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Exhibit 10.3

PHILLIPS-VAN HEUSEN CORPORATION

2006 STOCK INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT

(Director) 

NOTICE OF RESTRICTED STOCK UNIT AWARD

Phillips-Van Heusen Corporation (the “Company”) grants to the Grantee named below, in accordance with the terms of the Phillips-Van Heusen Corporation 2006 Stock Incentive Plan (the “Plan”) and this restricted stock unit agreement (this “Agreement”), the number of restricted stock units (the “Restricted Stock Units” or the “Award”) provided as follows:

	GRANTEE

	 
	RESTRICTED STOCK UNITS GRANTED

	 
	DATE OF GRANT

	 
	VESTING SCHEDULE

	Restricted Stock Units will vest in four installments on the following dates, subject to the Grantee’s continued service as a director of the Company:

	 	Vesting Date

	Restricted Stock Units Vesting

	[First anniversary of the date of grant]

	[25% of Award]

	[Second anniversary of the date of grant]

	[25% of Award]

	[Third anniversary of the date of grant]

	[25% of Award]

	[Fourth anniversary of the date of grant]

	[25% of Award]

AGREEMENT

1.

Grant of Award.  The Company hereby grants to the Grantee the Restricted Stock Units, subject to the terms, definitions and provisions of the Plan and this Agreement.  All terms, provisions, and conditions applicable to the Restricted Stock Units set forth in the Plan and not set forth herein are incorporated by reference.  To the extent any provision hereof is inconsistent with a provision of the Plan the provisions of the Plan will govern.  All capitalized terms that are used in this Agreement and not otherwise defined herein shall have the meanings ascribed to them in the Plan. 

2.

Vesting and Settlement of Award.

a.

Right to Award.  This Award shall vest in accordance with the vesting schedule set forth above (the “Vesting Schedule”) and with the applicable provisions of the Plan and this Agreement.  

 

b.

Settlement of Award.  [Except as otherwise validly elected by the Grantee on a form prescribed by the Company for such elections and timely filed with the Company, the] [The] vested portion of this Award shall be settled as soon as practicable following the vesting date set forth in the Vesting Schedule, but in no event later than March 15 of the year following the year in which the Award vests. 

Effective 6/19/07

The Company may require the Grantee to furnish or execute such documents as the Company shall reasonably deem necessary (i) to evidence such settlement and (ii) to comply with or satisfy the requirements of the Securities Act of 1933, as amended, the Exchange Act or any Applicable Laws.

c.

Method of Settlement.  The Company shall deliver to the Grantee one Share for each vested Restricted Stock Unit.  Share certificates shall be issued in the name of the Grantee (or of the person or persons to whom such Restricted Stock Units were transferred in accordance with Paragraph 4 of this Agreement).

d.

Dividend Equivalents.  If a cash Dividend is declared on the Shares, the Grantee shall be credited with a Dividend Equivalent in an amount of cash equal to the number of Restricted Stock Units held by the Grantee as of the dividend record date, multiplied by the amount of the cash dividend paid per Share.  Such Dividend Equivalent shall be paid if and when the underlying Restricted Stock Units are settled.  If a Share Dividend is declared on the Shares, the Grantee shall be credited with a Dividend Equivalent in an amount of Shares equal to the number of Restricted Stock Units held by the Grantee as of the dividend record date, multiplied by the amount of the Share dividend distributed per Share.  Such Dividend Equivalent shall be settled if and when the underlying Restricted Stock Units are settled, rounded down to the nearest whole share.  Dividend Equivalents shall not accrue interest prior to the date of payment or settlement, as applicable.  

3.

Termination of Service.  If the Grantee’s service with the Company and its Subsidiaries is terminated, due to the Grantee’s (i) Retirement or (ii) death, the Award shall become 100% vested on the date of such termination of service; provided, however, that this Award shall be forfeited immediately if the Grantee retires prior to the Company’s annual meeting of stockholders to be held in the year subsequent to the year in which this Award was granted.

When the Grantee’s service with the Company and its Subsidiaries terminates (except when due to Retirement or death), this Award shall be forfeited immediately with respect to the number of Restricted Stock Units for which the Award is not yet vested.  If the Grantee dies after termination of service, but before the settlement of the Award, all or part of this Award may be settled by payment to the personal representative of the Grantee or by any person who has acquired this Award directly from the Grantee but only to the extent that the Award was vested upon termination of the Grantee’s service. 

4.

Transferability of Award.

  

The Award may not be transferred, pledged, assigned, or otherwise disposed of, except (i) by will or the laws of descent and distribution or (ii) for no consideration, subject to such rules and conditions as may be established by the Committee, to a member or members of the Grantee’s Immediate Family.  For purposes of this Award Agreement, the Grantee’s “Immediate Family” means the Grantee’s children, stepchildren, grandchildren, parents, stepparents, grandparents, spouse, former spouse, siblings, nieces, nephews, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships or any person sharing the Grantee’s household (other than a tenant or employee). 

5.

Miscellaneous Provisions.  

a.

Rights as a Stockholder.  Neither the Grantee nor the Grantee’s representative shall have any rights as a stockholder with respect to any Shares subject to this Award, except as provided in Paragraph 2(d), until the Award has vested and Share certificates, if any, have been issued to the Grantee, transferee or representative, as the case may be.  

b.

Regulatory Compliance and Listing.  The issuance or delivery of any certificates representing Shares issuable pursuant to this Agreement may be postponed by the Committee for such period as may be required to comply with any applicable requirements under the federal or state securities laws, any applicable listing requirements of the New York Stock Exchange, and any applicable requirements under any other Applicable Law, and the Company shall not be obligated to deliver any such Shares to the Grantee if either delivery thereof would constitute a violation of any provision of any law or of any regulation of any governmental authority or the New York Stock 

2

Exchange.  The Company shall not be liable to the Grantee for any damages relating to any delays in issuing the certificates to the Grantee, any loss of the certificates, or any mistakes or errors in the issuance of the certificates or the certificates themselves.

c.

Choice of Law.  This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Agreement to the substantive law of another jurisdiction.  

d.

Modification or Amendment.  This Agreement may only be modified or amended by written agreement executed by the parties hereto; provided, however, that the adjustments permitted pursuant to Section 16 and Section 18(b) of the Plan may be made without such written agreement. 

e.

Severability.  In the event any provision of this Agreement shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining provisions of this Agreement, and this Agreement shall be construed and enforced as if such illegal or invalid provision had not been included.

f.

References to Plan.  All references to the Plan shall be deemed references to the Plan as may be amended.

g.

Headings.  The captions used in this Agreement are inserted for convenience and shall not be deemed a part of this Award for construction or interpretation.

h.

Interpretation.  Any dispute regarding the interpretation of this Agreement shall be submitted by the Grantee or by the Company forthwith to the Board or the Committee, which shall review such dispute at its next regular meeting.  The resolution of such dispute by the Board or the Committee shall be final and binding on all persons.  

i.

Section 409A of the Code.  The provisions of this Agreement and any payments made herein are intended to comply with, and should be interpreted consistent with, the requirements of Section 409A of the Code, and any related regulations or other effective guidance promulgated thereunder by the U.S. Department of the Treasury or the Internal Revenue Service. 

j.

Signature in Counterparts.  This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.

PHILLIPS-VAN HEUSEN CORPORATION

 

By: ______________________________

 

Name: 

Title:

The Grantee represents that s/he is familiar with the terms and provisions thereof, and hereby accepts this Agreement subject to all of the terms and provisions thereof.  The Grantee has reviewed the Plan and this Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement and fully understands all provisions of this Agreement.  The Grantee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions arising under the Plan or this Agreement.  

Dated:______________________________   Signed:___________________________________

 

Grantee

3exhibit10-78.htm

    
      

      

    

     

    Exhibit
      10.78

     

    AGREEMENT
      OF SALE

     

    THIS
      AGREEMENT by and between IMAGING DIAGNOSTIC SYSTEMS, INC. a Florida
      corporation (“Seller”), and SUPERFUN B.V., a corporation formed under the laws
      of  The Netherlands (“Purchaser”), is made as of September 13, 2007
      (the “Effective Date”).

     

    W
      I T N E S S E T H:

     

    1.          Sale.

     

    Seller
      has agreed and does hereby agree to sell and convey unto Purchaser and Purchaser
      has agreed and does hereby agree to purchase from Seller, in consideration
      of
      the covenants contained herein, and subject to the conditions hereinafter set
      forth, that certain commercial building located at 6531 NW 18th Court,
      Plantation,
      Broward County, Florida, 33313, and being more particularly described on Exhibit
      “A”, attached hereto and made a part hereof for all purposes, together with all
      and singular the right and appurtenances pertaining thereto, including any
      right, title and interest of Seller in and to adjacent streets, roads, alleys
      or
      rights-of-way (such real estate, rights and appurtenances being herein referred
      to as the “Property”).

     

    2.          Purchase
      Price.

     

    The
      total
      purchase price to be paid to Seller by Purchaser for the Property is Four
      Million Four Hundred Thousand and 00/100 ($4,400,000.00) Dollars (the “Purchase
      Price”) payable as follows:

     

    (a)           First
      Deposit.  Purchaser has deposited with Seller the sum of One
      Million One Hundred Thousand and 00/100 ($1,100,000.00) Dollars (“First
      Deposit”). Seller acknowledges receipt of the First Deposit.

     

    (b)           Second
      Deposit.  On or before September 24, 2007, Purchaser shall deposit
      with Seller, a deposit in the amount of One Million One Hundred Thousand Dollars
      and 00/100 ($1,100,000.00) Dollars.

     

    (c)           Third
      Deposit.  On or before November 8, 2007, Purchaser shall deposit
      with Seller a deposit in the amount of One Million One Hundred Thousand and
      00/100 ($1,100,000.00) Dollars.

     

    The
      First Deposit, Second Deposit and
      Third Deposit shall be collectively referred to as the “Deposit”.

     

    (d)           Cash
      to Close.  On December 23, 2007, Purchaser shall pay Seller the
      amount of One Million One Hundred Thousand and 00/100 ($1,100,000.00)
      Dollars.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    3.          Title
      and Survey Matters.

     

    (a)           Condition
      of Title.  At Closing, Seller shall convey good, marketable and
      insurable fee simple title to Purchaser by means of a Special Warranty Deed
      in
      recordable form conveying the Property to Purchaser free and clear of all
      claims, liens and encumbrances except for those items (the “Permitted
      Exceptions”) referred to in items 6, 7 and 8 of Schedule B of the Title Policy
      referred to in paragraph 3(b) hereof.

     

    (b)           Preliminary
      Title Report.  Attached hereto as Exhibit “B” is a copy of
      Seller’s policy of title insurance showing title to the Property to be held by
      Seller (“Title Policy”).

