Document:

exhibit_10-54.htm

LEASE AGREEMENT

2000 MAIN STREET, WESTON, FLORIDA

Between

2000 MAIN STREET ASSOCIATES, LLC

as Landlord

and

THE ULTIMATE SOFTWARE GROUP, INC.

doing business in Florida as US Group (DE) Inc.

as Tenant

and

WESTON COMMON AREA LLC,

as Owner of the Weston Town Center Common Property

Dated

November 3, 2010

  

  

  

TABLE OF CONTENTS

 

	
1

	
   DEMISED PREMISES

	
1

	  	  	  
	
2

	
   TERM                                                                       

	
2

	  	  	  
	
3

	
   RENT

	
2

	  	  	  
	
4

	
   REPRESENTATIONS AND WARRANTIES OF LANDLORD AND COMMON AREA OWNER

	
5

	  	  	  
	
5

	
    INTERIOR IMPROVEMENTS AND POSSESSION OF THE PREMISES

	
5

	  	  	  
	
6

	
    PERMITTED USE OF PREMISES

	
5

	  	  	  
	
7

	
    WESTON TOWN CENTER COMMON PROPERTY

	
7

	  	  	  
	
8

	
    SIGNS

	
8

	  	  	  
	
9

	
    UTLITIES & TRASH REMOVAL; LANDLORD’S ADDITIONAL SERVICES

	
8

	  	  	  
	
10

	
   MAINTENANCE & REPAIRS

	
9

	  	  	  
	
11

	
   ALTERATIONS

	
9

	  	  	  
	
12

	
   INSURANCE, WAIVER & INDEMNITY

	
11

	  	  	  
	
13

	
   DAMAGE OR DESTRUCTION

	
12

	  	  	  
	
14

	
   ASSIGNMENT, TRANSFER & SUBLETTING

	
14

	  	  	  
	
15

	
   LANDLORD'S AND ASSOCIATION’S INTERESTS NOT SUBJECT TO LIENS

	
15

	  	  	  
	
16

	
   EMINENT DOMAIN

	
15

	  	  	  
	
17

	
  SUBORDINATION & ATTORNMENT

	
16

	  	  	  
	
18

	
   END OF TERM

	
16

	  	  	  
	
19

	
   ENVIRONMENTAL COMPLIANCE

	
17

	  	  	  
	
20

	
   DEFAULT

	
18

	  	  	  
	
21

	
   MISCELLANEOUS

	
21

	  	  	  
	  	
EXHIBIT A WESTON TOWN CENTER SITE PLAN

	
27

	  	  	  
	  	
EXHIBIT B SECOND FLOOR PLAN OF BUILDING

	
28

	  	  	  
	  	
EXHIBIT C TENANT’S WORK

	
29

	  	  	  
	  	
EXHIBIT D WESTON TOWN CENTER RULES AND REGULATIONS

	
30

	  	  	  
	  	
EXHIBIT E EASEMENT AGREEMENT

	
33

  

  

LEASE AGREEMENT

THIS LEASE AGREEMENT (this "Lease") is made and entered into as of the Execution Date (as hereinafter defined), by and between, 2000 MAIN STREET ASSOCIATES, LLC, a Delaware limited liability company, whose address is c/o Belmont Investment Corp., 1400 N. Providence Road, Suite 415, Media, PA 19063 (the “Landlord”), and THE ULTIMATE SOFTWARE GROUP, INC., a Delaware Corporation doing business in Florida as US Group (DE) Inc. (the "Tenant"), whose address is 2000 Ultimate Way, Weston, FL 33326, and WESTON COMMON AREA LLC, a Florida limited liability company (“Common Area Owner”), whose address is c/o Belmont Investment Corp., 1400 N. Providence Road, Suite 415, Media, PA 19063, not as the Landlord but as owner of the “Weston Town Center Common Property” of “Weston Town Center” (as such terms are defined herein) and to consent to any provisions regarding the Weston Town Center Common Property of Weston Town Center.

WITNESSETH

WHEREAS, Tenant desires to lease from Landlord the second floor of a building located at 2000 Main Street, Weston, Florida, consisting of approximately 19,950 square feet of usable area on two floors (the "Building"), with the intention and for the purpose of operating a particular business therein, all as more particularly hereinafter provided and described;

WHEREAS, Landlord is the fee simple title owner of the Building and the real property upon which it is located; and

WHEREAS, Common Area Owner is the fee simple owner of all of the Weston Town Center Common Property, as hereinafter defined; and

WHEREAS, the Building is located within a development commonly known as Weston Town Center, located in Weston, Broward County, Florida, which is a mixed-use property with uses including, but not limited to, retail shopping, restaurants, professional offices, residential apartments and other uses, covering an area of approximately twenty-five (25) acres ("Weston Town Center"); and

WHEREAS, Weston Town Center is subject to a Declaration of Covenant Shared Parking recorded on March 1, 2000 in Official Records Book 30296, Pages 1010 - 1021, of the Public Records of Broward County, Florida, as the same may have been and may hereafter be amended, supplemented and/or modified from time to time, the same being incorporated herein by reference (the “Shared Parking Declaration”); and

 

 

WHEREAS, Weston Town Center consists of a number of multi-tenant mixed use buildings, both attached and detached, single-level and multi-level (collectively the "Weston Town Center Buildings" and individually a "Weston Town Center Building"), together with certain other land and common facilities and improvements including, but not limited to, parking areas, driveways, truckways, delivery passages, truck-loading areas, access and egress roads, walkways, footbridges, landscaped and planted areas, elevators and public rest rooms  (collectively, the "Weston Town Center Common Property") as the same may now or hereafter be located, constructed and developed on the Weston Town Center, which Weston Town Center Common Property shall, in accordance with the provisions of this Lease and the Association Declaration (as hereinafter defined) be available for the non-exclusive common and joint use and benefit of the Landlord, Tenant, and all other tenants, owners and occupants of Weston Town Center, and their respective employees, agents, licensees, customers and invitees; and

WHEREAS, the approximate location, but not the specific configuration, of the Weston Town Center Buildings and the Weston Town Center Common Property within Weston Town Center and the respective relationships of each to the other are generally shown and depicted on the schematic site plan of Weston Town Center (the "Weston Town Center Site Plan") attached hereto as Exhibit A.

NOW, THEREFORE, for and in consideration of the premises hereof, the sums of money to be paid hereunder, and the mutual and reciprocal obligations undertaken herein, the parties hereto do hereby covenant, stipulate and agree as follows:

	
1.  

	
DEMISED PREMISES.

 

1.1.            Premises. The Landlord demises and leases to the Tenant, and the Tenant rents from Landlord, that certain portion of the second floor of the building located at 2000 Main St., Weston, Broward County. Florida (the “Building”), said portions being designated as Areas “A”, “A-1”, “B”, “C”, “D”, “E”, “F”, “G”, and “H”, on the second floor plan of the Building attached hereto as Exhibit B (“Premises”).  The Premises and the second floor of the Building shall be configured approximately as shown on the floor plan attached hereto as Exhibit B. The Premises shall include only the space and appurtenances specifically demised and granted in this Lease and do not include the roof, the air space above the roof, the space and ground below the floor, the dividing walls between the Premises and the adjoining premises within the Building, if any, and the exterior walls of the Premises, if the Premises occupies less than the entire Building, and of the Building.  Landlord and Common Area Owner also grant Tenant the rights under this Lease to use in common with Landlord and other tenants, occupants and visitors to the Building the common walkways and sidewalks adjacent to the Building and/or of the Weston Town Center Common Property, the Building lobby (but not for advertising or promotional purposes), entrances, stairs and elevators, and, if the Premises include less than an entire floor of the Building, the common lobbies, hallways, and toilets, and other common facilities of such floor (“Building Common Areas”).

 

 

  

1

  

1.2.            Usable Area of Premises. The Usable Area of the Premises is approximately 10,741.17 square feet. The measurement and determination of the Usable Area of the Premises has been done in accordance with BOMA Standards.  The Usable Area of the Premises has been stipulated and agreed to by the parties and the Base Rent shall not be changed even if it is subsequently determined that the Premises contain either a larger or a smaller area than indicated herein.

 

 

1.3.            Quiet Enjoyment.  Landlord covenants and agrees that so long as Tenant shall timely pay all rents due to Landlord from Tenant hereunder and keep, observe and perform all covenants, promises and agreements on Tenant's part to be kept, observed and performed hereunder, Tenant shall and may peacefully and quietly have, hold and occupy the Premises free of any interference from Landlord; subject, however, and nevertheless, to each of the terms, provisions and conditions of this Lease.

 

	
2.  

	
TERM.

 

2.1.            Term.  The term of this Lease shall be seven (7) years plus the number of days from the Commencement Date to the Rent Commencement Date (“Term”) unless otherwise terminated or extended as provided herein.  The word “Term” shall include any “Option Term” (as hereinafter defined), subject to the terms and provisions of Section 2.3, below.

 

 

2.2.            Commencement Date. The Term of this Lease shall commence (“Commencement Date”) on the date of the last one of Landlord and Tenant to execute this Lease.  Tenant shall commence the payment of Base Rent on April 1, 2011 (“Rent Commencement Date”). Notwithstanding that the Commencement Date shall be established in the manner set forth above, Tenant and Landlord acknowledge and agree that this Lease is binding upon them as of the date of the last one of Tenant and Landlord to sign this Lease and deliver a fully-executed original to the other party (the “Execution Date”).

 

 

2.3.            Option to Renew.  Provided Tenant shall not be in default hereunder beyond any applicable notice or cure periods, Tenant shall have the option to renew this Lease for one (1) additional five (5) year terms (“Option Term”), provided, however, that Tenant delivers to Landlord written notice of Tenant’s exercise of such option at least one hundred eighty (180) days prior to the end of the initial Term.  In the event Tenant fails to deliver its written notice to renew the Term of this Lease as and when required in the preceding sentence, Tenant shall be deemed to have irrevocably waived its right to the applicable Option Term. If the Term of this Lease is extended as aforesaid, all of the terms and conditions of this Lease shall remain in full force and effect during the Option Term (other than the right to extend the term of this Lease

  

	
3.  

	
RENT.

 

3.1.            Payment of Rent.  Tenant hereby covenants and agrees to pay rent to Landlord, which rent shall be as hereinafter provided. The payment of said rent shall commence on the Rent Commencement Date. The rent shall be paid in equal monthly installments on the first day of each and every month in advance. Said rent shall be paid to the Landlord at c/o Weston Leasing, 1675 Market Street, Suite 213, Weston, FL 33326, or at such other place as may be designated in writing from time to time by the Landlord.

 

 

3.2.            Base Rent.  Tenant shall pay to Landlord, in lawful money of the United States of America, without any prior demand by Landlord and without any deduction or set-off (except as otherwise provided in this Lease), the applicable “Base Rent” set forth below in this Section 3.2, in advance, on the first (1st) day of each calendar month commencing on the Rent Commencement Date, plus sales tax and use tax as required by law.  The parties acknowledge and agree that the annual amount of Base Rent for the first 12-months commencing as of the Rent Commencement Date has been arrived at by multiplying the Usable Area of the Premises times $29.00 per foot.

 

  

2

  

Base Rent:

 

	
Period

	 	
Monthly Amount

	 	 	
Annual Amount

	 
	  	 	 	 	 	 	 
	
Rent Commencement Date through the day prior to

	 	 	 	 
	
the 1st anniversary of the Rent Commencement Date       

	 	$	25,957.83	 	 	$	311,493.93	 
	  	 	 	 	 	 	 	 	 
	
1st anniversary of the Rent Commencement Date

	 	 	 	 	 
	
through the day prior to the 2nd anniversary of the

	 	 	 	 	 
	
Rent Commencement Date                 

	 	$	26,736.56	 	 	$	320,838.78	 
	  	 	 	 	 	 	 	 	 
	
2nd anniversary of the Rent Commencement Date

	 	 	 	 	 
	
through the day prior to the 3rd anniversary of the

	 	 	 	 	 
	
Rent Commencement Date                  

	 	$	27,538.66	 	 	$	330,463.94	 
	  	 	 	 	 	 	 	 	 
	
3rd anniversary of the Rent Commencement Date

	 	 	 	 	 
	
through the day prior to the 4th anniversary of the

	 	 	 	 	 
	
Rent Commencement Date                  

	 	$	28,364.82	 	 	$	340,377.86	 
	  	 	 	 	 	 	 	 	 
	
4th anniversary of the Rent Commencement Date

	 	 	 	 	 
	
through the day prior to the 5th anniversary of the

	 	 	 	 	 
	
Rent Commencement Date                                                       

	 	$	29,215.77	 	 	$	350,589.20	 
	  	 	 	 	 	 	 	 	 
	
5th anniversary of the Rent Commencement Date

	 	 	 	 	 
	
through the day prior to the 6th anniversary of the

	 	 	 	 	 
	
Rent Commencement Date                                                                         

	 	$	30,092.24	 	 	$	361,106.87	 
	  	 	 	 	 	 	 	 	 
	
6th anniversary of the Rent Commencement Date

	 	 	 	 	 
	
through the day prior to the 7th anniversary of the

	 	 	 	 	 
	
Rent Commencement Date                                                                         

	 	$	30,995.01	 	 	$	371,940.08	 

If Tenant exercises each of its renewal options as provided in Section 2.3 above, Base Rent payable during the Option Term shall be as follows:

  

3

  

	
Period

	 	
Monthly Amount

	 	 	
Annual Amount

	 
	  	 	 	 	 	 	 
	
7th anniversary of the Rent Commencement Date

	 	 	 	 
	
through the day prior to the 8th anniversary of the

	 	 	 	 
	
Rent Commencement Date                 

	 	$	31,924.86	 	 	$	383,098.28	 
	  	 	 	 	 	 	 	 	 
	
8th anniversary of the Rent Commencement Date

	 	 	 	 	 
	
through the day prior to the 9th anniversary of the

	 	 	 	 	 
	
Rent Commencement Date                  

	 	$	32,882.60	 	 	$	394,591.23	 
	  	 	 	 	 	 	 	 	 
	
9th anniversary of the Rent Commencement Date

	 	 	 	 	 
	
through the day prior to the 10th anniversary of the

	 	 	 	 	 
	
Rent Commencement Date                  

	 	$	33,869.08	 	 	$	406,428.97	 
	  	 	 	 	 	 	 	 	 
	
10th anniversary of the Rent Commencement Date

	 	 	 	 	 
	
through the day prior to the 11th anniversary of the

	 	 	 	 	 
	
Rent Commencement Date                                                       

	 	$	34,885.15	 	 	$	418,621.84	 
	  	 	 	 	 	 	 	 	 
	
11th anniversary of the Rent Commencement Date

	 	 	 	 	 
	
through the day prior to the 12th anniversary of the

	 	 	 	 	 
	
Rent Commencement Date                                                                         

	 	$	35,931.71	 	 	$	431,174.04	 

3.3.            Late Fee.  If any payment of Base Rent is not received by Landlord within five (5) days after its due date, Tenant shall pay to Landlord on each occasion as Additional Rent (as hereinafter defined) a service charge equal to $100.00 for the inconvenience of the collection and processing of such late payment, provided however, if the payment is not received by Landlord within ten (10) days after its due date, the amount of the late fee shall be increased from $100 to $500.

 

 

3.4.            Returned Check Fee.   In the event that Tenant’s check is returned for any reason, Tenant agrees to pay Landlord $50.00 as a handling charge in addition any applicable late charge. Returned checks must be redeemed by cashier’s check, certified check or money order. In the event that more than one (1) check is returned, Tenant agrees to pay all subsequent rents and charges by cashier’s check, certified check or money order.

 

 

3.5.            Additional Rent.  If Landlord shall make any expenditure for which Tenant is responsible or liable under this Lease, or if Tenant shall become obligated to Landlord under this Lease for any sum other than Base Rent, the amount thereof shall be deemed to constitute additional rent (the "Additional Rent"), whether or not the same be so designated, and shall be due and payable by Tenant to Landlord simultaneously with the next succeeding monthly installment of Base Rent or at such other time as may be expressly provided in this Lease for the payment of the same.

 

 

3.6.            Sales Tax.  In addition to the Base Rent, Additional Rent and any other sums or amounts required to be paid by Tenant to Landlord pursuant to the provisions of this Lease, Tenant shall also pay to Landlord the amount of any applicable sales, use or excise tax on any such rents or other sums or amounts so paid by Tenant to Landlord, whether the same be levied, imposed or assessed by the State of Florida or any other federal, state, county or municipal governmental entity or agency. Any such sales, use or excise taxes shall be paid by Tenant to Landlord at the same time that each of the Base Rent, Additional Rent or any other sum or amount with respect to which such taxes are payable are paid by Tenant to Landlord.

 

 

3.7.            Gross Lease.  The parties hereby acknowledge and agree that this Lease is a “gross lease”, meaning that the Base Rent is inclusive of all charges payable by Tenant in connection with this Lease (except for Additional Rent and other charges that are specifically set forth in this Lease).  Except as otherwise expressly provided in this Lease, Tenant shall not be liable to pay or reimburse Landlord, the Association nor the Common Area Owner nor any other party for all or any portion of any charges or expenses incurred by Landlord, the Association, the Common Area Owner and/or such other party for any costs associated with the operation, maintenance, repair, replacement or alteration of any land or improvements located in Weston Town Center, the Weston Town Center Common Property, Building Common Areas, or the Building, including, without limitation, expenses for taxes, insurance, security, maintenance, management and/or administration of said areas.

 

  

4

  

	
4.  

	
REPRESENTATIONS AND WARRANTIES OF LANDLORD AND COMMON AREA OWNER.

Each of Landlord and the Common Area Owner, in order to induce Tenant to enter into this Lease, hereby represents and warrants to Tenant that, as of the Execution Date:  (a) it is duly organized and validly existing under the laws of the State of Florida and has full power and authority to conduct its business as presently conducted and to enter into this Lease; and (b) no condition, circumstance, event, agreement, document, instrument, restriction, litigation or proceedings (or threatened litigation or proceeding or basis therefor) exists which could adversely affect the ability of Landlord or the Common Area Owner to perform its obligations under this Lease or which would constitute a default on the part of Landlord or the Common Area Owner under this Lease, or which would constitute such a default with the giving of notice or lapse of time, or both.

 

	
5.  

	
INTERIOR IMPROVEMENTS AND POSSESSION OF THE PREMISES.

 

5.1.            Tenant’s Work.  Landlord hereby acknowledges receipt of, and hereby approves those plans for, interior improvements to be made to the Premises by Tenant in accordance with the plans attached hereto as Exhibit C (“Tenant’s Work”).  No further or additional consent or approval of Landlord is required for Tenant’s Work.  Tenant’s Work shall comply with all applicable laws, ordinances and building codes (including, without limitation, the Americans With Disabilities Act of 1990, the Florida Americans With Disabilities Accessibility Implementation Act, and the related implementing regulations, codes, rules and accessibility guidelines, as such acts and related regulations, codes, rules and guidelines may be amended from time to time (collectively, the “ADA”)).  Tenant shall have the right, without payment of rent or any other charges, after the Commencement Date and prior to Rent Commencement Date, whenever Tenant shall deem it appropriate, to enter the Premises to inspect the same, and at Tenant’s election, to commence Tenant’s work.  All work performed in the Premises by the Tenant shall be done in a good and first class workmanlike manner and free of any liens on Landlord’s fee simple interest or on Tenant’s leasehold interest in the Premises.  Landlord agrees to do, execute, acknowledge and deliver all such further acts, instruments and assurances and to take all such further action (all at no cost to Landlord) as shall be necessary or desirable to fully consummate and effect the completion of Tenant’s Work, including, but not limited to, providing Tenant and Tenant’s employees, agents, contractors and licensees with full and complete access to the Building and the Common Property surrounding the Building at all times from and after the Commencement Date.  In the event that, in the course of completing Tenant’s Work, Tenant experiences any interference, interruption, delay or disturbance that is caused by Landlord or any party claiming by, through or under Landlord, rent shall abate on a per diem basis in proportion to such interference, interruption, delay or disturbance.  Upon completion of Tenant’s Work, Tenant, at its expense, shall install its furniture, trade fixtures, and equipment so that Tenant can occupy the Premises for the use and purpose intended.

 

 

5.2.            “AS IS” Condition.  Other than the air conditioning system servicing the Premises, Tenant certifies that it has inspected the Premises and accepts same in its existing "AS IS" condition. No repair, work, alterations or remodeling of the Premises is required to be done by Landlord as a condition of this Lease other than a contribution by Landlord to Tenant, in the minimum amount of $10,000.00 to be paid on the Rent Commencement Date, and applied toward the repair, replacement and/or upgrade of the air condition system by Tenant. Landlord and Tenant hereby agree to negotiate in good faith for additional contributions, for the repair, replacement and/or upgrade of the air conditioning system, if necessary, and if same is as a result of a pre-existing condition and not as a result of Tenant’s improvements, and as same is discovered upon Tenant’s access of the Premises and further inspection of the air conditioning system servicing the Premises.  Upon acceptance of possession of the Premises, Tenant shall thereafter be responsible for the security and integrity of the Premises and Landlord shall have no responsibility or liability for any damage to or loss of property as a result of theft, vandalism or other act causing damage to the Premises.  Not later than the Rent Commencement Date, Tenant shall cause to be installed within the Premises all Trade Fixtures reasonably required for the operation, as conducted by Tenant, of the business contemplated by this Lease to be operated on, in, and from the Premises (the "Trade Fixtures"). All Trade Fixtures so installed in the Premises by Tenant shall be in good condition.

 

	
6.  

	
PERMITTED USE OF PREMISES.

 

6.1.            Permitted Use; No Implied Covenant of Continued Operation.  Tenant shall occupy and use the Premises for operation of a computer software company, including, without limitation, customer service, support, training, management and administration, software research and development, and general office purposes (“Permitted Use”). Tenant agrees to open for the Permitted Use in the Premises on or before the Rent Commencement Date, subject to force majeure under Section 21.9, but once opened, Tenant shall not be obligated to continue operating for any period of time thereafter. Notwithstanding anything contained or set forth in this Lease to the contrary, nothing set forth in this Lease shall be construed, in any manner whatsoever, as an implied covenant of continuous operation on the part of Tenant, and Landlord specifically acknowledges that there is no covenant of continuous operation on the part of Tenant, express or implied.  In the event that Tenant elects to cease its business operations at the Premises, such cessation shall not be deemed to be an “Event of Default” hereunder, nor shall such cessation relieve Tenant of any of its liabilities or obligations under this Lease.

 

 

  

5

  

6.2.            Restrictions on Use.  Tenant shall not use nor permit the Premises to be used for any purpose other than the Permitted Use. All uses other than the Permitted Use are "Restricted Uses". Tenant shall not use or suffer anyone to use, the Premises, or any part thereof, for any purpose in violation of the laws of the United States, the State of Florida, or the ordinances and regulations of a county or a municipality having jurisdiction over the Premises or in violation of any publicly recorded restriction. Tenant further covenants and agrees to execute and comply promptly with all statutes, ordinances, rules, orders, regulations and requirements of federal, state, county and city governments regulating the use by Tenant of the Premises. In the event that Tenant or any of its agents or employees shall fail to comply with the foregoing provisions of this Section 6.2, then Tenant shall, without affecting or limiting any of the rights and remedies otherwise available to Landlord pursuant to the terms and provisions of this Lease, indemnify, defend, save and hold Landlord harmless from and against, and reimburse Landlord for, any and all obligations, damages, injunctions, suits, fines, penalties, demands, claims, costs, expenses, actions, liabilities, suits, proceedings and losses of whatever nature (including, without limitation, attorneys' fees and court costs), arising from such failure to so comply with the provisions of this Section 6.2.

 

 

6.3.            Compliance with Association Declaration.  The Premises and all operations conducted thereon, therein and therefrom shall at all times be in compliance with the Association Declaration.  For purposes of this Lease, the term “Association Declaration” shall mean the Declaration of Covenants for Weston Town Center, recorded on February 10, 2000 in Official Records Book 30249, Pages 1592 - 1702, of the Public Records of Broward County, Florida, as the same may have been and may hereafter be amended, supplemented and/or modified from time to time and shall also include the Articles of Incorporation, By-Laws, and Rules and Regulations of the Association, all as amended from time to time. Except as otherwise provided herein (specifically Section 21.20 of this Lease), Landlord covenants and agrees that it shall not violate, terminate or modify the Association Declaration or exercise any rights of consent or other rights thereunder which may materially adversely affect Tenant's use or enjoyment of the Premises, Building Common Areas, or Weston Town Center Common Property without Tenant's prior written consent thereto.  Landlord hereby grants and conveys to Tenant, its successors and assigns, for the Lease Term, the non-exclusive right and easement appurtenant to and for the benefit of the Premises and any occupant thereof and its customers, employees, and invitees, to use, for purposes of access, ingress, egress and parking, all those certain access, ingress, egress and parking easement areas granted to Landlord under the Association Declaration.  Landlord agrees, at Landlord’s sole cost and expense, to promptly and diligently enforce the provisions of the Association Declaration against any party to the Association Declaration for the benefit of Tenant.

 

 

6.4.            Compliance with Weston Town Center Rules and Regulations. The Premises and all business operations conducted on, in and from the Premises from time to time shall at all times be in compliance with rules and regulations promulgated by Landlord for and with respect to the operation of the Premises and Weston Town Center, as the same may be changed, amended or modified by Landlord from time to time, provided that no such change, amendment or modification shall materially adversely affect Tenant’s use or enjoyment of the Premises, Building Common Areas, or the Weston Town Center Common Property without Tenant’s prior written consent thereto. Additionally, the Premises and all business operations conducted on the Premises from time to time shall at all times be in compliance with the rules and regulations promulgated by the Weston Town Center Maintenance Association, Inc. (the “Association”) for and with respect to the operation of the Premises and Weston Town Center pursuant to the provisions of the Association Declaration as the same may be changed, amended or modified by the Association from time to time (subject to the limitations set forth in Section 6.3 above). The failure of Tenant to materially comply with, abide by or conform to, said rules and regulations following written notice of failure by Landlord to Tenant as required under Section 20 of this Lease, shall constitute an Event of Default by Tenant under this Lease.  Without limiting any of the terms or conditions of Section 6.3 above, Landlord shall not be liable or responsible to Tenant for the violation of any such rules and regulations by any other tenant of Weston Town Center or any other person or party, and the failure to enforce any such rules and regulations against Tenant or any other tenant of Weston Town Center shall not constitute a waiver of Landlord's or the Association’s right to do so, nor shall it be deemed a default by Landlord hereunder, or excuse compliance therewith by Tenant.  A copy of the existing Weston Town Center Rules and Regulations promulgated by Landlord are attached hereto as Exhibit D attached hereto and incorporated herein by reference.

 

 

6.5.            Weston Town Center Maintenance Association.  Tenant acknowledges that the Association Declaration encumbers the real property upon which Weston Town Center is located and that Landlord, as owner of Weston Town Center, is a member of the Association. Tenant further acknowledges and agrees that Landlord may or may not control the Association, but that even if Landlord has such right of control, same exists separate and apart from Landlord’s rights, duties and obligations hereunder and that Landlord shall not be obligated to exercise or refrain from exercising such control for Tenant’s benefit (subject to the provisions of Sections 6.3 and 6.4 above). Tenant acknowledges and agrees that while it is bound by the Association Declaration, the tenancy created by this Lease does not confer membership in the Association to Tenant and, further, that any rights, privileges or benefits flowing to Tenant from the Association Declaration or the Association derive solely through Landlord by virtue of this Lease and that Tenant has no separate entitlement to same but through Landlord.

