to do so shall
constitute a default under this Lease.

 

Attornment.
In the event any proceedings are brought for the foreclosure of, or in the
event of exercise of the power of sale under, any mortgage covering the Leased
Premises or in the event a deed is given in lieu of foreclosure of any such
mortgage, Tenant shall attorn to the purchaser, or grantee in lieu of
foreclosure, upon any such foreclosure or sale and recognize such purchaser, or
grantee in lieu of foreclosure, as the Landlord under this Lease.

 

Financing
Agreements. Tenant shall not enter into, execute or deliver any financing
agreement that can be considered as having priority to any mortgage or deed of
trust that Landlord may have placed upon the Leased Premises.

 

ASSIGNMENT AND SUBLETTING

 

Tenant
may not assign this lease in whole or in part, nor sublet all or any portion of
the Leased Premises, without the prior written consent of Landlord in each
instance. The consent by Landlord to any assignment or subletting shall not
constitute a waiver of the necessity for such consent to any subsequent
assignment or subletting. It is understood that Landlord may refuse to grant
consent to any assignment or subletting by Tenant with or without cause and
without stating in its refusal to grant such consent the reasons for which it
refuses to grant such consent and may not, under any circumstances, be required
or compelled to grant such consent. No assignment, under letting, occupancy or
collection shall be deemed acceptance of the assignee, subtenant or occupant as
Tenant, or a release of Tenant from the further performance by Tenant of the
covenants on the part of Tenant herein contained. This prohibition against any
assignment or subleasing by operation of law, legal process, receivership,
bankruptcy or otherwise, whether voluntary or involuntary and a prohibition
against any encumbrance of all and any part of Tenant’s leasehold interest.
Tenant shall remain fully liable on this Lease and shall not be released from
performing any of the terms, covenants and conditions hereof or any rents or
other sums to be paid hereunder. Tenant acknowledges and agrees that any and
all right and interest of the Landlord in and to the Leased Premises, the
Building and the Property, and all right and interest of the Landlord in this
Lease, may be conveyed, assigned or encumbered at the sole discretion of the
Landlord at any time.

 

7

 

FACILITIES

 

Control
of Common Areas by Landlord, All automobile parking areas, driveways, entrances
and exits thereto, and other facilities furnished by Landlord in or near the
Center, including employee parking areas, the truck way or ways, loading docks,
package pick-up stations, pedestrian sidewalks and ramps, landscaped areas,
exterior stairways, and other areas and improvements provided by Landlord for
the general use, in common, of tenants, their officers, agents, employees and
customers, shall at all times be subject to the exclusive control and
management of Landlord, and Landlord shall have the right from time to time to
establish, modify and enforce reasonable rules and regulations with
respect to all facilities and areas mentioned in this Article. Landlord shall
have the right to construct, maintain and operate lighting facilities on all
said areas and improvements; from time to time to change the area, level,
location and arrangement of parking areas and other facilities hereinabove
referred to and to restrict parking by tenants, their officers, agents and
employees to employee parking; areas. Landlord shall not have any duty to
police the traffic in the parking areas. There are about
                          
parking spaces available to Tenant. Tenant is to maintain and repair parking
and at Tenant’s expense.

 

TENANT’S FIXTURES AND IMPROVEMENTS

 

Alterations
by Tenant. Tenant shall not make any alterations, renovations, improvements or
other installations (collectively “Alterations”) in, on or to any part of the
Premises (including, without limitation, any alterations of the front, signs,
structural alterations, or any cutting or drilling into any part of the
Premises or any securing of any fixture, apparatus, or equipment of any kind to
any part of the Premises) unless and until Tenant shall have caused plans and
specifications therefor to have been prepared, at Tenant’s expense, by an
architect or other duly qualified person and shall have obtained Landlord’s
approval thereof. Tenant shall submit to Landlord detailed drawings and plans
of the proposed Alterations at the time Landlord’s approval is sought. If such
approval is granted, Tenant shall cause the work described in such plans and
specifications to be performed, at its expense, promptly, efficiently,
competently and in a good and workmanlike manner by duly qualified and licensed
persons or entities approved by Landlord, using first grade materials, without
interference with or disruption to the operations of tenants or other occupants
of the Center. All such work shall comply with all applicable codes, rules,
regulations and ordinances. The Tenant shall at all times maintain fire
insurance with extended coverage in an amount adequate to cover the cost of
replacement of all alterations, decorations, additions or improvements to the
Premises by Tenant in the event of fire or extended coverage loss. Tenant shall
deliver to the Landlord certificates of such fire insurance policies which
shall contain a clause requiring the insurer to give the Landlord ten (10) days
notice of cancellation of such policies.

 

8

 

Mechanic’s
Liens. No work performed by Tenant pursuant to this Lease, whether in the
nature of erection, construction, alteration or repair, shall be deemed to be
for the immediate use and benefit of Landlord so that no mechanic’s or other
lien shall be allowed against the estate of Landlord by reason of any consent
given by Landlord to Tenant to improve the Premises. Tenant shall place such
contractual provisions as Landlord may request in all contracts and
subcontracts for Tenant’s improvements assuring Landlord that no mechanic’s
liens will be asserted against Landlord’s interest in the Premises or the
property of which the Premises are a part. Said contracts and subcontracts
shall provide, among other things, the following: That notwithstanding anything
in said contracts or subcontracts to the contrary, Tenant’s contractors,
subcontractors, suppliers and materialmen (hereinafter collectively referred to
as “Contractors”) will perform the work and/or furnish the required materials
on the sole credit of Tenant; that no lien for labor or materials will be filed
or claimed by the Contractors against Landlord’s interest in the Premises or
the property of which the Premises are a part; that the Contractors will
immediately discharge any such lien filed by any of the Contractor’s suppliers,
laborers, materialmen or subcontractors; and that the Contractors will
indemnify and save Landlord harmless from any and all costs and expenses,
including reasonable attorney’s fees, suffered or incurred as a result of any
such lien against Landlord’s interest that may be filed or claimed in
connection with or arising out of work undertaken by the Contractors. Tenant
shall pay promptly all persons furnishing labor or materials with respect to
any work performed by Tenant or its Contractors on or about the Premises. If
any mechanic’s or other liens shall at any time be filed against the Premises
or the property of which the Premises are a part by reason of work, labor,
services or materials performed of furnished, or alleged to have been performed
or furnished, to Tenant or to anyone holding the Premises through or under
Tenant, and regardless of whether any such lien is asserted against the interest
of Landlord or Tenant, Tenant shall cause the same to be discharged of record
or bonded to the satisfaction of Landlord within thirty (20) days of notice of
such lien. If Tenant shall fail to cause such lien to be so discharged or
bonded after being notified of the filing thereof, then, in addition to being
an Event of Default and any other right or remedy of Landlord, Landlord may
bond or discharge the same by paying the amount claimed to be due, and the
amount so paid by Landlord, including reasonable attorneys’ fees incurred by
Landlord either in defending against such lien or in procuring the bonding or
discharge of such lien, together with interest thereon at the Default Rate,
shall be due and payable by Tenant to Landlord as Additional Rent.