     

    (c)           Defects
      and Cure.  The Title Policy as described in this Paragraph 3 is
      referred to as “Title Evidence” and has been provided to
      Purchaser.  Purchaser shall have fifteen (15) days from the Effective
      Date within which to cause the same to be examined and to notify the Seller
      of
      any objections.  If the Title Evidence discloses liens, encumbrances,
      exceptions, objections or defects which render title to the Property
      unmarketable under Florida law (collectively “Title Defects”), other than the
      Permitted Exceptions and those which can and shall be discharged by Seller
      at or
      before Closing, said Title Defects shall, as a condition precedent to
      Purchaser's obligation to Close, be cured and removed by Seller within thirty
      (30) days (“Cure Period”)after written notification by Purchaser to Seller of
      such Title Defect(s) and the Closing Date shall be postponed, if
      necessary.  If Seller fails to remove, discharge or correct all Title
      Defects within the Cure Period, then Purchaser may, at its option, either (i)
      terminate this Agreement by written notice to the Seller given within ten (10)
      days after the expiration of the cure period; or (ii) proceed to close and
      accept title “as is” without reduction in the Purchase Price (except for any
      claim of lien which can be removed by the payment of money or the transfer
      to
      bond).

     

    4.          Escrow
      of Closing Documents.

     

    On
      the
      Effective Date, Seller has executed and delivered to Escrow Agent: a) a Special
      Warranty Deed conveying title to the Property to the Purchaser; b) a Seller’s no
      lien, gap and FIRPTA Affidavit and c) Closing Statement (copies of which are
      attached as Exhibit “C”) (collectively, the “Closing Documents”).  The
      Closing Documents shall be held in escrow and shall not be delivered by Escrow
      Agent to Purchaser until the Closing Date provided that Purchaser complies
      with
      all of its obligations as set forth in this Agreement.  Upon
      assignment of this Agreement to the Assignee under paragraph 17(g) hereof,
      Seller re-execute the Closing Documents reflecting the Assignee as the
      buyer/grantee.

     

    
      
        
        

      

      
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    5.          Representations
      and Warranties of the Seller.

     

    Seller
      represents and warrants to the Purchaser only the following:

     

    (a)           Seller
      is the fee simple owner of the Property.

     

    (b)           The
      Seller is a validly existing corporation, in good standing under the laws of
      the
      State of Florida.

     

    (c)           Seller’s
      execution of and performance under this Agreement is pursuant to authority
      validly and duly conferred upon Seller and its signatory hereto.

     

    (d)           There
      are no parties in possession of any portion of the Property as lessees, tenants
      at sufferance or trespassers.

     

    (e)           Between
      the date hereof the Closing, no part of the Property will be alienated,
      encumbered or transferred in favor of or to any party whatsoever and Seller
      will
      execute no instrument which will affect title to the Property unless such
      actions taken by Seller (i) can be released prior to or at Closing; or (ii)
      are
      taken in conjunction with Seller’s applications and procedures necessary for the
      proposed development of the Property.

     

    (f)           That
      to the best of Seller’s knowledge, and without investigation, and except as to
      any applications by Seller regarding the development of the Property, there
      are
      no pending matters of litigation suits or other legal or administrative actions
      or arbitration pending against or with respect to the Property or any part
      thereof, nor has Seller received written notice of the threat of any such
      outstanding actions, suits or other proceedings.  No attachments,
      execution proceedings, assignments or bankruptcy or insolvency proceedings
      are
      pending or threatened against or contemplated by Seller.

     

    (g)           
      Seller is a validly organized and existing Florida corporation, and is fully
      authorized to do business in the State of Florida, and Seller is fully
      authorized to execute and deliver this Agreement and all other documents
      contemplated hereunder, and take all actions required hereunder, without the
      consent or approval of any other party, person or entity, including without
      limitation any state or federal court.

     

    In
      the
      event any of the above representations and warranties are not true and correct
      as of the Closing Date, Purchaser may: a) proceed to close this transaction
      in
“as is” condition or b) cancel this transaction in which the Deposit shall be
      refunded to Purchaser and all parties shall be released of their obligations
      under this Agreement.  Except as provided below, all warranties of
      Seller set forth in this paragraph shall not survive the Closing and the
      delivery of the Special Warranty Deed and all warranties shall merge into the
      Closing or Special Warranty Deed.  The foregoing limitation on such
      representations and warranties, shall not, however, invalidate or limit in
      any
      way, any and all representations and warranties that Seller has made in the
      Closing Documents.

     

    
      
        
        

      

      
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    The
      following disclaimer is subject to the foregoing representations and warranties
      made by Seller in accordance with the terms of the preceding
      paragraph:

     

    DISCLAIMER
      OF REPRESENTATIONS OR WARRANTIES BY SELLER.  EXCEPT AS EXPRESSLY
      SET FORTH IN THIS AGREEMENT, SELLER HAS NOT MADE AND DOES NOT MAKE ANY
      REPRESENTATIONS, WARRANTIES OR OTHER STATEMENTS AS TO THE CONDITION OF THE
      PROPERTY NOR TO THE ZONING, USE OR ENTITLEMENTS OF SAME AND PURCHASER
      ACKNOWLEDGES THAT AT CLOSING IT IS PURCHASING THE PROPERTY, ON AN “AS IS, WHERE
      IS” BASIS AND WITHOUT RELYING ON ANY REPRESENTATIONS AND WARRANTIES OF ANY KIND
      WHATSOEVER, EXPRESS OR IMPLIED, FROM SELLER, ITS AGENTS OR BROKERS AS TO ANY
      MATTERS CONCERNING THE PROPERTY. EXCEPT AS EXPRESSLY SET FORTH IN THIS
      AGREEMENT, NO REPRESENTATIONS OR WARRANTIES HAVE BEEN MADE OR ARE MADE AND
      NO
      RESPONSIBILITY HAS BEEN OR IS ASSUMED BY SELLER OR BY ANY PARTNER, OFFICER,
      PERSON, FIRM, AGENT OR REPRESENTATIVE ACTING OR PURPORTING TO ACT ON BEHALF
      OF
      SELLER AS TO THE PHYSICAL CONDITION OF THE PROPERTY NOR THE ZONING, USE OR
      ENTITLEMENTS OF SAME OR THE VALUE, EXPENSE OF OPERATION OR INCOME POTENTIAL
      THEREOF OR AS TO ANY OTHER FACT OR CONDITION WHICH HAS OR MIGHT AFFECT THE
      PROPERTY OR OTHER CONDITION, VALUE, EXPENSE OF OPERATION OR INCOME POTENTIAL
      OF
      THE PROPERTY OR ANY PORTION THEREOF. THE PARTIES AGREE THAT ALL UNDERSTANDINGS
      AND AGREEMENTS HERETOFORE MADE BETWEEN THEM OR THEIR RESPECTIVE AGENTS OR
      REPRESENTATIVES ARE MERGED IN THIS AGREEMENT AND THE SCHEDULES AND EXHIBITS
      HERETO ANNEXED, WHICH ALONE FULLY AND COMPLETELY EXPRESS THEIR AGREEMENT, AND
      THAT THIS AGREEMENT HAS BEEN ENTERED INTO AFTER FULL INVESTIGATION, OR WITH
      THE
      PARTIES SATISFIED WITH THE OPPORTUNITY AFFORDED FOR INVESTIGATION, NEITHER
      PARTY
      RELYING UPON ANY STATEMENT OR REPRESENTATION BY THE OTHER UNLESS SUCH STATEMENT
      OR REPRESENTATION IS SPECIFICALLY EMBODIED IN THIS AGREEMENT OR THE EXHIBITS
      ANNEXED HERETO. WITHOUT LIMITING ANY OF THE EXPRESS REPRESENTATIONS AND
      WARRANTIES IN THIS AGREEMENT, PURCHASER ACKNOWLEDGES THAT SELLER HAS REQUESTED
      PURCHASER TO INSPECT FULLY THE PROPERTY AND INVESTIGATE ALL MATTERS RELEVANT
      THERETO AND, WITH RESPECT TO THE PROPERTY, TO RELY SOLELY UPON THE RESULTS
      OF
      PURCHASER'S OWN INSPECTIONS OR OTHER INFORMATION OBTAINED OR OTHERWISE AVAILABLE
      TO PURCHASER.

    

                       
      /s/
      E. P.

    _____________________________

    PURCHASER’S
      INITIALS

     

    
      
        
        

      

      
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    6.          Conditions
      to Purchaser’s Obligations.

     

    In
      addition to the performance by the Seller hereunder, the obligations of the
      Purchaser to consummate the transactions contemplated hereby are subject to
      the
      representations and warranties of Seller set forth in this Agreement shall
      be
      true on and as of the Closing Date with the same force and effect as if such
      representations and warranties had been made on and as of the Closing Date
      (any
      of which may be waived in whole or in part by Purchaser at or prior to the
      Closing).

     

    7.          Closing
      and Related Matters.

     

    (a)           The
      Closing Date and Conditions.  The delivery of the Closing
      Documents and other acts necessary to accomplish the transactions provided
      for
      in this Agreement (the “Closing”) shall take place on December 23, 2007 (the
“Closing Date”).

     

    (b)           Prorations.  There
      shall be no prorations for real estate or personal property taxes, service
      contracts or any other matters against the Purchase Price, including the
      Deposits and the Cash to Close.  However, to the extent that there are
      any liens, mortgages or judgments which are capable of being satisfied by the
      payment of a monetary sum, Seller shall use so much of the Deposits and/or
      Cash
      to Close as is necessary to satisfy such items on the Closing Date and the
      Closing Statement shall be revised accordingly.  All certified
      assessments as of the Closing Date for public improvements shall be paid by
      Seller on the Closing Date and all pending assessments as of the Closing Date
      for public improvements shall be assumed by
      Purchaser.   

     

    (c)           Seller's
      Obligations at Closing.  At Closing, Seller shall (i) (i) execute
      and deliver any and all other documents reasonably necessary or reasonably
      advisable to consummate the transactions contemplated hereby and (ii) execute
      the Lease attached hereto as Exhibit “D” (the “Lease”).  At closing,
      Escrow Agent shall deliver the Closing Documents to Purchaser upon Purchaser’s
      satisfaction of its obligations under Section 7(d) hereof.

     

    (d)           Purchaser's
      Obligations at Closing.  At Closing, Purchaser shall (i) pay to
      Seller the Cash to Close which constitutes the balance of the Purchase Price,
      (ii) execute and deliver the Closing Statement held in escrow by Escrow Agent
      and the Lease and (iii) execute and deliver all documents reasonably
      necessary or reasonably advisable to consummate the transaction contemplated
      hereby.

     

    (e)           Closing
      Costs.  Seller shall pay the following costs in connection with
      the Closing:  (i) Documentary stamps which are required to be affixed
      to or paid in connection with the instrument of conveyance; (ii) the cost of
      recording any corrective instrument; and (iii) the cost of releasing any and
      all
      mortgages or other liens on the Property.

     

    Purchaser
      shall pay (i) the cost of recording the Deed; and (ii) the cost of the title
      search and examination for the Property and the owner’s title insurance premium
      (if Purchaser elects to purchase such title insurance).