 

  

6

  

	
7.  

	
WESTON TOWN CENTER COMMON PROPERTY.

 

7.1.            Tenant's Right to Use Weston Town Center Common Property. Tenant shall have and Landlord and the Common Area Owner hereby grants to Tenant and its employees, customers, patrons, suppliers, licensees and invitees, (during the Term of this Lease), the non-exclusive right, privilege and license to use and enjoy the Weston Town Center Common Property in common with Landlord and all others entitled to such use, including, without limitation, all tenants of Weston Town Center and their respective employees, customers, patrons, suppliers, licensees and invitees; subject, however, at all times, to the Association Declaration and the rules and regulations promulgated by Landlord and/or the Association from time to time (as limited by the terms of Sections 6.3 and 6.4 above), and to the terms and provisions of this Lease; and subject further to Landlord's and/or the Association’s right to grant to tenants within Weston Town Center the exclusive right to use portions of the Weston Town Center Common Property for signage and advertising purposes and for the construction, installation, maintenance and repair of trash/garbage dumpster facilities to serve the premises leased by such tenants and the businesses operated by such tenants, or such other use as Landlord may deem necessary in its sole and absolute discretion. In the event that Landlord or the Association deems it necessary to discourage non-customer use or prevent the acquisition of public rights in Weston Town Center, or prevent a dedication thereof or the accrual of any rights to any person or to the public therein, and, in particular, with respect to any portion of the Weston Town Center Common Property, Landlord or the Association may, from time to time (but at a minimum at least once a month), temporarily close all or portions of the Weston Town Center Common Property, erect private boundary markers, or take such other steps as it deems appropriate in its sole and absolute discretion for that purpose and no such action shall be deemed to constitute or considered as an eviction or disturbance of Tenant's quiet enjoyment or possession of the Premises so long as such steps are accomplished without substantial disruption of Tenant's business.

 

7.2.            Landlord Reservation of Rights. Landlord, the Association, and the Common Area Owner reserve the right, from time to time and at any time in its sole and absolute discretion, to perform maintenance, repairs and alterations to, and reduce or expand the size of, Weston Town Center and its various improvements and component parts; to change the name, size, number, design, configuration, location and legal description of any Buildings located within Weston Town Center, including, without limitation, that of the Building and to build additional stories thereon and erect in connection with any construction thereof, temporary scaffolds and other construction aids (provided, however, that access to the Premises by Tenant shall not be denied); and to thereby change the size, configuration, location and legal description of the Weston Town Center Common Property. Landlord, the Association, and the Common Area Owner also reserve the right to change the size, configuration, layout and pedestrian or vehicular traffic circulation pattern of all facilities and improvements from time to time located, developed and constructed on the Weston Town Center Common Property, and to enter into, modify and terminate easements and other agreements pertaining to the maintenance and use of the parking areas and other portions of the Weston Town Center Common Property. Landlord, the Association, and the Common Area Owner further reserves the right to install and operate music program services and loudspeaker systems within the Weston Town Center Common Property. Tenant agrees to cooperate with Landlord, the Association, and the Common Area Owner with respect to the exercise of any of the foregoing rights.

 

7.3.            Management and Maintenance of Weston Town Center Common Property.  The Weston Town Center Common Property shall at all times be subject to the exclusive management and control of the Association. The Association shall manage, operate and maintain the Weston Town Center Common Property and all facilities and improvements from time to time located, developed and constructed thereon specifically including, without limitation, all lawn, landscaping and planting areas, in a first class manner and state and condition of appearance and repair, the costs for which shall be borne solely by the Association and/or Landlord (and not Tenant). The Association hereby reserves, and shall at all times hereafter have, the right, in its sole and absolute discretion, to delegate the management of the Weston Town Center Common Property to a third party of its choice.  In no event shall use of the Weston Town Center Common Property be conditioned upon payment of parking charges.  Landlord shall make, at the sole cost and expense of Landlord, all repairs, alterations or other improvements in and to the Premises and the Building and any Weston Town Center Common Property which are required by governmental authority of Weston Town Center in general or of all similar centers in Broward County, Florida.

 

7.4.            Employee Parking.  Notwithstanding anything contained to the contrary herein, or in the Shared Parking Declaration and/or The Town Center Rules and Regulations attached hereto as Exhibit D, during the Term of this Lease, Tenant, its employees, guests and invitees, of the Building, shall be entitled to utilize those parking spaces located on the Weston Town Center Common Property, except that employees may not park on Main Street.

 

 

7.5.            Golf Cart.  Notwithstanding anything to the contrary contained in this Lease, Landlord and the Common Area Owner acknowledge and agree that at all times during the Term of this Lease, Tenant shall not be prohibited from using, driving or parking golf cart(s)  at  the Building and on The Weston Town Center Common Property, subject at all times, however, to all applicable governmental approvals that may be required from time-to-time of any city, county or state agency having jurisdiction over same,  if required, and for which Tenant shall obtain at its sole cost and expense.

 

  

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8.  

	
SIGNS.

Landlord agrees that Tenant shall, at Landlord’s expense, be permitted to place its name on the Tenant directory for the Building. Tenant also shall, at Tenant’s expense, have the right to install an oversized logo sign (“Sign”) on the exterior of the Premises (similar in size to the existing EWM Realty exterior Building sign), provided, however, that any Sign, and the number, size, color, arrangement, placement and location of the same upon the Building shall be subject at all times to all applicable government laws, ordinances and regulations. Tenant shall have the right, at its expense and in compliance with applicable law, to erect, maintain, place and install its usual and customary signs and fixtures in the interior of the Premises.  Except as otherwise provided in this Section 8, Tenant shall not be allowed to display signage on the Building or any windows of the Premises.  Tenant agrees that, except as otherwise provided in this Section 8, it shall not place or suffer to be placed or maintained upon any exterior wall, roof, door or window of the Premises or upon any portion of the interior of the Premises which is prominently visible from the exterior thereof, any sign or other advertising or promotional materials or media whatsoever without the prior written consent and approval of all applicable government authorities, the Landlord and the Association, which consent and approval Landlord and the Association may withhold in its reasonable discretion.  In no event shall Tenant install a sign on any façade or elevation of the Building that has an existing sign advertising Esslinger Wooten Maxwell Realtors, EWM Realtors or any other trade name of EWM Realtors.

	
9.  

	
UTLITIES & TRASH REMOVAL; LANDLORD’S ADDITIONAL SERVICES.

 

9.1.            Utilities.  The Tenant shall be solely responsible for and shall promptly pay all charges for public utilities and/or private services rendered or furnished to the premises during the Term hereof,  including, but not limited to, heat, gas and electricity, together with all taxes or other charges based upon the use of such utilities. Landlord shall be solely responsible for the performance of any and all repairs to all utility lines, pipes and other facilities serving the Building, unless such repair was necessitated by the gross negligence or willful misconduct of Tenant or anyone acting by, through or under Tenant. Tenant shall be solely responsible for the performance of any and all repairs to all utility lines, pipes and other facilities that exclusively serve the Premises, unless such repair was necessitated by the negligence or misconduct of Landlord or anyone acting by, through or under Landlord.  Landlord shall not be liable to Tenant for any interruption of utility services to the Premises caused by events beyond Landlord’s reasonable control; provided, however, that Landlord shall be obligated to use reasonable commercial efforts to obtain the resumption of such utility services as quickly as is reasonably possible (unless such interruption of service was caused by the gross negligence or willful misconduct of Tenant or anyone acting by, through or under Tenant).  Except as otherwise expressly provided herein, Landlord shall in no event be liable for the quality, quantity or interference of such services.  Tenant shall and hereby agrees to make all appropriate applications and arrangements for utility services required to serve the Premises directly with those utility companies and authorities providing such utilities to the Building. Tenant shall pay all fees, charges and deposits required by such utility companies and authorities as a condition to their providing such utility services to the Premises, excluding any impact, “tap-in”, or “hook-up” fees which shall be the sole responsibility of Landlord.  If additional or special utility services or wiring are required for the conduct of Permitted Use within and from the Premises, Tenant shall be responsible for their installation at its sole cost and expense.

 

 

9.2.            Trash Removal.  Landlord, directly or through the Association, shall remove trash and rubbish generated by Tenant in the ordinary course of the operation of Tenant's business in the Premises, provided that such trash and rubbish is placed by Tenant either in designated containers or dumpsters provided by Landlord or, at Tenant’s option, in containers provided by Tenant and stored in locations designated by Landlord.  The cost for removal of the trash and rubbish shall be borne solely by Landlord, and Tenant shall have no liability or obligation therefor.

 

 

9.3.            Landlord’s Additional Services. In addition to the foregoing, Landlord shall furnish the following services to Tenant at no additional cost or charge: (a) hot and cold water for use in lavatories in common with other tenants of the Building; (c) customary cleaning and janitorial services in the Building lavatories on weekdays (excluding national holidays); (d) twenty-four (24) hour working elevator service to the second floor of the Building; (e) twenty-four (24) hour access to the Premises; and (f) washing of the outside windows in the Premises at intervals reasonably determined by Landlord but not less than once per calendar year.

 

  

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10.  

	
MAINTENANCE & REPAIRS.

 

10.1.            Tenant’s Obligations.  Except for those portions of the Premises which shall be maintained, repaired and replaced by the Landlord as provided in Section 10.2 and elsewhere in this Lease, Tenant shall, at all times during the Term of this Lease, at its sole cost and expense, keep, clean, maintain, repair and replace all interior, non-structural portions of the Premises, including, without limitation, all exterior and interior windows (including, without limitation, plate glass windows), doors and entrances, floor coverings, and all exterior and interior signs and all interior walls, partitions, fixtures, equipment, systems and other appurtenances, including, without limitation, all electrical and lighting systems and fixtures, all plumbing systems and fixtures, those HVAC Systems in or serving only the Premises (on which Tenant shall maintain a service and maintenance contract for regular service inspection, and emergency and extraordinary repair of the air conditioning unit(s) on the Premises), in good, clean, sanitary and safe order, condition and repair, ordinary wear and tear excepted. In furtherance thereof, Tenant shall make all necessary and desirable repairs and replacements to the Premises, ordinary and extraordinary, however the necessity or desirability for repairs and replacements shall occur, and shall use all reasonable precautions to prevent waste, damage or injury to the Premises, except for any repairs or replacements that are necessitated by the negligence or misconduct of Landlord or anyone claiming by, through or under Landlord.  In connection with any maintenance, repairs or replacements conducted by, through or under Tenant, Tenant shall comply with all applicable federal, state, county and local laws and ordinances (including, without limitation, the ADA), and all rules and regulations of any governmental authority having jurisdiction over the Premises.

 

 

10.2.            Landlord’s Obligations.  Landlord shall keep, maintain, repair and replace the exterior of the Premises, all structural elements of the Premises and Building (whether interior or exterior and including, without limitation, the foundations, supporting columns, load bearing walls, floors and floor slab and the roof structure), elevators, HVAC systems, or portions thereof, serving the Building or which serve more than the Premises, the fire sprinkler system, whether located in the Premises or otherwise in the Building, and lobbies of the Building, all plumbing, electrical and other utility system components of the Building, Building Common Areas, and Weston Town Center Common Property (other than those that exclusively service the Premises or within the Premises and which are maintained and repaired by Tenant),  in good, clean, sanitary and safe order, condition and repair, ordinary wear and tear excepted, and shall have the right of entry onto the Premises at reasonable times upon reasonable advance notice to Tenant for the purpose of performing same (except in the event of an emergency, as to which no notice shall be required; as used in this Lease, the term “emergency” shall mean a situation which requires, in the good faith judgment of the acting party, immediate action in order to prevent death, bodily injury or property damage).   Landlord shall have no obligation to repair until receipt by Landlord of written notice of the need for repairs. In connection with any maintenance, repairs or replacements conducted by, through or under Landlord, Landlord shall comply with all applicable federal, state, county and local laws and ordinances (including, without limitation, the ADA), and all rules and regulations of any governmental authority having jurisdiction over the Premises.

 

 

10.3.            Right of Entry. Landlord and its agents and employees shall have the right to enter the Premises at reasonable hours and, except in cases of emergency, upon reasonable advance notice to Tenant (which notice, notwithstanding any other provision of this Lease, may be given orally) to make inspections, show the Premises to prospective tenants (but only during the last six months of the Term), purchasers, lenders or others, or to make alterations or repairs to the Building or the Premises for which it is responsible or which it is entitled to make hereunder, provided that Landlord shall use all reasonable efforts not to disturb Tenant's use and occupancy of the Premises and business operations.  Tenant shall be entitled at its own option to have an agent present during any such entry.  In the event of emergency or in order to comply with all laws, orders, ordinances and requirements of any governmental unit or authority (regarding which compliance is the responsibility of Landlord), Landlord and its agents and employees shall have the right of entry at any time and may perform any acts related to safety, protection, preservation or improvement of the Building or the Premises or required by such governmental unit or authority.  Except as otherwise expressly provided in this Lease, Tenant shall not be entitled to any abatement or reduction of rent because of work performed within the Building or Premises by Landlord (provided such work is performed in a manner so as to minimize interference with the conduct of Tenant's business within the Premises).

 

	
11.  

	
ALTERATIONS.

 

11.1.            Alterations.  Except as otherwise required herein or as otherwise set forth herein as Tenant’s Work, Tenant shall not make any alterations, additions or improvements to the exterior or structural portions of the Premises (including, without limitation, the roof) (herein referred to collectively as "Alteration") without the prior written consent of Landlord and the Association (to the extent it has jurisdiction), which consent Landlord and the Association shall not unreasonably withhold.  Tenant may install in the interior of the Premises without the consent of Landlord, unattached, movable trade fixtures and furniture which may be installed without drilling, cutting or otherwise defacing the Premises including but not limited to partitions, cubicles, and other items which are not fixtures (herein referred to as "Removable Trade Fixtures"). Other than for Tenant’s Work, Tenant shall submit to Landlord for its review and approval, complete plans and specifications for any proposed Alteration at the time approval is sought, and if necessary, resubmit the same from time to time, within fifteen (15) days after receipt of written notice of disapproval thereof from Landlord or the Association, until the same are approved by Landlord and the Association if applicable. In the event the Association or Landlord fails to grant its approval (or disapproval) of Tenant’s plans and specifications within ten (10) days of Tenant’s submission (and/or resubmission) of the same, then Landlord and/or the Association, as the case may be, shall be deemed to have approved the same.  In connection with any Alteration of the Premises by Tenant, Tenant shall comply with all applicable federal, state, county and local laws and ordinances (including, without limitation, the ADA), and all rules and regulations of any governmental authority having jurisdiction over the Premises.

 

 

  

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11.2.            Insurance by Tenant’s Contractor.  Prior to Tenant commencing any improvements or Alterations to the Premises, Tenant shall deposit with Landlord a liability insurance certificate from Tenant's general contractor, or if none, from each of Tenant's independent contractors in an amount not less than $1,000,000 per occurrence or such amount as Landlord acting reasonably may require from time to time, with Landlord added as additional insured, which liability insurance shall be on a comprehensive form and shall cover all hazards related to any work performed by any such contractor on the Premises.

 

 

11.3.            Damage & Waste.  Any damage to the Premises or the Building caused by Tenant or any of its employees, contractors, or workmen shall be repaired by and at the expense of Tenant.  Tenant shall be responsible for the disposal of waste generated with respect to Tenant's improvements or Alterations.

 

 

11.4.            Contractor’s Affidavit.  On completion of Tenant's improvements or Alterations, Tenant shall cause to be furnished to Landlord a Contractor's Affidavit stating that there are no liens outstanding against the Premises on account of Tenant's improvements and that all accounts for work, service and materials have been paid in full.

 

 

 

11.5.            Ownership of Fixtures.  All Alterations made and all fixtures installed in or to the Premises (except Removable Trade Fixtures), including, without limitation, heating and air conditioning equipment, lighting fixtures, store front, ceiling, wall treatment, floor covering, plumbing and electrical systems and fixtures shall become the property of Landlord upon the termination of this Lease, without any compensation therefor to Tenant, and shall not be removed by Tenant at or before the expiration or earlier termination of this Lease, unless Landlord shall give notice to Tenant to remove any or all of the same, in which event Tenant shall remove such of said Alterations and Fixtures as may be specified by Landlord in Landlord's notice to Tenant and Tenant shall repair all damage caused by such removal and restore the Premises to their original order and condition, normal wear and tear excepted.

 

 

11.6.            Ownership of Removable Trade Fixtures.  All Removable Trade Fixtures installed in the Premises by Tenant shall remain the property of Tenant and shall be removed by Tenant upon the expiration or earlier termination of this Lease; provided that Tenant shall not at such time be in default hereunder beyond any applicable notice and cure periods and provided further that Tenant shall repair all damage caused by such removal and restore the Premises to its original order and condition. Any Removable Trade Fixtures not removed by Tenant upon the expiration or earlier termination of this Lease (including, without limitation, a termination of this Lease by Landlord) shall be and become the property of Landlord without any obligation on the part of Landlord to pay compensation therefor to Tenant, unless Landlord shall give notice to Tenant to remove any or all of the same, in which event Tenant shall remove such of said Removable Trade Fixtures as may be specified in Landlord's notice to Tenant.  The provisions of this Section 11.6 shall survive the expiration or earlier termination of this Lease.

 

 

11.7.            Failure to Remove Alterations or Fixtures.  Should Tenant fail to remove any Alterations, fixtures or Removable Trade Fixtures, and/or fail to restore the Premises as required under this Section 11.7, Landlord may do so, in which event Tenant shall pay to Landlord the cost and expense thereby incurred as Additional Rent, plus interest thereon, which sums shall be payable within thirty (30) days of Tenant’s receipt of Landlord’s demand therefor.

 

  

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12.  

	
INSURANCE, WAIVER & INDEMNITY.

 

12.1.            Tenant’s Insurance.  Tenant shall procure, provide and pay for, and shall maintain throughout the Term (including any renewals or extensions thereof) of this Lease, the following insurance coverage, with the following limits, in the name of the Tenant and with Landlord, the Association and Common Area Owner named therein as an additional insured:

 

 

12.1.1. Property Damage Insurance.  Tenant shall provide and keep in full force and effect Special Form Insurance (subject to commercially reasonable deductibles) in an amount adequate to cover the replacement cost of all Tenant improvements to the Premises, Tenant Alterations, Tenant's trade fixtures, inventory and other contents located in the Premises from time to time together with endorsements to cover loss occasioned by fire, windstorm, vandalism, malicious mischief, sprinkler leakage and other hazards and/or casualties including special extended coverage and said insurance shall include coverage against water damage to the contents of the Premises and personal property of Tenant.

 

 

12.1.2. Liability Insurance.  Tenant shall provide and keep in full force and effect a policy or policies of comprehensive commercial general liability insurance (including contractual) providing coverage against claims and/or liability for personal injury, death and property damage having a combined single limit of not less than ONE MILLION DOLLARS ($1,000,000.00) with respect to injuries, deaths or damage to property in any one occurrence.  Landlord reserves the right, upon at least thirty (30) days’ prior written notice to Tenant, to specify higher liability limits or additional insurance coverage from time to time to meet reasonably anticipated loss exposure, or to reflect changes in the value of the Premises.

 

 

12.1.3. Workers' Compensation Insurance. Tenant shall provide and keep in full force and effect workers' compensation insurance, in a form and with coverage limits not less than as prescribed by the laws of the State of Florida, and employers' liability insurance in an amount equal to the greater of One Million Dollars ($1,000,000.00) or the minimum amount required by law.

 

 

12.1.4. Builder's Risk Insurance. Tenant shall, prior to the commencement of and during the construction of alterations or improvements at or on the Premises, and as often a Tenant may construct, replace, reconstruct, restore or make a substantial alteration to, any improvement thereon, provide and keep in full force and effect builders' risk insurance for the full replacement cost of such work.

 

 

12.2.            Carriers and Features.

 

 

12.2.1. All such insurance shall be written on a company or companies authorized to engage in the business of casualty and general liability insurance in the State of Florida, and there shall be delivered, by the Tenant, to the Landlord customary certificates evidencing such paid-up insurance, and certifying Landlord, the Association and the Common Area Owner as additional insureds, which certificates are to be issued by the insurance companies and delivered to Landlord on a yearly basis during the Term of this Lease.

 

12.2.2. The policies of insurance provided herein are to be provided by the Tenant, and shall be for a period of not less than one (1) year, it being understood and agreed that prior to the expiration of any policy of insurance, the Tenant will deliver to the Landlord a binder or a renewal or new policy to take the place of the expiring policy, with the understanding that, should the Tenant fail to furnish policies, as is provided in this Lease, and at the times herein provided, the Landlord may obtain such insurance, and the premiums on such insurance shall be deemed Additional Rental to be paid by the Tenant to the Landlord within thirty (30) days of Landlord’s written demand.

 

  

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12.3.            Waiver.  Neither Landlord nor Tenant shall make any claim for recovery against the other party, and each expressly waives any right of recovery against the other party for damage to or loss of the Premises, improvements thereon, the contents thereof, equipment, merchandise, inventory, furniture, furnishings or fixtures, which damage or loss may arise by fire or any other peril covered by any policy of insurance containing a waiver of subrogation right against the other party in said policy when said loss is caused by or results from any acts of carelessness or negligence of the other party, its officers, employees or other persons under its control. Each party agrees that, if any property shall be stolen, damaged or destroyed by an insured peril, such party shall not have any liability to the other party, nor to any insurer of the other party, for or in respect of such theft, damage or destruction, and each party shall require all policies of risk insurance carried by it to contain or be endorsed with a provision in and by which the insurer designated therein shall waive its right of subrogation against the other party.

 

 

12.4.            Tenant’s Indemnity.  Tenant shall indemnify and hold harmless Landlord from all loss, claim, demand, damage, liability, or expense, including reasonable attorneys' fees and costs, resulting from any injury to or death of any person or any loss of or damage to any property caused by or resulting from any act, omission, or negligence of Tenant or any officer, employee, agent, contractor or licensee of Tenant in or about the Premises or the Building.  The foregoing provision shall not be construed to make Tenant responsible for loss, damage, liability or expense resulting from injuries to third parties caused by any act, omission or negligence of Landlord or any member, officer, director, employee, agent contractor of Landlord.

 

 

12.5.            Landlord’s and Common Area Owner’s Insurance. During the Term of this Lease, Landlord (with respect to the Building and the Premises) and the Common Area Owner, directly or through the Association (with respect to the Weston Town Center Common Property), shall maintain with responsible companies qualified to do business in the State of Florida, at no cost or expense to Tenant, a policy of fire, windstorm and extended coverage insurance in an amount adequate to cover the replacement cost (subject to commercially reasonable deductibles) of the Building, the Premises (other than leasehold improvements constructed by or on behalf of Tenant, any Tenant Alterations, trade fixtures, inventory and other contents located in the Premises from time to time) and the Weston Town Center Common Property, covering loss occasioned by fire, windstorm, flood, vandalism, malicious mischief, sprinkler leakage and other hazards and/or casualties including special extended coverage.  All such insurance shall be written on a company or companies authorized to engage in the business of casualty and general liability insurance in the State of Florida, and Landlord and the Common Area Owner each shall deliver to Tenant customary certificates evidencing such paid-up insurance, which certificates are to be issued by the insurance companies and delivered to Tenant on a yearly basis during the Term of this Lease. The policies of insurance provided herein shall be for a period of not less than one (1) year, it being understood and agreed that fifteen (15) days prior to the expiration of any policy of insurance, Landlord and the Common Area Owner will deliver to Tenant customary certificates evidencing such paid-up insurance.

 

 

12.6.            Landlord’s Indemnity. Landlord shall indemnify, defend and hold Tenant harmless from and against all loss, claim, demand, damage, liability or expense, including reasonable attorneys' fees and costs, resulting from any injury to or death of any person or any loss of or damage to any property caused by or resulting from any act, omission or negligence of Landlord or any officer, employee, agent, contractor or licensee of Landlord in or about the Premises, the Building or the Weston Town Center Common Property.  The foregoing provision shall not be construed to make Landlord responsible for loss, damage, liability or expense resulting from injuries to third parties caused by any act, omission or negligence of Tenant or of any officer, employee, agent contractor, invitee or visitor of Tenant.

 

	
13.  

	
DAMAGE OR DESTRUCTION.

 

13.1.            Landlord’s Duty to Repair and Restore.  If all or a substantial part of the Premises is rendered untenantable or inaccessible by damage to all or any part of the Premises or Building from fire, windstorm, flood, the elements, accident, or other casualty (collectively “Casualty”) then, unless Landlord or Tenant is entitled, and elects, to terminate this Lease pursuant to Section 13 hereof, Landlord shall, at its expense, use reasonable commercial efforts to promptly repair and restore the Premises and/or the Building, as the case may be, to substantially their former condition to the extent permitted by then applicable zoning, building or other laws then in existence; provided, however, that in no event shall Landlord have any obligation to repair or restore any of Tenant’s trade fixtures, personal property, equipment, inventory, or any Alterations to the Premises whether made by Tenant or Landlord.

 

 

13.2.            Rent Abatement.  If Landlord is required to repair damage to the Premises and/or the Building, and this Lease is not terminated pursuant to Section 13 hereof, this Lease shall continue in full force and effect but Tenant’s Base Rent from the date of the Casualty through the date of substantial completion of the repair shall be abated with regard to any portion of the Premises that Tenant is prevented from using by reason of such damage or its repair.  Notwithstanding anything contained in this Lease to the contrary, no provision hereof shall operate to extend or otherwise alter the Term of this Lease.

 

  

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13.3.            Landlord’s Right to Terminate.  Landlord may elect to terminate this Lease under the following circumstances by providing written notice to Tenant within 90 days following damage caused by such Casualty: (i) if, in Landlord’s sole judgment, the Premises and/or the Building cannot be substantially repaired and restored under the then applicable building, zoning, or other laws within 8 months from the date of the Casualty; (ii) if 50% or more of the Premises is damaged or destroyed (including, without limitation, by smoke or water damage); (iii) if 50% or more of the Building is damaged or destroyed (including, without limitation, by smoke or water damage), regardless of whether the Premises are damaged or destroyed; (iv) if the Casualty occurs during the last 12 months of the Term (provided, however, that, if Landlord shall exercise said right of termination and at that time Tenant shall have the right to extend the Lease Term, Tenant may render Landlord’s notice of termination null, provided that Tenant, within fifteen (15) days of receipt of the notice, shall elect to extend the term of this Lease); (v) Tenant is in material default of the Lease,; or (vi) Tenant has vacated or abandoned the Premises.