 

Tenant’s
Leasehold Improvements and Trade Fixtures. All leasehold improvements as
distinguished from trade fixtures and apparatus) installed in the Premises at
any time, whether by or on behalf of Tenant or by or on behalf of Landlord,
shall not be removed from the Premises at any time, unless such removal is
consented to in advance by Landlord, and at the expiration of this Lease
(either on the Expiration Date

 

9

 

or upon such earlier
termination as provided in this Lease), all such leasehold improvements shall
be deemed to be part of the Premises, shall not be removed by Tenant when it
vacates the Premises, and title thereto shall vest solely in Landlord without
payment of any nature to Tenant.

 

All
trade fixtures and apparatus (as distinguished from leasehold improvements)
owned by Tenant and installed in the Premises shall remain the property of
Tenant and shall be removable at any time, including upon the expiration of the
Term; provided Tenant shall not at such time be in default of any terms or
covenants of this Lease, and provided further, that Tenant shall repair any
damage to the Premises caused by the removal of said trade fixtures and
apparatus and shall restore the Premises to substantially the same condition as
existed prior to the installation of said trade fixtures and apparatus and
shall restore the Premises to substantially the same condition as existed prior
to the installation of said trade fixtures and apparatus.

 

MAINTENANCE AND REPAIR OF PREMISES

 

Maintenance
by Tenant. Tenant shall at all times keep in good order, condition and repair
(which shall include the providing of replacements where necessary) the entire
Premises, including, without limitation, the roof, the exterior and all glass
and show window moldings; and all partitions, doors, interior walls, fixtures,
equipment and appurtenances thereto, including lighting, heating and plumbing
fixtures and any air conditioning system and sprinkler system situated within
and/or servicing the Premises. Said maintenance by Tenant shall include,
without limitation, periodic painting as is reasonably necessary. All cutting
and patching of the roof area required for any reason whatsoever shall be
performed by the Landlord’s roofing subcontractor. In the event that Tenant
causes such work to be performed by anyone other than the Landlord’s roofing
subcontractor, Landlord will have the right, at Tenant’s sole cost and expense
and without notice to Tenant, to cause said work and the roof area affected thereby
to be inspected and/or repaired by Landlord’s roofing subcontractor. All
repairs, replacements, or maintenance of any item or any type of the Premises
is the responsibility of the Tenant and to be paid for by Tenant.

 

SIGNS

 

On
or before the Commencement Date, Tenant will at its sole cost and expense
purchase and cause to be installed upon the exterior of the Premises a sign
which in all respects conforms to the criteria established by Landlord.
However, Tenant will not install said sign without first obtaining Landlord’s
written approval thereof. Thereafter, Tenant will not place or suffer to be
placed or maintain on any portion of the exterior (including windows) of the
Premises any sign, awning, canopy or advertising matter or other thing of any
kind, without first obtaining Landlord’s written approval and consent. Without
limitation as to the foregoing. Landlord specifically reserves the right at any
time

 

10

 

during the term of this
Lease to require Tenant to remove from the Premises any sign(s) situated
thereon and to replace same with a sign or signs which in all respects conform
to a sign standard designated by Landlord, all of which will be performed at
Tenant’s sole cost and expense. Tenant agrees to maintain any such sign,
awning, canopy, decoration, lettering, advertising matter or other thing as may
be approved in good condition and repair at all times and to repaint or replace
such signs from time to time when reasonably necessary and to illuminate such
signs in accordance with standards established by Landlord from time to time,
including hours of illumination. All signs in addition must be conform to code
and local ordinances rules, laws and regulations

 

WASTE AND GOVERNMENTAL REGULATIONS

 

Nuisance
or Waste. Tenant shall not commit or suffer to be committed any waste upon the
Premises or any nuisance or other act or thing which may disturb the quiet
enjoyment of any other tenant in the building in which the Premises may be
located, or in the Center.

 

Compliance
with Laws. Tenant, at its sole cost, will promptly comply with all applicable
laws, guidelines, rules, regulations and requirements, whether of federal,
state, or local origin, applicable to the Premises, and the Center, including,
but not limited to, the Americans with Disabilities Act, 42 U.S.C. Section 12101
et seq, and those for the correction, prevention and abatement of nuisance,
unsafe conditions, or other grievances arising from or pertaining to the use or
occupancy of the Premises or the Center. Tenant at its sole cost and expense
shall be solely responsible for taking any and all measures which are required
to comply with the requirements of the ADR within the Premises. Any Alterations
to the Premises made by or on behalf of Tenant for the purpose of complying
with the ADA or which otherwise require compliance with the ADA shall be done
in accordance with this Lease; provided, that Landlord’s consent to such
Alterations shall not constitute either Landlord’s assumption, in whole or in
part, of Tenant’s responsibility for compliance with the ADA, or representation
or confirmation by Landlord that such Alterations comply with the provisions of
the ADA.

 

Governmental
Regulations. Tenant shall, at Tenant’s sole costs and expense, comply with all
regulations of all county, municipal, state, federal and other applicable
governmental authorities, not in force or which may hereafter be in force,
pertaining to Tenant or its use of the Leased Premises, and shall faithfully
observe in the use of the Leased Premises all municipal and county ordinances
and state and federal statutes now in force or which may hereinafter be in
force. Tenant shall indemnify, defend and save Landlord harmless from
penalties, fines, costs, expenses suits, claims, or damages resulting from
Tenant’s failure to perform its obligations in this Section.

 

11

 

Rules and
Regulations. Landlord reserves the right from time to time to make reasonable rules and
regulations, governing loading of supplies, trash collection, pest control,
parking, noise, electrical overloads and similar issues of general concern to
all tenants in the event that the need therefor should ever arise. Notice of
such rules and regulations and amendments and supplements thereto, if any,
shall be given to the Tenant.

 

HAZARDOUS MATERIALS

 

Hazardous
Materials. Tenant shall not use or allow the Premises to be used for the
release, storage, use, treatment, disposal or other handling of any Hazardous
Materials, without the prior consent of Landlord. The term “Release” shall have
the same meaning as is ascribed to it in the Comprehensive Environmental
Response, Compensation and Liability Act, 42 U.S.C. Section 9601 et seq.,
as amended, (“CERCLA”). The term “Hazardous Materials” means (i) any
substance defined as a “hazardous substance” under CERCLA, (ii) petroleum,
petroleum products, natural gas, natural gas liquids, liquefied natural gas,
and synthetic gas, and (iii) any other substance or ‘material deemed to be
hazardous, dangerous, toxic, or a pollutant under any federal, state, or local
law code, ordinance or regulation (“Hazardous Materials Laws”).