     

    
      
        
        

      

      
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    8.          GAP
      Closing.

     

    The
      Closing shall take place in such a fashion that the Title Company selected
      to
      issue the Title Policy to the Purchaser shall insure the gap in time between
      the
      last examination of title to the Property and the recording of the Deed to
      the
      Property in favor of Purchaser, the Closing cash proceeds due Seller hereunder
      shall be disbursed to Seller upon the written undertaking of the insurance
      of
      such “gap” by the title insurer at the Closing and the Title Company shall
      immediately proceed to record the Special Warranty Deed and thereafter issue
      its
      owner’s policy of title insurance to the Purchaser.  Seller shall
      furnish such Title Company with appropriate Affidavits and other documents
      of
      Seller as it may reasonably require to insure the “gap”.

     

    9.          Risk
      of Loss, Condemnation, and Casualty.

     

    (a)           All
      risk of condemnation and the risk of loss, damage, or destruction of the
      Property, by fire or otherwise, prior to the Closing shall be on
      Seller.

     

    (b)           If,
      after the Effective Date hereof and prior to the Closing all or a part of the
      Property is subjected to a bona fide threat of condemnation by a body having
      the
      power of eminent domain or is taken by eminent domain or condemnation (or sale
      in lieu thereof), or all or a part of the Property is damaged or destroyed
      by
      any cause, Seller shall immediately notify Purchaser in writing and Purchaser
      may give written notice to Seller electing to cancel this Agreement prior to
      the
      Closing hereunder, in which event both parties shall be relieved and released
      of
      and from any further liability hereunder, the Deposit and interest shall
      forthwith be returned to Purchaser by the Escrow Agent, and thereupon this
      Agreement shall become null and void and be considered cancelled.  If
      no such election is made, this Agreement shall remain in full force and effect
      and the sale and purchase contemplated herein, less any interest taken by
      eminent domain or condemnation, shall be effected with no further adjustment,
      and upon the Closing Seller shall assign, transfer, and set over to Purchaser
      all of the right, title and interest of Seller in and to any awards that have
      been or that may thereafter be made for such taking; and Seller shall assign,
      transfer and set over to Purchaser any sums of insurance money paid for any
      damages or destruction.

     

    10.          Default.

     

    (a)           Seller's
      Default.  In the event that Seller should fail to consummate the
      transaction contemplated herein for any reason except Purchaser's material
      default or the failure of Purchaser to satisfy any of the material conditions
      to
      Seller's obligations set forth herein, Purchaser may, at its option, either
      terminate this Agreement and receive a full and immediate refund of the Deposit
      held by Seller or enforce specific performance of this Agreement thereby, in
      both cases, waiving the right to damages.

     

    (b)           Purchaser's
      Default.  In the event Purchaser should fail to consummate the
      transaction contemplated herein for any reason except material default by
      Seller, the Seller shall retain the First Deposit, such sum being agreed upon
      as
      liquidated damages for the failure of Purchaser to perform the duties,
      liabilities, and obligations imposed upon it by the terms and provisions of
      this
      Agreement and because of the difficulty, inconvenience and uncertainty
      of

     

    
      
        
        

      

      
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    ascertaining
      actual damages.  The maximum liability that the Purchaser has with
      respect to a default by Purchaser hereunder is loss of the First Deposit and
      no
      other damages, right, or remedies shall in any case be collectible, and Seller
      agrees to accept and take the First Deposit as its total damages in relief
      hereunder in such event.  In such event, Seller shall return to
      Purchaser the Second Deposit and Third Deposit to extent previously paid by
      Purchaser to Seller.  No delay or omission in the exercise of any
      right or remedy accruing to Seller upon any breach by Purchaser under this
      Agreement shall impair such right or remedy or be construed as a waiver of
      any
      such breach theretofore or thereafter occurring.  The waiver by Seller
      of any condition or the breach of any term, covenant or condition herein
      contained shall not be deemed to be a waiver of any other condition or of any
      subsequent breach of the same or any other term, covenant or condition herein
      contained.

     

    11.          Escrow
      Agent.

     

    The
      Escrow Agent under this Agreement shall be Adorno & Yoss LLP, 2525 Ponce De
      Leon Boulevard, Suite 400, Miami, Florida 33134.

     

    The
      execution of this Agreement by the
      Escrow Agent is solely for purposes of evidencing the acknowledgment by said
      Escrow Agent of the receipt by it of the Closing Documents specified in
      Paragraph 4 hereinabove.  In the event of any dispute regarding any
      action taken, or proposed to be taken, by the Escrow Agent with respect to
      the
      Closing Documents, (collectively, the “Escrow”) held by the Escrow Agent
      pursuant to this Agreement, the Escrow Agent, in its sole discretion,
      may:

     

    (a)           Refuse
      to comply with any demands on it and continue to hold the Escrow until it
      receives either (i) written notice signed by Purchaser and Seller and the other
      person, if any, directing the Escrow, or (ii) an order of Court, having final
      jurisdiction thereover, directing the delivery of the Escrow;

     

    (b)           On
      notice to Seller and Purchaser, take such affirmative action as it may deem
      appropriate to determine its duties as Escrow Agent including, but not limited
      to, the delivery of the Escrow to a court of competent jurisdiction and the
      commencement of an action for interpleader;

     

    (c)           If
      Purchaser or Seller shall have commenced litigation with respect to the Escrow,
      deliver the Escrow to the Clerk of the Court in which said litigation is
      pending.

     

    Upon
      delivery of the Escrow under the provision of (a), (b) or (c) above, the Escrow
      Agent shall have no further obligation with respect to the Escrow.

     

    Both
      Purchaser, Seller and Escrow Agent acknowledge that the Escrow Agent is acting
      hereunder as a depository of the Closing Documents only to the parties, and
      Purchaser and Seller, jointly and severally, do hereby agree to indemnify and
      hold harmless the Escrow Agent of and from any and all liabilities, costs,
      expenses and claims, of any nature whatsoever, by reason of or arising out
      of
      any act as Escrow Agent hereunder, except in the case of Escrow Agent's gross
      negligence or willful misconduct.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    All
      parties agree that the Escrow Agent shall not be liable to any party or person
      whomsoever for (i) the sufficiency, correctness, genuineness or validity of
      any
      instrument deposited with it or any notice or demand given to it or for the
      form
      of execution of such instrument, notice or demand, or for the identification,
      authority or rights of any person executing, depositing or giving the same
      or
      for the terms and conditions of any instrument, pursuant to which the parties
      may act; (ii) acting upon any signature, notice, demand, request, waiver,
      consent, receipt or other paper or document believed by Escrow Agent to be
      genuine and Escrow Agent may assume that any person purporting to give it any
      notice on behalf of any party in accordance with the provisions hereof has
      been
      duly authorized to do so, or (iii) otherwise acting or failing to act under
      this
      Paragraph 11 except in the case of Escrow Agent's gross negligence or willful
      misconduct.  Purchaser acknowledges that Escrow Agent is
      counsel to Seller and Purchaser agrees to such representation and waives any
      conflict that  may arise as a consequence of Adorno & Yoss LLP
      acting in such dual capacities.  Adorno & Yoss LLP does not
      represent Purchaser in any capacity whatsoever.

     

    12.          Notices.

     

    Any
      notice or communication required or permitted to be given or served upon any
      party hereto in connection with this Agreement must be in writing, and shall
      be
      deemed given when personally delivered or 72 hours after being deposited in
      the
      United States Mail, certified, return receipt requested, with postage prepaid,
      or 24 hours after being given to an overnight courier for delivery, or when
      transmitted by facsimile with a receipt for transmission addressed as
      follows:

     

    If
      to
      Purchaser:

    

    Superfun
      B.V.

    Roerdompstraat
      19

    1171
      HB
      Badhoevedorp

    The
      Netherlands

    

    If
      to
      Seller:

    

    Imaging
      Diagnostic Systems, Inc.

    6531
      NW
      18th
      Court

    Plantation,
      FL 33313

    

    With
      copy
      to:

    

    Robert
      Macaulay, Esquire

    Adorno
      & Yoss LLP

    2525
      Ponce De Leon Boulevard

    Suite
      400

    Miami,
      FL
      33134

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    

    Any
      party
      hereto may, by giving five (5) days written notice to the other party hereto,
      designate any other address in substitution of the foregoing address to which
      notice shall be given.  Notices to or from legal counsel for the
      parties with copies to the intended party shall constitute appropriate and
      valid
      notice hereunder.

     

    13.          Governmental
      Authorities.

     

    As
      used
      herein, the term “Governmental Authority(ies)” includes the City of Plantation,
      Florida, Broward County, the Government of the United States of America, the
      State of Florida, and each and every agency, division, commission, subdivision,
      and instrumentality of the foregoing, any or all of which have jurisdiction
      over
      the Property or any part thereof.

     

    14.          Compliance
      with Code.

     

    In
      order
      to comply with the provisions of Section 1445 of the Internal Revenue Code
      of
      1986 (the “Code”), as amended, Seller shall deliver to Purchaser at Closing, an
      affidavit in which Seller, under penalty of perjury, affirms that Seller is
      not
      a “foreign person” as defined in the Code, states the United States taxpayer
      identification number of Seller, affirms that Seller intends to timely file
      a
      United States income return with respect to the transfer of the Property and
      which otherwise conforms to the requirements of Section 445 of the code and
      the
      Regulations promulgated thereunder.  If Seller fails to furnish an
      affidavit as required, Purchaser shall withhold ten (10%) percent of the gross
      sales price of the Property, in lieu of payment thereof to Seller, and, instead,
      pay such amount to the Internal Revenue Service in such form and manner as
      may
      be required by law.

     

    15.          Compliance
      with OFAC.  Purchaser and Seller hereby
      covenant, represent and warrants to each other as of the Effective Date and
      as
      of the Closing Date as follows:

     

    (a)           Purchaser
      and Seller and each of their Affiliates are “U.S. Persons” as defined in the
      regulations administered by United States Treasury Department's Office of
      Foreign Assets Control (“OFAC”), and are subject to those regulations and to
      Executive Order 13224 effective on September 24, 2001 (“EO 13224”) (the OFAC
      regulations and EO 13224 together “Blocking Regulations”) and are in full
      compliance with the requirements of all Blocking
      Regulations.  “Affiliates” in this Paragraph 16 means with respect to
      any Person, any other Person directly or indirectly controlling or controlled
      by
      or under direct or indirect common control with such Person.  For
      purposes of this definition, “control”, when used with respect to any Person,
      means the power to direct the management and policies of such Person, directly
      or indirectly, whether through the ownership of voting securities, by contract
      or otherwise; and the terms “controlling” and “controlled” have meanings
      correlative to the foregoing.  “Person” or “person” in this Paragraph
      16 means any individual, corporation, partnership, joint venture, association,
      joint stock company, trust, trustee(s) of a trust, unincorporated organization,
      or government or governmental authority, agency or political subdivision
      thereof, and shall include such Person’s successors and assigns.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    (b)           None
      of (i) Seller, Purchaser, or any of their Affiliates, (ii) any Person that
      owns
      voting shares of Purchaser, Seller, or any of their Affiliates, or any director
      of such Person, (iii) any director of Purchaser, Seller, or any of their
      Affiliates, nor (iv) any Person who owns or controls (as determined by OFAC)
      any
      of the Persons specified in clauses (i) through (iii) of this subsection, is
      a
      Person (A) that is subject to the prohibitions contained in EO 13224 or any
      other Blocking Regulations or (B) whose name appears on OFAC's most current
      list
      of “Specially Designated Nationals and Blocked Persons.”