 

 

13.4.            Tenant’s Right to Terminate.  In the event that Landlord does not elect to terminate this Lease pursuant to Section 13.3 hereof, Landlord shall deliver to Tenant a written determination of an engineering or architectural firm selected by Landlord stating the estimated time for substantial completion of the restoration of the damaged portion of the Premises or that part of the Building that will render the Premises accessible, which determination shall be sent to Tenant no later than thirty (30) days after the date of the Casualty.  The date that such engineering or architectural firm so concludes that substantial completion can be accomplished is hereinafter called the “Estimated Completion Date”.  Tenant may elect to terminate this Lease under the following circumstances: (i) if the Casualty occurs during the last 24 months of the Term and if the Estimated Completion Date is more than one hundred fifty (150) days after the date of the engineering or architectural firm’s report of substantial completion, and provided that Tenant’s written notice of termination is received by Landlord no more than ten (10) days after Tenant’s receipt of the engineering or architectural firm’s written determination of substantial completion;   (ii) if Landlord shall not commence, in good faith, repair and restoration work within ninety  (90) days after the Casualty, provided, however, Tenant’s termination notice shall be deemed null, void and of no force or effect in the event Landlord commences, in good faith, the repair and restoration work prior to expiration of the aforesaid thirty (30) day period and provides written notice thereof to Tenant; or (iii) if Landlord shall fail with all due diligence to continue with such repair and restoration work to completion within 8-months after the date of the Casualty), then Tenant shall have the right in addition to all other rights and remedies available at law, in equity, or under this Lease, to terminate this Lease by giving 30-days prior written notice of its election so to do to Landlord, provided, however, Tenant’s termination notice shall be deemed null, void and of no force or effect in the event Landlord substantially completes such restoration at any time prior to the expiration of the aforesaid thirty (30) day period and provides written notice thereof to Tenant.

 

 

13.5.            Tenant's Obligation to Repair and Restore.  Tenant, at its sole cost and expense, shall be responsible for the repair, replacement and reconstruction of any Tenant leasehold improvements, Tenant’s Alterations, and Tenant’s Removable Trade Fixtures. Tenant shall commence the performance of the foregoing repair, replacement and reconstruction promptly upon delivery to it of possession of Premises with the Restoration Work completed, and shall diligently prosecute the same to completion promptly thereafter, all such work by Tenant to be completed within a reasonable period of time not to exceed two hundred forty (240) days following the date on which possession of the Premises shall be redelivered to Tenant by Landlord.  Landlord shall in no event be required to expend any of its own funds in connection with Tenant’s reconstruction work.

 

 

13.6.            Waiver by Tenant.   In no event shall Landlord be liable to Tenant and Tenant hereby waives any and all right of recovery which it might otherwise have against the Landlord, Common Area Owner, and the Association, and their respective agents, directors, officers, partners, members, attorneys, employees, successor and assigns, for any loss or damages whatsoever by reason of any injury to or interference with Tenant’s business or property, loss of use of the Premises, any damage or loss not covered by Tenant’s insurance (including insurance deductibles and insurance that Tenant is required to maintain under Section 12 above), damage or loss to Tenant’s personal property, merchandise, inventory, furniture, furnishings, fixtures, trade fixtures, Alterations, intellectual property, or any other property, or any inconvenience occasioned by or arising from any such Casualty and the repair and/or restoration thereof to the Premises and/or the Building, unless such damage or loss is the result of the negligence or misconduct of Landlord, the Common Area Owner, and/or the Association, or any of their respective agents, directors, officers, partners, members, or employees.

 

  

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14.  

	
ASSIGNMENT, TRANSFER & SUBLETTING.

Except as otherwise expressly provided in this Section 14, Tenant shall not assign the Lease nor sublet the Premises or any portion thereof without the prior written permission and consent of Landlord which approval or disapproval shall not be unreasonably withheld, delayed or conditioned.  Any consent by Landlord once shall not constitute a waiver of the requirement for its consent to any future subletting or assignment of this Lease. If this Lease or any interest of Tenant herein is assigned or encumbered or if the whole or any part of the Premises is sublet after having obtained Landlord's prior written consent thereto or as a Permitted Transaction (as defined below), Tenant shall nevertheless remain liable for the full performance of all obligations required to be performed by Tenant under this Lease and Tenant will require any assignee to execute and deliver to Landlord an assumption of liability agreement in form satisfactory to Landlord including, without limitation, an assumption by assignee of all of the obligations of Tenant and the assignee's ratification of and agreement to be bound by all of the provisions of this Lease. The acceptance of rent from any other person shall not be deemed to be a waiver of any of the provisions of this Lease or consent to the assignment or subletting: of the Premises.

In the event Tenant shall desire to assign the Lease or sublet the Premises, in whole or in part, Tenant shall give Landlord not less than thirty (30) days prior written notice. Such notice shall set forth all pertinent business terms of the proposed assignment or subletting, as the case may be, as well as, the name and address of the proposed assignee or subtenant, information as to the financial condition of the proposed assignee or subtenant and proposed use which assignee or subtenant desires to make of the Premises. Such notice shall bear the signature of the proposed assignee or subtenant attesting to its accuracy. Tenant shall in addition, at Landlord’s request, furnish such other information as Landlord may reasonably request concerning such proposed assignment or subletting. Tenant shall reimburse Landlord for Landlord’s reasonable costs of obtaining mortgagee approval of such request, and Landlord’s reasonable legal fees and costs, and all other reasonable out-of-pocket costs incurred by Landlord (currently not less than $850 or such greater amount as may be reasonable under the circumstances, relative to document review and/or preparation in connection with the proposed transaction, but in no event greater than $2,550).

Notwithstanding the above, Tenant may, without the approval of Landlord, assign the Lease, or any part thereof, or sublease the Premises, in whole or in part, to: (a) any corporation which has the power to direct Tenant’s management and operation, or any corporation whose management and operation is controlled by Tenant; or (b) any corporation a majority of whose voting stock is owned by Tenant; or (c) any corporation in which or with which Tenant, its corporate successors or assigns, is merged or consolidated, in accordance with applicable statutory provisions for merger or consolidation of corporations, so long as the liabilities of the corporations participating in such merger or consolidation are assumed by the corporation surviving such merger or created by such consolidation; or (d) any corporation acquiring this Lease and a substantial portion of Tenant’s assets; or (e) any corporate successor to a successor corporation becoming such by either of the methods described in subsections (c) or (d).  Each of the foregoing is referred to hereinafter as a “Permitted Transaction”.

 

Prior to effecting a “Change of Control” (as defined herein), Tenant shall give Landlord at least fifteen (15) days prior written notice of such Change of Control and the same shall be considered an assignment of this Lease and unless otherwise exempt in accordance with the provisions of the following sentence, Landlord's consent thereto shall be required.  Notwithstanding the foregoing, any "Change of Control" occurring during the term of this Lease shall not be restricted in any manner and shall not require the Landlord's consent:  (a) if such transaction would have been a Permitted Transaction (not requiring the Landlord's consent) had the same been effected by an assignment or sublease instrument alone rather than involving a stock transfer; (b) if the Tenant, the transferor or the transferee is a corporation, all or any portion of whose shares are traded and listed on a stock exchange (including the over-the-counter market) (a "public company"); (c) if the transaction is one by which Tenant becomes or ceases to be a public company; or (d) where the individuals or entities owning a controlling interest of the Tenant or of the Tenant's parent company or partnership entity immediately prior to the transaction in question continue to retain voting control of the Tenant, either directly or through control of the Tenant's parent company or partnership entity, after the transaction in question.

  

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15.  

	
LANDLORD'S AND ASSOCIATION’S INTERESTS NOT SUBJECT TO LIENS.

 

15.1.            Liens, Generally.  Tenant shall not create or cause to be imposed, claimed or filed upon the Premises, the Building, or any other portion of Weston Town Center, or upon the interest of Landlord or the Association therein, any lien, charge or encumbrance whatsoever. If, because of any act or omission of Tenant, any such lien, charge or encumbrance shall be imposed, claimed or filed, Tenant shall, at its sole cost and expense, cause the same to be fully paid and satisfied or otherwise discharged of record by bonding or otherwise, and Tenant shall indemnify, defend, save and hold Landlord harmless from and against, and reimburse Landlord for, any and all obligations, damages, injunctions, suits, fines, penalties, demands, claims, costs, expenses, actions, liabilities, suits, proceedings and losses of whatever nature (including, without limitation, attorneys' fees and court costs), resulting or on account thereof and therefrom. In the event that Tenant shall fail to comply with the foregoing provisions of this Section 15, Landlord shall, in addition to Landlord's other rights and remedies, have the option of paying, satisfying or otherwise discharging (by bonding or otherwise) such lien, charge or encumbrance and Tenant agrees to reimburse Landlord, upon demand and as Additional Rent, for all sums so paid and for all costs and expenses incurred by Landlord in connection therewith, together with interest thereon, until paid.

 

 

15.2.            Construction Liens.  Landlord's interest in the Premises shall not be subjected to liens of any nature by reason of Tenant's construction, alteration, repair, restoration, replacement or reconstruction of any improvements on or in the Premises, including, without limitation, those arising by reason of any other act or omission of Tenant (or of any person claiming by, through or under Tenant). All persons dealing with Tenant are hereby placed on notice that such persons shall not look to Landlord or to Landlord's credit or assets (including, without limitation, Landlord's interest in the Premises or in Weston Town Center) for payment or satisfaction of any obligations incurred in connection with the construction, alteration, repair, restoration, replacement or reconstruction thereof by, through or under Tenant. Tenant has no power, right or authority to subject Landlord's or the Association’s interest in the Premises, the Building or any other portion of Weston Town Center, to any lien or claim of lien. If a lien, a claim of lien or an order for the payment of money shall be imposed against the Premises or any improvements thereon, therein or thereto, on account of work performed, or alleged to have been performed, for or on behalf of Tenant, Tenant shall, within thirty (30) days after written notice of the imposition of such lien, claim or order, cause the Premises and such improvements to be released therefrom by the payment of the obligation secured thereby or by furnishing a bond or by any other method prescribed or permitted by law. If a lien is released, Tenant shall thereupon furnish Landlord with a written instrument of release in form for recording in the office of the Clerk of the Circuit Court, Broward County, Florida, and otherwise sufficient to establish the release as a matter of record.

 

	
16.  

	
EMINENT DOMAIN.

In the event the Premises, the Building or any part thereof shall be taken or condemned for public purposes by any competent authority, except as otherwise provided herein, the entire compensation awarded therefor shall belong to the Landlord, without any deduction therefrom for any present or future estate of Tenant; provided; however, that in the event more than twenty (20%) percent of the Premises shall be so taken or condemned, then either the Landlord or Tenant shall have the option of terminating the Lease upon giving to the other written notice of such election within thirty (30) days after possession of the part condemned has been taken by proper authorities, whereupon the Term of this Lease shall be terminated as of the date on which possession is so taken. If neither Landlord nor Tenant so elects to terminate the Lease, then Landlord at its own expense shall repair and restore the Premises not affected by the taking to its former condition as the circumstances will permit so that the remaining premises constitute a complete architectural unit.  If the award is insufficient to pay for the restoration, Landlord shall be responsible for the remaining cost and expense of such restoration, provided, however, that Landlord shall in no event be required to expend any of its own funds for repairs or alterations which constitute Tenant’s Alterations, Tenant’s Removable Trade Fixtures, and Tenant’s fixtures.  During any period of time that, by reason of such taking or condemnation, there is any material interference with access to the Premises, there shall be a fair and equitable abatement of the rent payable hereunder, taking into account the extent to which Tenant’s operations may thereby be interfered with. Tenant shall have the right to make any claims allowed by the laws of the State of Florida against the condemning authority for the following: (a) the value or cost of its fixtures, equipment and other personalty; (b) its relocation expenses; and (c) the cost of any leasehold improvements made by Tenant in and to the Premises less the amount of the Tenant Improvement Allowance.  Notwithstanding anything to the contrary set forth in this Section 16, in the event only one award is given, then Tenant shall have the right to share in such award relative to the aforesaid claims.

  

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17.  

	
SUBORDINATION & ATTORNMENT.

 

17.1.            Subordination. Subject to the provisions of this Section 17.1, this Lease, Tenant's interest hereunder and Tenant's leasehold interest in and to the Premises, are hereby agreed by Tenant to be and are hereby made junior, inferior, subordinate and subject in right, title, interest, lien, encumbrance, priority, and all other respects, to any mortgage or mortgages placed on the property of which the Premises are a part, without the necessity of the execution of any further instrument or agreement of subordination on the part of Tenant. On or prior to the Commencement Date of the Lease, Landlord covenants to use its best efforts to obtain from each lender the security for whose loan encumbers the Premises or the Building as of the Execution Date, an executed nondisturbance agreement assuring Tenant that, notwithstanding any default by Landlord to the lender or any foreclosure or deed in lieu thereof, Tenant’ s rights under this Lease shall continue in full force and effect and its possession of the Premises shall remain undisturbed (including, without limitation, permission for insurance proceeds and eminent domain awards to be applied as required hereunder), except in accordance with the provisions of this Lease, so long as Tenant is not in default hereunder so as to permit Lease termination.  The form and content of such agreement(s) shall be reasonably acceptable to Tenant.  In no event shall such non-disturbance agreement be a condition of this Lease.  Additionally, Tenant shall, upon Landlord’s request, subordinate this Lease in the future to any first lien placed by Landlord upon the Premises or the Building with an institutional first mortgagee, provided that such lender executes a nondisturbance agreement substantially similar in form and content to that which is required in the first sentence of this paragraph.  Tenant will, upon request of the lienholder, be a party to such an agreement, and will agree that, if such lienholder succeeds to the interest of Landlord, Tenant will recognize said lienholder (or successor in interest of the lienholder) as its landlord under the terms of this Lease.

 

 

17.2.            Attornment.  Tenant shall and hereby agrees to attorn, and be bound under all of the terms, provisions, covenants and conditions of this Lease, to any successor of the interest of Landlord under this Lease for the balance of the Term of this Lease remaining at the time of the succession of such interest to such successor. In particular, in the event that any proceedings are brought for the foreclosure of any mortgage encumbering any or all, or a combination of, the Premises or the Building, Tenant shall attorn to the purchaser at any such foreclosure sale and recognize such purchaser as Landlord under this Lease, subject, however, to the provisions of Section 17.1 and all of the other terms and conditions of this Lease.  Tenant agrees that neither the purchaser at any such foreclosure sale nor the foreclosing mortgagee shall have any liability for any act or omission of Landlord, be subject to any offsets or defenses which Tenant may have as claim against Landlord or be bound by any advance rents which may have been paid by Tenant to Landlord for more than the current period in which such rents come due.

 

	
18.  

	
END OF TERM.

 

18.1.            Surrender of Premises. Tenant shall, on the last day of the Term of this Lease or upon the sooner termination thereof, peaceably and quietly surrender and deliver the Premises to Landlord "broom clean" in good order, condition and repair, reasonable wear and tear and damage by fire or other casualty excepted, and free and clear of liens and encumbrances.  Tenant shall remove Tenant’s Removable Trade Fixtures, Tenant's goods, effects, personal property, business and trade fixtures, machinery and equipment, and those of any persons claiming under Tenant (collectively, "Tenant's Property").  Landlord may remove any of Tenant's Property not removed at the expiration or other termination of this Lease without any liability whatsoever to Tenant. Tenant shall promptly reimburse Landlord upon demand for any expense incurred by Landlord in connection with such removal.

 

 

18.2.            Title to Leasehold Improvements. Upon surrender, or upon the expiration of the Term or sooner termination of this Lease, whichever shall first occur, all improvements, installations, fixtures (except Removable Trade Fixtures and Tenant’s Property), alterations and additions, whether originally constructed installed, delivered or placed in the Premises by Landlord or Tenant, shall remain in the Premises as part thereof and as the property of Landlord, and title thereto shall thereupon, and without further act of either party, vest in Landlord.  However, if requested by Landlord, Tenant shall promptly thereafter execute and deliver to Landlord such deed or bill of sale as Landlord may reasonably require, provided that no covenant, warranty or representation of Tenant shall be contained therein.

 

 

18.3.            Holding Over.  If Tenant or any other person or party shall remain in possession of the Premises or any part thereof following the expiration of the Term or earlier termination of this Lease without an agreement in writing between Landlord and Tenant with respect thereto, at the option of Landlord, in addition to any and all other rights and remedies of Landlord, the person or party remaining in possession shall be deemed to be a tenant at sufferance, and during any such holdover, the rents payable under this Lease by such tenant at sufferance shall be one hundred and fifty percent (150%) of the rate or rates in effect immediately prior to the expiration of the Term or earlier termination of this Lease. In addition, Tenant agrees to pay monthly all sales taxes assessed against such increased rent. In no event, however, shall such holding over be deemed or construed to be or constitute a renewal or extension of this Lease.

 

  

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19.  

	
ENVIRONMENTAL COMPLIANCE.

 

19.1.            No Storage or Disposal. Tenant shall not handle, install, store, use, treat, transport or dispose of, spill or discharge (or knowingly permit or acquiesce in the handling, installation, storage, use, treatment, transportation, spilling, discharge or disposal by Tenant, its agents, employees, independent contractors, or subtenants) on the Premises, the Building, the Weston Town Center Common Property or any other portions of Weston Town Center any: (a) asbestos in any form; (b) urea formaldehyde foam insulation; (c) transformers or other equipment which contain dielectric fluid containing levels of polychlorinated biphenyls in excess of 50 parts per million; or (d) any other chemical, material, air pollutant, toxic pollutant, waste, or substance which is regulated as toxic or hazardous or exposure to which is prohibited, limited or regulated by the Resource Conservation Recovery Act, the Comprehensive and Environmental Response Compensation and Liability Act, the Hazardous Materials Transportation Act, the Toxic Substances Control Act, the Clean Air Act, the Clean Water Act or any other federal, state, county, regional, local or other governmental authority or which, even if not so regulated, may or could pose a hazard to the health and safety of the occupants of the Premises, the premises adjacent to the Premises or any other portions of Weston Town Center; and which is either: (i) present in amounts in excess of that permitted or deemed safe under applicable law; or (ii) handled, installed, stored, used, treated, transported, spilled, discharged or disposed of in any manner which is prohibited or deemed unsafe under applicable law. (The substances referred to in (a), (b), (c) or (d) are collectively referred to hereinafter as "Hazardous Materials"). The foregoing is not intended to prevent the use of customary office products customarily used by Tenant, provided that the use, storage and disposal thereof is in strict compliance with all applicable Cleanup Laws.

 

 

19.2.            Cleanup Laws. Tenant shall, at Tenant's own expense, comply with any presently existing or hereafter enacted laws relating to Hazardous Materials ("Cleanup Laws"). Tenant shall, at Tenant's own expense, make all submissions to, provide all information to, and comply with all requirements of the appropriate governmental authority (the "Authority") under the Cleanup Laws. Should any Authority require that a cleanup plan be prepared and that a cleanup be undertaken because of the existence of Hazardous Materials which were handled, installed, stored, used, treated, transported, disposed of, spilled or discharged in the Building or on the Premises, or on any portion of the Weston Town Center Common Property or any other portion of Weston Town Center by Tenant, its agents, employees, independent contractors or subtenants during the Term of this Lease, Tenant shall, at Tenant's own expense, prepare and submit the required plans and financial assurances and carry out the approved plans in accordance with such Cleanup Laws and to Landlord's satisfaction. At no expense to Landlord, Tenant shall promptly provide all information requested by Landlord for preparation of affidavits or other documents required by Landlord to determine the applicability of the Cleanup Laws to the Building, the Premises, or any such portion of the Weston Town Center Common Property or any other portion of Weston Town Center, as the case may be, and shall sign the affidavits promptly when requested to do so by Landlord. Tenant shall indemnify, defend, save and hold Landlord harmless from and against, and reimburse Landlord for, any and all obligations, damages, injunctions, suits, fines, penalties, demands, claims, costs, expenses, actions, liabilities, suits, proceedings and losses of whatever nature (including, without limitation, attorneys' fees and court costs), and all cleanup or removal costs and all actions of any kind arising out of or in any way connected with the handling, installation, storage, use, treatment, transporting, disposal, spillage or discharge of Hazardous Materials in the Building or on the Premises, or on any portion of the Weston Town Center Common Property or any other portion of Weston Town Center by Tenant, its agents, employees, independent contractors or subtenants during the Lease Term; and from all fines, suits, procedures, claims and actions of any kind arising out of Tenant's failure to provide all information, make all submissions and take all steps required by the Authority under the Cleanup Laws or any other environmental law. Tenant's obligations and liabilities under this Section 19.2 shall continue so long as Landlord, any of Landlord's Affiliates and/or the Association remain responsible for Hazardous Materials at the Building, the Premises, or any portion of the Weston Town Center Common Property or any other portion of Weston Town Center, that were handled, installed, stored, used, treated, transported, disposed of, spilled or discharged during the Lease Term by Tenant, its agents, employees, independent contractors or subtenants. In addition to and not in limitation of Landlord's other rights and remedies, Tenant's failure to abide by the terms of this Section 19.2 shall be restrainable by injunction.

 

 

19.3.            Environmental Notices. Each party shall promptly supply the other party with copies of any notices, correspondence and submissions made by such party to or received by such party from any governmental authorities of the United States Environmental Protection Agency, the United States Occupational Safety and Health Administration, or any other local, state or federal authority that relates to environmental matters or hazardous waste or substances.

 

 

 

  

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20.  

	
DEFAULT.

 

20.1.            Events of Default.  Each of the following events shall be an "Event of Default" hereunder by Tenant and shall constitute a breach of this Lease:

 

 

 

20.1.1. If, at anytime during the Term of this Lease, Tenant shall file in any court, pursuant to any statute of either the United States or of any State, a petition in bankruptcy or insolvency, or for reorganization or arrangement, or for the appointment of a receiver or trustee of all or any portion of Tenant's property, including, without limitation, its leasehold interest in the Premises, and such petition is not dismissed within one hundred twenty (120) days of filing or the Lease is rejected within a earlier period of time, or if Tenant shall make an assignment for the benefit of its creditors or petitions for or enters into an arrangement with its creditors.

 

 

20.1.2. If, at any time during the Term of this Lease, there shall be filed against Tenant, in any courts pursuant to any statute of the United States or of any State, a petition in bankruptcy or insolvency, or for reorganization, or for the appointment of a receiver or trustee of all or a portion of Tenant's property, including, without limitation, its leasehold interest in the Premises, and any such proceeding against Tenant shall not be dismissed within one hundred twenty days (120) days following the commencement thereof or the Lease is rejected within a earlier period of time.

 

 

20.1.3. If Tenant's leasehold interest in the Premises or property therein shall be seized under any levy, execution, attachment or other process of court where the same shall not be vacated or stayed on appeal or otherwise within ninety (90) days thereafter, or if Tenant's leasehold interest in the Premises is sold by judicial sale and such sale is not vacated, set aside or stayed on appeal or otherwise within ninety (90) days thereafter.

 

 

20.1.4. If Tenant shall fail to pay, when due, any rents payable hereunder or portion thereof, or any other sum due to Landlord from Tenant hereunder, and such failure continues for ten (10) days after Tenant’s receipt of written notice from Landlord.

 

 

20.1.5. If the Premises or any portion thereof are used or permitted to be used for any Restricted Uses, or for the conduct of any business or activity not permitted by this Lease.

 

 

20.1.6. If Tenant removes or attempts to remove Tenant's goods, merchandise or property from or out of the Premises, other than in the usual and ordinary course of Tenant's business, without the prior written consent and approval of Landlord and without having first paid to Landlord all rents which may become due during the entire Term of this Lease.

 

 

20.1.7. If any assignment or transfer shall be made, attempted to be made or deemed to be made that is in violation of any of the provisions of this Lease.

 

 

20.1.8. If Tenant shall be in default of any other term or provision of this Lease, and Tenant, with respect to a non-monetary default, shall have failed within thirty (30) days of receipt of Landlord's written notice (or such shorter time as is expressly provided in this Lease) to correct such default; provided that if such default is not curable within such thirty (30) day period, Tenant shall have failed within such thirty (30) day period to begin the correction of the default or thereafter fails actively and diligently and in good faith to proceed with and continue the correction of the default until it shall be fully corrected, but in no event shall such cure period exceed ninety (90) days in the aggregate.

 

 

  

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20.2.            Remedies. If an Event of Default shall occur, then and in addition to any other rights or remedies Landlord may have under this Lease and at law or in equity, Landlord shall have the following rights upon no less than three (3) days written notice to Tenant:

 

 

20.2.1. Without terminating this Lease, to accelerate the whole or any part of the Base Rent for the entire unexpired balance of the Term of this Lease, and any rent so accelerated shall, in addition to any and all installments of rent already due and payable and in arrears, and/or any other charge, expense or cost herein agreed to be paid by Tenant which may be due and payable and in arrears, be deemed due and payable as if, by the terms and provisions of this Lease, such accelerated rent were on that date payable in advance.  The accelerated rent shall be discounted to its present value

 

at the annual interest rate established by the Chief Financial Office of the Florida Department of Financial Services pursuant to Florida Statute, Section 55.03, for the year in which Landlord elects to accelerate the Base Rent.

 

 

20.2.2. After use of appropriate summary process, to enter the Premises, and without further demand or notice, proceed to distress and have sold the goods, chattels and personal property there found, to levy the rent, Tenant shall pay all costs and officer's commissions, including, without limitation, watchmen's wages and sums chargeable to Landlord, and further including, without limitation, any sums chargeable according to state law, as commissions to the constable or other person making the levy, and in such case all costs, officer's commissions and other charges shall immediately attach and become part of the claim of Landlord for rent, and any tender of rent without said costs, commissions and charges made, shall not be sufficient to satisfy the claim of Landlord.

 

 

20.2.3. After use of appropriate summary process, to re-enter the Premises and without further demand or notice, remove all persons and all or any property therefrom, by summary eviction proceedings or by any suitable action or proceeding at law, without being liable to indictment, prosecution or damages therefor, and repossess and enjoy the Premises, together with all alterations, fixtures, signs and other installations and improvements of Tenant. Upon recovering possession of the Premises by reason of or based upon or arising out of a default on the part of Tenant, Landlord may, at Landlord's option, either terminate this Lease or make such alterations and repairs as may be necessary in order to relet the Premises and relet the Premises or any part or parts thereof for the account of Tenant, either in Landlord's name or otherwise, for a term or terms which may at Landlord's option be less than or exceed the period which would otherwise have constituted the balance of the Term of this Lease and at such rents and upon such other terms and conditions as in Landlord's reasonable discretion may seem advisable and to such person or persons as may in Landlord's discretion seem best; upon each such reletting all rents received by Landlord from such reletting shall be applied: first, to the payment of any costs and expenses of such reletting, including, without limitation, brokerage fees and attorney fees and all costs of such alterations and repairs; second, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; third, to the payment of rent due and unpaid hereunder, and the residue, if any, shall be held by Landlord and applied in payment of future rent as it may become due and payable hereunder. If such rentals received from such reletting during any month shall be less than that to be paid during that month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such re-entry or taking possession of the Premises or the making of alterations and/or improvements thereto or the reletting thereof shall be construed as an election on the part of Landlord to terminate this Lease unless written notice of such intention be given to Tenant.  Landlord shall in no event be liable in any way whatsoever for failure to relet the Premises or, in the event that the Premises or any part or parts thereof are relet, for failure to collect the rent thereof under such reletting. Tenant, for Tenant and Tenant's successors and assigns, hereby irrevocably constitutes and appoints Landlord as Tenant's and their agent to collect the rents due and to become due under all subleases of the Premises or any parts thereof without in any way affecting Tenant's obligation to pay any unpaid balance of rent due or to become due hereunder. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach.