 

Tenant
shall: (a) give prior notice to Landlord of any activity or operation to
be conducted by Tenant at the Premises which involves the Release, use,
handling, generation, treatment, storage, or disposal of any Hazardous
Materials (“Tenant’s Hazardous Materials Activity”); (b) comply with all
federal, state, and local laws, codes, ordinances, regulations, permits and
licensing conditions governing the Release, discharge, emission, or disposal of
any Hazardous Materials and prescribing methods for or other limitations on
storing, handling, or otherwise managing Hazardous Materials; (c) at its
own expense, promptly contain and remediate any Release of Hazardous Materials
arising from or related to Tenant’s Hazardous Materials Activity in the
Premises or the Center and remediate and pay for any resultant damage to
property, persons, and/or the environment, (d) give prompt notice to
Landlord, and all appropriate regulatory, authorities, of any Release of any
Hazardous Materials in the Premises, the Center Common Area arising from or
related to, Tenant’s Hazardous Materials Activity, which Release is not made
pursuant to and in conformance with the terms of any permit or license duly
issued by appropriate governmental authorities, any such notice to include a
description of “measures taken or proposed to be taken by Tenant to contain and
remediate the Release and any resultant damage to property, persons, or the
environment, (e) at Landlord’s request, which shall not be more frequent
than once per calendar year, retain an independent engineer or other qualified
consultant or, expert acceptable to Landlord, to conduct, at Tenant’s expense,
an environmental audit of the Premises and immediate surrounding areas, and the
scope of work to be performed by such engineer, consultant, or expert shall be
approved in advance by Landlord, and all of the engineer’s, consultant’s or
expert’s work product shall be made available to Landlord, (f) at

 

12

 

Landlord’s request from time
to time, executed affidavits, representations and the like concerning Tenant’s
best knowledge, and belief regarding the presence of Hazardous Materials in the
Premises, (g) reimburse to Landlord, upon demand, the reasonable cost of
any testing for the purpose of ascertaining if there has been any Release of
Hazardous Materials in the Premises, if such testing is required by any
governmental agency or Landlord’s Mortgagee, (h) upon expiration or
termination of this Lease, surrender the Premises to Landlord free from the
presence and contamination of any Hazardous Materials. Tenant shall indemnify,
protect, defend (by counsel reasonably acceptable to Landlord), and hold
Landlord and free and harmless from and against any and all claims,
liabilities, penalties, forfeitures, losses and expenses (including attorneys’
fees) or death of or injury to any person or damage to any property whatsoever,
including, without limitation, the Center Common Area, arising from or caused
in whole or in part, directly or indirectly, by the presence in or about the
Center of any of Tenant’s Hazardous Materials Activity or by Tenant’s failure
to comply with any Hazardous Materials Law regarding Tenant’s Hazardous
Materials Activity or in connection with any removal, remediation, clean up,
restoration and materials required hereunder to return the Premises and any
other property of whatever nature to their condition existing prior to Tenant’s
Hazardous Materials Activity.

 

Disclosure
Warning and Notice Obligations. Tenant shall comply with all laws, ordinances
and regulations in the State where the Premises is located regarding the
disclosure of the presence or danger of Tenant’s Hazardous Materials. Tenant
acknowledges and agrees that all reporting and warning obligations required
under the Hazardous Materials Laws with respect to Tenant’s Hazardous Materials
Activity are the sole responsibility of Tenant, whether or not such Hazardous
Materials Laws permit or require Landlord to provide such reporting or
warnings, and Tenant shall be solely responsible for complying with such
Hazardous Materials Laws regarding the disclosure of, the presence or danger of
Tenant’s Hazardous Materials Activity. Tenant shall immediately notify
Landlord, in writing, of any complaints, notices, warnings, reports or asserted
violations of which Tenant becomes aware relating to Hazardous Materials on or
about the Premises. Tenant shall also immediately notify Landlord if Tenant
knows or has reason to believe Tenant’s Hazardous Materials have or will be released
in or about the Center or the Premises.

 

Environmental
Tests and Audits. Tenant shall not perform or cause to be performed, any
Hazardous Materials surveys, studies, reports or inspection, relating to the
Premises without obtaining Landlord’s advance written consent, which consent
may be withheld in Landlord’s sole discretion. At any time prior to the
expiration of the Lease Term, Landlord shall have the right to enter upon the
Premises in order to conduct appropriate tests and to deliver to Tenant the
results of such tests to demonstrate that levels of any Hazardous Materials in
excess of permissible levels has occurred as a result of Tenant’s use of the
Premises.

 

13

 

Survival/Tenant’s
Obligations. The respective rights and obligations of Landlord and Tenant under
this Article shall survive the expiration or termination of this Lease.

 

DESTRUCTION OF PREMISES

 

Damage
and Destruction. If all or any part of the Premises shall be damaged or
destroyed by fire or other casualty, this Lease shall continue in full force
and effect, unless terminated as hereinafter provided, and Landlord shall
repair, restore or rebuild the Premises to the condition existing at the time
of the occurrence of the loss; provided, however, Landlord shall not be
obligated to commence such repair, restoration or rebuilding until insurance
proceeds are received by Landlord, and Landlord’s obligation hereunder shall be
limited to the proceeds actually received by Landlord under any insurance
policy or policies, if any, less those amounts (i) which have been
required to be applied towards the reduction of any indebtedness secured by a
mortgage covering the Center or any portion thereof and (ii) which are
used to reimburse Landlord for all costs and expenses, including but not
limited to attorneys’ fees, incurred by Landlord to recover any such insurance
proceeds.

 

Tenant
agrees to notify Landlord in writing not less than thirty (30) days prior, to
the date Tenant opens for business in the Premises of the actual cost of all
permanent leasehold improvements and betterments installed or to be installed
by Tenant in the Premises (whether same have been paid for entirely or
partially by Tenant), but exclusive, of. Tenant is personal property, movable
trade fixtures and inventory. Similar notifications shall be given to Landlord
not less than thirty (30) days prior to the commencement of any proposed
alterations, additions or improvements to the Premises. If Tenant fails to
comply, with the foregoing provisions, any loss or damage Landlord shall
sustain by reason thereof shall be borne by Tenant and shall be paid
immediately by Tenant upon receipt of a bill therefore and evidence of such
loss, and in addition to any other rights or remedies reserved by Landlord
under this Lease, Landlord’s obligations under this Article to repair,
replace and/or rebuild the Premises shall be deemed inapplicable, and in lieu
thereof, Landlord may, at its election, either restore or require Tenant to
restore the Premises to the condition which existed prior to such loss and in
either case Tenant shall pay the cost of such restoration.