     

    (c)           Purchaser
      shall deliver to Seller any and all information reasonably requested by Seller
      to enable Seller to ensure Purchaser’s compliance with this Paragraph
      16.  The provisions of this Paragraph 16 shall also apply to any
      assignee of Purchaser.  Seller shall not be obligated to consummate
      the transaction contemplated by this Agreement if Purchaser fails to comply
      with
      the provisions of this Paragraph 16 or if the representations by Purchaser
      in
      this Paragraph 16 are false.

     

    (d)           Seller
      shall deliver to Purchaser any and all information reasonably requested by
      Purchaser to enable Purchaser to ensure Seller’s compliance with the terms of
      this Paragraph 16.  The provisions of this Paragraph 16 shall also
      apply to any assignee of Seller.  Purchaser shall not be obligated to
      consummate the transaction contemplated by this Agreement if Seller fails to
      comply with the provisions of this Paragraph 16 or if the representations by
      Seller in this Paragraph 16 are false.

     

    16.          Confidentiality.

     

    The
      Purchaser and Seller hereby agree that the existence and contents of this
      Agreement, the records, and all third-party reports are confidential and shall
      not be disclosed to third parties (except for brokers, attorneys, the Title
      Company, accountants or other consultants who are necessary for the consummation
      of this transaction) without the consent of the Purchaser and Seller. The
      Purchaser and Seller further agree that all discussions between the Purchaser
      and Seller concerning this transaction will be held in confidence except as
      stated hereinabove

     

    17.          General
      Provisions.

     

    (a)           Governing
      Law.  This Agreement and all questions of interpretation,
      construction and enforcement hereof, and all controversies arising hereunder,
      shall be governed by the applicable statutory and common law of the State of
      Florida.

     

    (b)           Severability.  In
      the event any term or provision of this Agreement shall be held illegal,
      unenforceable or inoperative as a matter of law, the remaining terms and
      provisions of this Agreement shall not be affected thereby, but each such term
      and provision shall be valid and shall remain in full force and
      effect.

     

    (c)           Binding
      Effect, Entire Agreement, Modification.  This Agreement shall be
      binding upon, and shall inure to the benefit of, the successors and assigns
      of
      the parties hereto.  This Agreement embodies the entire contract
      between the parties hereto with respect to the Property and supersedes any
      and
      all prior agreements and understandings, written or oral, formal

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    or
      informal.  No modifications or amendments to this Agreement, of any
      kind whatsoever, shall be made or claimed by Seller or Purchaser, and no notices
      of any extension, change, modification or amendment made or claimed by Seller
      or
      Purchaser (except with respect to permitted unilateral waivers of conditions
      precedent by Purchaser) shall have any force or effect whatsoever unless the
      same shall be endorsed in writing and fully signed by Seller and
      Purchaser.

     

    (d)           Further
      Assurances.  In addition to the foregoing, the parties hereto, at
      the time and from time to time at or after Closing, upon request of Purchaser
      or
      of Seller, as the case may be, agree to do, execute, acknowledge and deliver
      all
      such further acts, deeds, assignments, transfers, conveyances, powers of
      attorney and assurances, as may be reasonably required for: (i) the better
      assigning, transferring, granting, conveying assuring and confirming unto the
      Purchaser all of Seller's right, title and interest in and to the Property
      being
      conveyed hereunder; and (ii) the more effective consummation of the other
      transactions referred to in this Agreement.

     

    (e)           Captions.  Captions
      and Article headings contained in this Agreement are for convenience and
      reference only and in no way define, describe, extend or limit the scope or
      intent of this Agreement nor the intent of any provision hereof.

     

    (f)           Litigation.  In
      the event of any litigation between the parties to this Agreement relating
      to or
      arising out of this Agreement, the prevailing party shall be entitled to an
      award of reasonable attorneys' fees and costs, including such fees and costs
      at
      trial and on appeal.

     

    (g)           Assignment.  This
      Agreement is not assignable by Purchaser except to a corporation which is wholly
      owned by the Purchaser (“Assignee”).

     

    (h)           Remedies.  Unless
      otherwise specified, no remedy conferred upon either party in this Agreement
      is
      intended to be exclusive of any other remedy herein or by law provided or
      permitted, but each shall be cumulative and shall be in addition to every other
      remedy given hereunder or now or hereafter existing at law or in equity by
      statute.  Every power or remedy given by this Agreement to the
      Purchaser or to which the Purchaser may otherwise be entitled may be exercised
      concurrently or independently, from time to time, and as often as may be deemed
      expedient by the Purchaser and the Purchaser may pursue inconsistent
      remedies.

     

    (i)           Waiver.  No
      waiver of any provision of this Agreement shall be effective unless it is in
      writing, signed by the party against whom it is asserted and any such written
      waiver shall only be applicable to the specific instance to which it relates
      and
      shall not be deemed to be a continuing or future waiver.

     

    (j)           Survival.  The
      Disclaimer of Representations or Warranties by Seller in Paragraph 5, and
      Paragraph 17(r) shall survive the Closing, termination or voidability of this
      Agreement and shall continue to be binding on Seller and Purchaser, as
      applicable.

     

    (k)           Facsimile
      and Counterparts.  This Agreement may be executed in one or more
      counterparts, each of which shall be deemed to be an original but all of which
      shall constitute one and the same Agreement.  A facsimile signature of
      any party to this Agreement shall be fully binding on such party.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    (l)           Recordation
      of Agreement.  Neither this Agreement nor any memorandum thereof
      or reference thereto may be recorded in any Public Records in the State of
      Florida.

     

    (m)           Interpretation.  All
      terms and words used in this Agreement, regardless of the number and gender
      in
      which used, shall be deemed to include any other gender or number as the context
      or the use thereof may require.  This Agreement shall be interpreted
      without regard to any presumption or other rule requiring interpretation against
      the party causing this Agreement or any part thereof to be
      drafted.  Any period measured in “days” shall mean consecutive
      calendar days, except that the expiration of any time period measured in days
      that expires on a Saturday, Sunday or legal holiday automatically will be
      extended to the next day that is not a Saturday, Sunday or legal
      holiday.

     

    (n)           Exhibits.  Exhibits
      “A”, “B”, “C” and “D” attached hereto are an integral part of this
      Agreement.

     

    (o)           Time
      for Acceptance.  This Agreement, when duly executed by all of the
      parties hereto, shall be binding upon the parties hereto, their heirs,
      representatives, successors and assigns.  The Purchaser must execute
      this Agreement and no later than 2:00 PM Eastern Daylight Saving Time on day
      of
      September 13, 2007.  In the event this Agreement has not been duly
      executed by the Seller and two (2) duly executed counterparts (or facsimile
      copy) delivered to the Purchaser by day of September 13, 2007, at 5:00 o'clock,
      PM, then the offer herein and herewith made by the Purchaser shall terminate
      and
      this Agreement shall be null and void and the Seller shall return to the
      Purchaser the First Deposit made hereunder.

     

    (p)           Radon
      Gas.  Radon is a naturally occurring radioactive gas that, when it
      has accumulated in a building in sufficient quantities, may present health
      risks
      to persons who were exposed to it over time.  Levels of radon that
      exceed federal and state guidelines have been found in buildings in
      Florida.  Additional information regarding radon and radon testing may
      be obtained from your county public health unit.

     

    (q)           Time
      of Essence/Extensions.  Time shall be of the essence in regard to
      the performance by the Purchaser and Seller of all of their respective
      obligations under the terms and conditions of this Agreement.  Seller
      will not grant any extensions of periods of time within which Purchaser must
      perform hereunder.

     

    (r)           Brokerage
      Fees.  Seller and Purchaser mutually represent to each other that
      no real estate broker or agent has been engaged by or is involved with either
      Seller or Purchaser in connection with this transaction.  Seller and
      Purchaser agree to indemnify and hold each other harmless from any and all
      claims or demands by any real estate broker or agent, claiming by, through
      or
      under Seller or Buyer, respectively.  This indemnification shall also
      include payment of costs and reasonable attorney’s fees incurred in this regard,
      including those costs and reasonable attorney’s fees that may be incurred in any
      appellate, bankruptcy or post-judgment proceedings.

     

    

     

    [Signature
      page follows]

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement as of
      the date first written above.

     

    
      	
              WITNESSES:

               

               

               

               

              /s/
                R. W. Ng

               

              NAME:
                R. W. Ng

               

               

            	
              PURCHASER:

               

              SUPERFUN
                B.V., a corporation formed under the laws of The Netherlands

               

              By:
                /s/ E. Paap

               

                        E.
                Paap

               

               

            
	
              WITNESSES:

               

               

               

               

              /s/
                Gregg Rodes

               

              NAME:
                Gregg Rodes

               

            	
              SELLER:

               

              IMAGING
                DIAGNOSTIC SYSTEMS, INC., a Florida corporation

               

               

              Per:
                /s/ Timothy B. Hansen

               

                           Timothy
                B. Hansen

               

            

    

    

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    EXHIBIT
      “A”

    

    DESCRIPTION
      OF LAND

    

    

    

    Lots
      4 and 5, of Landmark Industrial
      Park, according to the plat thereof, as recorded in plat book 96, page 40,
      public records of Broward County, Florida

    

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    EXHIBIT
      “B”

    

    SELLER’S
      POLICY OF TITLE INSURANCE

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

    EXHIBIT
      “C”

    

    CLOSING
      DOCUMENTS

    

    

    a)           Special
      Warranty Deed

    

    b)           Seller’s
      No Lien, Gap and FIRPTA Affidavit

    

    c)           Closing
      Statement

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

    EXHIBIT
      “D”

    

    LEASE
      AGREEMENT

    

    THIS
      LEASE AGREEMENT (this “Lease”) is
      made as of this ____ day of _____________, 2007, by and
      between__________________, a
      ___________________ formed under the laws of ________ (hereinafter called
“Landlord”), and IMAGING DIAGNOSTIC SYSTEMS, INC., a Florida corporation
      (hereinafter called “Tenant”).

    

    W
      I T N E S S E T H :

    

    Section
      1.  Premises:  The Landlord hereby leases to Tenant and
      Tenant hereby leases from Landlord, subject to the terms and conditions in
      this
      Lease and subject to all zoning ordinances and restrictions and reservations
      of
      record, the following described property (“Premises”):

    

    24,549
      square feet, more or less, located at 6531 Northwest 18th Court,
      Plantation,
      Florida  33313, as described in greater detail on Exhibit A, of which
      the parties agree that the rentable square footage shall be deemed to be
      24,000.