 

 

20.2.4. To declare a default hereunder and take possession of the Premises without any right on the part of Tenant to waive the forfeiture by payment of any sum due or by other performance of any condition, term or covenant broken. Whereupon Landlord shall be entitled to recover, in addition to any and all sums and damages for violation of Tenant's obligations hereunder in existence at such time, damages for Tenant's default in an amount equal to the amount of the rent reserved for the balance of the Term of this Lease, as well as all other charges, payments, costs and expenses herein agreed to be paid by Tenant.

 

 

20.2.5. To terminate this Lease and the term hereby created without any right on the part of Tenant to waive the forfeiture by payment of any sum due or by other performance of any condition, term or covenant broken. Whereupon Landlord shall be entitled to recover, in addition to any and all sums and damages for violation of Tenant's obligations hereunder in existence at the time of such termination, damages for Tenant's default in an amount equal to the amount of the rent reserved for the balance of the Term of this Lease, as well as all other charges, payments, costs and the expenses herein agreed to be paid by Tenant.

 

 

20.2.6. In the event the Premises are relet by Landlord, Tenant shall be entitled to a credit against its rental obligations hereunder in the amount of rents received by Landlord from any such reletting of the Premises less any reasonable costs incurred by Landlord (not previously reimbursed by Tenant) in connection with the repossession and reletting of the Premises (including, without limitation, reasonable attorneys’ fees, brokerage commissions, and any cost of repairs, alterations and improvements to the Premises).  In the event of any termination of this Lease or repossession of the Premises by Landlord as aforesaid, Landlord shall use reasonable efforts to relet the Premises at a fair market rental or as near thereto as is possible under the circumstances then existing so as to minimize the damages suffered by Landlord and payable by Tenant hereunder.

 

  

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20.3.            Right of Injunctive Relief.  In the event of a breach or threatened breach by Tenant of any of the terms, covenants, conditions or provisions thereof, Landlord shall have the right of injunction and the right to invoke any remedy allowed at law or in equity as if re-entry, summary proceedings and other remedies were not herein provided for.

 

 

20.4.            Rights Not Exclusive, Additional Remedies. No right or remedy herein conferred upon or reserved to Landlord is intended to be exclusive of any other right or remedy herein or by law provided that each shall be cumulative and in addition to every other right or remedy given herein or now or hereafter existing at law or in equity or by statute. Nothing herein contained shall be construed as precluding the Landlord from having or exercising such lawful remedies as may be and become necessary in order to preserve the Landlord's right or the interest of the Landlord in the Premises and in this Lease, even before the expiration of any notice periods provided for in this Lease, if under the particular circumstances then existing the allowance of such notice periods will prejudice or will endanger the rights and estate of the Landlord in this Lease and in the Premises. Landlord may assign any or all of its enforcement rights hereunder or in connection herewith to the Association, on an exclusive or nonexclusive basis, in Landlord’s sole discretion.

 

 

20.5.            Intentionally Deleted.

 

 

20.6.            Notice to Landlord.  Landlord shall in no event be in default in the performance of any of its obligations contained in this Lease unless and until Landlord shall have failed to commence to perform such obligation within a reasonable period of time after receipt of written notice from Tenant by Landlord properly specifying wherein Landlord has failed to perform any such obligation or shall have failed to proceed thereafter with reasonable diligence to complete such performance. Notwithstanding the foregoing, if in Tenant’s reasonable judgment, an emergency (as defined in Section 10.1.2. hereof) shall exist, Tenant may cure such default without any prior notice to Landlord.  If Landlord has not reimbursed Tenant within thirty (30) days after receipt of Tenant’s bill, Tenant may deduct the reasonable cost of such expense from the Base Rent next becoming due after the expiration of said thirty (30) day period. The self-help option given in this Section is for the sole protection of Tenant, and its existence shall not release Landlord from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Landlord or deprive Tenant of any legal rights which it may have by reason of any such default by Landlord.

 

 

20.7.            Landlord’s Lien.  Landlord shall have at all times during the Term of this Lease, a valid lien for all rents and other sums of money becoming due hereunder from Tenant, upon all goods, wares, merchandise, inventory, furniture, fixtures, equipment and other personal property and effects of Tenant situated in or upon the Premises, and such property shall not be removed therefrom without the approval and consent of Landlord (which shall not be unreasonably withheld, delayed or conditioned) until all arrearage in rent as well as any and all other sums of money then due to Landlord hereunder shall first have been paid and discharged in full.  Upon the occurrence of any Event of Default by Tenant, Landlord may, in addition to any other remedies provided herein or by law, enter upon the Premises and take possession of any and all goods, wares, merchandise, inventory, furniture, fixtures, equipment and other personal property and effects of Tenant situated in or upon the Premises without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, at which Landlord or its assigns may purchase, and apply the proceeds thereof, less any and all expenses connected with the taking of possession and sale of the property, as a credit against any sums due by Tenant and Tenant agrees to pay any deficiency forthwith.  Alternatively, the lien hereby granted may be foreclosed in the manner and form provided by law for foreclosure of security interests or in any other manner and form provided by law.  The statutory lien for rent, if any, is not hereby waived and the express contractual lien herein granted is in addition thereto and supplementary thereto.

 

  

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21.  

	
MISCELLANEOUS.

 

21.1.            Waiver.  One or more waivers of any covenant, term or condition of this Lease by either party shall not be construed by the other party as a waiver of a subsequent breach of the same term, covenant or condition. The consent or approval of either party to or of any act by the other party of a nature requiring consent or approval shall not be deemed to waive or render unnecessary consent to or approval of any subsequent similar act.

 

 

21.2.            Notices.  Any notice required or permitted to be given under this Lease shall be deemed given if delivered personally to an officer or general partner of the party to be notified or sent by United States registered or certified mail, or by national overnight receipted delivery service (e.g. Federal Express), postage prepaid, return receipt requested, and if to Tenant addressed to Tenant at 2000 Ultimate Way, Weston, FL 33326, Attn:  General Counsel, and if to Landlord addressed to Landlord at c/o Belmont Investment Corp., 1400 N. Providence Road, Suite 415, Media, PA 19063, or such other addresses as may be designated by either party by ten (10) days’ written notice to the other. Except as otherwise provided in this Lease, every notice, demand, request or other communication hereunder shall be deemed to have been given, or served and received upon the earlier to occur of: (i) the date of actual delivery thereof; or (ii) the first date on which the United States mail or receipted overnight carrier first attempted to deliver such notice (in the event said carrier is unable to deliver such notice, or delivery of such notice is refused).  Notices sent via facsimile prior to 5:00 pm (Eastern Time) on any business day are permitted so long as same day written confirmation of such transmission is obtained by the sending party and shall be deemed to be received on the date of transmission, provided that a duplicate notice is sent simultaneously by one of the other delivery methods permitted herein.

 

 

21.3.            Relationship of Parties.  Nothing contained in this Lease nor any act or acts of the parties shall be deemed or construed by the parties hereto or by any third party to create the relationship of principal and agent or of partnership or of joint venture or of any association whatsoever between Landlord and Tenant, other than the relationship of landlord and tenant.

 

 

21.4.            Governing Law.  The laws of the State of Florida shall govern the validity, performance and enforcement of this Lease.

 

 

21.5.            Savings Clause.  The invalidity or unenforceability of any provision of this Lease shall not affect or impair the validity of any other provision.

 

 

21.6.            Headings.  The paragraph titles herein are for convenience only and do not define, limit or construe the contents of such paragraph.

 

 

21.7.            Covenant to Bind Successors.  It is agreed that the provisions, covenants and conditions of this Lease shall be binding on the legal representatives, heirs, successors and assigns of the respective parties hereto.

 

  

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21.8.            Estoppel Certificate.  Each of Landlord and Tenant shall, within ten (10) days after a request from time to time made by the other party, give a certification in writing to any person, firm or corporation reasonably specified by the requesting party stating: (a) that this Lease is then in full force and effect and unmodified or, if modified, stating the modifications; (b) that, in the case of Tenant, Tenant is not in default in the payment of rent or any additional amounts to Landlord or, if in default, stating such default; (c) that so far as the maker of the certificate knows, the other party is not in default in the performance or observance of any other covenant or condition to be performed or observed under this Lease or, if the other party is in default, stating such default; (d) that so far as the maker of the certificate knows, no event has occurred which authorizes, or with the lapse of time will authorize, the other party to terminate this Lease or, if such event has occurred, stating such event; (e) that so far as the maker of the certificate knows, the other party does not have any offsets, counterclaims or defenses or, if either party has any such offsets, counterclaims or defenses, stating them; (f) in the case of Tenant, the date to which rent and other amounts payable hereunder by Tenant have been paid; and (g) any other matters which may be reasonably requested by the requesting party.

 

 

21.9.            Force Majeure.  If the performance by either of the parties of its obligations under this Lease (excluding monetary obligations) is delayed or prevented in whole or in part by any law, rule, regulation, order or other action adopted or taken by any federal, state or local governmental authority (and not attributable to an act or omission of said party), or by any acts of God, fire or other casualty, floods, storms, explosions, accidents, epidemics, war, civil disorders, strikes or other labor difficulties, shortages or failure of supply of materials, labor, fuel, power, equipment, supplies or transportation, or by any other cause not reasonably within said party's control, whether or not specifically mentioned herein, said party shall not be deemed to be in default hereunder with respect thereto unless such party fails to promptly remedy such lack of performance immediately following the end of such event of force majeure.

 

 

21.10.                       Brokerage.  Landlord and Tenant hereby represent and warrant to each other that there is no real estate broker or salesperson involved in this Lease other than: NONE.  If a claim for brokerage or similar fees in connection with this Lease is made by any broker, salesperson or finder claiming to have dealt through or on behalf of one of the parties to this Lease, then that party shall indemnify, defend and hold the other party under this Lease harmless from all liabilities, damages, claims, costs, fees and expenses whatsoever (including, without limitation, attorneys' fees and court costs, including those for appellate matters) with respect to said claim for brokerage or similar fees.

 

 

21.11.                       Entire Agreement; Amendment.  This Lease contains the entire agreement between the parties and, except as otherwise provided herein, can only be changed, modified, amended or terminated by an instrument in writing executed by the parties. It is mutually acknowledged and agreed by Landlord and Tenant that there are no verbal agreements, representations, warranties or other understandings affecting the same; and that Tenant hereby waives, as a material part of the consideration hereof, all claims against Landlord for rescission, damages or any other form of relief by reason of any alleged covenant, warranty, representation, agreement or understanding not contained in this Lease.

 

 

21.12.                       Attorney’s Fees and Costs.  In the event it shall become necessary for either party to employ the services of an attorney to enforce any of its rights under this Lease, regardless of whether a suit be brought, the non-prevailing party shall pay to the prevailing party the prevailing party's attorneys' fees. Should suit be brought for the recovery of possession of the Premises, or for rent or any other sums due Landlord under this Lease, or because of the default of any of Tenant's covenants under this Lease, Tenant shall pay to Landlord all expenses of such suit and any appeal thereof, including, without limitation, attorneys' fees.

 

 

21.13.                       Radon Gas. In accordance with the provisions of Florida Statutes Chapter 404.29(8), notification is hereby tendered concerning the possible existence of Radon Gas in or about the Premises. Please be advised that: “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 overtime. 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.”

 

  

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21.14.                       Negotiation and Execution.  The furnishing of this Lease by the Landlord to Tenant shall not be considered an offer to lease, even though completed in every respect, until and unless the appropriate officers of Landlord have executed the document. No correspondence or other communication respecting this Lease shall create any obligation to go forward with this Lease until the Lease document is fully completed and executed by both the Landlord and Tenant.

 

 

21.15.                       Limitation of Liability.  NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THIS LEASE, NEITHER LANDLORD NOR ANY PRESENT OR FUTURE PARTNER IN OR AFFILIATE OF LANDLORD, NOR ANY SHAREHOLDER, OFFICER, DIRECTOR, MEMBER, EMPLOYEE OR AGENT OF ANY CORPORATION THAT IS OR BECOMES A PARTNER IN LANDLORD, SHALL BE PERSONALLY LIABLE, DIRECTLY OR INDIRECTLY, UNDER OR IN CONNECTION WITH THIS LEASE, OR ANY DOCUMENT, INSTRUMENT OR CERTIFICATE SECURING OR OTHERWISE EXECUTED IN CONNECTION WITH THIS LEASE, OR ANY AMENDMENTS OR MODIFICATIONS TO ANY OF THE FOREGOING MADE AT ANY TIME OR TIMES, HERETOFORE OR HEREAFTER, OR IN RESPECT OF ANY MATTER, CONDITION, INJURY OR LOSS RELATED TO THIS LEASE OR THE BUILDING, AND ONLY LANDLORD'S INTEREST IN THE BUILDING (OR PROCEEDS THEREOF) SHALL BE AVAILABLE TO SATISFY ANY CLAIMS AGAINST LANDLORD; AND THE TENANT AND EACH OF ITS SUCCESSORS AND ASSIGNEES WAIVES AND DOES HEREBY WAIVE ANY SUCH PERSONAL LIABILITY.  For purposes of this Lease, and any such instruments and certificates, and any such amendments or modifications, neither the negative capital account of any partner in Landlord, nor any obligation of any partner in Landlord to restore a negative capital account or to contribute capital to Landlord or to any other partner in Landlord, shall at any time be deemed to be the property or an asset of Landlord or any such other partner (and neither Tenant nor any of its successors or assignees shall have any right to collect, enforce or proceed against or with respect to any such negative capital account or a partner's obligation to restore or contribute).

 

 

21.16.                       Waiver of Jury Trial. 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 ANY MATTERS WHATSOEVER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS LEASE, TENANT'S USE OR OCCUPANCY OF THE PREMISES OR ANY CLAIM OF INJURY OR DAMAGE.

 

 

21.17.                       Counterparts.  This Lease may be executed in one or more counterparts, which shall be construed together as one document.

 

 

21.18.                       Right of First Offer.  Upon condition that Tenant is not in default in the performance of any covenant or obligation to be performed by Tenant under this Lease beyond any applicable notice or cure periods, Landlord agrees that Landlord will not enter into any new lease of any space on the first floor of the Building which may become vacant during the Term of this Lease (the “First Offer Space”) with any tenant unless Landlord shall first offer in writing said space to Tenant.  Prior to entering into negotiations with any other party to lease the First Offer Space, Landlord shall give Tenant notice (“Landlord’s First Offer Notice”) that such space is available for leasing.  If Tenant fails to notify Landlord within ten (10) days of Tenant’s receipt of Landlord’s First Offer Notice that Tenant wishes to lease the First Offer Space, Tenant shall have waived any and all rights it may have under this Section 21.18 with respect to the First Offer Space.  If Tenant notifies Landlord within ten (10) days of Tenant’s receipt of Landlord’s First Offer Notice that Tenant wishes to lease the First Offer Space, the First Offer Space shall automatically be leased to Tenant on the same terms and conditions as set forth in this Lease with respect to the Premises, with coexisting dates of expiration and options to renew, except that the Base Rent shall be at the then current, “Fair Market Rental Rate” for the First Offer Space.  If Tenant shall fail to exercise its right of first offer, then at Landlord’s request, Tenant shall execute a release of its right of first offer herein granted as applicable to the space so offered to Tenant.  For purposes of this Lease, the term “Fair Market Rental Rate” shall mean the annual rent for similar commercial type property in Weston, Florida (taking into account: size, location, condition and other relevant factors, and the term of the extension period, permitted use and other business provisions provided for in this Lease) at the time in which Tenant exercises its option.

 

 

21.19.                       Future Development on Weston Town Center Common Property.  The parties acknowledge that the Common Area Owner is currently contemplating the development and construction of multilevel retail and residential use buildings, together with parking garages and certain other common facilities and improvements, on the Weston Town Center Common Property of Weston Town Center (“Future Development”).   The parties agree that nothing contained in this Lease shall prohibit nor prevent the Common Area Owner from pursuing and constructing the Future Development and that any construction of the Future Development shall not unreasonably interfere with Tenant’s business operation, nor with the Premises, nor interfere with parking on the Weston Town Center Common Property by Tenant, its employees, guests, invitees and/or licensees. The parties further agree that the Future Development shall not constitute or be considered as an eviction or disturbance of Tenant's quiet enjoyment or possession of the Premises so long as such steps are accomplished without unreasonable disruption of (i) access to the Premises, (ii) Tenant's business or (ii) the Permitted Use.

 

 

  

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21.20.                       Easement and Leasehold Appurtenance.  The Common Area Owner hereby agree to grant to Tenant an easement on, over, across, through and below  that certain property, owned by  Common Area Owner, as same may be necessary, for the installation, operation, repair and replacement of private cables, optics, wires, raceways, relays, and all necessary appurtenances for the furnishing of information and internet communication connections, and networking (“Information Technology Facilities”) to run from, and facilitate hookup and connection between, the Premises and that certain property located at 1830 Main Street, Weston, Florida, and 2000 Ultimate Way, Weston, Florida (“Easement”). Landlord hereby grants to Tenant the right to connect The Information Technology Facilities from the Easement area to the Building, which right shall be a leasehold appurtenance, and which right shall continue in full force and effect for so long as this Lease, together with any exercised Option Term, is in effect.  The Easement shall be in recordable form and shall be in substantially the form and substance as attached hereto as Exhibit E (“Easement Agreement”).  All trenching work will be outside the footprint of the Building, and fiber cable(s) will enter the Building through the wall on the second floor of the Building which will require a bore hole, which bore hole will be no greater than 2 inches in diameter. The Easement Agreement shall be executed by  Common Area Owner, and joined by Landlord,  and thereafter recorded in the Public Records of Broward County, Florida at the time Information Technology Facilities are ready to be installed.  The Easement Agreement shall be for a term to be commensurate with the Term of this Lease, together with any exercised Option Term and/or the term of Tenant’s lease of premised located at 1830 Main Street, Weston, Florida, together with any exercised option term, all as more particularly set forth in the Easement Agreement.  Failure of Landlord to execute the Easement Agreement and cooperate with Tenant in good faith shall constitute a default in this Lease by Landlord .  In addition to the execution and joinder of the Easement Agreement, Landlord and Common Area Owner hereby agree to reasonably cooperate with Tenant and its contractor(s) in their construction and installation of the Information Technology Facilities within the Easement so as to not cause harm to, or delay of, the installation of same; and further to take all actions reasonably requested by Tenant in connection with the Easement and Tenant’s installation of the Information Technology Facilities, including but not limited to the granting of additional easements, execution of any permits, or other documentation which may be reasonably requested or required of them in order to accomplish the installation of same.  Tenant shall pay all costs associated with the Easement including, without limitation, survey costs, engineering fees, legal fees, and any costs incurred in running the Information Technology Facilities, to the Building, 1830 Main Street, Weston, Florida, and 2000 Ultimate Way, Weston Florida, including, without limitation, construction costs, construction plans, engineering fees, and permit fees.

 

IN WITNESS WHEREOF, Landlord and Tenant have caused this Lease to be duly executed as of the Execution Date.

 

 

Signed, sealed and delivered                        "LANDLORD"

in the presence of:                       2000 Main Street Associates, LLC,

 

 

 

 

/s/ Peter  Mardinly                                                                                                  

Print Name:Peter Mardinly                    A Delaware limited liability company

                                                             

 

 

/s/ Maria Costigan                         By: /s/ Barry J. Belmont

Print Name:Maria J. Costigan                     Barry J. Belmont, President 

     

                        ACKNOWLEDGMENT

 

 

COMMONWEALTH OF PENNSYLVANIA                       )

                    ) SS:

COUNTY OF DELAWARE                                                    )

 

 

       The foregoing instrument was acknowledged before me this 4  day of _November  , 2010, by Barry J. Belmont, President of 2000 Main Street Associates, LLC, a Delaware Limited Liability company, who is personally known to me or has produced  __ as identification.

 

 

                                 NOTARY PUBLIC  /s/ Steven Harner

                                 Print Name: Steven J. Harner

                                 Commission Exp:11/18/2010

                                 Commission No:_________

 

 

 

 

 

  

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Signed, sealed and delivered                  "TENANT"

in the presence of: 

 

/s/ Evelyn Koganti

Print Name: Evelyn Koganti

 

                         The Ultimate Software Group, Inc.,

 

/s/ Crystal Schaffer

                                                                                                                      

Print Name:_Crystal Schaffer               a Delaware corporation

                         doing business in Florida as

                         US Group (DE), Inc.

 

                         By: /s/ Robert Manne

                         Name:_Robert Manne

                         Title:_Senior VP

                                        

                                                                                                      

 

 

                            ACKNOWLEDGMENT

                              Individual

 

STATE OF   Florida                                                                            )

                      ) SS:

COUNTY OF  Broward                                                                  )

 

 

       The foregoing instrument was acknowledged before me this_3 day of November, 2010, by  Robert Manne  as Sr. VP  of  Ultimate Software Group, Inc. a Delaware corporation, who is personally known to me or has produced  __ as identification.

 

 

 

 

                           NOTARY PUBLIC: /s/ Darlene J. Smith

                          Print Name:___Darlene Smith

                          Commission Exp:________

                          Commission No:_________

 

 

 

 

  

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Signed, sealed and delivered                "COMMON AREA OWNER"

in the presence of:                  WESTON COMMON AREA, LLC,

  

 

/s/Peter  Mardinly                                                                                                                             

Print Name:_Peter A. Mardinly               A Florida limited liability company

                                                                 

 

 

 

 /s/ Maria J. Costigan                   By: /s/ Barry J. Belmont

Print Name:Maria J. Costigan                Barry J. Belmont, Managing Member

                                                 

                                      ACKNOWLEDGMENT

 

 

COMMONWEALTH OF PENNSYLVANIA                       )

                    ) SS:

COUNTY OF DELAWARE                                                    )

 

 

       The foregoing instrument was acknowledged before me this __4th  day of November , 2010, by Barry J. Belmont, the managing member of Weston Common Area, LLC, a Florida limited liability company, who is personally known to me or has produced as identification.

 

 

 

 

                            NOTARY PUBLIC: /s/ Steven J. Harner

                            Print Name: Steven J. Harner

                            Commission Exp:_________

                            Commission No:__________

 

 

 

 

 

  

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Exhibit A

Weston Town Center Site Plan

[                                                                                                                                                              ]

  

27

  

 

 

Exhibit B

Second Floor Plan of Building

[]                                                                                                                                                         

  

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Exhibit C

Tenat's Work

[                                                                                                                                                                           ]

  

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EXHIBIT D

WESTON TOWN CENTER RULES AND REGULATIONS

 

The following are the Rules and Regulations of Weston Town Center and, as indicated, shall be applicable to the use and operation of the Weston Town Center Common Property and to the use, occupancy and operation of all Buildings within Weston Town Center:

 

1. Access. Tenant shall not obstruct any elevators, vestibules, stairways, corridors, halls, sidewalks, passages, exits, entrances, roadways, truck ways, loading docks, package pick-up stations, or pedestrian sidewalks or ramps within any Building or any other portion of Weston Town Center. No sidewalk or walkway shall be used for other than pedestrian travel. No person shall use any roadway, sidewalk, or walkway, except as a means of egress or ingress to retail or commercial establishments or residential areas or automobile parking areas within Weston Town Center, or adjacent public streets. Such use shall be in an orderly manner, and in accordance with the directional and other signs or guides. Roadways shall not be used for parking or stopping, except for the immediate loading or unloading of passengers.

 

2. Advertising. Tenant shall not: (i) conduct any fire, bankruptcy, auction or “Going Out of Business” sale (whether real or fictitious), nor shall Tenant represent or advertise that it regularly or customarily sells merchandise at “manufacturer’s or distributor’s discount”, “wholesale,” “warehouse,” or other than at “retail” prices; (ii) use, or permit to be used, the Premises, the sidewalks or other portions of the Weston Town Center Common Property for solicitation or for the sale or display of any merchandise or for any other business, occupation or undertaking, or for outdoor public meetings, circuses or other entertainment of any kind (except for promotional activities in cooperation with the Landlord); (iii) use or permit to be used any sound broadcasting or amplifying device which can be heard outside of the Premises; or (iv) use or permit to be used any flashing, beacon, strobe, chaser or other form of special attention-getting lighting which may be visible from the exterior of the Premises. Tenant shall not park any trailer, truck or other vehicle in Weston Town Center at any time for the purpose of advertising or promoting Tenant’s business. Upon Landlord’s request, Tenant shall cease any advertising by Tenant which uses or employs or references the name of Weston Town Center or any derivative thereof and which, in Landlord’s reasonable opinion, tends to adversely impact or impair the reputation of Weston Town Center or Landlord.

 

3. Illumination of Signs. The illumination of Tenant’s signs shall be controlled by Landlord during such hours as may be reasonably designated by Landlord.

 

4. Solicitation, Etc. Tenant shall not, and shall not permit any third parties to, solicit business or engage in any promotional activities or distribute any handbills or other promotional or advertising materials of any kind within the Premises or any other portion of Weston Town Center (except within the Premises and then only to the extent such advertising materials or promotional activities are intended solely to promote sales of the items sold within the Premises and are not also intended to promote or publicize any business or attraction not located within Weston Town Center), nor shall Tenant engage or permit any third parties to engage, in any sales or promotional practices within the Premises or any other portion of Weston Town Center. Tenant shall not, and shall not permit any third parties to, solicit for or distribute any promotional or advertising materials or engage in any promotional activities, which are intended to, or which may have the effect of encouraging customers of Tenant to attend, shop at, or order merchandise from any store, business, attraction or other location not contained within Weston Town Center, without Landlord’s prior written consent, which consent Landlord may withhold in its sole and absolute discretion. Tenant shall not solicit membership in or contributions for any organization, group, association or any other purpose, or permit any other third parties to do the same anywhere in the Premises or any portion of Weston Town Center, without Landlord’s prior written consent, which consent Landlord may withhold in its sole and absolute discretion. Canvassing, soliciting, and peddling within the Premises and within any other portion of Weston Town Center is prohibited, and Tenant shall cooperate to prevent the same. In addition to the foregoing, neither Tenant nor Weston Town Center employees or agents shall, in or on any part of Weston Town Center:

 

	
A.

	
Engage in any conduct that might tend to interfere with or impede the use of any of the Weston Town Center Common Property by any customer, business invitee, employee, or tenant of Weston Town Center, create a disturbance, attract attention, or harass, annoy, disparage, or be detrimental to the interest of any of the retail, commercial or residential (if any) establishments within Weston Town Center.

 

	
B.

	
Throw, discard, or deposit any paper, glass, or extraneous matter of any kind, except in a designated trash receptacle, or create litter hazards of any kind.

 

	
C.

	
Use any sound making device of any kind or create and produce in any manner noise or sound that is annoying, unpleasant or distasteful to any other tenant, occupant, or adjacent resident.

 

	
D.

	
Deface, damage, or demolish any sign, light standard or fixture, landscaping material, or other improvement within Weston Town Center, or the property of customers, business invitees, or employees situated within Weston Town Center.