 

Tenant
covenants and agrees to repair or replace Tenant’s fixtures, furniture,
furnishings, floor coverings, equipment and stock in trade and reopen for
business in the Premises within thirty (30) days after notice from Landlord
that the Premises are ready for re-occupancy.

 

No
damage or destruction to the Premises shall allow Tenant to surrender
possession of the Premises nor affect Tenant’s liability for the payment of
rents or charges or any other covenant herein contained, except as may be
specifically provided in this Lease.

 

14

 

Notwitnstanamg
anytnmg to the contrary contained in tnis Section or elsewhere in this
Lease, Landlord, at its option, may terminate this Lease by giving Tenant
notice thereof within one hundred and eighty (180) days from the date of the
casualty if:

 

(a)           The Premises or the building in which
the Premises are located shall be damaged or destroyed as a result of an
occurrence which is not covered by Landlord’s insurance; or

 

(b)           The Premises shall be damaged or
destroyed during the last two (2) years of the Term or any renewals
thereof; or

 

(c)           If by fire or other casualty the
Premises are damaged or destroyed to the extent of twenty five-percent (25%) or
more of the replacement cost thereof, or the Center is damaged or destroyed to
the extent of twenty-five per cent (25%) or more of the replacement cost
thereof, Landlord will have the option of terminating this Lease or any renewal
thereof by serving written notice upon Tenant and any prepaid Rent or
Additional Rent will be prorated as of the date of destruction and the unearned
portion of such Rent will be refunded to Tenant without interest.

 

(d)           Any or all of the buildings or Common
Areas of the Center are damaged (whether or not the Premises are damaged) to
such an extent that, in the sole judgment of Landlord, the Center cannot be
operated as an economically viable unit.

 

If
the Premises shall be damaged or destroyed and in the event that Landlord has
elected to continue this Lease, Landlord and Tenant shall commence their
respective obligations under this Article as soon as is reasonably
possible and prosecute the same to completion with all due diligence.

 

Except
where the damage or destruction results from the wrongful or negligent act or
omission of Tenant, the Minimum Rent shall be abated proportionately with the
degree to which Tenant’s use of the Premises is impaired during the period of
any damage, repair or restoration provided for in this Article 20;
provided further, that in the event Landlord elects to repair any damages as
herein contemplated, any abatement of Minimum Rent shall end ten (10) days
after notice by Landlord to Tenant that the Premises have been repaired. Tenant
shall continue the operation of its business on the Premises during any such
period to the extent reasonably practicable from the standpoint of prudent
business management, and any obligation of Tenant under the Lease to apply
charges reserved as Additional Rent or Percentage Rent shall remain in full
force and nothing in the Section shall be construed to abate Additional
Rent or Percentage Rent. Except for the abatement of Minimum Rent hereinabove
provided, Tenant shall not be entitled to any compensation or damage for loss
in the use of the whole or any part of the Premises and/or any inconvenience or
annoyance occasioned by any damage, destruction, repair or restoration, if
Minimum Rent is abated there shall be all corresponding and appropriate
reduction made to the Minimum Annual Volume.

 

Unless
this Lease is terminated by Landlord, Tenant shall repair, restore and
re-fixture all parts of the Premises not insured under any insurance policies
insuring Landlord in a manner and to a condition equal to that existing prior
to its destruction or

 

15

 

damage, including, without
limitation, all exterior signs, trade fixtures, equipment, display cases,
furniture, furnishings and other installations of personality of Tenant. The
proceeds of all insurance carried by Tenant on its property and improvements
shall be held in trust by Tenant for the purpose of said repair and
replacement. Tenant shall give to Landlord prompt written notice of, any damage
to or destruction of any portion of the Premises resulting from fire or other
casualty.

 

EMINENT DOMAIN

 

Total
Condemnation of Premises. If the whole of the Premises shall be acquired or
condemned by eminent domain for any public or quasi-public use or purpose, then
the Term of this Lease shall cease and terminate as of the date of title
vesting in such proceeding and all rentals shall be paid up to that date.

 

Partial
Condemnation of Premises. A. If twenty (20%) percent or more of the Premises
shall be acquired or condemned by eminent domain for any public or quasi-public
use or purpose, then the Tenant shall have the option to cancel and terminate
this Lease upon notice thereof given to the Landlord within ninety (90) days
after the vesting of title in such proceeding.

 

B.            In the event that less than ten
(10%) percent of the Premises shall be acquired or condemned by eminent domain
for any public or quasi-public use or purpose, or in the event ten (10%)
percent or more of the Premises shall have been so taken, and Tenant shall not
elect to terminate this Lease as set forth above, then the Landlord shall
promptly restore the Premises to a condition reasonably comparable under the
circumstances to its condition at the time of such condemnation, less the
portion lost in the taking; and this Lease shall thereafter continue in full
force and effect. In such event of a partial taking, described hereinabove,
from the effective date that physical possession is taken by the condemning
authority through the end of the term of this Lease, the annual Minimum Rent
payable by Tenant to Landlord shall be reduced by a fraction, the numerator of
which shall be the gross area of the premises so taken by the condemning authority
and the denominator of which shall be the gross area of the Premises on the
date immediately prior to the effective date of such taking.

 

Total
Condemnation of Parking Area. If the whole of the common parking areas in the
Center shall be acquired or condemned by eminent domain for any public or
quasi-public use or purpose, then the term of this Lease shall cease and
terminate as of the date of title vesting in such proceeding.

 

16

 

Partial
Condemnation of Parking Area. If twenty (20%) percent or more of the common
parking areas in the Center shall be acquired or condemned by eminent domain
for any public or quasi-public use or purpose, then the Tenant shall have the
option to cancel and terminate this Lease upon notice thereof given to the
Landlord within ninety (90) days after the vesting of title in such proceeding.

 

If
less than twenty (20%) percent of the parking areas in the Center shall be
acquired or condemned by eminent domain for any public or quasi-public use or
purpose, or if more than twenty (20%) percent of the parking areas shall be so
acquired or condemned, but Tenant shall not elect to cancel and terminate this
Lease, then the Landlord shall restore the parking areas to a condition
reasonably comparable under the circumstances to its condition at the time of
such condemnation, less the portion lost in the taking. In such event, this
Lease shall be and remain in full force and effect and no reduction of Minimum
Rent, Percentage Rent or any Additional Rent payable by Tenant under this Lease
shall be allowed in such circumstances, but Tenant shall continue to pay the
full Minimum Rent, Percentage Rent, or any Additional Rent payable under this
Lease for the balance of the term hereof.