    

    The
      Premises is being leased in “AS IS”
condition except as otherwise specifically provided herein.  Landlord
      has made no representations to Tenant regarding the condition of the Premises,
      and Tenant hereby acknowledges that Tenant has, prior to the date hereof,
      undertaken all inquiry, which Tenant deems appropriate under the circumstances
      to determine the actual condition of the Premises.

    

    Section
      2.  Term:  Tenant shall have and hold the Premises for a
      term beginning on the Commencement Date (as hereinafter defined) and terminating
      on the Expiration Date (as hereinafter defined) unless extended in accordance
      with this Lease or sooner terminated pursuant to the terms hereof (the
“Term”).  Notwithstanding the foregoing, either party may cancel this
      Lease without penalty or fault upon 180 days prior written notice given to
      the
      other party, to be effective on the first day of the month following the
      expiration of said 180 day period.

    

    Section
      3.  Commencement
      and Expiration Dates:  The date of commencement of the Term of
      this Lease (the “Commencement Date”) shall be the date first written
      above.  The date of the expiration of the Term of this Lease shall be
      that date which completes five (5) years from the Commencement Date except
      that
      in the event that the Commencement Date is a date other than the first day
      of a
      calendar month, said term shall be extended for the number of days equal to
      the
      remainder of the calendar month following the Commencement Date (the “Expiration
      Date”).  For purposes of this Agreement, a “Lease Year” shall
      mean:  for the first year, the period beginning on the Commencement
      Date and ending on the first annual anniversary of the last day of the month
      in
      which the Commencement Date falls (unless the Commencement Date falls on the
      first day of a month, in which case the first Lease Year shall end on the first
      annual anniversary of the month-end preceding the Commencement Date); and for
      subsequent years, the twelve month period ending on each annual anniversary
      within the lease term of the final day of the first Lease
      Year.  Landlord and Tenant acknowledge that certain obligations under
      various articles of this lease may commence prior to the Commencement Date
      of
      the lease term and agree that this is a binding and enforceable agreement as
      of
      the date Landlord and Tenant execute this Lease.

    

    Section
      4.  Rental:  Commencing on the first day of the seventh
      month of the first Lease Year, Tenant shall pay to Landlord as Minimum Annual
      Rent (the “Minimum Annual Rent”) for the balance of

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

    the
      first
      Lease Year the sum of $12.00 per square foot, payable in monthly installments
      of
      $24,000, plus applicable sales tax.  Thereafter, rental shall be due
      on the first day of each calendar month.  No Minimum Annual Rent shall
      be due for the first six months of the Term.  All rent shall be due in
      advance and without demand, deduction or setoff.  All rent shall be
      paid at the Landlord’s address listed below, or to such other address or place
      designated by Landlord by written notice to Tenant.

    

    Section
      5.  Annual Rent
      Escalations:  During the term and any renewal term of this Lease,
      the Minimum Annual Rent shall be increased every year.  Commencing
      with the first day of the second Lease Year and on each Lease Year anniversary
      thereafter, the Minimum Annual Rent shall be cumulatively increased by $24,000
      per each Lease Year ($1.00 per rentable square foot), plus applicable sales
      tax.

    

    Section
      6.  Sales
      Tax:  Together with each monthly payment of Minimum Annual Rent,
      Tenant shall pay Landlord any and all applicable sales and/or excise taxes
      due
      thereon.

    

    Section
      7. Partial Months’
Rental:  If the Commencement Date occurs on a day other than the
      first day of the month, then the monthly installment of Minimum Annual Rent
      shall be prorated for such partial month(s) on a per diem basis. Together with
      each partial months’ rental, Tenant shall pay Landlord any and all applicable
      sales and/or excise taxes due thereon.

    

    Section
      8.  Type of
      Lease:  Except as otherwise provided in this Lease, the Minimum
      Annual Rental is to be paid to Landlord net of taxes, insurance and
      maintenance.  This is a “triple net lease” in that Tenant shall be
      responsible for the cost of taxes, insurance, maintenance, utilities and all
      other charges, except for those items of maintenance which are specifically
      made
      the responsibility of the Landlord in this Lease.

    

    Section
      9.  Taxes:  Tenant agrees to pay when due, Tenant’s full
      proportionate share as determined pursuant to this Section of all ad valorem
      and
      non-ad valorem taxes and assessments, special or otherwise, which may be levied
      or assessed by any lawful authority against the Premises (“Taxes”) plus all
      applicable sales and excise taxes due thereon.  For the calendar years
      in which the Commencement and Expiration Dates occur, the taxes and assessments
      for such calendar year shall be prorated between Landlord and Tenant based
      upon
      the number of days of the lease term  during said calendar year and
      regardless of the due date of the tax or assessment, such tax or assessment
      shall be deemed to have been assessed prorata throughout the Lease
      Year.  Tenant shall be responsible for any other taxes, including
      tangible personal property taxes, in keeping with the character of this Lease
      as
      a triple net lease.  Tenant shall pay all Taxes directly to the
      governmental authority on or before the due date and Tenant shall provide
      Landlord with proof of payment of such Taxes.

    

    Section
      10.  Roof
      Repairs:  The parties acknowledge that certain roof repairs are
      required on the Premises.  Within a reasonable time after the
      Commencement Date, Tenant shall make such repairs at Tenant’s sole cost in the
      approximate amount of $25,000

    

    Section
      11.  Landlord's
      Insurance and Tenant's Reimbursement:  Tenant will pay for
      Landlord’s insurance of the following character:

    

    (a)           Hazard
      insurance on the building (but not on Tenant’s property) in the amount of
      $__________ insuring against loss or damage by fire, lightning, windstorms,
      hail, explosion, aircraft, smoke damage, vehicle damage and other risks from
      time to time included under “extended coverage” policies and such other risks as
      are or shall customarily be insured against.

    

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

    (b)           Liability
      insurance in the amount of $1,000,000 each occurrence.

    

    Tenant
      agrees to pay the premiums for the foregoing insurance directly to the insurer
      when due.  Landlord shall be the named insured and shall own the
      policy.  Policy periods, which differ from the Term, shall be prorated
      to the Term of this Lease.  The monthly rental payment shall be
      subject to change based upon changes in the premiums.  Notwithstanding
      the foregoing, attached hereto as Exhibit B is copy of the declaration of
      insurance which the parties agree satisfies the limits set forth in this
      Section.

    

    Section
      12.  Utilities and
      Dues:  Tenant shall pay all water, trash disposal, gas,
      electricity, fuel, light, heat, power and all other utility bills for the
      Premises, for all other services and materials used by Tenant in connection
      therewith, and for all association dues and similar charges, when
      due.  If Tenant does not pay the same when due, Landlord may pay the
      same on Tenant's account and Tenant hereby agrees to reimburse Landlord for
      any
      sums so expended by Landlord with the next monthly installment of Minimum Annual
      Rent due thereafter.  Tenant hereby acknowledges and agrees that
      Landlord shall not be obligated to supply or obtain, nor shall Landlord be
      liable for, nor shall Rent abate by reason of, any failure to furnish, or
      suspension or delays in furnishing, any utility service to the
      Premises.

    

    Section
      13.  Late
      Charges:  Any installment of Minimum Annual Rent or other amount
      payable pursuant to this Lease which is not paid when due shall thereafter
      bear
      interest at the rate of twelve-percent (12%) per annum until paid.  In
      addition, for each installment of Minimum Annual Rent or other amount payable
      pursuant to this Lease which is not paid by the fifth (5th) day after it becomes
      due, Tenant shall be obligated to pay to Landlord an administrative fee equal
      to
      five percent (5%) of such amounts to cover the cost of handling and processing
      such late payments.  In the event that any such interest or late
      charge is deemed to exceed the maximum legally allowable charge under applicable
      state law, such charge shall be reduced to the maximum legally allowable
      charge.  Collection of late charges shall not constitute a waiver of
      any other right or remedy available to Landlord for non-payment or late
      payment.

    

    Section
      14.  Quiet
      Possession:  Landlord is the sole owner of the Premises and has
      the full right and authority to enter into this lease without the consent of
      any
      other person.  Upon payment by Tenant of the rents herein provided,
      and upon the observance and performance of all terms, provisions, covenants
      and
      conditions on Tenant's part to be observed and performed, Tenant shall, subject
      to all of the terms, provisions, covenants and conditions of this Lease
      Agreement, peaceably and quietly hold and enjoy the Premises for the Term hereby
      demised.  Landlord is not aware of any condemnation proceedings,
      foreclosure proceedings or any other pending or threatened suit, which involves
      the Premises, or any environmental matter.  Landlord is not aware of
      any existing environmental problem regarding the Premises but discloses that
      the
      property was used previously in operation of a printing business.

    

    Section
      15.  Use of
      Premises:  The Premises for the entire Term shall be used solely
      for a light manufacturing and assemble and related office use, and no other
      use
      shall be made thereof without the prior written consent of the
      Landlord.

    

    Section
      16.  Return of
      Premises:  Upon the expiration or sooner termination of the Term
      of this Lease, Tenant shall quit and surrender to Landlord the Premises,
      broom-clean, in good order and condition, ordinary wear and tear excepted,
      and
      shall surrender to Landlord all keys to or for the Premises and inform Landlord
      of all combinations of locks, safes and vaults, if any, in the
      Premises.  Prior to the expiration or termination of this Lease,
      Tenant, at its expense, shall promptly remove from the Premises all personal
      property of Tenant, repair all damage to the Premises caused by such removal
      and
      restore the Premises to the condition which existed prior to the installation
      of
      the property so removed.  Any personal property of Tenant not removed
      within ten (10) days following the expiration or earlier termination of the
      Lease shall be deemed to have been abandoned by Tenant and may, in accordance
      with applicable state and local law, be

    
      
        
        

      

      
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    retained
      or disposed of by Landlord, as Landlord shall desire.  Tenant's
      obligation to observe or perform the covenants set forth in this Section shall
      survive the expiration or sooner termination of this Lease.

    

    Section
      17.  Alterations
      and Tenant's Work:  Tenant shall have no right to make any
      structural alterations or modifications to the Premises or to make any roof
      penetrations without the prior written approval of Landlord which written
      consent may not be unreasonably withheld.  All improvements must be
      made in accordance with all applicable federal, state, and local laws,
      regulations, ordinances, and other restrictions and in good and workmanlike
      manner.  Tenant shall be responsible for obtaining all required
      permits and approvals, from city, county, state, or other governing bodies
      having jurisdiction over the Premises.  Prior to commencing any work,
      Tenant shall provide Landlord with complete plans and specifications for the
      proposed work in form sufficient for obtaining a building
      permit.  Except as expressly provided otherwise in this Lease,
      Landlord shall have a period of twenty (20) days from receipt of the plans
      and
      specifications in which to approve or reject the submittals.  No
      approval by Landlord shall be deemed a warranty as to the fitness of the plans
      or specifications or the work to be performed thereunder.  Tenant is
      encouraged to discuss proposed improvements with Landlord prior to making formal
      submittals in order to save time and reduce comments.