 

  

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5. Parking. Tenant, and Tenant’s employees and customers shall not use any automobile parking areas except for the parking of motor vehicles during the period of time the occupant(s) of such motor vehicles are working in or customers or business invitees of retail or commercial establishments within Weston Town Center. Usage of parking spaces shall be in common with all other tenants of the Building or of Weston Town Center, and their employees, agents, invitees and guests. Additionally, Tenant’s employees, agents, invitees and guests shall abide by all posted roadway signs on or about the parking facilities and all motor vehicles shall be parked in an orderly manner within the painted lines defining the individual parking spaces. Trailers, trucks or cars shall not be permitted lo remain parked overnight within Weston Town Center, whether loaded, unloaded or partially loaded. Landlord shall have the right to tow away any vehicle, at Tenant’s expense, which is in violation of these Rules and Regulations or which is determined by Landlord to be objectionable, if after written notice to Tenant, Tenant has failed to remove the same. In the event that Tenant or its employees shall fail, after written notice, to park in the designated parking areas (in the event any such areas are hereafter so designated for employee parking as set forth in the Lease), Landlord, at its option, shall be entitled to charge Tenant Twenty-Five Dollars ($25.00) per day or partial day per car parked in any area other than the designated employee parking area. Tenant agrees that parking lots contained within Weston Town Center shall be managed by Landlord; and that Landlord may prohibit Tenant and Tenant’s employees from parking in such lots if Landlord deems it advisable to reserve such spaces for retail, commercial and other customers of Weston Town Center. EMPLOYEE PARKING ON MAIN STREET SHALL BE STRICTLY PROHIBITED.

 

6. Theft or Loss. Tenant shall be responsible for the protection and security of the Premises and all property therein from robbery, theft, vandalism, pilferage or other loss. Landlord shall not be responsible for lost or stolen personal property, equipment or money occurring within the Premises or the Building, regardless of how or when the loss occurs. Tenant, upon leaving the Premises at the end of any day, shall see that all windows and exit doors from the Premises are closed and locked. Tenant shall furnish Landlord with “after-hours” emergency telephone numbers, for the sole use of Landlord at its sole and absolute discretion. Except for emergency purposes, Landlord will use its best efforts to keep such telephone numbers confidential.

 

7. Keys. Landlord shall furnish Tenant (free of charge) with two (2) keys to each door lock in the Premises. Landlord shall have the right to retain at all times, and to use in appropriate instances, keys to all doors within and to the Premises. No additional locks or bolts of any kind shall be placed upon any of the doors or windows by Tenant, nor shall any changes be made in existing locks or the mechanism thereof, without the prior written consent of Landlord, which consent Landlord may withhold in its own discretion, and unless a duplicate key is delivered to Landlord. Tenant, upon the expiration or earlier termination of the Lease, shall deliver to Landlord all keys to all doors in the Premises, and in the event of a failure of Tenant to do so, Landlord shall have the right to change any locks in the Premises and charge Tenant for the reasonable cost thereof.

 

8. Deliveries/Loading/Unloading. All deliveries to the Premises and loading and unloading of goods shall be done only at the rear entrance(s) to the Premises, or as may be otherwise determined by Landlord from time to time.

 

9. Moving/Equipment. Tenant shall not use any hand trucks or other material-handling equipment within the Premises or the Building, within which the Premises is located, except those equipped with rubber tires and side guards. Any damage to the Premises, said Building or any other portion of Weston Town Center arising out of the movement of any equipment, furniture or other property, shall be repaired by Tenant at its sole expense.

 

10. Equipment/Vibration. Landlord shall have the right to prescribe the weight, size and location of all equipment, materials, furniture or other property brought into the Premises, and the Building. Landlord shall also have the right to require all such items to be moved into and out of said Building or the Premises only at such times and in such manner as Landlord shall direct in writing; provided, however, movement of Tenant’s property into and out of the Premises of said Building are entirely at the risk and responsibility of Tenant. Tenant shall not place a load upon any floor which exceeds the designed load per square foot or the load permitted by law. Heavy objects shall stand on such platforms as may be necessary to properly distribute the weight thereof. Business machines and mechanical equipment which cause noise or vibration that may be transmitted, felt or heard outside the Premises, shall be placed and maintained by Tenant at Tenant’s expense, on vibration eliminators or other similar devices.

 

11. Installation of Services/Roof. Except for telephone, computers and fax equipment installed wholly within the Premises and intended solely to support Tenant’s business on the Premises, Tenant shall not install any signal, communications, telegraphic, telephonic, burglar alarm or similar services within the Premises, or any part of the Building, without Landlord’s prior written approval, and Tenant shall comply with all reasonable limitations or restrictions imposed by Landlord in connection with the installation thereof any such work, if approved by Landlord, shall be done at Tenant’s sole cost and expense. Tenant shall not go onto the roof of any Building for any reason without Landlord’s prior written approval, which approval Landlord may withhold in its sole and absolute discretion.

12. Antennas, Etc. Tenant shall not install any radio or television antenna, loudspeaker or other device on the roof or exterior walls of the Premises or the Building or any other portion of Weston Town Center. Tenant shall not interfere with radio or television broadcasting or reception from or within Weston Town Center or any property located within the general vicinity of Weston Town Center.

 

  

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13. Exterior Appearance. Tenant shall not place or install any show cases, awnings, window coverings, shades, lighting, signs, canopies, or any other item or article, in front of or affixed to any part of the exterior of the Premises or the Building or any other portion of Weston Town Center which would affect the visual appearance of same, without Landlord’s prior written consent, which consent Landlord may withhold in its sole and absolute discretion.

 

14. Restrooms. The restrooms, toilets, urinals, wash bowls and other bathroom facilities and apparatus shall not be used for any purpose other than that for which they were constructed, and no foreign substances of any kind whatsoever shall be disposed of therein. All expenses of repair or replacement due to any breakage, stoppage or damage of any bathroom facilities or related sanitary sewer lines in the Premises shall be borne exclusively by Tenant.

 

15. Fire-Retardant Materials. All paneling or other wood products not considered furniture which Tenant shall install in the Premises shall be of fire-retardant materials. Prior to the installation of any such materials, Tenant shall submit to Landlord a satisfactory (in the reasonable opinion of Landlord) certification of such materials’ fire-retardant characteristics.

 

16. Landlord’s Right. Landlord shall have the right, but not the obligation, to remove or exclude from or to restrain (or take legal action to do so) any unauthorized person from, or from coming upon, Weston Town Center or any portion thereof, and to prohibit, abate, and recover damages arising from any unauthorized act, whether or not such act is in express violation of these Rules and Regulations or of this Lease.

 

17. Compliance. Tenant shall be responsible for the compliance by its employees and agents with the foregoing Rules and Regulations, and, with respect to Tenant’s customers, invitees and guests, Tenant shall exercise due diligence in the enforcement and observation of these Rules and Regulations.

 

18. Waiver. No release or waiver by Landlord of any provisions herein shall be enforceable by Tenant unless in writing and executed by Landlord. The failure by Landlord to insist upon the strict performance of any of the terms or provisions hereof shall not be deemed a waiver of any rights or remedies of Landlord or a waiver of any subsequent violation or failure of compliance with these Rules and Regulations.

 

19. Amendment. Landlord shall have the right to promulgate additional Rules and Regulations or amend or rescind any of the foregoing Rules and Regulations from time to time as Landlord in its sole and absolute discretion deems suitable, including, without limitation, for the safety, care and cleanliness of Weston Town Center and the conduct of a first class retail shopping/commercial/residential district. Tenant shall comply with all new or amended Rules and Regulations upon receipt of written notice of the same from Landlord.

 

20. Consent. Whenever any consent or approval of Landlord is required pursuant to these Rules and Regulations, such consent shall be in writing and shall be given or withheld by Landlord in accordance with the standards for such consent or approval as set forth in this Lease, said consent or approval not to be unreasonably withheld.

 

21. Conflict with Lease. These Rules and Regulations are in addition to and shall not be construed to in any way modify or amend the terms, provisions, agreements, covenants and conditions of this Lease. In the event of any conflict between the Rules and Regulations and this Lease, the terms and provisions of this Lease shall prevail.

 

22. Association Declaration and Rules. These Rules and Regulations are in supplement to, and not in derogation of, the Association Declaration. In the event of conflict between these Rules and Regulations and the Association Declaration, the more restrictive shall control. Tenant shall comply with the Association Declaration.

 

23. Customers’ Store Entrance. All customers must enter the Premises only at the front entrance(s) to the Premises, or as may be otherwise determined by Landlord from time to time.

 

24. Sign Criteria. Tenants are encouraged to have window displays, however, no signage shall be affixed to the window. Any hang-down signs, etc. shall not be less than eighteen (18) inches from the store front window of the Premises.

  

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                                  EXHIBIT E

                                EASEMENT AGREEMENT

 

This instrument prepared by

and record and return to:

Doretta Martone Knoerr, Esq.

Becker & Poliakoff, P.A.

3111 Stirling Road

Ft. Lauderdale, Fl 33312

 

 

NON-EXCLUSIVE EASEMENT FOR IT FACILITIES

 

THIS EASEMENT is made as of the                                                                         day of                 , 2010, by and between WESTON COMMON AREA, LLC, a Florida limited liability company (“Common Area Owner”) (“Grantor”) and THE ULTIMATE SOFTWARE GROUP, INC., a Delaware corporation doing business in Florida as US GROUP (DE) INC. (“Grantee”), and joined by 2000 MAIN STREET ASSOCIATES, LLC, a Delaware limited liability company (“2000 Landlord”) and joined by MICARI HOLDINGS, LLC, a Florida limited liability company (“1830 Landlord”) for the purposes stated herein.

 

W1TNESSETH:

 

WHEREAS, 2000 Landlord is the owner of the building and real property improvements located at 2000 Main Street, Weston, Florida; and

 

WHEREAS, 1830 Landlord is the owner of the building and real property improvements located at 1830 Main Street, Weston, Florida; and

 

WHEREAS, Common Area Owner is the owner of all Common Property within Weston Town Center, as set forth in that certain Declaration of Covenants for Weston Town Center, recorded on February 10, 2000 in Official Records Book 30249, Pages 1592 - 1702, of the Public Records of Broward County, Florida, as amended (the “Declaration”), subject to all other easements and restrictions of record; and,

 

WHEREAS, each of the above properties is subject to the Declaration; and,

 

  

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WHEREAS, Grantor desires to grant an easement in favor of Grantee over those portions of the real property and improvements owned by them, as more particularly identified in that certain sketch attached hereto and made a part hereof as Exhibit “A” (the “Easement Parcel”) for the purposes stated herein; and

 

WHEREAS, 2000 Landlord and 1830 Landlord desires to join in and consent to the Easement granted to Grantee herein and to acknowledge and confirm Grantee’s right to connect the IT Facilities to the buildings and property owned by each in connection with leases by and between each of the 2000 Landlord and Grantee and 1830 Landlord and Grantee; and

 

WHEREAS, Common Area Owner, is desirous of granting an easement over its property, in favor of the Grantee, and its successors and/or assigns, for purposes of installation, operation, maintenance, repair and replacement of certain underground and above ground cable wires, connections, relays, raceways and appurtenances for connection of internet and other technology facilities (“IT Facilities”) to, from and between 2000 Main Street, Weston, Florida, and/or 1830 Main Street, Weston, Florida, and/or 2000-2002 Ultimate Way, Weston, Florida within an area of ten (10) feet in width (the ‘‘Easement Parcel”), all as more particularly provided herein; and

 

WHEREAS, 2000 Landlord and 1830 Landlord each is desirous of joining in the Easement for the purposes stated herein and to confirm Grantee’s right to connect the IT Facilities located in the Easement to the premises leased by each landlord to Grantee, through, over and on the respective buildings and improvements owned by them; and

 

WHEREAS, this Easement is not perpetual, but rather shall be effective only for so long as Grantee, its successors and/or assigns, leases and/or owns at least two (2) of the premises located at 1830 Main Street, 2000 Main Street and/or 2000-2002 Ultimate Way, all located in Weston, Florida.

 

NOW THEREFORE, GRANTOR, in consideration of the sum of Ten ($10.00) Dollars, and other good and valuable consideration, the respective receipt and sufficiency of which is hereby acknowledged, does hereby agree as follows:

 

     1.  The above recitals are true and correct and incorporated herein by reference.

     2. Grantor does hereby declare and hereby grant to the Grantee, its successors and assigns, a non-exclusive easement for the installation, operation, maintenance, repair and replacement of certain underground and above ground cable wires, connections, relays, raceways and appurtenances for connection of internet and other technology facilities (“IT Facilities”) to, from and between 2000 Main Street, Weston, Florida, and/or 1830 Main Street, Weston, Florida, and/or 2000-2002 Ultimate Way, Weston, Florida within an area of ten (10) feet in width, in accordance with the plan attached hereto as Exhibit “A” on, over, under, across and above the Easement Parcel, for the benefit of Grantee; provided, however, no above ground IT Facilities shall be permitted except as shown on the construction plans to be prepared at the sole cost and expense of Grantee it being understood and agreed that the IT Facilities will enter each building above ground. Grantee, Grantor, 2000 Landlord and 1830 Landlord hereby agree that the attached plans shall identify and locate either (i) the in-field proposed easement parcel; or (ii) an as-built easement parcel identifying the exact location of the installed IT Facilities. In the event Exhibit “A” is not an as-built survey, the parties agree that this Easement can be re-recorded attaching a replacement Exhibit “A” which will be an as-built survey of the Easement Parcel, the re-recording cost to be paid by Grantee.

 

  

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3. Grantor and Grantee further agree that this Easement, and 2000 Landlord and 1830 Landlord each agree that Grantee’s right to connect the IT Facilities, as to the property, building and improvements owned by each, also includes the right to install, operate and maintain all IT Facilities as provided herein, associated pipes, facilities and all necessary appurtenances for the use and benefit of Grantee, together with the right of ingress and egress to Grantee and/or its employees or subcontractors for the purpose of installing, operating and maintaining the IT Facilities.

 

4. It is the intent of the parties that this Easement be hi full force and effect through the term of those certain leases, through and including all renewal option periods provided in said leases, as may be amended, by and between:

 

(i) Grantee, its successors and/or assigns, and 2000 Landlord as to the premises located at 2000 Main Street, Weston, Florida; and

 

(ii) Grantee, its successors and/or assigns, and 1830 Landlord as to the premises located at 1830 Main Street, Weston, Florida;

 

and that this Easement shall remain in full force and effect and shall not terminate so long as at least one of the referenced leases is still in full force and effect. This Easement shall automatically terminate once none of the referenced leases are in effect.

 

5. Anything to the contrary notwithstanding, Grantor hereby reserves all rights of ownership and control in and to those portions of the Easement Parcel owned by it, and which are not inconsistent with the foregoing easement, including, without limitation, the right to grant further easements on, over, under and/or across the Easement Parcel (i.e., utility and/or access easements or other or broader use rights), the right to improve the Easement Parcel (or any portions thereof), the right to use of all portions of the Easement Parcel not inconsistent with the use by Grantee, and the right to use the Easement Parcel for all uses not precluding or interfering with the uses permitted herein.

 

6. Grantee agrees to indemnify, defend and hold harmless the 2000 Landlord, 1830 Landlord and Common Area Owner from and against any cost, expense, liability, or judgment (including reasonable attorney fees) relating to any construction, maintenance and repair of those portions of the Easement Parcel owned by each of them, and necessitated as a result of the construction, installation and maintenance by Grantee of the IT Facilities in the Easement Parcel. Grantee shall also name each of the 2000 Landlord, the 1830 Landlord and the Common Area Owner as an additional insured on its general liability insurance in amounts and with other terms and conditions as set forth in the respective Leases. Notwithstanding anything contained herein to the contrary, in the event one of the leases is terminated, but the other remains in effect, then Grantee shall only be obligated to maintain the aforementioned general liability insurance for the remaining landlord and the Common Area Owner. Grantee acknowledges that the property owners are not able to advise or ascertain the location of other underground facilities or easements that the Easement Area may cross or that may need to be addressed by Grantee in the installation of the IT Facilities, and that Grantee accepts the Easement Area as is without representation or warranty whatsoever.

 

7. Upon termination of this Easement, 2000 Landlord, 1830 Landlord and Common Area Owner each hereby reserve the right to require Grantee to remove the IT Facilities from the portion of the Easement Parcel owned by them, and, to restore the Easement Parcel, any common area property, and any exterior portion of any building wherein the IT Facilities are run, at the sole cost and expense of Grantee. Upon written request, Grantee shall further prepare and record at its sole cost and expense appropriate legal documentation documenting the termination of this Easement.

 

8. Except as mandated by governmental requirements, this Easement may not be relocated, moved or modified in any manner whatsoever without the prior written consent of the Grantors, and the Grantee, which consent shall not be unreasonably withheld, conditioned or delayed. The cost of any such relocation shall be born by the party requesting the relocation.

  

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9. Grantors and Grantee further agree that the maintenance obligation for all IT Facilities constructed on the Easement Parcel and servicing the Grantee, shall be borne solely by Grantee. Grantee agrees that in connection with the installation and maintenance of the IT Facilities, Grantee shall have die obligation to repair any trenches or damage occasioned to the Easement Parcel or to any building, improvements, parking lot or pavement areas, or other improvement and to restore the property so damaged to substantially the same condition in which it existed prior to such damage caused by it at its sole cost and expense and to the reasonable satisfaction of such owner.

 

10. Grantors, on behalf of themselves and their respective successors and assigns, reserve the right to continued free use and enjoyment of the Easement Parcel as each had the right to prior to the Easement, for any purposes which are not inconsistent with die rights granted herein to Grantee.

 

11. This Easement shall be governed by and construed in accordance with the laws of the State of Florida. Venue for any action, litigation or proceeding arising out of or concerning this Easement shall be in Broward County, Florida and the parties expressly waive their right to venue elsewhere.

 

12. This Easement grant shall be given a reasonable construction so that the intention of the parties to confer a commercially usable right of enjoyment and use with respect to the Easement Parcel for Grantee, its successors and assigns, shall be carried out. The rule of strict construction shall not apply to this Easement grant. The joinder in this document by the 2000 Landlord, and the 1830 Landlord is not for the purpose of creating an casement on their respective properties but for the purposes of acknowledging the grant of this easement by the Grantor and to confirm the use of this easement in connection with leases between each of them as landlord and Grantee as tenant.

 

13. Notwithstanding anything to the contrary herein contained, this Easement may be terminated by the execution and recording of a document setting forth the dale and terms of such termination and executed by all of the then owners of the Easement Parcel and the Grantee, its successors and/or assigns.

 

14. This Easement shall be a covenant running with the land and shall be binding upon and inure to the benefit of the parties hereto and their respective successors and/or assigns, for the term set forth herein.

 

15. This Easement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.

 

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals the date and year first above written.

 

GRANTOR:

COMMON AREA OWNER

  

  

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Witness signature                          WESTON COMMON AREA, LLC,

Witness Print Name:____________                                                              

                                 a Florida limited liability company

 

 

 Witness signature

Witness Print Name:____________                   By:___________________________

                                Its:___________________________

                                                                           

                              (Corporate Seal)

 

 

 

STATE OF FLORIDA                                    )

                                             ):ss

COUNTY OF  ___________                                 )

 

       The foregoing instrument was acknowledged for before me this  ____     day of ___     , 2010, by ___      ,as ____       of  WESTON COMMON AREA, LLC, Florida limited liability company, personally known to me (_____) or who produced    ______ as indentification, and he acknowledged the execution thereof to be his free act and deed, on behalf of the company and for the uses and purposes therein mentioned and did/did not take an oath.

 

 

      WITNESS my hand and official seal in the country and state last aforesaid, this ____    day of ____    , 2010.

 

                     

                                                                     

 

     

                              NOTARY PUBLIC, State of Florida

 

 

                              Notary, Print Name

 

                                     My Commission Expires

                     

 

 

 

 

  

37

  

 

   IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals the date and year first above written.

 

 

 

 

____________________________                       GRANTEE:

 

Witness signature                             THE ULTIMATE SOFTWARE GROUP,

Witness Print Name:____________                       INC., doing business in Florida as US GROUP (DE) INC.

                                                   

                                    a Delaware corporation

 

 Witness signature

Witness Print Name:____________                       By:___________________________

                                    Its:___________________________

                                                                           

                                  (Corporate Seal)

 

 

 

STATE OF FLORIDA                                   )

                                           ):ss

COUNTY OF  ___________                                 )

 

       The foregoing instrument was acknowledged for before me this  ____     day of ___     , 2010, by ___      ,as ____       of  THE ULTIMATE SOFTWARE GROUP, INC, a Delaware corporation doing business in Florida as US GROUP (DE) INC., personally known to me (_____) or who produced    ______ as indentification, and he acknowledged the execution thereof to be his free act and deed, on behalf of the company and for the uses and purposes therein mentioned and did/did not take an oath.

 

 

      WITNESS my hand and official seal in the country and state last aforesaid, this ____    day of ____    , 2010.

 

                     

                                                                      

 

     

                             NOTARY PUBLIC, State of Florida

 

 

                              Notary, Print Name

 

                                     My Commission Expires

                     

 

 

 

  

38

  

 

 

 

 IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals the date and year first above written.

 

 

 

 

____________________________                      JOINED FOR THE PURPOSES STATED ABOVE:

 

Witness signature                             2000 LANDLORD

 

Witness Print Name:____________                       2000 MAIN STREET ASSOCIATES, LLC

                                                   

                                    a Delaware limited liability company  

 Witness signature

Witness Print Name:____________                       By:___________________________

                                    Its:___________________________

                                                                           

                                      (Corporate Seal)

 

 

 

STATE OF FLORIDA                                    )

                                            ):ss

COUNTY OF  ___________                                 )

 

       The foregoing instrument was acknowledged for before me this  ____     day of ___     , 2010, by ___      ,as ____       of  2000 MAIN STREET ASSOCIATES, LLC, a Delaware limited liability company, personally known to me (_____) or who produced    ______ as indentification, and he acknowledged the execution thereof to be his free act and deed, on behalf of the company and for the uses and purposes therein mentioned and did/did not take an oath.

 

 

      WITNESS my hand and official seal in the country and state last aforesaid, this ____    day of ____    , 2010.

 

                     

                                                                      

     

                                NOTARY PUBLIC, State of Florida

 

 

                               Notary, Print Name

 

                                      My Commission Expires

                     

 

  

39

  

 IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals the date and year first above written.

 

 

 

 

____________________________                JOINED FOR THE PURPOSES STATED ABOVE:

 

Witness signature                       1830 LANDLORD

 

Witness Print Name:____________                 MICARI HOLDINGS, LLC

                                                   

                              a Florida limited liability company  

 Witness signature

Witness Print Name:____________                By:___________________________

                             Its:___________________________

                                                                           

                             (Corporate Seal)

 

 

 

STATE OF FLORIDA                                   )

                                           ):ss

COUNTY OF  ___________                                 )

 

       The foregoing instrument was acknowledged for before me this  ____     day of ___     , 2010, by ___      ,as ____       of  MICARI HOLDINGS, LLC, a Delaware limited liability company, personally known to me (_____) or who produced    ______ as indentification, and he acknowledged the execution thereof to be his free act and deed, on behalf of the company and for the uses and purposes therein mentioned and did/did not take an oath.

 

 

      WITNESS my hand and official seal in the country and state last aforesaid, this ____    day of ____    , 2010.

 

                     

                                                                      

     

                             NOTARY PUBLIC, State of Florida

 

 

                             Notary, Print Name

 

                                    My Commission Expires

 

 

 

 

  

40

  

  

                              EXHIBIT "A"

                                    

                                                            

                            EASEMENT PARCEL

 

                              Legal and Sketch

 

  

41exhibit_10-55.htm

LEASE AGREEMENT

THIS LEASE AGREEMENT (“Lease”) is made and entered into on this 5th day of November 2010 by and between Micari Holdings, LLC, a limited liability company organized and existing under the laws of the State of Florida (hereinafter referred to as the “Landlord”), and The Ultimate Software Group, Inc., a corporation organized and existing under the laws of the State of Delaware, (hereafter referred to as the “Tenant”).

WITNESSETH:

IN CONSIDERATION of the payment of rents and other charges provided for herein and the covenants and conditions hereinafter set forth, Landlord and Tenant hereby covenant and agree as follows;

ARTICLE 1

DEMISED PREMISES

1.1      Landlord is fee simple owner of the Property and hereby leases to Tenant and Tenant hereby rents from Landlord the following described premises to wit: the entire interior of the office building, [other than that area known as Suite 204 (“Suite 204”) deemed to consist of 2,000 rentable square feet,] located at 1830 Main Street in the City of Weston, County of Broward, State of Florida, hereinafter referred to as the Premises, consisting of what the parties have deemed to be 8,000 rentable square feet, as is more particularly described or depicted on the attached Exhibit “A” (“Premises” or “Demised Premises”). The building in which the Premises are located, and the real property on which the building is located, are hereinafter referred to as the “Property”.

Landlord and Tenant hereby acknowledge that Suite 204 is currently subject to a lease with a third party, and agree that upon expiration or other termination of said lease, which shall in no event be later than two (2) years from March 1, 2011, Tenant agrees to rent the Suite 204 space after written notice by Landlord to Tenant advising that the Suite 204 space is available, and giving Tenant the right to reject the leasing of the Suite 204 space upon ten (10) days written notice by Tenant to Landlord. Should Tenant not reject the Suite 204 space, then the lease of same shall be upon the same terms and conditions, and at a monthly rate equivalent to the per square foot rate of the then current Monthly Rent for the Demised Premises. Such leasing of Suite 204 shall be evidenced by way of written acknowledgement confirming that Suite 204 shall thereafter be deemed part of the Demised Premises, setting forth the re-calculated Monthly Rent, which the parties hereby acknowledge will be calculated based upon 10,000 square feet, and confirming that all other terms and provisions of this Lease, including but not limited to termination date and any right of option to renew by Tenant, shall remain unchanged and in full force and effect.

1.2 The Premises are demised and let subject to the following:

(a) the existing state of the title to the Premises and the real property upon which the same are situated;

(b) all zoning, restrictions, rules and ordinances, building or use restrictions, and other laws and regulations now in effect or hereafter adopted by any governmental authority having jurisdiction thereof. Landlord has not made and does not make any representations or warranties with respect to the condition of the Premises or their fitness or suitability for any particular use; and

(c) the additional terms and conditions hereof.

ARTICLE 2

TERM OF LEASE

2.1      Tenant is to have and hold the Premises for a term of sixty (60) months, commencing on March 1, 2011 (the “Commencement Date”) and terminating at midnight on February 29, 2016, according to the terms and conditions as set forth herein. The Term of Lease may be extended pursuant to the options to renew as set forth in Article 34 below. In the event that the Lease is renewed in accordance with Article 34, the Lease will be deemed to terminate at midnight on the last day of the extended lease term.

2.2      Tenant shall be permitted to occupy the Premises as of the date of execution of this Lease and prior to the Commencement Date for all permitted uses of the Property, subject to the conditions set forth below:

i. Tenant has paid the Security Deposit pursuant to paragraph 25

ii. Tenant has paid first and last month’s rent pursuant to paragraph 3.4

iii. Tenant has obtained insurance as required pursuant to paragraphs 16.2 and 9.3(4)

  

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ARTICLE 3

RENT

3.1 Tenant hereby covenants and agrees to pay the total sum of $1,182,924.85 (which amount may be adjusted pursuant to Section 1.1 if and when Suite 204 becomes a part of the Demised Premises) as Rent to Landlord, together with any Additional Rent as described hereunder, including all sales taxes and, use taxes. The Rent shall be paid in monthly installments in the amounts set forth in paragraph 3.3, below (the “Rent”), plus sales tax, in advance and beginning on the Commencement Date of this Lease and on the first day of each and every month thereafter. All payments to Landlord hereunder shall be paid to Landlord at the address of Landlord as listed in Paragraph 24.1 or such other place as the Landlord may designate in writing from time to time, and shall be without setoff or deduction whatsoever. No payment by Tenant or receipt by Landlord of a lesser amount than any installment or payment due shall be deemed to be other than on account of the amount due, and no endorsement or statement on any check or payment shall be deemed an accord and satisfaction. Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such installment or payment or pursue any other remedies available to Landlord. Landlord and Tenant hereby acknowledge that this is a gross lease and Tenant is not liable for, and Rent shall not be deemed to include, any charges, fees or expenses for or against the Property, or payable by Landlord regarding or relating to the Property, including but not limited to insurance (other than as required to be provided by Tenant in Article 16 herein), real property taxes, assessments, maintenance, or any common area charges whatsoever.