 

DEFAULTS

 

Events
of Default By Tenant. If (1) Tenant vacates, abandons or surrenders all or
any part of the Premises prior to the expiration of the Term of the Lease or (2) Tenant
fails to fulfill any of the terms or conditions of this Lease or any other
lease heretofore made by Tenant for space in the Center or (3) the
appointment of a trustee or a receiver to take possession of all or
substantially all of Tenant’s assets occurs, or if the attachment, execution or
other judicial seizure of all or substantially all of Tenant’s assets located
at the Premises, or of Tenant’s interest in this Lease, occurs, or (4) Tenant
or any of its successors or assigns or any guarantor of this Lease (“Guarantor”)
should file any voluntary petition in bankruptcy, reorganization or arrangement,
or an assignment for the benefit of creditors or for similar relief under any
present or future statute, law or regulation relating to relief of debtors, or (5) Tenant
or any of its successors or assigns or any Guarantor should be adjudicated bankrupt
or have an involuntary petition in bankruptcy, reorganization or arrangement
filed against it, or (6) Tenant shall permit, allow or suffer to exist any
lien, judgment, writ, assessment, charge, attachment or execution upon Landlord’s
or Tenant’s interest in this Lease or to the Premises, and/or the fixtures,
improvements and furnishings located thereon; then, Tenant shall be in default
hereunder.

 

Tenant’s
Grace Periods. If (1) Tenant fails to pay Rent or Additional Rent within
five (5) days after notice from Landlord of delinquency or (2) Tenant
fails to cure any other default within ten (10) days after notice faith),
then Landlord shall have such remedies as are provided under this Lease and/or
under the laws of the State in which the Center is located.

 

17

 

Repeated
Late Payment. Regardless of the number of times of Landlord’s prior acceptance
of late payments and/or late charges, (i) if Landlord notifies Tenant
twice in any 6-month period that Minimum Rent, Percentage Rent or any
Additional Rent has not been paid when due, then any other late payment within
such 6-month period shall automatically constitute a default hereunder without
the necessity of notice and (ii) the mere acceptance by Landlord of late
payments in the past shall not, regardless of any applicable laws to the
contrary, thereafter be deemed to waive Landlord’s right to strictly enforce
this Lease, including Tenant’s obligation to make payment of Rent on the exact
day same is due, against Tenant.

 

Landlord’s
Default. If Tenant asserts that Landlord has failed to meet any of its
obligations under this Lease, Tenant shall provide written notice (“Notice of
Default”) to Landlord specifying the alleged failure to perform, and Tenant
shall send by certified mail, return receipt requested, a copy of such Notice
of Default to any and all mortgage holders, provided that Tenant has been
previously advised of the addresses) of such mortgage holder(s). Landlord shall
have a thirty (30) day period after receipt of the Notice of Default in which
to commence curing any non-performance by Landlord, and Landlord shall have as
much time thereafter to complete such cure as is necessary so long as Landlord’s
cure efforts are diligent and continuous, if Landlord has not begun the cure
within thirty (30) days of receipt of the Notice of Default, or Landlord does
not thereafter diligently and continuously attempt to cure, then Landlord shall
be in default under this Lease, if Landlord is in default under this Lease,
then the mortgage holder(s) shall have an additional thirty (30) days,
after receipt of a second written notice from Tenant, within which to cure such
default or, if such default cannot be cured within that time, then such
additional time as may be necessary so long as their efforts are diligent and
continuous.

 

LANDLORD’S REMEDIES FOR TENANT’S DEFAULT.

 

Landlord’s
Options. If Tenant is in default of this Lease, Landlord may, at its option, in
addition to such other remedies as may be available under the law of the State
where the Center is located:

 

1.             Terminate this Lease and Tenant’s
right of possession; or

 

2.             Terminate Tenant’s right to
possession but not the Lease and/or proceed in accordance with any and all
provisions of paragraph B below.

 

Landlord’s
Remedies. Landlord may without further notice reenter the Premises either by
force or otherwise and dispossess Tenant by summary proceedings or otherwise,
as well as the legal representatives) of Tenant and/or other occupants) of the
Premises, and remove their effects and hold the Premises as if this Lease had
not

 

18

 

been made, and Tenant hereby
waives the service of notice of intention to re-enter or to institute legal
proceedings to that end; and/or at Landlord’s option.

 

All
Rent and all Additional Rent for the balance of the Term will, at the election
of Landlord, be accelerated and the present worth of same for the balance of
the Lease Term, net of amounts actually collected by Landlord, shall become
immediately due thereupon and be paid, together with all expenses of every
nature which Landlord may incur such as (by way of illustration and not
limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing
the Premises in good order or preparing them for re-rental. For purposes of
this clause (2), “present worth” shall be computed by discounting such amount
to present worth at a discount rate equal to one percentage point above the
discount rate then in effect at the Federal Reserve Bank nearest to the
location of the Center. If such termination shall take place after the
expiration of two or more Lease Years, then, for purposes of computing the
accelerated Rent, the Annual Percentage Rent payable with respect to each Lease
Year following termination (including the Lease Year in which such termination
shall take place) shall be conclusively presumed to be equal to the average
Annual Percentage Rent payable with respect to each complete Lease Year
preceding termination. If such termination shall take place before the
expiration of two Lease Years, then, for purposes of computing the accelerated
Rent, the Annual Percentage Rent payable with respect to each Lease Year
following termination (including the Lease Year in which such the unexpired
Term shall be conclusively presumed to be a sum equal to twenty-five percent
(25%) of the annual Minimum Rent due and payable during such unexpired Term;
and/or at Landlord’s option.

 

Landlord
may re-let the Premises or any part thereof, either in the name of Landlord or
otherwise, for a term or terms which may at Landlord’s option be less than or
exceed the period which would otherwise have constituted the balance of the
Lease Term, and may grant concessions or free rent or charge a higher rental
than that reserved in this Lease; and/or at Landlord’s option.

 

Tenant
or its legal representatives will also pay to Landlord as liquidated damages
any deficiency between the Rent and all Additional Rent hereby reserved and/or
agreed to be paid and the net amount, if any, of the rents collected on account
of the lease or leases of the Premises for each month of the period which would
otherwise have constituted the balance of the Lease Term.