    

    Section
      18. Ownership of
      Improvements:  All installations, alterations, additions and
      improvements upon the Premises made by or on account of Tenant hereto shall
      become the property of Landlord when installed and shall remain upon and be
      surrendered with the Premises upon expiration of the Lease or sooner termination
      of the Term.

    

    Section
      19.  Removal of
      Trade Fixtures:  Tenant may (if not in default hereunder), upon
      the expiration of this Lease or any extension thereof, remove all trade fixtures
      which it has placed in Premises, provided Tenant repairs all damage to Premises
      caused by such removal.

    

    Section
      20.  Repairs by
      Tenant/Landlord:  Except as otherwise provided in this Lease,
      Tenant shall, at Tenant's sole expense, keep and maintain the entire Premises
      in
      good order and repair whether such parts of the Premises were installed by
      Landlord or Tenant.  Tenant shall be responsible for all maintenance,
      repairs and replacements of the Premises or any portion thereof; provided that
      Landlord agrees to keep all fixtures pertaining to heating, air-conditioning,
      water, sewer and electrical system in good order and repair and agrees also
      that
      Landlord shall be liable for any damage to such heating, air-conditioning,
      water, sewer, and electrical systems except to the extent such damage is
      incurred by Tenant’s negligence, in which case Tenant shall repair and be liable
      for the damage.  Tenant agrees to return said Premises to Landlord at
      the expiration of this Lease in as good condition and repair as when first
      received.  Tenant shall not be responsible for the repair of the
      foundation, exterior, load bearing walls and trusses except:  (i)
      where such repair relates to any intentional or negligent act or omission of
      Tenant, Tenant’s agents, concessionaires, contractors, employees, invitees,
      licensees or trespassers; or (ii) as expressly provided otherwise in this
      Lease.  In addition to other remedies available to Landlord, if Tenant
      fails to perform any repairs required of Tenant hereunder within thirty (30)
      days of notice by Landlord, Landlord may cause such repairs to be performed
      and
      Tenant shall reimburse Landlord for any sums so expended with the next monthly
      installment of Minimum Annual Rent due hereunder.

    

    Section
      21.  Signs:   Landlord hereby approves all Tenant’s
      signage that may exist on the Commencement Date and any change in signage
      requires the prior written consent of Landlord.  Tenant shall, at
      Tenant's sole expense, maintain any permitted signage, decorations, lettering
      and advertising matter in good condition and repair and in full compliance
      with
      all applicable laws, ordinances, regulations and other governmental
      restrictions.  Upon the expiration of the Term, Tenant shall remove
      its name from any signage and repair any damage caused by such
      removal.

    
      
        
        

      

      
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    Section
      22.  Maintenance
      of Premises:  Except as otherwise provided in this Lease, Tenant
      shall be responsible for and shall maintain the Premises in a clean and
      well-kept condition at all times, at Tenant's sole cost and
      expense.  Without limiting the foregoing, Tenant hereby agrees that it
      (i) will keep the exterior of the Premises in a clean, attractive and well
      painted condition and free from mildew; (ii) will replace promptly with glass
      of
      like kind and quality, any plate glass or window glass of the Premises which
      may
      become cracked or broken; (iii) will maintain the Premises at its own expense
      in
      a clean, orderly and sanitary condition and free of insects, rodents, vermin
      and
      other pests; (iv) will not permit undue accumulations of garbage, trash, rubbish
      and other refuse, and will keep such refuse in proper containers on the
      Premises; (v) will maintain the lawn and landscaping; and (vi) will comply
      with
      all laws and ordinances and all valid rules and regulations of the government
      of
      the United States or any state, county or city in which the Premises are located
      and any other applicable unit of government, or any agency thereof, and all
      requirements of any public or private agency having authority over insurance
      rates with respect to the use or occupancy of the Premises by
      Tenant.  In addition to other remedies available to Landlord, if
      Tenant fails to perform any maintenance required of Tenant hereunder within
      thirty (30) days of notice by Landlord, Landlord may cause such maintenance
      to
      be performed and Tenant shall reimburse Landlord for any sums so expended with
      the next monthly installment of Minimum Annual Rent due
      hereunder.  Landlord will be responsible for such repairs to the roof
      as may be deemed necessary.

    

    Section
      23.  Construction
      Liens:  Landlord's interest in the Premises shall not be subject
      to liens for improvements made by Tenant.  Tenant shall not permit any
      construction or other similar lien to be filed and stand against the Tenant's
      leasehold interest or the fee estate, reversion or other estate of Landlord
      in
      the Premises by reason of any work, labor, service or materials performed for
      or
      furnished to Tenant or anyone occupying Premises (or any part thereof) through
      or under Tenant.  If any such lien shall be filed in contravention of
      the foregoing, Tenant shall, without cost or expense to Landlord and within
      ten
      (10) days after receiving notice of such lien, either cause the same to be
      discharged of record by payment, bonding, court order or otherwise as provided
      by law.  All materialmen, contractors and other persons contracting
      with Tenant with respect to the Premises or any part thereof, or any of their
      subcontractors, laborers or suppliers, or any such party who may avail himself
      of any lien against the Premises are hereby charged with notice that they shall
      look solely to Tenant to secure payment of any amounts due for work done or
      material furnished to Tenant or the Premises.  Tenant shall advise all
      persons furnishing labor, materials or services to the Premises in connection
      with Tenant's improvements thereof of the provisions of this
      Section.  Tenant shall promptly inform Landlord upon receipt, by
      Tenant, of any notice of the filing of such construction liens.  In
      the event Tenant shall fail to discharge said construction lien as aforesaid,
      Landlord, at its option, in addition to all other rights or remedies herei­n
      provided, may bond or pay said lien or claim without inquiring into the validity
      thereof for the account of Tenant, and all sums so advanced by Landlord shall
      be
      paid by Tenant as rent as and when Tenant is billed
      therefor.  Landlord may record a memorandum of this Lease in order to
      advise others of the above provisions.

    

    Section
      24.  Tenant's
      Insurance:

    

    (a)           Tenant
      shall, at Tenant's sole cost and expense for the mutual benefit of Landlord
      and
      Tenant, maintain throughout the Term of this Lease, personal and bodily injury
      and property damage liability insurance against claims for bodily injury, death
      or property damage occurring on, in or about the Premises of not less than
      One
      Million Dollars ($1,000,000) in respect of personal injury or death to any
      one
      person and of not less than One Million Dollars ($1,000,000) in respect of
      any
      one accident and of not less then One Million Dollars ($1,000,000) property
      damage aggregate coverage.  During the period of any construction,
      Tenant shall also cause its Contractors to also maintain such
      coverage.  Each such insurance policy shall be written as primary
      coverage and not contributing with or in excess of any coverage which Landlord
      may carry.

    
      
        
        

      

      
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    (b)           Tenant
      shall, at Tenant's sole cost and expense, obtain and maintain in effect
      throughout the Term insurance policies providing for the following
      coverage:  all risk and property insurance against fire, theft,
      vandalism, malicious mischief, sprinkler leakage and such additional perils
      as
      now are or hereafter may be included in a standard extended coverage endorsement
      insuring Tenant's trade fixtures, furnishings, equipment and all items of
      personal property of Tenant located on or in the Premises for the full
      replacement value thereof.  All proceeds of such insurance, so long as
      the Lease shall remain in effect, shall be used only to repair or replace the
      items so insured.

    

    (c)           Tenant
      shall, at Tenant's sole cost and expense, obtain and maintain in effect
      throughout the Term insurance policies providing for the following
      coverage:  all risk and property insurance against wind, hail, water,
      fire, theft, vandalism, malicious mischief, sprinkler leakage and such
      additional perils as now are or hereafter may be included in a standard extended
      coverage endorsement insuring the Premises in an amount not less than
      $2,100,000, adjusted for increases in the value of the Premises, from time
      to
      time.  Landlord shall be the named insured under such policies and all
      proceeds of such insurance shall be payable solely to
      Landlord.  Deductibles under the insurance in this sub-Paragraph (c)
      shall be as are commercially available at the time of issuance and Landlord
      acknowledges and agrees that the deductibles presently available for wind/hail
      insurance is 10%.

    

    (d)           All
      insurance provided in this paragraph shall be effected under valid and
      enforceable policies issued by insurers of recognized responsibility which
      are
      licensed to do business in the state in which the Premises are located, are
      rated A+ or better by A.M. Best and have been approved in writing by Landlord,
      such approval not to be unreasonably withheld.  Prior to the earlier
      of the Commencement Date or Commencement of Tenant's Work, and thereafter not
      less than thirty (30) days prior to the expiration dates of each policy
      furnished pursuant to this paragraph, Tenant shall deliver to Landlord or
      Landlord's mortgagee, as directed by Landlord, the original or certified copy
      of
      the policy or policies, and/or renewals thereof, evidencing Tenant's continued
      insurance coverage as required hereunder and evidencing the payment of premiums
      necessary to maintain such insurance coverages.

    

    (e)           All
      policies of insurance provided in this paragraph shall name Landlord and, at
      Landlord's request Landlord's mortgagee and/or any management agent as
      additional-named insureds, unless indicated otherwise.  Each policy of
      insurance shall provide that such insurance policy shall not be cancelled unless
      Landlord shall have received twenty (20) days prior written notice of
      cancellation.  Tenant shall require its insurer(s) to include in all
      of Tenant's insurance policies which could give rise to a right of subrogation
      against Landlord a clause or endorsement whereby the insurer(s) shall waive
      any
      rights of subrogation against Landlord.  Tenant hereby releases
      Landlord and its partners, officers, directors, agents and employees from any
      and all liability or responsibility to Tenant or any person claiming by, through
      or under Tenant, by way of subrogation or otherwise, for any injury, loss or
      damage to Tenant's property covered by a valid and collectible fire insurance
      policy with extended coverage endorsement.

    

    (f)           Notwithstanding
      the foregoing, attached hereto as Exhibit C is copy of the declaration of
      insurance which the parties agree satisfies all the requirements and limits
      set
      forth in this Section.