3.2 In the event the term of this Lease commences on a day other than the first day of the month, Tenant shall pay the Monthly Rent provided herein prorated for such fractional month on the basis of a thirty (30) day calendar month. Notwithstanding anything contained herein to the contrary, no Rent or Additional Rent is due or accrues prior to March 1, 2011. In the event any installment of Monthly Rent, Additional Rent as hereinafter provided, or other charges payable by Tenant hereunder are not paid when due, a late charge as provided in Paragraph 35.8, shall be included as outstanding rent due and owing.

3.3 Notwithstanding that the parties have deemed the Premises to be 8,000 of rentable square feet, the Monthly Rent shall be based upon a calculation of 7,800 square feet, with the initial year at $28.00 per square foot. The Monthly Rent for each twelve (12) month period during the term of the Lease shall be as follows:

March 1st, 2011 through February 29, 2012, $18,200.00 per month, plus sales tax.

March 1st, 2012 through February 28, 2013, $18,928.00 per month, plus sales tax.

March 1st, 2013 through February 28, 2014, $19,685.12 per month, plus sales tax.

March 1st, 2014 through February 28, 2015, $20,472.52, per month, plus sales tax.

March 1st, 2015 through February 29, 2016, $21,291.43 per month, plus sales tax.

3.4           Landlord hereby acknowledges receipt from Tenant of $55,692.00, said sum representing payment of the first installment of Monthly Rent hereunder, inclusive of sales tax (i.e.: $19,292.00), together with an additional $18,200.00 which will be held by Landlord and applied toward the last Monthly Rent, plus the Security Deposit pursuant to paragraph 25 herein (i.e. $18,200.00). When the last Monthly Rent payment is due, Tenant shall pay Landlord the appropriate amount which when added to the $18,200.00 already paid to Landlord will be sufficient to fully pay the last Monthly Rent including sales tax.

3.5      Tenant and Landlord hereby acknowledge and agree that the Rent agreed to herein is not based on a strict calculation of square footage area times the square foot rate; rather, the Base Rent agreed to herein is based on a combination of factors, including, without limitation, length of the Lease, location of the Premises, finish-out requirements, approximate size of the Premises, financial capacity of the Tenant, general market conditions at the time of execution of the Lease, and numerous other factors.

ARTICLE 4

Intentionally omitted

ARTICLE 5

SALES TAXES, USE TAXES, OTHER TAXES, AND OTHER CHARGES

5.1      Tenant shall pay before delinquency all personal property taxes and assessments on the furniture, fixtures, equipment, and other property of Tenant located in the Premises and on additions and improvements in the Premises belonging to Tenant. Tenant shall also pay, as Additional Rent, all sales tax assessed against the rent stated herein by governmental authority, concurrently with payment of the Rent.

  

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ARTICLE 6

SERVICES TO BE FURNISHED AND EASEMENT

6.1 Electric current is available at the Premises, but separately metered and at Tenant’s sole expense. Tenant shall be solely responsible for opening and maintaining an account for electricity with the publicly regulated utility company that provides electrical service for the Property (currently Florida Power and Light) upon Tenant’s occupancy of the Premises. Tenant shall be solely responsible to pay for electricity necessary to operate within the Premises, including electrical power for heat, ventilation, and air conditioning (HVAC) and to operate the elevator(s). Tenant shall have access to the Premises 7 days a week, 24 hours a day, 365 days a year, subject only to Force Majeure as set forth in paragraph 35.16.

6.2 Other than the furnishing of cables, optics and other appurtenances for internet and other communication from 2000 Main Street and/or 2000-2002 Ultimate Way, Weston, FL (the “Information Technology Facilities”), Tenant will not bring electric or plumbing into the premises, and will not install or operate any electric equipment or other machinery except light office machines (such as computers, printers, copiers, facsimile machines, typewriters and adding machines) without first obtaining the consent in writing of the Landlord, who may condition such consent upon the payment by Tenant of Additional Rent.

6.3 Landlord shall supply and be responsible for payment of all water and sewer costs to the Premises. It is understood that the electricity and water to be supplied by Landlord under utilities referenced in this paragraph will not be generated by Landlord, but will be obtained from a public utility company supplying same, and it is therefore agreed that Landlord shall in no event be liable or responsible to Tenant for any loss, damage or expense which Tenant may sustain or incur if either the quantity or character of electric current and/or water the utility shall be changed by the public utility company, nor shall Landlord be responsible for any failure on the part of such applicable public utility company to furnish any of such services during any period 1) wherein Tenant shall be in default in the payment of rent, or 2) in which Landlord is current in its payments (if any) to such public utility company.

6.4      Landlord hereby agrees to grant to Tenant, or to join in the execution of, a non-exclusive easement on, over, across, through and below the building and the Property for the installation, operation, repair and replacement of private cables, optics, wires, raceways, relays, and all necessary appurtenances for the furnishing of information and internet communication connections, and networking (“Information Technology Facilities”) to run from, and facilitate hookup and connection between, the Premises and that certain property located at 2000 Main Street, Weston, Florida, and/or 2000 Ultimate Way, Weston, Florida (“Easement”). Landlord hereby grants to Tenant the right to connect the Information Technology Facilities from the Easement area to the Property, which right shall be a leasehold appurtenance, and which right shall continue in full force and effect for so long as this Lease, together with any exercised option term, is in effect. The Easement shall be in recordable form and shall be in substantially the form and substance as attached hereto as Exhibit “B” (“Easement Agreement”). The Easement Agreement shall be executed by Landlord at the time of execution of this Lease, and thereafter recorded in the Public Records of Broward County, Florida. The Easement Agreement shall be for a term to be commensurate with the Term of this Lease, together with any exercised Option Term, and/or the term of Tenant’s lease of premises located at 2000 Main Street, Weston, Florida. Failure of Landlord to execute the Easement Agreement and cooperate with Tenant in good faith shall constitute a default in this Lease by Landlord. In addition to the joinder in the execution of the Easement Agreement, Landlord hereby agrees to reasonably cooperate with Tenant and its contractor(s) in their construction and installation of the Information Technology Facilities within the Easement so as to not cause harm to, or delay of, the installation of same; and further to take all actions reasonably requested by Tenant in connection with the Easement and Tenant’s installation of the Information Technology Facilities, including but not limited to execution of additional easements, any permits, or other documentation which may be reasonably requested or required of them in order to accomplish the installation of same. Tenant shall pay all costs associated with the Easement including, without limitation, survey costs, engineering fees, legal fees, and any and all costs incurred in running the Information Technology Facilities, to the Premises and 2000 Main Street, Weston, Florida, and/or 2000-2002 Ultimate Way, Weston, Florida, including without limitation, construction costs, construction plans, engineering fees, and permit fees.

The Easement and the Information Technology Facilities shall be designed and installed so as to minimize any interference with the use of the Building and Premises and shall be consistent with the aesthetic standards and appearance of the Building and Premises. At such time as Tenant vacates the Premises, Landlord may elect to keep the Information Technology Facilities or require Tenant to remove same and repair and restore the Building and Premises to its condition before such Information Technology Facilities were installed.

  

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ARTICLE 7

USE OF PREMISES

7.1 Subject to and in accordance with all rules, laws, ordinances, statutes and requirements of all governmental authorities and the Fire Insurance Rating Organization and Board of Fire Insurance Underwriters, and any similar bodies having jurisdiction thereof, Tenant shall operate its business in the Premises during the term of this Lease under the name “Ultimate Software” and the Premises shall be occupied and used for the sole purpose of general office associated with software development, technology services, and customer support and training, and for no other purpose without the Landlord’s prior written consent.

7.2 Tenant shall not abandon or leave vacant the Premises, and shall not permit the use or occupancy of the Premises by any party other than Tenant, its agents, employees and invitees.

7.3 Tenant shall comply with all rules and regulations pertaining to Tenant’s use and occupancy of the Premises copies of which are attached hereto as Exhibit “C” (“Rules and Regulations”), as may be reasonably amended from time to time, which Rules and Regulations and any amendments thereto shall not materially interfere with Tenant’s use of the Premises or its business.

7.4      Tenant acknowledges that the Premises are subject use restrictions as set forth in those certain Restrictive Covenants and Conditions set forth in the public records of Broward County, Florida in official records book 31126, page 1880 through 1891 (the “Use Restrictions”). These Use Restrictions include, but are not limited to, prohibitions against the use of the Premises for (i) real estate brokerage activities, (ii) mortgage brokerage activities, (iii) insurance sales activities, including, without limitation, title insurance sales activities, (iv) retail sales, (v) medical facilities, or (VI) operating a State Farm Insurance Agency.

 

 

ARTICLE 8

MAINTENANCE OF DEMISED PREMISES

8.1 Landlord shall keep and maintain the HVAC system, the roof over the Premises and the structural portions of the exterior walls, all common hallways, parking areas, and any other common areas of the Property in good repair, provided that Tenant shall give Landlord prior notice of the necessity for such repairs and further provided that any damage thereto shall not have been caused by any act or negligence of Tenant, its employees, agents, invitees, subtenants, assignees or contractors, in which event such damage shall be promptly repaired by Tenant. Other than for Landlord’s negligent acts or omissions, in no event shall Landlord be liable for damages, or for lost business, or for injuries to person(s) or property arising from the Landlord’s failure to make such repairs, nor shall Landlord be liable for damages, for lost business, or for injuries to person(s) or property arising from defective workmanship or materials used in making such repairs. Except as specifically provided herein, Landlord shall not be responsible for any maintenance repairs or the making of any improvements of any kind in or upon the Premises.

8.2 Tenant shall keep and maintain in good order, condition, and repair (which repair shall mean replace if necessary) the Premises and every part thereof, except as hereinbefore provided, including, without limitation, the exterior and interior portions of all doors, door checks, windows, glass, utility facilities, plumbing and sewage facilities within the Premises, interior walls, floors, and ceilings, including painting and carpeting, and all interior improvements, and shall, at all times, comply with applicable building codes. If Tenant refuses or neglects to commence or complete any of the obligations above set forth promptly and adequately within ten (10) days after notice from Landlord, Landlord may, but shall not be required to do so, make or complete said maintenance or repairs and Tenant shall pay the cost thereof to Landlord upon demand, said cost to be considered as Additional Rent hereunder.

  

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ARTICLE 9

INSTALLATIONS AND ALTERATIONS

9.1 Tenant, by occupancy hereunder, accepts the Premises as being in good repair and condition, and “AS IS”. Tenant shall maintain the Premises and every part thereof in good repair and condition, reasonable use, ordinary decay and wear and tear excepted.

9.2 Subject to the provisions of Section 9.5 below, Tenant shall not make or suffer to be made any alterations, additions or improvements to or of the Premises or any part thereof (“Tenant Improvements”) without prior written consent of Landlord, which consent is hereby given as to Tenant Improvements set forth in Exhibit “B”, and which consent the Landlord covenants and agrees shall not be unreasonably withheld. In the event Landlord consents to the proposed alterations, additions or improvements, the same shall be at Tenant’s sole cost and expense; shall be in accordance with all applicable laws, ordinances, codes, and regulations; shall be in accordance with plans and specifications which Tenant shall submit to Landlord at the time of Tenant’s request for Landlord’s written consent; and Tenant shall hold Landlord harmless on account of the cost thereof. Any such alterations shall be made at such times and in such manner as not to interfere unreasonably with the occupation, use and enjoyment of the remainder of the Property by the other tenants thereof. If required by Landlord, such alterations shall be removed by Tenant upon the termination or sooner expiration of the term of this Lease and Tenant shall repair damage to the premises caused by such removal, all at Tenant’s cost and expense. Landlord may withhold its approval and/or consent to any alteration, addition, and/or improvement that does not comply with any applicable laws, ordinances, codes, and/or regulations (including, without limitation, the Americans with Disabilities Act and all regulations issued thereunder), or that requires other alteration(s), addition(s), and/or improvement(s) to the Premises or the Property to comply with applicable laws, ordinances, codes, and/or regulations.

9.3 In no event shall Landlord be required to (i) compensate Tenant for alterations, additions, improvements or partitions erected by Tenant on or within the Premises, or (ii) compensate Tenant for equipment and trade fixtures installed by Tenant on or within the Premises and which are not removed by Tenant at Lease termination or early vacation or the Premises by Tenant. Prior to commencing any work in excess of $5,000.00 in, on or about the Premises, Building or Property, Tenant shall:

 

	
(1)  

	
Notice of Commencement. File a Notice of Commencement with Broward County and provide Landlord with a copy of same;

 

	
(2)  

	
Subcontracts. Enter into a contract with its contractor and/or other persons who will do the work and install the equipment referred to, which contract will provide, among other things, that said work shall be done and equipment installed in a good workmanlike manner in accordance with the plans and specifications previously approved and consents, authorizations, and licenses previously obtained and which contract shall provide that the contractor, subcontractor, or other person referred to above will look solely to Tenant for payment and will hold Landlord and the Premises free from all liens and claims of all persons furnishing labor or materials therefor, and will also provide that similar waivers of the rights to file liens shall be obtained from any and all said contractors or materialmen.

 

	
(3)  

	
Indemnification. Indemnify and save Landlord harmless against any and all bills for labor performed and equipment, fixture, and materials furnished to Tenant in connection with said work as aforesaid and against any and all liens, bills or claims therefore or against the Premises and from and against all loss, damages, costs, expenses, suits, claims, and demands related to such work.

 

	
(4)  

	
Insurance. Tenant and/or all contractors which Tenant employs shall procure and maintain at Tenant’s and/or Tenant’s contractors’ own cost and expense insurance against claims under Workman Compensation Acts with limits of $100,000.00 for Employers Liability Insurance.

 

	
(5)  

	
Inspections. Landlord shall have the right to inspect the job during the course of construction, at Landlord’s expense, for the purpose of making inspections and insuring that Tenant and Tenant’s contractors, suppliers, and materialman comply with these conditions. However in no event shall Landlord’s inspectors interfere with, or delay Tenant’s Improvements and Landlord shall be liable for any damage occasioned as a result of such interference or delay.

  

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9.4 Impact Fees. In the event Tenant’s alterations to the Premises cause the City of Weston to assess impact fees, Tenant shall be solely responsible for paying same. (In particular, Tenant acknowledges that the addition of plumbing fixtures may result in water and sewer impact fees being assessed by the City and that such fees shall be Tenant’s sole responsibility to pay.

9.5 Landlord Approved Tenant Improvements. Tenant proposes to construct, and Landlord by executing this Lease hereby approves the Tenant Improvements more fully set forth on Exhibit “B” attached hereto and to be made to Suite 204 in the future in the event Tenant leases same pursuant to Section 1.1_herein. Moreover, notwithstanding the provisions of Section 9.2 above, the Landlord Approved Tenant Improvements set forth on Exhibit “D”, once constructed, shall not be subject to Landlord’s request for removal, upon the expiration or earlier termination of the Lease.

ARTICLE 10

LEGAL USE, REGULATIONS AND VIOLATIONS OF INSURANCE COVERAGE

10.1 Tenant (a) shall occupy and use the Premises during the term and for the purpose above specified and none other; (b) shall not exhibit, sell or offer for sale on the Premises or on the Property any article or thing whatsoever (except those articles and things essentially connected with the stated use of the Premises) without the advance written consent of the Landlord; (c) shall not make nor permit any use of the Premises which, directly or indirectly, is forbidden by public law, ordinance or governmental regulation, Use Restrictions, or which may be dangerous to life, limb or property, or which may invalidate or increase the premium cost of any policy of insurance carried on the Property or covering its operation, or which may constitute a nuisance; and (d) shall comply with the Landlord’s Rules and Regulations currently in existence, and such other Rules and Regulations as the Landlord may hereafter adopt and make known to the Tenant by notice. In addition to all other liabilities for breach of any covenant of this paragraph, the Tenant shall pay to the Landlord an amount equal to the increased cost of insurance or damage. Tenant waives any claim against Landlord for any expenses or damage resulting from compliance with any of the said Rules and, Regulations, Use Restrictions, law or orders except if same is caused by Landlord.

10.2 Tenant recognizes that the Premises are subject to that certain Declaration of Covenants for Weston Town Center, as recorded in the public records of Broward County Florida, in official record book 30249 at page 1592, and all amendments thereto (“Weston Town Center Covenants”). Tenant’s rights, obligations, and restrictions under this Lease are subject to said Weston Town Center Covenants.

10.2           Landlord shall have the right to determine and prescribe the weight and property position of any unusually heavy equipment including safes, large files, etc., and to limit, restrict or exclude such equipment as well as other equipment and machinery which, in Landlord’s opinion, are unusually noisy or create unusual vibrations, or give off noxious odors. Landlord may also limit, restrict, or exclude medical and/or specimen pick up boxes, if applicable. Any damage occasioned in connection with the moving or installing of such aforementioned articles on the Property or the Premises or by reason of the existence of the same on the Property or the Premises shall be paid for by Tenant.

Article 11

(INTENTIONALLY OMITTED)

ARTICLE 12

TELECOMMUNICATIONS PROVIDERS

12.1 Tenant shall be responsible for obtaining its own telephone and telecommunications services at its sole cost and expense.

ARTICLE 13

MECHANIC’S LIEN OR CLAIMS

13.1 Tenant shall not permit to be created nor to remain undischarged any lien, encumbrance, or charge arising out of any work performed at the request or direction of Tenant, of any contractor, mechanic, laborer or materialtnan which might be or become a lien, notice or intention of a lien, encumbrance or charge upon the Premises or the Property or the income there from. If any lien or notice of intention or notice of lien on account of an alleged debt of Tenant or any notice of contract by a party engaged by Tenant or Tenant’s contractor to work in the Premises or on the Property is filed, Tenant shall, within ten (10) days after notice of the filing thereof, cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien or notice of lien or other document to be discharged within the period provided, the Landlord, in addition to any other rights or remedies, may, but shall not be obligated to, discharge the same by procuring the discharge of such lien by deposit or by bonding proceedings. Any amount paid by Landlord and all costs and expenses, including attorney fees, incurred by Landlord in connection therewith, together with interest thereon at the maximum legal rate from the respective dates of Landlord’s making of the payment or incurring of the cost and expense, shall be paid by Tenant to Landlord immediately on demand. All such sums shall be considered Additional Rent hereunder. Nothing in this Lease shall be construed as in any way constituting a consent or request by Landlord, expressed or implied, by inference or otherwise, to any contractor, laborer, or materialman for the performance of any labor or the furnishing of materials for any specific or general improvement, alteration, or repair of or to the Premises or to any buildings or improvements thereof, or to any part thereof.

  

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ARTICLE 14

DESTRUCTION AND RESTORATION

14.1 In the event the Premises or the Property shall be damaged or destroyed by fire or other casualty, to the extent that the cost of repairing or replacing the same will equal or exceed fifty percent (50%) of the then replacement value thereof, the Landlord may, at its option, within sixty (60) days after the occurrence of such casualty, terminate this Lease upon written notice to the Tenant.

14.2 In the event the Premises or the Property shall be damaged or destroyed by fire or other casualty, to the extent that the cost of repairing or replacing the same will not equal or exceed fifty percent (50%) of the then replacement value thereof, or in the event Landlord does not elect to terminate this Lease as provided in Article 14.1 above, then Landlord shall repair the damage with reasonable dispatch after notice of such casualty, provided, however, the Landlord’s obligation to repair or restore shall be limited to restoring the structural portions of the Premises and shall not include repairs or the restoration of any of the Tenant’s fixtures, improvements or other alterations made by Tenant in or upon the Premises; provided, further, however, in the event such damage or destruction occurs during the last two (2) years of the term hereof, the Landlord shall have the option, to be exercised by notice to Tenant within ninety (90) days after the occurrence of any casualty, either to rebuild or to terminate this Lease. Notwithstanding anything provided herein to the contrary, the Landlord’s obligation to repair or to rebuild shall be limited to the amount of the insurance proceeds received by Landlord (less any costs incurred by Landlord in collecting the same) and if such amount is insufficient to rebuild the Premises, then Landlord shall have the option to terminate the Lease upon notice to Tenant within ninety (90) days after Landlord’s receipt of the entire net insurance proceeds payable with respect to such fire or casualty.

14.3 In the event this Lease is terminated in the manner set forth in this Article 14, the Rent, including Additional Rent, shall be apportioned to the time of such casualty. In the event this Lease is not terminated and Landlord elects to restore or repair the Premises, then the Rent payable by Tenant hereunder shall be equitably abated based on the approximate portion of the Premises which is usable, until such time as the damage to the Premises has been repaired.

14.4 In addition to all other payments, the Tenant shall pay to Landlord any loss deductible amount which may be payable by Landlord under its fire and casualty insurance policies in connection with any loss in or about the Premises, regardless of whether such loss was caused or occasioned by the negligence of Tenant, its agents, employees or sureties, unless such loss was caused or occasioned solely by the Landlord, its agents or employees.

Notwithstanding anything herein to the contrary, should Landlord elect to repair or replace the damaged Premises or Property, and Landlord fails to deliver the Premises as restored, within 240 days of the occurrence of the casualty, then Tenant shall have the right to terminate this Lease upon giving Landlord thirty (30) days notice to terminate.

ARTICLE 15

EMINENT DOMAIN

15.1           In the event during the term of the Lease the Premises, or any part thereof, or the Property, or any part thereof, are taken by condemnation or right of eminent domain, or by private purchase in lieu thereof, this Lease and the term hereby granted shall be terminable at the option of Landlord or Tenant and if Landlord so terminates then this Lease shall expire on the date when possession shall be taken by the condemnor or purchaser in lieu thereof and the rent herein reserved shall be apportioned and paid in full to that date and all prepaid rent shall forthwith be repaid by the Landlord to the Tenant. In the event neither Landlord nor Tenant elects to cancel or terminate this Lease as provided above, then the Landlord shall rebuild and restore the Premises as nearly as possible to their condition immediately prior to any such taking and this Lease shall continue in full force and effect except that, during such restoration, the rent payable hereunder shall be equitably apportioned in the proportion that the approximate square footage of the part of the Premises so taken bears to the total approximate square footage of the Premises immediately prior to such taking.

15.2           All compensation awarded or paid upon any total or partial taking of the Premises shall belong to and be the property of Landlord.

  

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ARTICLE 16

INDEMNIFICATION AND INSURANCE

16.1 The Landlord shall not be liable for any damage or injury to any person or property, whether it be the person or property of the Tenant, the Tenant’s employees, agents, guests, invitees, or otherwise, by reason of Tenant’s occupancy of the Premises or because of fire, flood, windstorm, acts of God or for any other reason other than as a result of Landlord’s negligent or willful act, and in no event shall Landlord be liable for consequential damages of any kind suffered by Tenant or third parties. The Tenant agrees to indemnify and save harmless the Landlord from and against any and all loss, damage, claim, demand, liability or expense by reason of damage to person or property which may arise or be claimed to have arisen as a result of the occupancy or use of said Premises by the Tenant or by reason thereof or in connection therewith, or in any way arising on account of any injury or damage caused to any person or property on or in the Premises.

16.2 Tenant, at its expense, shall maintain at all times during the term of this Lease (i) public commercial general liability insurance with respect to the Premises, and the conduct or operation of the business therein, protecting Landlord and Tenant against any and all claims for injury and damage to persons or property or for the loss of life or property occurring in, on or about the Premises, arising out of the act, negligence, omission, nonfeasance or malfeasance of Tenant, its employees, agents, contractors, customers, licensees and invitees, with such insurance carrying minimum policy limits of not less than One Million Dollars ($1,000,000.00) for bodily injury or death to any one person or any number of persons in any one occurrence and not less than Two Million Dollars ($2,000,000.00) for bodily injury or death to more than one person in any one occurrence, and not less than One Million Dollars ($1,000,000.00) for property damage, and (ii) fire and casualty insurance (including coverage for windstorm and hurricane damage and losses) with respect to the Premises and all improvements thereon, with such insurance carrying minimum policy limits of not less than One Million Dollars ($1,000,000.00) at replacement cost. Tenant’s liability insurance shall, in addition, extend to any contractual liability of Tenant hereunder, including that arising out of the indemnities provided in this Lease. If the nature of Tenant’s operation is such as to place any or all of its employees under the coverage of local worker’s compensation or similar statutes, Tenant shall also keep in force, at its own expense, worker’s compensation or similar insurance affording statutory coverage and containing statutory limits. Landlord shall be named additional insured on all policies required hereby. Tenant shall deliver to Landlord and any additional named insured, at Landlord’s request and at any time (including prior to the Commencement Date), such fully paid for original policies or certificates of insurance, in form satisfactory to Landlord, issued by the insurance company or by its authorized agent. Tenant shall procure and pay for renewals of such insurance from time to time before the expiration thereof and, at Landlord’s request, deliver to Landlord (and any additional named insured) such renewal policy or certificate thereof. All such policies shall be issued by companies of recognized responsibility licensed to do business in the State of Florida and all such policies shall contain a provision whereby the same cannot be canceled or modified unless Landlord and any additional named insured are given at least thirty (30) days’ prior written notice of such cancellation or modification.

16.3 Landlord’s Indemnity. Landlord shall indemnify, defend and hold Tenant harmless from and against all loss, claim, demand, damage, liability or expense, including reasonable attorneys’ fees and costs, resulting from any injury to or death of any person or any loss of or damage to any property caused by or resulting from any negligent or willful act or omission of Landlord or any officer, employee, agent, contractor or licensee of Landlord in or about the Premises, or the Property. In no event shall Landlord be liable for consequential damages of any kind suffered by Tenant or third parties. The foregoing provision shall not be construed to make Landlord responsible for loss, damage, liability or expense resulting from injuries to third parties caused by any act, omission or negligence of Tenant or of any officer, employee, agent contractor, invitee or visitor of Tenant.

  

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ARTICLE 17

ESTOPPEL CERTIFICATE, ATTORNMENT AND SUBORDINATION

17.1 Within ten (10) days after written request by Landlord, Tenant shall deliver to Landlord a written acknowledged statement certifying the Tenant has accepted possession of the Premises, that this Lease is unmodified and in full force and effect (or, if there have been modifications, that the same is in full force and effect as modified and stating the modifications), such other factual matter as may be requested by Landlord, and the dates to which the rent and other charges have been paid in advance, if any, it being intended that any such statement delivered pursuant to this Article may be relied upon by any prospective purchaser or mortgagee of the Property or any portion thereof.