 

If
Landlord exercises the remedy above, and provided that Tenant has paid Landlord
the accelerated Rent as required by this paragraph, Landlord shall remit to
Tenant on a monthly basis until the Expiration Date any amounts actually
collected by Landlord as a result of a re-letting remaining after subtracting
therefrom all reasonable costs paid by Landlord to secure a replacement tenant
including reasonable marketing/leasing costs, fees and commissions, and costs
of preparing improvements and refurbishment to the Premises for the replacement
tenant. In no event shall the total amount paid to Tenant pursuant to the
preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If
this Lease is terminated pursuant to Section 23.5(A) (2)

 

19

 

Landlord may re-let the
Premises or any part thereof, alone or together with other premises, for such
term or terms (which may be greater or less than the period which otherwise
would have constituted the balance of the Term) and on such terms and
conditions (which may include concessions or free rent and alterations of the
Premises) as Landlord, in its sole discretion, may determine, but Landlord
shall not be liable for nor shall Tenant’s obligations hereunder be diminished
by reason of, any failure by Landlord to re-let the Premises or any failure by
Landlord to collect any rent due upon such re-letting.

 

Waiver
of Jury Trial. To the extent permitted by law, Tenant hereby waives: (a) jury
trial in any action or proceeding regarding a monetary default by Tenant and/or
Landlord’s right to possession of the Premises, and (b) in any action or
proceeding by Landlord for eviction where Landlord has also filed a separate
action for damages, Tenant waives the right to interpose any counterclaim in
such eviction action. Moreover, Tenant agrees that it shall not interpose or
maintain any counterclaim in such damages action unless it pays and continues
to pay all Rent, as and when due, into the registry of the court in which the
damages action is filed.

 

Waiver
of Rights of Redemption. Tenant hereby expressly waives any and all rights of
redemption granted by or under any present or future laws in the event of
Tenant being evicted or dispossessed for any cause, or in the event of Landlord
obtaining possession of the Premises, by reason of the violation by Tenant of
any of the covenants or conditions of this Lease or otherwise.

 

BANKRUPTCY PROVISIONS

 

Event
of Bankruptcy. If this Lease is assigned to any person or entity pursuant to
the provisions of the United States Bankruptcy Code, 11 U.S.C. Section 101
et seq, (the “Bankruptcy Code”), any and all monies or other consideration
payable or otherwise to be delivered in connection with such assignment shall
be paid or delivered to Landlord, shall be and remain the exclusive property of
Landlord, and shall not constitute the property of Tenant or of the estate of
Tenant within the meaning of the Bankruptcy Code. Any and all monies or other
considerations constituting Landlord’s property under this Section not
paid or delivered to Landlord shall be held in trust for the benefit of
Landlord and shall be promptly paid or delivered to Landlord. Any person or
entity to which this Lease is assigned pursuant to the provisions of the
Bankruptcy Code shall be deemed without further act or deed to have assumed all
of the obligations arising under this Lease on and after the date of such
assignment.

 

20

 

Additional
Remedies. In addition to any rights or remedies hereinbefore or hereinafter
conferred upon Landlord under the terms of this Lease, the following remedies
and provisions shall specifically apply in the event Tenant is in default of
this Lease:

 

(1)    In
all events, any receiver or trustee in bankruptcy shall either expressly assume
or reject this Lease within sixty (60) days following the entry of an “Order
for Relief” or within such earlier time as may be provided by applicable law.

 

(2)    In
the event of an assumption of this Lease— by a debtor or by a trustee, such
debtor or trustee shall within fifteen (15) days after such assumption (i) cure
any default or provide adequate assurance that defaults will be promptly cured;
(ii) compensate Landlord for actual pecuniary loss or provide adequate
assurance that compensation will be made for actual monetary loss, including,
but not limited to, all attorneys’ fees and costs incurred by Landlord
resulting from any such proceedings; and (iii) provide adequate assurance
of future performance.

 

(3)    Where
a default exists under this Lease, the trustee or debtor assuming this Lease
may not require Landlord to provide services or supplies incidental to this
Lease before its assumption by such trustee or debtor, unless Landlord is
compensated under the terms of this Lease for such services and supplies
provided before the assumption of such Lease.

 

(4)    The
debtor or trustee may only assign this Lease if (i) it is assumed and the
assignee agrees to be bound by this Lease, (ii) adequate assurance of
future performance by the assignee is provided, whether or not there has been a
default under this Lease, and (iii) the debtor or trustee has received
Landlord’s prior written consent pursuant to the provisions of this Lease. Any
consideration paid by any assignee in excess of the rental reserved in this
Lease shall be the sole property of, and paid to, Landlord.

 

(5)    Landlord
shall be entitled to the fair market value for the Premises and the services
provided by Landlord (but in no event less than the rental reserved in this
Lease) subsequent to the commencement of a bankruptcy event.

 

(6)    Any
security deposit given by Tenant to Landlord to secure the future performance
by Tenant of all or any of the terms and conditions of this Lease shall be
automatically transferred to Landlord upon the entry of an “Order of Relief”.

 

(7)    The
parties agree that Landlord is entitled to adequate assurance of future
performance of the terms and provisions of this Lease in the event of an
assignment under the provisions of the Bankruptcy Code. For purposes of any
such assumption or assignment of this Lease, the parties agree that the term “adequate
assurance” shall include, without limitation, at least the following: (i) any
proposed assignee must have, as demonstrated to Landlord’s satisfaction, a net
worth (as defined in accordance with generally accepted accounting principles
consistently applied) in an amount sufficient to assure that the proposed
assignee will have the resources to meet the financial

 

21

 

responsibilities under this
Lease, including the payment of all Rent; the financial condition and resources
of Tenant are material inducements to Landlord entering into this Lease; (ii) any
proposed assignee must have engaged in the Use described in Section 1.11
for at least five (5) years prior to any such proposed assignment, the
parties hereby acknowledging that in entering into this Lease, Landlord
considered extensively Tenant’s permitted use and determined that such
permitted business would add substantially to the tenant balance in the Center,
and were it not for Tenant’s agreement to operate only Tenant’s permitted
business on the Premises, Landlord would not have entered into this Lease, and
that Landlord’s operation of the Center will be materially impaired if a
trustee in bankruptcy or any assignee of this Lease operates any business other
than Tenant’s permitted business; (iii) any assumption of this Lease by a
proposed assignee shall not adversely affect Landlord’s relationship with any
of the remaining tenants in the Center taking into consideration any and all
other “use” clauses and/or “exclusivity” clauses which may then exist under
their leases with Landlord; and (iv) any proposed assignee must not be
engaged in any business or activity which it will conduct on the Premises and
which will subject the Premises to contamination by any Hazardous Materials.