    

    Section
      25.  Total or
      Partial Destruction:  In the case of damage to or destruction of
      the Premises by hurricane, fire, wind or other casualty, Tenant shall restore,
      repair, replace or rebuild the Premises as nearly as possible to the condition
      the Premises was in prior to such damage or destruction to the extent that
      Landlord makes the insurance proceeds available for the same (the
“Repairs”).  Landlord shall make available to Tenant any insurance
      proceeds which Landlord may receive as a result of such damage or destruction
      subject to such controls over disbursement as Landlord or its mortgagee may
      deem
      necessary to insure (i) that the Repairs will be made properly; (ii) that
      adequate funds have been escrowed by Tenant to

    
      
        
        

      

      
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    pay
      for
      any costs, expenses and repairs not covered by the insurance proceeds; (iii)
      that all contractors, subcontractors and suppliers will be paid in full; and
      (iv) that the Repairs will be made in conformity with plans and specifications
      approved by Landlord and in accordance with all applicable building codes,
      zoning ordinances and governmental laws and
      regulations.  Notwithstanding the above, if the damage or destruction
      shall occur within the six (6) months of the end of the Term and if the cost
      of
      the Repairs as estimated by Landlord or its architect or contractor shall exceed
      the aggregate remaining amounts of Annual Minimum Rent due under this
      Lease,  or in the event that the damage or destruction occurs anytime
      during the term of this Lease and the cost of the Repairs as estimated by
      Landlord or its architect or contractor in good faith, exceeds the aggregate
      remaining amounts of Annual Minimum Rent due under this Lease, then Tenant
      shall
      not be required to make the Repairs and either party may cancel this Lease.
      However, Landlord shall be entitled to all insurance proceeds on account of
      such
      destruction and damage.  In no event will Tenant be relieved of its
      responsibility to pay rental and other sums due under this Lease because of
      casualty to the Premises.  Tenant agrees to protect itself from
      possible casualty to the Premises and its obligation to pay rent by obtaining
      adequate business interruption insurance.

    

    Section
      26.  Condemnation:

    

    (a)           Eminent
      Domain. If fifty percent (50%) or more of the floor area of the Premises
      shall be taken or condemned by a government authority (including, for purposes
      of this Article, any purchase by such government authority in lieu of a taking),
      then either party may elect to terminate this Lease as of the date possession
      is
      required by the condemning authority by giving notice to the other party not
      more than sixty (60) days after the date on which such title shall vest in
      the
      authority.

    

    (b)           Rent
      Apportionment. In the event of any taking or condemnation of all or any part
      of the Premises, if this Lease shall not have expired or been terminated Tenant
      shall be entitled to a proportionate reduction in the Minimum Annual Rent paid
      hereunder from and after the date possession is required by the condemning
      authority, based on the proportion which the floor area taken from the Premises
      bears to the entire floor area of the Premises immediately prior to such
      taking.

    

    (c)           Temporary
      Taking. Notwithstanding anything to the contrary in this Section, the
      requisition of the Premises or any part thereof by military or other public
      authority for purposes arising out of a temporary emergency or other temporary
      situation or circumstances shall constitute a taking of the Premises by eminent
      domain only when the use or occupancy by the requisitioning authority is
      expressly provided to continue, or shall in fact have continued, for a period of
      one hundred eighty (180) days or more, and if the Lease is not thereafter
      terminated under the foregoing provisions of this Section, then for the duration
      of any period of use and occupancy of the Premises by the requisitioning
      authority, all the terms and provisions of this Lease and obligations of Tenant
      hereunder shall remain in full force and effect, except that the Minimum Annual
      Rent shall be reduced in the same proportion that the floor area of the Premises
      so requisitioned bears to the total floor area of the Premises, and Landlord
      shall be entitled to whatever compensation may be payable from the
      requisitioning authority for the use and occupation of the Premises for the
      period involved.

    

    (d)           Awards.
      Landlord shall have the exclusive right to receive any and all awards made
      for
      damages to the Premises accruing by reason of a taking or by reason of anything
      lawfully done in pursuance of public or other authority. Tenant hereby releases
      and assigns to Landlord all of Tenant’s rights to such awards, and covenants to
      deliver such further assignments and assurances thereof as Landlord may from
      time to time request, Tenant hereby irrevocably designating and appointing
      Landlord as its attorney-in-fact to execute and deliver in Tenant’s name and
      behalf all such further assignments thereof. However, Tenant shall have the
      right to make its own claim against the condemning authority for a separate
      award for the value of Tenant’s trade fixtures and equipment and for such moving
      and

    
      
        
        

      

      
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    relocation
      expenses as may be allowed by law which do not constitute part of the
      compensation for the Center and do not diminish the amount of the award to
      which
      Landlord would otherwise be entitled.

    

    Section
      27. Bankruptcy:

    

    (a)           Neither
      Tenant’s interest in this Lease, nor any estate hereby created in Tenant nor any
      interest herein or therein, shall pass to any trustee or receiver or assignee
      for the benefit of creditors or otherwise by operation of law, except as may
      specifically be provided pursuant to the Bankruptcy Code (11 USC §101 et.seq.),
      as the same may be amended from time to time.

    

    (b)           Rights
      and Obligations Under the Bankruptcy Code.

    

    (1)           Upon
      the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant,
      as debtor and as debtor-in-possession, and any trustee who may be appointed
      with
      respect to the assets of or estate in bankruptcy of Tenant, agree to pay monthly
      in advance on the first day of each month, as reasonable compensation for the
      use and occupancy of the Premises, an amount equal to the then-applicable
      monthly installments of Minimum Annual Rent and other charges otherwise due
      pursuant to this Lease.

    

    (2)           Included
      within and in addition to any other conditions or obligations imposed upon
      Tenant or its successor in the event of the assumption and/or assignment of
      this
      Lease are the following: (i) the cure of any monetary defaults and reimbursement
      of pecuniary loss within not more than thirty (30) days of assumption and/or
      assignment; (ii) the deposit of an additional sum equal to not less than three
      (3) months’ Minimum Annual Rent and other charges, which sum shall be determined
      by Landlord, in its sole discretion, to be a necessary deposit to secure the
      future performance under the Lease of Tenant or its assignee; (iii) the use
      of
      the Premises as set forth in this Lease and the quality, quantity and/or lines
      of merchandise, goods or services required to be offered for sale are unchanged;
      and (iv) the prior written consent of any mortgagee to which this Lease has
      been
      assigned as collateral security.

    

    Section
      28.  Indemnity:  Tenant agrees to defend, indemnify and
      hold Landlord harmless from and against all actions, claims, costs, damages,
      expenses, liabilities, losses and suits that (i) arise from or in connection
      with Tenant's possession, use, occupancy, management, construction, repair,
      maintenance or control of the Premises, or any portion thereof, or in any other
      manner that relates to the business conducted by Tenant in the Premises, or
      (ii)
      arise from or in connection with any intentional or negligent act or omission
      of
      Tenant, Tenant's agents, concessionaires, contractors, employees, invitees,
      licensees or trespassers, or that (iii) result from any default, breach,
      violation or nonperformance of this Lease or any provision herein by Tenant,
      or
      that (iv) arise from injury or death to persons or damage to property sustained
      in, on or about the Premises.  The indemnity contained in this Section
      shall survive the termination and expiration of this Lease.

    

    Section
      29.  Assignment
      and Subletting:  Notwithstanding any references to assignees,
      subtenants, concessionaires or other similar entities in this Lease, Tenant
      shall not without the prior written consent of Landlord, which consent may
      not
      be unreasonably withheld:  (i) assign or otherwise transfer, or
      mortgage or otherwise encumber, this Lease or any of its rights hereunder (nor
      allow any foreclosure of any permitted encumbrance or mortgage), (ii) sublet
      the
      Premises or any part thereof, or permit the use of the Premises or any part
      thereof by any persons other than Tenant or its agents, or (iii) otherwise
      permit the assignment or other transfer of this Lease or any of Tenant's rights
      hereunder voluntarily or by operation of law.  Any such attempted or
      purported transfer, assignment, mortgaging or encumbering of this Lease or
      any
      of Tenant's interest hereunder and/or any attempted or purported subletting
      or
      grant of a right to use or occupy all or a

    
      
        
        

      

      
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    portion
      of the Premises in violation of the foregoing sentence, whether voluntary or
      involuntary or by operation of law or otherwise, shall be a default
      hereunder.

    

    Section
      30.  Entry:  Landlord shall, throughout the Term, have
      the right to enter the Premises at reasonable hours to exhibit the same to
      prospective purchasers and/or mortgagees, to make such inspections as Landlord
      deems necessary, including without limitation, the right to inspect Tenant’s
      records and books to confirm Tenant’s compliance with the terms of this
      Lease.

    

    Section
      31.  Default:  Each of the following shall be deemed to
      be an Event of Default by Tenant and a breach by Tenant hereunder:

    

    (a)           the
      filing by or against (i) the Tenant, (ii) any permitted assignee, sublessee,
      transferee or successor, or (iii) any guarantor of this Lease, in any court,
      pursuant to any statute either of the United States or of any state, of a
      petition in bankruptcy or insolvency or a petition for reorganization or for
      the
      appointment of a receiver or trustee of all or a portion of the property of
      any
      of the aforesaid parties, or the making by any of the aforesaid parties of
      an
      assignment for the benefit of creditors, or the petitioning for or entering
      into
      an agreement pursuant to any statute either of the United States or of any
      state
      by any of the aforesaid parties, or the taking of this Lease under any writ
      or
      execution or attachment, or the issuance of any execution or attachment against
      any of the aforesaid parties or any of their property, or the dissolution or
      liquidation or the commencement of any action or proceeding for the dissolution
      or liquidation of any of the aforesaid parties;

    

    (b)           the
      failure to pay Minimum Annual Rent or any other monetary sum payable hereunder
      within ten  (10) days of the due date; or

    

    (c)           the
      failure to perform any non-monetary obligation of Tenant under this Lease,
      when
      such failure continues for more than ten (10) days after Landlord has given
      to
      Tenant a notice specifying the nature of such default, provided, however, that
      if Tenant commences to cure such breach within said ten (10) day period and
      thereafter diligently pursues the cure of such breach (not to exceed 90 days),
      then Tenant shall not be in default.

    

    Section
      32.  Landlord's
      Remedies Upon Default:  For the occurrence of an Event of Default
      by the Tenant under this Lease, the Landlord may, at his option, without notice
      to Tenant and without limiting any other right or remedy in law or in
      equity:

    

    (a)           treat
      the Lease as terminated and resume possession of the Premises, thereafter using
      the same exclusively for Landlord's own purposes, in which case Tenant shall
      not
      be liable for any rent accruing thereafter, however, Tenant shall remain liable
      for and shall pay to Landlord rental accrued prior to Landlord resuming
      possession together with any damage to the Premises or other damages and
      charges, as provided in this Lease;

    

    (b)           retake
      possession of the Premises for the account of the Tenant, holding the Tenant
      liable for damages, including the difference between the rentals and other
      charges stipulated to be paid and the net amount which Landlord recovers from
      reletting the Premises in which case Landlord may accelerate and declare
      immediately due and payable the balance of rent and other charges for the
      remainder of the lease term or Landlord may collect such rent and other charges
      as and when the same shall become due.

    

    (c)           not
      retake possession of the Premises, instead holding the Tenant liable for the
      balance of rent due for the remainder of the lease term together with all other
      damages and charges provided for in this

    
      
        
        

      

      
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    Lease,
      in
      which case, Landlord may accelerate and declare immediately due and payable
      all
      remaining rent and other charges for the balance of the lease term.