17.2 Upon request of Landlord, the holder of any mortgage on the Property, or any purchaser of the Property, Tenant shall attorn to any purchaser or mortgagee of the Property upon any sale or mortgage of same, shall recognize such purchaser or mortgagee as Landlord under this Lease, and shall execute any and all documents or instruments which may be reasonably requested by the purchaser or mortgagee of the fee of the Property of which the Premises form a part.

17.3 This Lease and the Tenant’s rights hereunder are and shall always be subject and subordinate to the lien of any mortgage or mortgages now or hereafter placed upon the land and buildings of the Property of which the Premises form a part, and to all advances hereafter made from time to time upon the security thereof. Landlord and Tenant agree that this Lease be and hereby is made subject and subordinate at all times to all ground and underlying leases which may now or hereinafter affect the Property of which the Premises form a part. The term “mortgages” as used herein shall be deemed to include trust indentures and deeds of trust and includes all renewals, modifications, consolidations, participations, replacements and extensions thereof. Nevertheless, the aforesaid provisions shall be self-operative and no further instrument of subordination shall be required by any such Landlord or mortgagee. In the event Landlord or any Landlord under any ground lease or any mortgagee desires confirmation or other documentation of such subordination, Tenant shall execute promptly any certificate that Landlord may request.

17.4 Tenant, upon written request of any party in interest, shall execute promptly such instruments and certificates as needed to carry out the intent of paragraphs 17.1, 17.2, and 17.3, above.

17.5 This Lease shall not be recorded without the prior written consent of Landlord. Any recordation of this Lease without such prior written consent shall be deemed a default hereof.

  

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ARTICLE 18

PROPERTY IN DEMISED PREMISES

18.1           All of Tenant’s personal property of every kind or description which may at any time be in the Premises shall be at Tenant’s sole risk, or at the risk of those claiming under Tenant. The Landlord shall not be liable for any damage to said property or loss of business suffered by Tenant which may be caused by or from any source whatsoever, including the bursting, overflowing or leaking of sewer or steam pipes from the heating or plumbing fixtures, or from electric wires, or from gas or odor, or from any acts or omissions of persons or entities, or from any other cause whatsoever, unless caused by Landlord’s negligence.

18.2           The Tenant hereby pledges and assigns to the Landlord all the furniture, fixtures, goods, and chattels of said Tenant, which shall or may be brought or put on said Premises as security for the payment of the rent herein reserved, and the Tenant agrees that the said lien may be enforced by distress foreclosure or otherwise at the election of the said Landlord.

ARTICLE 19

ACCESS TO DEMISED PREMISES

19.1           Tenant shall permit Landlord or Landlord’s agents to inspect or examine the Premises at any reasonable time, upon reasonable advance written notice to Tenant, in no event less than forty-eight (48) hours, and at any time in emergencies, and shall permit Landlord to enter and make such repairs, alterations, improvements or additions in the Premises, or to the building of which the Premises are a part, that Landlord may deem desirable or necessary or which Tenant has covenanted herein to do and has failed to do, and the rent shall in no manner abate while such repairs, alterations, improvements or additions are being made by reason of loss or interruption of the business of Tenant because of the prosecution of such work.

ARTICLE 20

ASSIGNMENT

20.1 Tenant shall not, by operation of law or otherwise, assign this Lease or sublet all or any part of the Premises without the prior written consent of Landlord, which consent may be withheld by Landlord for any reason whatsoever. Notwithstanding anything contained herein to the contrary, Landlord’s consent shall not be required in the event of assignment to an affiliate of Tenant or as a result of any merger, consolidation, sale of all or substantially all of the assets of Tenant, or the sale or other transfer of a controlling percentage (70% or more) of the capital stock of Tenant or the sale of seventy percent (70 %) or more of the value of the assets of the Tenant. In the event of any approved assignment or subletting, (i) Tenant shall not be discharged of its obligations under this Lease but shall remain liable therefor; and (ii) the assignee or subtenant shall not let or underlet the whole or any part of the Premises or assign this Lease or said sublease without Landlord’s prior written consent. If Tenant is a partnership, a withdrawal or change, voluntary, involuntary, or by operation of law, of any partner or partners owning seventy percent (70%) or more of the partnership, or the dissolution of the partnership, shall be deemed an assignment. If Tenant is a corporation, any dissolution, or other reorganization of Tenant, shall be deemed an assignment. Without in any way limiting Landlord’s absolute discretion concerning approval or disapproval of any proposed assignment or subletting, Landlord shall be under no obligation even to consider an assignment or subletting by Tenant until (a) Tenant has delivered to Landlord a written request (hereinafter the “Request”) for such approval, which Request must specify the terms of the proposed assignment or subletting and must include the proposed date on which such assignment or subletting is to occur, (b) Tenant and the proposed assignee and/or subtenant, as the case may be, have furnished Landlord with full and complete financial information and documentation acceptable to Landlord in its sole discretion, and (c) Tenant has delivered to Landlord the non-refundable sum of One Thousand Dollars ($1000.00), said sum representing the parties’ agreement of the cost to Landlord incidental to Landlord’s consideration of the Request.

20.2 If Landlord consents to any assignment or sublease of the Premises, or any part thereof, Tenant shall in consideration therefor pay to Landlord, as Additional Rent, (i) all of Landlord’s attorneys’ fees and legal costs incident to such assignment or subletting, and (ii) all of the Excess Sublease Rent less the reasonable and customary out-of-pocket transaction costs incurred by Tenant in connection with such subletting, including attorney’s fees, brokerage commissions, and alteration costs (which transaction costs shall be amortized on a straight-line basis over the sublease term). As used herein, the term Excess Sublease Rent shall mean all rent, additional charges, and other consideration payable to Tenant by the subtenant or assignee for or by reason of such sublease or assignment and which are, in the aggregate, in excess of the rent payable under this Lease for the subleased or assigned space during the term of the sublease or assignment, including but not limited to (a) sums paid for the sale or rental of Tenant’s fixtures, leasehold improvements, equipment, furniture, furnishings, or other personal property, less the then net unamortized or undepreciated cost thereof determined on the basis of Tenant’s federal income tax returns; and (b) sums paid for services provided by Tenant to such subtenant or assignee (including, without limitation, secretarial, word processing, receptionist, conference rooms, library) in excess of the fair market value of such services. Any amounts payable by Tenant hereunder shall be paid by Tenant to Landlord as and when amounts on account thereof are due or paid, whichever occurs first, by any subtenant or assignee to Tenant, and Tenant agrees to advise Landlord promptly thereof and furnish such information with regard thereto as Landlord may request from time to time. Landlord shall have the right at any time and from time to time upon prior notice to Tenant to audit and inspect Tenant’s books, records, accounts, and federal income tax returns to verify the determination of Additional Rent payable hereunder.

  

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ARTICLE 21

DEFAULT BY TENANT

	
21.1  

	
Upon the happening of any one or more of the events as expressed below in (a) through (h), inclusive, the Landlord shall have, in addition to any and all rights and/or remedies afforded elsewhere in this Lease and/or under law, any and all rights and remedies hereinafter set forth in this Article 21:

(a) In the event Tenant should fail to pay, in full and without setoff or deduction, one or more installments of Monthly Base Rent, or any other sums required to be paid hereunder, and after notice and opportunity to cure for failure to pay any sum other than Monthly Base Rent, as such notice is provided in Article 21.1(h) herein, whether Additional Rent or otherwise, as and when the same becomes due;

(b) In the event a petition in bankruptcy (including any proceeding under the Bankruptcy Act) be filed against the Tenant and such petition is not dismissed within thirty (30) days from the filing thereof, or in the event Tenant is adjudged a bankrupt or files any bankruptcy petition;

(c) In the event an assignment for the benefit of creditors is made by Tenant;

(d) In the event of an appointment by any Court of a receiver or other Court officer of Tenant’s property and such receivership is not dismissed within thirty (30) days from such appointment;

(e) In the event Tenant removes, attempts to remove, or permits to be removed from the Premises, except in the usual course of business, furniture, effects or other property of the Tenant therein;

(f) In the event Tenant, before the expiration of the term hereof, and without the prior written consent of the Landlord, vacates the Premises or abandons the possession thereof, or uses the same for purposes other than the purposes for which the same are hereby leased;

(g) In the event an execution or other legal process is levied upon the goods, furniture, effects or other property of Tenant brought on the Premises, or upon the interest of Tenant in the Lease, and the same is not satisfied or dismissed within five (5) days from such levy;

(h)  In the event Tenant violates any other terms, conditions, or covenants of this Lease, and fails to remedy the same within ten (10) days after written notice thereof is given by Landlord to Tenant.

  

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21.2 In the event of any such default or breach as specified in Article 21.1, above, the Landlord, in addition to any and all rights and/or remedies afforded in the Lease and/or under law, shall have the right, at the option of Landlord, (i) to terminate this Lease without further notice to Tenant, and to thereupon re-enter and take possession of the Premises, upon due legal process, in which event Landlord shall be entitled to recover from Tenant the amount described in paragraph 21.4, below, (ii) to retake possession on account of the Tenant, in which event the terms of paragraph 21.3, below, shall apply, or (iii) without further notice, to declare the Remaining Rent (hereinafter defined) immediately due and payable without regard to whether or not possession shall have been surrendered to or taken by Landlord, and may commence action immediately thereupon and recover judgment therefor.

21.3 In the event Landlord retakes possession of the Premises on account of the Tenant, pursuant to paragraph 21.2(ii), above, Landlord may do so upon such terms and conditions as Landlord may deem advisable or satisfactory, in which event all costs and expenses of such re-letting, including necessary renovations and alterations of the Premises, cleaning expenses, reasonable attorneys’ fees and any real estate commissions, shall accrue as Additional Rent due Landlord. If a sufficient sum shall not be thus realized or secured by re-letting the Premises to pay all rent and other charges due hereunder, at Landlord’s option (i) Tenant shall pay Landlord any and all monthly deficiencies, notwithstanding Landlord may have received rental in excess of the rental stipulated in this Lease in previous or subsequent months, and Landlord may bring actions therefore as such monthly deficiency shall arise or at such other time or times as Landlord deems appropriate, or (ii) Tenant shall, at the conclusion of the term of this Lease, pay all Remaining Rent (hereinafter defined) immediately and in full. Nothing herein, however, shall be construed to require Landlord to re-enter and/or re-let as the agent and for the account of Tenant, nor to pay Tenant any surplus of any sums received by Landlord on a re-letting of the Premises in excess of the rent provided in this Lease.

21.4 In the event Landlord terminates this Lease in accordance with paragraph 21.2(i), above, Tenant shall pay to Landlord all Remaining Rent (hereinafter defined) reduced to present value and further reduced by the amount, if any, of rent actually received by Landlord from a replacement tenant during the remaining term of the Lease less all costs and expenses incurred by Landlord for such re-letting, including necessary renovations and alterations of the Premises, cleaning expenses, reasonable attorneys’ fees and any real estate commissions. In making the determinations required pursuant to this paragraph, Tenant specifically agrees that any affidavit procured by Landlord from an independent certified public accountant concerning present value of the Remaining Rent shall conclusively establish such present value.

21.5 As used herein, the term “Remaining Rent” shall mean all unpaid Rent.

21.6 The Landlord shall have the right to remove all or any part of the Tenant’s property from the Premises and any property removed may be stored in any public warehouse or elsewhere at the cost of, and for the account of, Tenant, and the Landlord shall not be responsible for the care or safekeeping thereof, and the Tenant hereby waives any and all loss, destruction and/or damage or injury which may be occasioned by any of the aforesaid acts other than occasioned as a result of the negligent or willful acts or omissions of Landlord.

21.7 No re-entry or taking possession of the Premises by Landlord shall be construed as an election on Landlord’s part to terminate this Lease unless a written notice of such intention is given to Tenant. Notwithstanding any such re-letting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous default or breach. Any re-entry shall be allowed by Tenant without hindrance, and Landlord shall not be liable in damages for any such re-entry, or guilty for trespass or forcible entry.

21.8 Any and all rights, remedies and options given in this Lease to Landlord shall be cumulative and in addition to and without waiver of or in derogation of any right or remedy given to it under any law or provision hereof now or hereafter in effect.

21.9 The waiver by Landlord of any breach of any term, condition or covenant herein contained shall not be deemed to be a waiver of any subsequent breach of such term, condition or covenant herein contained. The consent or approval by Landlord to or of any act by Tenant requiring Landlord’s consent or approval shall not be deemed to waive or render unnecessary Landlord’s consent or approval to or of any subsequent or similar act by Tenant. No re-entry hereunder shall bar the recovery of rents or damages for the breach of any of the terms, conditions or covenants on the part of Tenant herein contained. The receipt of rent after breach or condition broken, or delay on the part of Landlord to enforce any right hereunder, shall not be deemed a waiver or forfeiture, or a waiver of the right of Landlord to terminate this Lease or to re-enter the Premises or to re-let same, or to seek any remedy hereunder.

21.10           In the event of litigation for a dispute concerning the terms and provisions of this Lease, or to enforce the performance of any obligation hereunder, the prevailing party shall pay the other party’s reasonable attorney’s fees and costs through the appellate trial.

  

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ARTICLE 22

SURRENDER OF PREMISES/HOLDING OVER

22.1 On the termination or expiration of this Lease, Tenant shall surrender the Premises to Landlord (a) broom clean and in good condition and repair (normal wear and tear excepted), (b) free of mold, debris, and/or waste, (c) free of “Hazardous Substances” (as defined in Article 26), (d) in a condition which complies with all Environmental Laws (as defined in Article 26), and (e) in conformance with all other requirements of this Lease. Normal wear and tear shall not include any damage or deterioration that would have been prevented by proper maintenance by Tenant or by Tenant otherwise performing all of its obligations under this Lease. Tenant shall remain liable to Landlord for any and all damage occasioned by or in connection with Tenant’s surrender of the Premises. All fixtures, alterations, additions, and/or improvements to the Premises, except those which Landlord requires Tenant to remove, and except for Tenant’s personality and removable trade fixtures, including but not limited to partitions and cubicles, shall remain in the Premises as the property of Landlord.   Tenant shall deliver the Premises in similar condition as exists at the commencement of this Lease, reasonable wear and tear excepted.

22.2 In the event Tenant remains in possession of the Premises after the expiration or termination of the tenancy created hereunder and without the execution of a new Lease, Tenant, at the option of Landlord, shall be deemed to be occupying the Premises as a Tenant at sufferance until such time as Tenant surrenders possession in accordance with the terms of this Article 22 or until a court of competent jurisdiction awards Landlord possession of the Premises, and Tenant shall be liable during said holdover for a monthly rental equal to one and one-half (1.5) times the Monthly Rent payable during the last month of the Lease term. In addition to such double rent during holdover, Tenant agrees to pay all other sums payable as Additional Rent hereunder.

ARTICLE 23

QUIET ENJOYMENT

23.1 Landlord agrees that if Tenant pays the rent and other charges herein provided and shall perform all of the covenants and agreements herein stipulated to be performed on Tenant’s part, Tenant shall, at all times during said term, have the peaceable and quiet enjoyment and possession of the Premises without any manner of hindrance from Landlord or any persons lawfully claiming through Landlord, and shall and may peaceably and quietly hold and enjoy the said Premises and common areas, including but not limited to parking areas, sidewalks, entrances, exits, lobbies, restrooms and lounges for the term aforesaid, except as to such portion of the Premises or Property as shall be taken under the power of eminent domain or which may be claimed by any mortgagees of the Premises or the Property.

  

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ARTICLE 24

NOTICES

24.1 Any notice, request, demand, approval, consent or other communication which Landlord or Tenant may be required or permitted to give to the other party shall be in writing and shall be mailed by certified mail, return receipt requested, to the other party at the address specified below, or by hand delivery or to such other address as either party hereof shall have designated by notice to the other:

If to Landlord:

Micari Holdings, LLC

398 E. Dania Beach Blvd. #105

Dania Beach, Fl 33004

Attn: Sara Szpektor

with a copy to:

Iden Law Offices

3240 Corporate Way

Miramar, Florida 33025

Attn: Bruce F. Iden, Esq.

If to Tenant:

Ultimate Software Group, Inc.

1830 Main Street

Suite 100

Weston, Florida 33326

with a copy to:

The Ultimate Software Group, Inc.

2000 Ultimate Way

Weston, FL 33326

ATTN: Robert J. Manne, General Counsel

with a copy to:

Ultimate Software Group, Inc.

2000 Ultimate Way

Weston, Florida 33326

Attn: Chief Financial Officer

All notices shall be deemed to have been given upon deposit in the United States mail, postage prepaid and properly addressed as provided above or upon delivery to Tenant at the Premises, either in person or by posting a copy of any such notice on the front door of the Premises.

  

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ARTICLE 25

SECURITY DEPOSIT

Concurrently with the execution of this Lease, Landlord hereby acknowledges receipt (by check subject to collection) the amount of $18,200.00, representing security for the faithful performance and observance by Tenant of the terms, provisions and conditions of the Lease. If Tenant defaults with respect to any provision of this Lease, including but not limited to the provision relating to the payment of Rent, and the condition of the Premises when surrendered, Landlord may (but shall not be required to) use, apply or retain all or any part of the Security Deposit for the payment of Rent or any other sum in default. If any portion of the Security Deposit is so used or applied, Tenant shall, within five (5) business days after receipt of written demand therefor, deposit cash with Landlord in the amount sufficient to restore the Security Deposit to its original amount and Tenant’s failure to do so shall be a breach of this Lease. In the event that Tenant shall fully and faithfully comply with all of the terms, provisions, and conditions of this Lease, the security deposit shall be returned to Tenant with interest actually accrued, if any, after the expiration of the Lease and after the delivery of the Premises to Landlord. The Security Deposit shall be maintained in a Florida banking, savings and loan or other FDIC insured institution, in an interest bearing account, interest to accrue to the benefit of the party entitled to the Security Deposit upon termination of this Lease or otherwise as required by Florida law.

ARTICLE 26

ENVIRONMENTAL HAZARDS

26.1 As used herein, the term “Hazardous Substance” means any pollutant, contaminant, toxic or hazardous waste, dangerous substance, potentially dangerous substance, noxious substance, toxic substance, flammable, explosive, radioactive material, urea formaldehyde foam insulation, asbestos, PCBs, or any other substances the removal of which is required, or the manufacture, preparation, production, generation, use, maintenance, treatment, storage, transfer, handling, or ownership of which is restricted, prohibited, regulated, or penalized by any and all federal, state, county, or municipal statutes or laws now or at any time hereafter in effect, including but not limited to, the Comprehensive Environmental Response, Compensation, and Liability Act (42 U.S.C. §§9601 et seq.), the Hazardous Materials Transportation Act (49 U.S.C. §§5101 et seq.), the Resource Conservation and Recovery Act (42 U.S.C. §§6901 et seq.), the Federal Water Pollution Control Act (33 U.S.C. §§1251 et seq.), the Clean Air Act (42 U.S.C. §§7401 et seq.), the Toxic Substances Control Act, as amended (15 U.S.C. §§2601 et seq.), and the Occupational Safety and Health Act (29 U.S.C. §§651 et seq.), as these laws have been amended or supplemented (hereinafter collectively termed “Environmental Laws”).

26.2 Tenant shall not use in any way, or permit or suffer the use of the Premises or any part thereof, to either directly or indirectly prepare, produce, generate, manufacture, refine, treat, transport, store, maintain, handle, dispose of, transfer, or process any Hazardous Substance, unless it has received the prior written consent of Landlord, which may be unreasonably withheld. Any Hazardous Substance that Landlord permits Tenant to treat, store, transfer, or dispose of must be done in strict compliance with any and all federal, state, county, or municipal statutes or laws now or at any time hereafter in effect, including but not limited to, the Environmental Laws.

26.3 Landlord shall have the right to conduct an environmental audit at the Premises prior to and/or at the termination or expiration of the Lease and to enter upon Tenant’s premises to conduct same. The decision whether to conduct such audit shall be within the sole discretion of Landlord. The audit shall consist of such examinations, tests, inspections, samples, and reviews as Landlord or its consultant shall determine to be advisable. The audit shall be performed by a consultant of Landlord’s choice. Failure to conduct an environmental audit or to detect conditions attributable to Tenant’s operations if such audit is conducted shall in no fashion be intended as a release of any liability for environmental conditions subsequently determined to be associated with Tenant’s operation. Tenant shall be and remain liable for any environmental condition related to its operations regardless of when such conditions are discovered and regardless of whether or not Landlord conducts an environmental audit prior to and/or at the termination of the Lease. The obligations set forth in this clause shall survive the termination or expiration of the Lease.

26.4 Any environmental audit performed hereunder shall be prepared for the sole and exclusive use of Tenant and Landlord, and Tenant shall not release such assessment, or any information contained therein, to any third party (including, without limitation, any governmental agency) except if required by law or upon the prior written consent of Landlord, which consent may be withheld in Landlord’s sole discretion.

26.5 Tenant shall indemnify, defend upon request, and hold Landlord harmless from and against all costs, damages, claims, liabilities, expenses, losses, court costs, and attorney’s fees which are or may be suffered by or claimed against Landlord, based in whole or in part upon the breach by Tenant of any provision of this Article 26.

26.6  The obligations within this Article 26 shall survive the expiration or earlier termination of the Lease.

  

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ARTICLE 27

WAIVER

27.1 Failure of Landlord to declare any default immediately upon occurrence thereof or delay in taking any action in connection therewith shall not waive such default, but Landlord shall have the right to declare any such default at any time and take such action as might be lawful or authorized thereunder, either in law or in equity.

ARTICLE 28

MITIGATION

28.1 Landlord shall be obligated to mitigate damages after a default by Tenant under this Lease that results in Landlord regaining possession of all or part of the Premises if Landlord undertakes to lease the Premises to another tenant (a “Substitute Tenant”):

(a)  Landlord shall  have  no obligation  to solicit or entertain  negotiations with any  other prospective tenants for the Premises until Landlord obtains full and complete possession of the Premises.

(b) Landlord shall not be obligated to offer the Premises to any prospective tenant when other premises in the building suitable for that prospective tenant’s use are currently available.

(c) Landlord shall not be obligated to lease the Premises to a Substitute Tenant for a rental rate less than the current fair market rental rate then prevailing for similar space in comparable buildings within the same market area as the Premises.

(d) Landlord shall not be obligated to enter into a new lease under terms and conditions that are commercially unreasonable.

(e) Landlord shall not be obligated to enter into a lease with any proposed Substitute Tenant that does not have, in Landlord’s reasonable opinion, sufficient financial resources or operating experience to operate the Premises in a first-class manner.

(f) Landlord shall not be obligated to enter into a lease with any Substitute Tenant whose use of the Premises would:

(i) Violate any restriction, covenant, or requirement contained in the lease of another tenant in the building; or

(iii) Be incompatible with the operation of the building as a first-class building.

28.2 Tenant’s right to seek and/or obtain any remedy against Landlord as a result of a default by Landlord under this Lease shall be limited by the terms and conditions of this Lease, and shall be conditioned on Tenant taking all actions reasonably required, under the circumstances, to minimize any loss or damage to Tenant, or to Tenant’s Property or business, or to any of Tenant’s officers, employees, agents, invitees, or other third parties that may be caused by any such default of Landlord.

ARTICLE 29

DEFINITION OF LANDLORD

29.1 The term “Landlord” as used in this Lease means only the owner or the mortgagee in possession for the time being of the Property, so that in the event of any sale of said Property or an assignment of this Lease or any underlying lease or a demise of said Property, Landlord shall be and hereby is entirely freed and relieved of all obligations of Landlord hereunder, and it shall be deemed without further agreement between the parties and such purchasers, or assignee(s) that the purchaser or assignee has assumed and agreed to observe and perform all obligations of Landlord hereunder. The provisions of the preceding sentence shall be applicable to any successor Landlord.

  

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ARTICLE 30

TENANT’S REMEDIES

30.1 Tenant shall, and hereby agrees to, look solely to Landlord or Landlord’s successor in interest in the Premises for the satisfaction of each and every damage claim of Tenant against Landlord arising out of or in any way relating to this Lease and any rights hereunder or incidental hereto.

ARTICLE 31

NOTICE TO MORTGAGEE AND GROUND LANDLORD

31.1 After receiving notice from any person, firm, or other entity that it holds a mortgage which includes  the Premises as part of the mortgaged premises, or that it is the ground Landlord under a lease with  Landlord, as ground Tenant, which includes the Premises as a part of the leased premises, no notice from  Tenant shall be effective unless and until a copy of the same is given to such holder or ground Landlord  and the curing of any of Landlord’s defaults by such holder or ground Landlord shall be treated as  performance by Landlord. As of the date of execution of this Lease, there is no mortgage or ground  landlord other than: NONE and NONE.

ARTICLE 32

ASSIGNMENT OF RENTS

32.1 With reference to any assignment by Landlord of Landlord’s interest in this Lease, or the rents payable hereunder, conditional in nature or otherwise, which assignment is made to the holder of such mortgage or ground lease on property which includes the Premises, Tenant agrees (i) that the execution thereof by Landlord and the acceptance thereof by the holder of such mortgage, or the ground Landlord, shall never be treated as any assumption by such holder or ground Landlord of any of the obligations of Landlord hereunder, unless such holder, or ground Landlord, shall by notice sent to Tenant specifically otherwise elect, and (ii) that, except as aforesaid, such holder or ground Landlord shall be treated as having assumed Landlord’s obligations hereunder only upon the foreclosure of such holder’s mortgage and the taking of the position of the Landlord, or in the case of a ground Landlord, the assumption of Landlord’s position hereunder by such ground Landlord.

ARTICLE 33

LANDLORD’S DEFAULT

33.1 Landlord shall in no event be in default in the performance of any of its obligations hereunder unless and until Landlord shall have failed to perform such obligation within thirty (30) days, or such additional time as is reasonably required to correct any such default, after written notice by Tenant to Landlord properly specifying wherein Landlord has failed to perform any such obligation.

  

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ARTICLE 34

OPTIONS TO RENEW

(a) First Renewal Option. Provided that there are no material Tenant defaults under this Lease which have not been cured, this Lease may be renewed or extended for one (1) additional term of two (2) years by Tenant giving written notice to Landlord of its interest to renew not less than seven (7) months prior to the expiration of the then current term. All conditions and covenants of the Lease shall continue in full force and effect during such additional term except that:

(i) the monthly rent described in Article 3.3 of this Lease shall be the then Prevailing Market Rental (as defined below) for similar space, accounting for any concessions which are then standard in the market. Notwithstanding anything to the contrary contained herein, provided Landlord has acted in good faith and has not created any unreasonable delays, in the event Tenant and Landlord do not mutually execute a Lease Renewal (which Renewal shall only affect the Lease terms in accordance with Article 3.3 and shall leave all other terms and conditions of this Lease unchanged) within ninety (90) days of the expiration of the initial term of this lease, Tenant’s renewal option as described herein shall be null and void.

(b) Second Renewal Option.  Provided that there are no material Tenant defaults under this Lease which have not been cured at the time that the option herein set forth is exercised by Tenant, this Lease may be renewed or extended for one (1) additional term of five (5) years by Tenant giving written notice to Landlord of its interest to renew not less than seven (7) months prior to the expiration of the then current term. All conditions and covenants of the Lease shall continue in full force and effect during such additional term except that:

(i) the monthly rent described in Article 3.3 of this Lease shall be the then Prevailing Market Rental for similar space, accounting for any concessions which are then standard in the market. Notwithstanding anything to the contrary contained herein, provided Landlord has acted in good faith and has not created any unreasonable delays, in the event Tenant and Landlord do not mutually execute a Lease Renewal (which Renewal shall only affect the Lease terms in accordance with Article 3.3 and shall leave all other terms and conditions of this Lease unchanged) within ninety (90) days of the expiration of the then current term of this Lease, Tenant’s renewal option as described herein shall be null and void.