 

LIMITATIONS OF LANDLORD’S LIABILITY

 

The
term “Landlord” as used in this Lease, so far as covenants or obligations on
the part of the Landlord are concerned shall be limited to mean and include
only a ground lessee if the named Landlord herein is holding the premises under
a ground lease for so long as the named Landlord is the holder of such ground
lease interest or the owner or owners of the fee simple of the Premises; and in
the event of transfer or transfers of either the ground leasehold interest to
any other person or the transfer of title to the fee premises to any person,
the Landlord herein named (and in the case of subsequent transfers or
conveyances the then grantor or assignor), shall be automatically freed and
relieved from and after the date of such transfer or conveyance or assignment
of all liability as respects the performance of any covenant or obligation on
the part of the Landlord contained in this Lease thereafter to be performed, it
being the intention of the parties that the covenants and obligations to be
observed and performed by the-Landlord shall be binding upon the Landlord only
during and in respect of its period of ownership of either a leasehold
interest, or a fee interest as the case may be. Anything in this Lease to the
contrary notwithstanding, Tenant agrees that Tenant shall, subject to prior
rights of any mortgagee of the Center, look solely to the estate and property
of Landlord in the Center for the collection of any judgment (or other judicial
process) requiring the payment of money by Landlord in the event of any default
or breach by Landlord with respect to any of the terms, covenants and
conditions of this Lease to be observed and/or performed by Landlord, and no
other assets of Landlord or any principal of Landlord shall be subject to levy,
execution or other procedures for the satisfaction of Tenant’s remedies.

 

22

 

ACCESS BY LANDLORD

 

Landlord
or Landlord’s agents shall have the right to enter the Premises at all times to
examine the same and to show them to prospective purchasers of the building,
and to make such repairs, alterations, improvements or additions as Landlord
may deem necessary or desirable, and Landlord shall be allowed to take all
material into and upon said premises that may be required therefor, without the
same constituting an eviction of Tenant in whole or in part and the Rent
reserved shall in no way abate while said repairs, alterations, improvements,
or additions are being made, by reason of loss or interruption of business of
Tenant, or otherwise. During the six (6) month period prior to the
expiration of the term of this Lease or any renewal term, Landlord may exhibit
the Premises to prospective tenants or purchasers, and place upon the premises
the usual notices “To Let” or “For Sale” which notices Tenant shall permit to
remain thereon without molestation. Nothing herein contained, however, shall be
deemed or construed to impose upon Landlord any obligation, responsibility or
liability whatsoever, for the care, maintenance, or repair of the Premises or
any part thereof, except as otherwise herein specifically provided. Landlord to
give Tenant reasonable notice during business hours prior to any entry.

 

QUIET ENJOYMENT

 

Landlord’s
Covenant. Upon payment by the Tenant of the rents and other charges herein
provided, and upon the observance and performance of all the covenants, terms
and conditions on Tenant’s part to be observed and performed, Tenant shall
peaceably and quietly hold and enjoy the Leased Premises for the term hereby
demised without hindrance or interruption by Landlord or any other person or
persons lawfully or equitably claiming by, through or under the Landlord,
subject, nevertheless, to the terms and conditions of this Lease.

 

MISCELLANEOUS

 

Accord
and Satisfaction. No payment by Tenant or receipt by Landlord of a lesser
amount than the rent herein stipulated to be paid shall be deemed to be other
than on account of the earliest stipulated rent, nor shall any endorsement or
statement on any check or any letter accompanying any check or payment as rent
be deemed an accord and satisfaction, and Landlord may accept such check or
payment without prejudice to Landlord’s right to recover the balance of such
rent or pursue any other remedy provided herein or by law.

 

23

 

Entire
Agreement. This lease and the Exhibits attached hereto and forming a part
thereof as if fully set forth herein, constitute all covenants, promises,
agreements, conditions and understandings betvjeen Landlord and Tenant concerning
the Leased Premises and the Building and there are no covenants, promises,
conditions or understandings, either oral or written, between them other than
are herein set forth. Neither Landlord nor Landlord’s agents have made nor
shall be bound to any representations with respect to the Leased Premises or
the Building except as herein expressly set forth, and all representations,
either oral or written, shall be deemed to be merged into this Lease Agreement.
Except as herein otherwise provided, no subsequent alteration change or
addition to this lease shall be binding upon Landlord or Tenant unless reduced
to writing and signed by them.

 

Notices.
(a) Any notice by Tenant to Landlord must be served by certified mail
return requested, addressed to Landlord at the address first hereinabove given
or at such other address as Landlord may designate by written notice. Tenant
shall also provide copies of any notice given to Landlord to such mortgagees,
agents or attorneys of Landlord as Landlord may direct.

 

(b) After
commencement of the term hereof any notice by Landlord to Tenant shall be
served by certified mail, return receipt requested addressed to Tenant at the
Leased Premises or at such other address as Tenant shall designate by written
notice, or by delivery by Landlord to the Leased Premises or to such other
address.

 

	
  Landlord:

  	
   

  	
  Tenant:

  
	
  Bonita Radiation
  Associates

  	
   

  	
  21st Century Oncology, Inc.

  
	
  8991 Brighton Lane

  	
   

  	
  2234 Colonial Blvd.

  
	
  Bonita Springs, FL

  	
   

  	
  Fort Myers, FL 33907

  

 

(c) All
notices given hereunder shall be in writing, and shall be effective and deemed
to have been given only upon receipt by the party to which notice is being
given, said receipt being deemed to have occurred upon hand delivery or
posting, or upon such date as the postal authorities shall show the notice to
have been delivered, refused, or undeliverable, as evidenced by the return
receipt. Notwithstanding any other provision hereof, Landlord shall also have
the right to give notice to Tenant in any other manner provided by law.

 

24

 

Successors.
All rights and liabilities herein given to, or imposed upon, the respective
parties hereto shall extend to and bind the several respective heirs, legal
representatives, and permitted successors and assigns of the said parties; and
if there shall be more than one person or party constituting the Tenant, they
shall be bound jointly and severally by the terms, covenants and agreements
herein. No rights, however, shall inure to the benefit of any assignee of
Tenant unless the assignment to such has been approved by Landlord in writing
as provided herein. Nothing contained in this Lease shall in any manner
restrict Landlord’s right to assign or encumber this Lease and, in the event
Landlord sells its interest in the Building and the purchaser assumes Landlord’s
obligations and covenant, Landlord shall thereupon be relieved of all further
obligations hereunder.

 

Captions
and Section Numbers. The captions, section numbers, and article numbers
appearing in this Lease are inserted only as a matter of convenience and in no
way define, limit, construe, or describe the scope or intent of such sections
or articles of this Lease nor in any way affect this Lease.

 

Broker’s
Commission. The Tenant represents and warrants to Landlord that it has dealt
with no real estate broker, agent, salesperson or finder in connection with
this Lease or the Leased Premises.