    

    In
      the event Landlord chooses option
      (b) above, Landlord may make such additions, alterations or improvements as
      Landlord in its sole discretion deems reasonable and may grant concessions
      and
      rental incentives to new tenants as Landlord deems reasonable and may pay real
      estate commissions to relet the Premises the costs of which shall be amortized
      over the primary term of any new lease in order to determine the net rentals
      which Landlord recovered from a reletting of the Premises.

    

    In
      the event Landlord chooses option
      (c) above and Tenant does not pay all accelerated sums within ten (10) days
      of
      demand, the Landlord may obtain possession of and relet the Premises and apply
      any rental collected to the outstanding balance or judgment without releasing
      Tenant from liability therefore.

    

    In
      the event Landlord accelerates
      future rental payments as provided above, the parties agree that the amount
      of
      monthly rental, tax and insurance payments as of the date of acceleration,
      plus
      any applicable sales tax, shall be multiplied by the number of months remaining
      in the lease term in order to determine the accelerated amount
      due.  The parties agree that no reduction to present value of the
      future rental income shall be made.  In exchange, Landlord shall
      forego the collection of future increases in rental and other
      charges.

    

    Section
      33.  Court Costs
      and Attorney's Fees:  Tenant shall, in addition to its other
      obligations hereunder, pay to Landlord, on demand, such expenses as Landlord
      may
      incur (regardless of whether or not suit is filed), including, without
      limitation, court costs and attorneys' fees (whether incurred out of court,
      in
      the trial court, on appeal, or in bankruptcy or administrative proceedings)
      and
      disbursements, in enforcing the performance of any obligation of Tenant under
      this Lease, collecting any sums due Landlord under this Lease, and/or obtaining
      possession of the Premises from Tenant.

    

    Section
      34.  Proration:  As to any items which are Tenant’s
      responsibility hereunder, but which are associated for or billed as part of
      the
      billing for a larger premises of which the Premises constitutes a part, the
      Tenant’s portion of such charges shall be based on a proration on the basis of
      the number of square feet occupied by Tenant as a fraction of the total square
      footage of space owned by Landlord which is the subject of such charges or
      billings.

    

    Section
      35.  Landlord's
      Liability:  Notwithstanding any provision hereof to the contrary,
      Tenant shall look solely to the estate and property of Landlord in and to the
      Premises (or the proceeds of insurance) (or the proceeds received by Landlord
      on
      a sale of such estate and property but not the proceeds of any financing or
      refinancing thereof) in the event of any claim against Landlord arising out
      of
      or in connection with this Lease, the relationship of Landlord and Tenant or
      Tenant's use of the Premises, and Tenant agrees that the liability of Landlord
      arising out of or in connection with this Lease, the relationship of Landlord
      and Tenant or Tenant's use of the Premises, shall be limited to such estate
      and
      property of Landlord (or sale proceeds).  No other properties or
      assets of Landlord shall be subject to levy, execution or other enforcement
      procedures for the satisfaction of any judgment (or other judicial process)
      or
      for the satisfaction of any other remedy of Tenant arising out of or in
      connection with this Lease, the relationship of Landlord and Tenant or Tenant's
      use of the Premises, and if Tenant shall acquire a lien on or interest in any
      other properties or assets by judgment or otherwise, Tenant shall promptly
      release such lien on or interest in such other properties and assets by
      executing, acknowledging and delivering to Landlord an instrument to that effect
      prepared by Landlord's attorneys.  Landlord shall have no liability to
      Tenant for failure to perform Landlord's obligations hereunder where such
      failure(s) is due to causes beyond Landlord's control, including, but not
      limited to, acts of God, war, civil commotion, strikes, and embargoes; nor
      shall
      any such failure entitle Tenant to any abatement or reduction in rent, except
      as
      may be expressly provided herein, or

    
      
        
        

      

      
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    any
      claim
      of actual or constructive eviction.  Tenant shall not be entitled to
      any compensation or reduction in rent by reason of inconvenience or loss arising
      from Landlord's entry onto the Premises as authorized hereunder.

    

    Section
      36.  Security
      Deposit:  There is no security deposit.

    

    Section
      37.  Estoppel
      Certificate:  Tenant shall, without charge therefor and within
      five (5) days after any request therefor by Landlord, execute, acknowledge
      and
      deliver to Landlord a written estoppel certificate, in recordable form,
      certifying to Landlord, any Mortgagee, or any purchaser of the Premises or
      any
      other person designated by Landlord, as of the date of such estoppel
      certificate: (i) that Tenant is in possession of the Premises, has
      unconditionally accepted the same (or any conditions to such acceptance) and
      is
      currently paying the rent reserved hereunder; (ii) that this Lease is unmodified
      and in full force and effect (or if there has been modification, that the same
      is in full force and effect as modified and setting forth such modifications);
      (iii) whether or not there are then existing any set-offs or defenses against
      the enforcement of any right or remedy of Landlord, or any duty or obligation
      of
      Tenant, hereunder (and, if so, specifying the same in detail); (iv) the dates,
      if any, to which any rent has been paid in advance; (v) that Tenant has no
      knowledge of any uncured defaults on the part of Landlord under this Lease
      (or
      if Tenant has knowledge of any such uncured defaults, specifying the same in
      detail); (vi) that Tenant has no knowledge of any event having occurred that
      authorized the termination of this Lease by Tenant (or if Tenant has such
      knowledge, specifying the same in detail); and (vii) any other matters that
      Landlord or its mortgagee may reasonably require to be confirmed.

    

    Section
      38.  Brokers:  Tenant warrants and represents that there
      was no broker or agent instrumental in consummating this Lease except the
      following: NONE. Tenant agrees to indemnify and hold Landlord harmless against
      any claims for brokerage or other commissions arising by reason of a breach
      by
      Tenant of this Section.  Landlord represents and warrants that it has
      not involved any real estate broker or agent in connection with this Lease
      and
      agrees to indemnify and hold harmless Tenant against any claims for brokerage
      or
      other commissions arising out of Landlord’s actions.

    

    Section
      39.  Notices:  Notices to Landlord under this Lease
      shall be given in writing to the following addresses or fax numbers unless
      a
      different address or fax number is specified.

    

    Landlord's
      Notice Address:

    _____________________

    _____________________

    _____________________

    Attention:  __________

    

    Notices
      to Tenant under this Lease may be delivered to the Premises or to the following
      address or fax number:

    

    With
      copy to:

    

    Robert
      Macaulay

    Adorno
      & Yoss LLP

    2525
      Ponce de Leon Boulevard

    Miami,
      FL
      33134

    

    
      
        
        

      

      
        27

        
          

        

      

      
        
        

      

    

    Notice
      shall be deemed given upon delivery to the above address by hand delivery or
      overnight mail service or upon transmission by facsimile or five (5) days after
      mailing certified mail, return receipt requested.

    

    Section
      40.  General
      Provisions:

    

    (a)           Counterparts:  This
      Lease may be executed in several counterparts, but all counterparts shall
      constitute one and the same instrument.  Delivery of a facsimile copy
      shall be deemed delivery of an original.

    

    (b)           Recording:  Tenant
      shall not record this Lease.  Landlord shall have an absolute right to
      record a memorandum of lease evidencing this Lease, and Tenant agrees to execute
      such memorandum of lease upon Landlord's request.

    

    (c)           Waiver
      of Jury Trial/Counterclaims:

    

    (i)  Landlord
      and Tenant
      hereby waive trial by jury in any action, proceeding, or counterclaim brought
      by
      either of the parties hereto against the other on, or in respect of, any matter
      whatsoever arising out of, or in any way connected with, this Lease, the
      relationship of Landlord and Tenant hereunder, Tenant’s use or occupancy of the
      Premises and/or any claim of injury or damage.

    

    (ii)  Tenant
      shall not impose
      any counterclaims in a summary proceeding to recover possession or any other
      action based on termination or holdover.

    

    (d)           Rights
      Cumulative:  All rights, powers and privileges conferred hereunder
      upon the parties hereto shall be cumulative, and shall be in addition to those
      available at law or in equity.

    

    (e)           Waiver
      of Rights:  No failure of Landlord to exercise any power given
      Landlord hereunder, or to insist upon strict compliance by Tenant with its
      obligation hereunder, and no custom or practice of the parties at variance
      with
      the terms hereof constitute a waiver of Landlord's right to demand exact
      compliance with the terms hereof.

    

    (f)           Time
      of Essence:  Time is of the essence in this
      agreement.

    

    (g)           Headings:  The
      captions, section numbers and index appearing in this Lease are inserted only
      as
      a matter of convenience and in no way define, limit, construe, or describe
      the
      scope of intent of such sections of this Lease nor in any way affect this
      Lease.

    

    (h)           Governing
      Law:  This Lease shall be governed by the laws of the State of
      Florida.  Venue for any disputes concerning this Lease shall be
      Broward County, Florida.

    

    (i)           Severability:  If
      any provision 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, or the application of such provision to persons or circumstances
      other than those as to which it is invalid or unenforceable, shall not be
      affected thereby, and each provision of this Lease shall be valid and be
      enforced to the fullest extent permitted by law.

    

    (j)           Entire
      Agreement:  This Lease contains the entire agreement of the
      parties hereto and no representations, inducements, promises or agreements,
      oral
      or otherwise, between the parties not embodied herein, shall be of any force
      or
      effect.

    
      
        
        

      

      
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    Section
      44.  Radon
      Gas:  Radon is a naturally occurring radioactive gas that, when it
      has accumulated in a building in sufficient quantities, may present health
      risks
      to persons who are exposed to it over time.  Levels of radon that
      exceed federal and state guidelines have been found in buildings in
      Florida.  Additional information regarding radon and radon testing may
      be obtained from your county public health unit.  Landlord shall have
      no obligation to mitigate any radon.

    

    IN
      WITNESS WHEREOF, the parties have executed, or caused to be executed this Lease
      as the day and year above written.

    

    

    WITNESSES:                                                                                     LANDLORD:

    

    ________________________________________

    

    (Printed
      Name)___________________________

    

    By:                                                      

    (Printed
      Name)___________________________                                                                                                           Its:

    

    

    

    TENANT:

    

    IMAGING
      DIAGNOSTIC SYSTEMS,
      INC.

    

    

    (Printed
      Name)___________________________

    

    By:                                                      

    (Printed
      Name)___________________________                                                                                                           Its:

    

    

    
      
        
        

      

      
        29

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

    

    DESCRIPTION
      OF PREMISES

    

    

    The
      land
      referred to in this policy is situated in the County of Broward, State of
      Florida, and is described as follows:

    

    Lots
      4 and 5, of Landmark Industrial
      Park, according to the plat thereof, as recorded in plat book 96, page 40,
      public records of Broward County, Florida.

    

    
      
        
        

      

      
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    EXHIBIT
      B

    

    LANDLORD’S
      INSURANCE

    

    

    

    

    
      
        
        

      

      
        31

        
          

        

      

      
        
        

      

    

    EXHIBIT
      C

    

    TENANT’S
      INSURANCE

     

     

     

     

     

     

     

     32

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