 

Partial
Invalidity. If any term, covenant I or condition of this Lease or the
application thereof to any person or circumstances shall, to any extent, be
invalid or unenforceable, the remainder of this Lease the application of such
term, covenant or condition to persons or circumstances other than those as to
which it is held invalid or unenforceable, shall not be affected thereby and
each term, covenant or condition of this Lease shall be valid and enforceable
to the fullest extent permitted by law.

 

Estoppel
Certificate. Landlord and Tenant agree that each will, at any time and from
time to time, within ten (10) days following written notice by the other
party hereto specifying that it is given pursuant to this Section, execute,
acknowledge and deliver to the party who gave such notice, or its designate, a
statement in writing certifying that this Lease is unmodified and in full force
and effect (or if there have been modifications, that the same is in full force
and effect and stating the modifications), and the date to which the annual
rent and any other payments due hereunder from Tenant have been paid in advance,
if any, and stating whether or not there are defenses or offsets claimed by the
maker of the certificate and whether or not to the best of knowledge of the
signer of such certificate the other party is in default in performance of any
covenant agreement or condition contained in this Lease, and if so, Specifying
each such default of which the

 

25

 

maker may have knowledge and
if requested, such financial information concerning Tenant and Tenant’s business
operations (and the Guarantor of this Lease, if this Lease be guaranteed) as
may be reasonably requested by any Mortgagee or prospective mortgagee or
purchaser. The failure of either party to execute, acknowledge and deliver to
the other a statement in accordance with the provisions of this Section within
said ten (10) business day period shall constitute an acknowledgment, by
the party given such notice, which may be relied on by any person holding or
proposing to acquire an interest in the Building or any party thereof or the
Leased Premises or this Lease from or through the other party, that this Lease
is unmodified and in full force and effect and that such rents have been duly
and fully paid to an including the respective due dates immediately preceding
the date of such notice and shall constitute, as to any person entitled as
aforesaid to rely upon such statements, waiver of any defaults which may exist
prior to the date of such notice; provided, however that nothing contained in
the provision of this Section shall constitute waiver by Landlord of any
default in payment of rent or other charges existing as of the date of such
notice and, unless expressly consented to in writing by Landlord, and Tenant
shall still remain liable for the same.

 

Liability
of Landlord. Tenant shall look solely to the estate and property of the
Landlord in the Building for the collection of any judgment, or in connection
with any other judicial process, requiring the payment of money by Landlord in
the event of any default by Landlord with respect to any of the terms,
covenants and conditions of this Lease to be observed and performed by
Landlord, and no other property or estates of Landlord shall be subject to
levy, execution or other enforcement procedures for the satisfaction of Tenant’s
remedies and rights under this Lease. Both parties waive a jury trial if any
litigation arises.

 

Recordings,
Tenant shall not record this Lease, or any memorandum or short form thereof,
without the written consent and joinder of Landlord.

 

Time
of Essence. Time is of the essence with respect to the performance of every
provision of this Lease in which time of performance is a factor.

 

TENANT’S PROPERTY

 

Taxes
on Leasehold. Tenant shall be responsible for and shall pay before delinquency
all municipal, county or state taxes assessed during the terra of this Lease
against any leasehold interest or personal property of any kind, owned by or
placed in, upon or about the Premises by the Tenant.

 

26

 

Personal
Property. Landlord shall not be liable for any damage to property of Tenant or
of others located on the Premises, nor for the loss of or damage to any
property of Tenant or of others by theft or otherwise. Landlord shall not be
liable for any injury or damage to persons or property resulting from fire,
explosion, falling piaster, steam, gas, electricity, water, rain, or snow or
leaks from any part of the Premises or from the pipes, appliances or plumbing
works or from the roof, street or subsurface or from any other place or by
dampness or by any other cause of whatsoever nature. Landlord shall not be
liable for any such damage caused by other tenants or persons in the Premises,
occupants of adjacent property, of the Center, or the public, or caused by
operation in construction of any private, public or quasi-public work. All
property of Tenant kept or stored on the Premises shall be so kept or stored at
the sole risk of Tenant only.

 

Notice
by Tenant. Tenant shall give immediate notice to Landlord in case of fire or
accidents in the Premises or in the building of which the Premises are a part
or of defects therein or in any fixtures or equipment.

 

HOLDING OVER SUCCESSORS

 

Surrender
of Premises. At the expiration of the tenancy hereby created, Tenant shall
surrender the Premises in the same condition as the Premises were in upon the
Commencement Date, reasonable wear and tear excepted, and damage by unavoidable
casualty excepted, and shall surrender all keys for the Premises to Landlord at
the place then fixed for the payment of rent and shall inform Landlord of all
combinations on locks, safes and vaults, if any, in the Premises. Tenant shall
remove all its trade fixtures before surrendering the premises as aforesaid and
shall repair any damage to the Premises caused thereby. Tenant’s obligation to
observe or perform this covenant shall survive the expiration or other
termination of the term of this Lease.

 

OPTION TO PURCHASE THE PROPERTY

 

Option
to Purchase the Property. Tenant shall have the option to purchase the property
after the first 3 years of the lease. Tenant must not be in default to exercise
this option after the third year. Purchase Price of the property, if option is
exercised by the Tenant will be the cost of the property to the Landlord, plus
closing costs at the time of closing, plus the increase in the Consumer Price
Index from January 1, 1999, the beginning of the Lease. Tenant must notify
Landlord by certified mail, if they chose this option to purchase the property
and of the terms and conditions.

 

27

 

ATTORNEY FEES AND COSTS

 

Attorney
Fees and Costs. In the event of a lawsuit or litigation concerning this Lease
or enforcement of this Lease the prevailing party shall be entitled to reasonable
attorney fees and costs. This will also cover appellant fees and appellant
costs.

 

IN
WITNESS WHEREOF, the undersigned has hereunto set his hand and seal on 10th day
of JANUARY 2001.

 

Signed, sealed and delivered in the presence
of:

 

	
  /s/ MARIA M. SUAREZ

  	
   

  	
  LANDLORD:

  
	
  Signature

  	
   

  	
  BONITA RADIATION
  ASSOCIATES,

  a Florida general partnership

  
	
  MARIA M. SUAREZ

  	
   

  	
   

  
	
  Print Name

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Daniel E. Dosoretz

  
	
   

  	
   

  	
  Daniel E. Dosoretz,
  Managing Partner

  
	
   

  	
   

  	
   

  
	
  /s/ MARIA M. SUAREZ

  	
   

  	
  TENANT:

  
	
  Signature

  	
   

  	
  21ST CENTURY
  ONCOLOGY, INC.,

  
	
   

  	
   

  	
  a Florida corporation

  
	
  MARIA M. SUAREZ

  	
   

  	
   

  
	
  Print Name

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ James R. Rubenstein

  

 

28

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}]]