(c) The “Prevailing Market Rental” shall be the prevailing annual rental rate per rentable square foot for the Premises then being charged to new Tenants in the building and comparable buildings within the Weston Town Center for improved space comparable to the Premises (or adjusting the rental rate as appropriate for differences therein), which is agreed by Landlord and Tenant or determined by appraisal in accordance with the provisions of the balance of this Paragraph, taking into consideration use, location and floor level within the applicable building, the location, quality, age and reputation of the building, the definition of rental area or net rentable area, as the case may be, with respect to which such rental rates are computed, rent concessions or other allowances, abatements, lease assumptions or take-overs, differences in terms and provisions of the applicable leases such as pass-throughs of operating expenses and taxes, moving expenses, Tenant improvements, parking rights, the term of the lease (or renewal) under consideration, and the extent of services provided thereunder, applicable distinctions between “gross” leases and “net” leases, base year or expense stop figures for escalation purposes, other Tenant concessions and benefits such as new carpeting, paint and wall coverings for the Premises, and any other relevant term or condition in making such evaluation.

Within 30 days after Tenant shall have given notice to Landlord to renew the Lease for either the first renewal term or the second renewal term, Landlord and Tenant shall attempt to agree upon the Prevailing Market Rental for the extended term. If the parties agree on Prevailing Market Rental for the extended term during that period, they shall immediately execute an amendment to the Lease stating the Prevailing Market Rental and the amount of the fixed rent for such renewal term in question.

If the parties are unable to agree on the Prevailing Market Rental for the applicable renewal term within the 30 day period, then, within 10 days after the expiration of that period, each party, at its cost, and by giving notice to the other party, shall appoint a real estate appraiser with MAI designation and at least five years’ full time commercial appraisal experience in the area in which the Building is located to appraise the Premises and determine the fair rental value for the Premises, taking into consideration the factors described in the first paragraph of this Paragraph (c) above. If one party does not appoint an appraiser within ten days after the other party has given notice of the name of its appraiser, the single appraiser appointed shall be the sole appraiser, and fair rental value so determined by that appraiser shall be the Prevailing Market Rental for purposes of this subparagraph.

  

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If two appraisers are appointed by the parties as stated above, they shall independently establish fair rental value for the Premises. If the appraisers agree, the Prevailing Market Rental shall be the fair rental value of the property as agreed by the two appraisers. If they are unable to agree within 30 days after the second appraiser has been appointed, the Prevailing Market Rental shall be the fair rental value for the Premises as determined by the average of the two appraisals if the higher of the two appraisals is no greater than 110% of the lower of the two appraisals. If, however, the higher of the two appraisals is more than 110% higher than the lower appraisal, the two appraisers shall promptly appoint a third appraiser who shall appraise the Premises and independently determine fair rental value for the Premises, taking into consideration the factors described in the first subparagraph above. Each of the parties shall bear one half of the cost of appointing the third appraiser and of paying the third appraiser’s fee. The third appraiser shall have the qualifications stated above and shall further be a person who has not previously acted in any capacity for either party.

Within 30 days after the selection of the third appraiser, the Prevailing Market Rental shall be established as the fair rental value of the Premises as determined by an average of the three appraisers; provided, however, that if the low appraisal and/or the high appraisal are/is more than ten percent lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one appraisal is disregarded, the remaining two appraisals shall be added together and their total divided by two to establish the Prevailing Market Rental. If both the low appraisal and the high appraisal are disregarded as stated in this Paragraph, the middle appraisal shall establish the Prevailing Market Rental for the Premises during the renewal term in question. In the event said established Prevailing Market Rental is unacceptable to Tenant, Tenant shall have the right to void its election to renew this Lease by giving Landlord written notice of its intention no later than fifteen (15) days after the establishment of the Prevailing Market Rental in accordance herewith.

 

 

ARTICLE 35

MISCELLANEOUS

35.1 If any term or 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 term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby, and each term and provision of this Lease shall be valid and be enforced to the fullest extent permitted by law.

35.2 Except as herein otherwise expressly provided, the terms and provisions hereof shall be binding upon and shall inure to the benefit of the heirs, executors, administrators, successors and permitted assigns, respectively, of Landlord and Tenant. Each term and each provision of this Lease to be performed by Tenant shall be construed to be both an independent covenant and a condition. The reference contained to successors and assigns of Tenant is not intended to constitute a consent to assignment by Tenant, but as reference only to those instances in which Landlord may have given consent to a particular assignment.

35.3 This writing contains the entire agreement between the parties hereto, and no agent, representative, salesman or officer of Landlord hereto has authority to make or has made any statement, agreement, or representation, either oral or written, in connection herewith, modifying, adding or changing the terms and conditions herein set forth. No modification of this Lease shall be binding unless such modification shall be in writing and signed by the parties hereto. Tenant warrants to Landlord that, if Tenant is a corporation, (a) the execution and delivery of this Lease has been duly authorized by the Board of Directors of the Tenant, (b) the making of this Lease does not require any vote or consent of shareholders. If Tenant is a partnership, or other entity, the individual(s) executing this Lease on behalf of Tenant represent(s) that he/she/they is/are empowered to execute this Lease on behalf of Tenant, and to bind Tenant hereto.

35.4 Pursuant to §404.056(8), Florida Statutes, Landlord hereby advises Tenant of the following: 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.

35.5 To the extent permitted by applicable law, Landlord and Tenant hereby mutually waive any and all rights which either may have to request a jury trial in any action, proceeding or counterclaim arising out of this lease or Tenant’s occupancy of or right to occupy the premises.   This waiver is made freely and voluntarily, without duress and only after each of the parties hereto have had the benefit of advice from legal counsel on this subject.  Tenant further agrees that in the event Landlord commences any summary proceeding for non-payment of rent or possession of the Premises, Tenant will not interpose and hereby waives all right to interpose any counterclaim of whatever nature in any such proceeding.  Tenant further waives any right to remove said summary proceeding to any other court or to consolidate said summary proceeding with any other action, whether brought prior or subsequent to the summary proceeding. Any suit, claim, and/or proceeding regarding the Premises or the rights, duties, and obligations set forth in this Lease, shall be brought exclusively in the appropriate court of law situated in Broward County Florida.

  

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35.6 Landlord hereby represents that the Premises are vacant and available for occupancy by Tenant upon execution of this Lease, other than that portion of the Premises known as Suite 204. If Landlord is unable to give possession of Suite 204 of the Premises on date of commencement of the term hereof, because of holdover or retention of possession by any Tenant or occupant, Landlord shall not be subject to any liability for failure to give possession on said date and the validity of this Lease shall not be impaired under such circumstances, nor shall the same be construed in any way to extend the term of this Lease, but rent payable hereunder shall be abated (provided Tenant is not responsible for inability to obtain possession) until after Landlord has provided the premises to Tenant for Tenant’s occupancy.

35.7 Tenant shall comply with all laws, ordinances, rules and regulations of governmental authorities (including zoning laws and building codes) and insurance underwriters, and any other organization exercising similar functions, affecting the Premises, but this clause “35.7” shall not be construed to require Tenant to comply with any such laws, ordinances, rules or regulations which require structural changes in the Premises or the Property in which the Premises are located unless the same are made necessary by any act or work performed by Tenant or by the nature of Tenant’s business or by the manner of use of the Premises.

35.8 In the event that during any calendar year any payment of rent pursuant to the provisions of this Lease shall not be paid to, and received by, Landlord on or before the third (3rd) day following the date the same is otherwise payable pursuant to this Lease, then Tenant shall pay to Landlord, as and for a late charge of $.250.00 if payment is not received within five (5) days when due; and late fee shall be increased from $250.00 to $.500.00 if not received by ten (10) days of due date. This paragraph 35.8 is not intended to create, and does not create, a grace period for the payment of rent by Tenant; no such grace period exists under this Lease. In addition, if in any event Tenant attempts to make payment of any of the sums due under the terms of this Lease by way of a check that is returned unpaid from Tenant’s banking institution, Landlord shall be entitled to collect a fee equal to seventy-five dollars ($75.00) in each instance.

35.9 The submission of this Lease for examination does not constitute an offer to lease, and this Lease becomes effective only upon execution thereof by Landlord and Tenant.

 

35.10 Nothing contained in this Lease shall be deemed or construed as making the parties partners or co-venturers, or as making the Landlord an associate of Tenant in the conduct of its business, or as making either of the parties in any way responsible for the debts, losses, or obligations of the other; it being understood and agreed that the relationship between the parties is, and is limited to, that of Landlord and Tenant.

35.11 Tenant represents and warrants to Landlord that there are no claims for brokerage commissions or finder’s fees in connection with the execution of the Lease, other than:   NONE, and Tenant agrees to indemnify, defend and save Landlord harmless from all liabilities arising from such claims other than as noted herein, including, without limitation, the cost of counsel fees.

35.12 The captions or titles used throughout this Lease are for reference and convenience only and shall in no way define, limit or describe the scope or intent of this Lease. Words of any neuter gender used in this Lease shall be held to include both the masculine and feminine gender, and words in the singular number shall be held to include the plural, and vice versa.

35.13 With respect to any provision of this Lease which provides, in effect, that Landlord shall not unreasonably withhold or unreasonably delay any consent or approval, Tenant in no event shall be entitled to make, nor shall Tenant make, any claim for, and Tenant hereby waives any claim for, money damages, nor shall Tenant claim any money damages by way of set off, counterclaim or defense, based upon any claim or assertion by Tenant that Landlord has unreasonably withheld or unreasonably delayed any consent or approval, Tenant’s sole remedy in such event being an action or proceeding to enforce any such provision, or for specific performance, injunction or declaratory judgment. To the extent Landlord seeks legal counsel in connection with any request made by Tenant to Landlord, whether for consent or approval or otherwise, Tenant shall pay to Landlord (as Additional Rent) Landlord’s costs incurred therefor, and Landlord may condition its response to Tenant’s request on Tenant’s prior payment of said costs incurred.

35.14 Force Majeure. In any case, where either party hereto is required to do any act, except the payment of rent or other money, the term for the performance thereof shall be extended by a period equal to any delay caused by or resulting from acts of God, the elements, weather, war, civil commotion, fire or other casualty, strikes, lockouts, labor disturbances, inability to procure labor or materials, failure of power, government regulations or other causes beyond such party’s reasonable control, whether such time be designated by a fixed date, a fixed time or a “reasonable time”.

  

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35.15 It is understood and agreed between the parties hereto that time is of the essence of this Lease in connection with all monetary obligations contained herein.

35.16 Signage. Tenant at its sole cost and expense shall have the right to place, construct and maintain an exterior sign on the Leased Premises advertising its business on the Premises. Landlord shall have the right to approve such sign, which approval shall not be unreasonably withheld, and any sign that Tenant has the right to place, construct and maintain shall comply with all applicable laws and the sign standards as set forth in the Weston Town Center Covenants. Upon termination of the tenancy herein created, Tenant shall remove any sign so placed and repair any damage or injury to the Premises caused thereby.

35.17 Parking.  Tenant shall be entitled to the use parking spaces on an unassigned, non-reserved basis. These spaces may only be used for cars, trucks and vans. Parking is governed under the Weston Town Center Covenants.

35.18 THE PREMISES ARE HEREBY DESIGNATED AS “NON-SMOKING” PREMISES. ACCORDINGLY, ALL FORM AND MANNER OF SMOKING-INCLUDING, WITHOUT LIMITATION, CIGARETTE SMOKING, CIGAR SMOKING, AND PIPE SMOKING-SHALL BE AND IS STRICTLY PROHIBITED ON OR IN THE PREMISES AND ANY BREACH OF  THIS   PROHIBITION   BY TENANT SHALL  BE   DEEMED  A   DEFAULT  UNDER THIS   LEASE,   ENTITLING LANDLORD TO ANY AND ALL OF THE REMEDIES FOR DEFAULT AFFORDED UNDER THIS LEASE AND/OR UNDER LAW. IN THE EVENT OF SUCH A DEFAULT BY TENANT, THE NOTICE PROVISIONS OF PARAGRAPH 21.1(h) HEREOF SHALL NOT APPLY, AND LANDLORD SHALL BE ENTITLED TO ANY AND ALL REMEDIES WITHOUT NOTICE. TENANT AGREES THAT THE CONSPICUOUSNESS OF THIS CLAUSE PROVIDES TENANT WITH SUFFICIENT NOTICE OF BOTH THE SMOKING PROHIBITION HEREUNDER AND LANDLORD’S RIGHTS ON BREACH OF SAME.

35.19 Landlord and Tenant acknowledge that there exists some water intrusion in the Premises. If the water intrusion can be remedied with minor repair, such as caulking or sealant to doors, Tenant will remedy. If the repair requires more than minor repair, Landlord shall remedy same. The parties agree to jointly and in good faith resolve same.

35.20 Personal Property currently in Demised Premises.   Landlord and Tenant hereby acknowledge and agree that any and all items of personal property located in the Demised Premises at the commencement of this Lease shall belong to Tenant, for Tenant to keep or dispose of in its sole and absolute discretion.

 

 

 

SIGNED, SEALED AND DELIVERED                    Micari Holdings, LLC

IN THE PRESENCE OF:                        a Florida limited liability company

_________________________                      By: /s/ Sara Szpektor, Manager

                                 Dated: November 5, 2010

                                                             

                                             

                                                             

 

SIGNED, SEALED AND DELIVERED

IN THE PRESENCE OF:                        The Ultimate Software Group, Inc.,

                                a Delaware corporation

 

                                        /s/ Robert Manne

/s/ Crystal Schaffer 

                                By: Robert Manne, Senior VP

                                Dated: November 5, 2010

                                                             

                                                              

 

  

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                                EXHIBIT "A"

                               THE PREMISES

 

 

 

 

 

[                                                                                                                                                ]

  

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[                                                                                                                                                ]

  

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[                                                                                                                                                         ]

  

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                              Exhibit B

 

                              Easement Agreeement

This instrument prepared by

and record and return to:

Doretta  Martone Knoerr, Esq.

Becker & Poliakoff,  P.A.

3111 Stirling Road

Ft. Lauderdale, F1 33312

NON-EXCLUSIVE EASEMENT FOR IT FACILITIES

THIS EASEMENT is made as of the ____ day of ____, 2010, by and between WESTON COMMON AREA, LLC, a Florida limited liability company (“Common Area Owner”) (“Grantor”) and THE ULTIMATE SOFTWARE GROUP, INC., a Delaware corporation doing business in Florida as US GROUP (DE) INC. (“Grantee”), and joined by 2000 MAIN STREET ASSOCIATES, LLC, a Delaware limited liability company (“2000 Landlord”) and joined by MICARI HOLDINGS, LLC, a Florida limited liability company (“1830 Landlord”) for the purposes stated herein.

WITNESSETH:

WHEREAS, 2000 Landlord is the owner of the building and real property improvements located at 2000 Main Street, Weston, Florida; and

WHEREAS, 1830 Landlord is the owner of the building and real property improvements located at 1830 Main Street, Weston, Florida; and

WHEREAS, Common Area Owner is the owner of all Common Property within Weston Town Center, as set forth in that certain Declaration of Covenants for Weston Town Center, recorded on February 10, 2000 in Official Records Book 30249, Pages 1592 - 1702, of the Public Records of Broward County, Florida, as amended (the “Declaration”), subject to all other easements and restrictions of record; and,

WHEREAS, each of the above properties is subject to the Declaration; and,

WHEREAS, Grantor desires to grant an easement in favor of Grantee over those portions of the real property and improvements owned by them, as more particularly identified in that certain sketch attached hereto and made a part hereof as Exhibit “A” (the “Easement Parcel”) for the purposes stated herein; and

WHEREAS, 2000 Landlord and 1830 Landlord desires to join in and consent to the Easement granted to Grantee herein and to acknowledge and confirm Grantee’s right to connect the IT Facilities to the buildings and property owned by each in connection with leases by and between each of the 2000 Landlord and Grantee and 1830 Landlord and Grantee; and

WHEREAS, Common Area Owner, is desirous of granting an easement over its property, in favor of the Grantee, and its successors and/or assigns, for purposes of installation, operation, maintenance, repair and replacement of certain underground and above ground cable wires, connections, relays, raceways and appurtenances for connection of internet and other technology facilities (“IT Facilities”) to, from and between 2000 Main Street, Weston, Florida, and/or 1830 Main Street, Weston, Florida, and/or 2000-2002 Ultimate Way, Weston, Florida within an area of ten (10) feet in width (the “Easement Parcel”), all as more particularly provided herein; and

WHEREAS, 2000 Landlord and 1830 Landlord each is desirous of joining in the Easement for the purposes stated herein and to confirm Grantee’s right to connect the IT Facilities located in the Easement to the premises leased by each landlord to Grantee, through, over and on the respective buildings and improvements owned by them; and

WHEREAS, this Easement is not perpetual, but rather shall be effective only for so long as Grantee, its successors and/or assigns, leases and/or owns at least two (2) of the premises located at 1830 Main Street, 2000 Main Street and/or 2000-2002 Ultimate Way, all located in Weston, Florida.

NOW THEREFORE, GRANTOR, in consideration of the sum of Ten ($10.00) Dollars, and other good and valuable consideration, the respective receipt and sufficiency of which is hereby acknowledged, does hereby agree as follows:

  

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1.  The above recitals are true and correct and incorporated herein by reference.

2. Grantor does hereby declare and hereby grant to the Grantee, its successors and assigns, a non-exclusive easement for the installation, operation, maintenance, repair and replacement of certain underground and above ground cable wires, connections, relays, raceways and appurtenances for connection of internet and other technology facilities (“IT Facilities”) to, from and between 2000 Main Street, Weston, Florida, and/or 1830 Main Street, Weston, Florida, and/or 2000-2002 Ultimate Way, Weston, Florida within an area of ten (10) feet in width, in accordance with the plan attached hereto as Exhibit “A” on, over, under, across and above the Easement Parcel, for the benefit of Grantee; provided, however, no above ground IT Facilities shall be permitted except as shown on the construction plans to be prepared at the sole cost and expense of Grantee it being understood and agreed that the IT Facilities will enter each building above ground.   Grantee, Grantor, 2000 Landlord and 1830 Landlord hereby agree that the attached plans shall identify and locate either (i) the in-field proposed easement parcel; or (ii) an as-built easement parcel identifying the exact location of the installed IT Facilities. In the event Exhibit “A” is not an as-built survey, the parties agree that this Easement can be re-recorded attaching a replacement Exhibit “A” which will be an as-built survey of the Easement Parcel, the re-recording cost to be paid by Grantee.

3. Grantor and Grantee further agree that this Easement, and 2000 Landlord and 1830 Landlord each agree that Grantee’s right to connect the IT Facilities, as to the property, building and improvements owned by each, also includes the right to install, operate and maintain all IT Facilities as provided herein, associated pipes, facilities and all necessary appurtenances for the use and benefit of Grantee, together with the right of ingress and egrees to Grantee and/or its employees or subcontractors for the purpose of installing, operating and maintaining the IT Facilities.

4. It is the intent of the parties that this Easement be in full force and effect through the term of those certain leases, through and including all renewal option periods provided in said leases, as may be amended, by and between:

(i) Grantee, its successors and/or assigns, and 2000 Landlord as to the premises located at 2000 Main Street, Weston, Florida; and

(ii) Grantee, its successors and/or assigns, and 1830 Landlord as to the premises located at 1830 Main Street, Weston, Florida;

and that this Easement shall remain in full force and effect and shall not terminate so long as at least one of the referenced leases is still in full force and effect. This Easement shall automatically terminate once none of the referenced leases are in effect.

5. Anything to the contrary notwithstanding, Grantor hereby reserves all rights of ownership and control in and to those portions of the Easement Parcel owned by it, and which are not inconsistent with the foregoing easement, including, without limitation, the right to grant further easements on, over, under and/or across the Easement Parcel (i.e., utility and/or access easements or other or broader use rights), the right to improve the Easement Parcel (or any portions thereof), the right to use of all portions of the Easement Parcel not inconsistent with the use by Grantee, and the right to use the Easement Parcel for all uses not precluding or interfering with the uses permitted herein.

6. Grantee agrees to indemnify, defend and hold harmless the 2000 Landlord, 1830 Landlord and Common Area Owner from and against any cost, expense, liability, or judgment (including reasonable attorney fees) relating to any construction, maintenance and repair of those portions of the Easement Parcel owned by each of them, and necessitated as a result of the construction, installation and maintenance by Grantee of the IT Facilities in the Easement Parcel. Grantee shall also name each of the 2000 Landlord, the 1830 Landlord and the Common Area Owner as an additional insured on its general liability insurance in amounts and with other terms and conditions as set forth in the respective Leases. Notwithstanding anything contained herein to the contrary, in the event one of the leases is terminated, but the other remains in effect, then Grantee shall only be obligated to maintain the aforementioned general liability insurance for the remaining landlord and the Common Area Owner.   Grantee acknowledges that the property owners are not able to advise or ascertain the location of other underground facilities or easements that the Easement Area may cross or that may need to be addressed by Grantee in the installation of the IT Facilities, and that Grantee accepts the Easement Area as is without representation or warranty whatsoever.

  

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7. Upon termination of this Easement, 2000 Landlord, 1830 Landlord and Common Area Owner each hereby reserve the right to require Grantee to remove the IT Facilities from the portion of the Easement Parcel owned by them, and, to restore the Easement Parcel, any common area property, and any exterior portion of any building wherein the IT Facilities are run, at the sole cost and expense of Grantee. Upon written request, Grantee shall further prepare and record at its sole cost and expense appropriate legal documentation documenting the termination of this Easement.

8. Except as mandated by governmental requirements, this Easement may not be relocated, moved or modified in any manner whatsoever without the prior written consent of the Grantors, and the Grantee, which consent shall not be unreasonably withheld, conditioned or delayed. The cost of any such relocation shall be born by the party requesting the relocation.

9. Grantors and Grantee further agree that the maintenance obligation for all IT Facilities constructed on the Easement Parcel and servicing the Grantee, shall be borne solely by Grantee. Grantee agrees that in connection with the installation and maintenance of the IT Facilities, Grantee shall have the obligation to repair any trenches or damage occasioned to the Easement Parcel or to any building, improvements, parking lot or pavement areas, or other improvement and to restore the property so damaged to substantially the same condition in which it existed prior to such damage caused by it at its sole cost and expense and to the reasonable satisfaction of such owner.

10. Grantors, on behalf of themselves and their respective successors and assigns, reserve the right to continued free use and enjoyment of the Easement Parcel as each had the right to prior to the Easement, for any purposes which are not inconsistent with the rights granted herein to Grantee.

11. This Easement shall be governed by and construed in accordance with the laws of the State of Florida. Venue for any action, litigation or proceeding arising out of or concerning this Easement shall be in Broward County, Florida and the parties expressly waive their right to venue elsewhere.

12. This Easement grant shall be given a reasonable construction so that the intention of the parties to confer a commercially usable right of enjoyment and use with respect to the Easement Parcel for Grantee, its successors and assigns, shall be carried out. The rule of strict construction shall not apply to this Easement grant. The joinder in this document by the 2000 Landlord, and the 1830 Landlord is not for the purpose of creating an easement on their respective properties but for the purposes of acknowledging the grant of this easement by the Grantor and to confirm the use of this easement in connection with leases between each of them as landlord and Grantee as tenant.

13. Notwithstanding anything to the contrary herein contained, this Easement may be terminated by the execution and recording of a document setting forth the date and terms of such termination and executed by all of the then owners of the Easement Parcel and the Grantee, its successors and/or assigns.

14. This Easement shall be a covenant running with the land and shall be binding upon and inure to the benefit of the parties hereto and their respective successors and/or assigns, for the term set forth herein.

15. This Easement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals the date and year first above written.

GRANTOR:

COMMON AREA OWNER

  

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Witness signature                            WESTON COMMON AREA, LLC, 

Witness Print Name:____________                                                              

                                   a Florida limited liability company

 

  

Witness signature

Witness Print Name:____________                     By:___________________________

                                  Its:___________________________

                                                                           

                                  (Corporate Seal)

 

 

 

STATE OF FLORIDA                                     )

                                            ):ss

COUNTY OF  ___________                                  )

 

       The foregoing instrument was acknowledged for before me this  ____     day of ___     , 2010, by ___      ,as ____       of  WESTON COMMON AREA, LLC, Florida limited liability company, personally known to me (_____) or who produced    ______ as indentification, and he acknowledged thexecution thereof to be his free act and deed, on behalf of the company and for the uses and purposes therein mentioned and did/did not take an oath.

 

 

      WITNESS my hand and official seal in the country and state last aforesaid, this ____    day of ____    , 2010.

 

                     

                                                                      

     

                                   NOTARY PUBLIC, State of Florida

 

 

                                    Notary, Print Name

 

My Commission Expires

                     

 

 

 

 

  

28

  

 

 

 

 

 

  IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals the date and year first above written. 

 

 

 

 

____________________________                  GRANTEE:

 

Witness signature                        THE ULTIMATE SOFTWARE GROUP, 

Witness Print Name:____________                  INC., doing business in Florida as US GROUP (DE) INC.

                                                   

                               a Delaware corporation

  

Witness signature

Witness Print Name:____________                  By:___________________________

                               Its:___________________________

                                                                           

                               (Corporate Seal)

 

 

 

STATE OF FLORIDA                                  )

                                          ):ss

COUNTY OF  ___________                                )

 

       The foregoing instrument was acknowledged for before me this  ____     day of ___     , 2010, by ___      ,as ____       of  THE ULTIMATE SOFTWARE GROUP, INC, a Delaware corporation doing business in Florida as US GROUP (DE) INC., personally known to me (_____) or who produced    ______ as indentification, and he acknowledged the execution thereof to be his free act and deed, on behalf of the company and for the uses and purposes therein mentioned and did/did not take an oath.

 

 

      WITNESS my hand and official seal in the country and state last aforesaid, this ____    day of ____    , 2010.

 

                     

                                                                      

     

                                 NOTARY PUBLIC, State of Florida

 

 

                                 Notary, Print Name

 

My Commission Expires

                     

 

 

 

  

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IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals the date and year first above written. 

 

 

 

 

____________________________                 JOINED FOR THE PURPOSES STATED ABOVE:

 

Witness signature                            2000 LANDLORD

 

Witness Print Name:____________                      2000 MAIN STREET ASSOCIATES, LLC

                                                   

                                   a Delaware limited liability company  

Witness signature

Witness Print Name:____________                       By:___________________________

                                    Its:___________________________

                                                                           

                                    (Corporate Seal)

 

 

 

STATE OF FLORIDA                                    )

                                           ):ss

COUNTY OF  ___________                                 )

 

       The foregoing instrument was acknowledged for before me this  ____     day of ___     , 2010, by ___      ,as ____       of  2000 MAIN STREET ASSOCIATES, LLC, a Delaware limited liability company, personally known to me (_____) or who produced    ______ as indentification, and he acknowledged the execution thereof to be his free act and deed, on behalf of the company and for the uses and purposes therein mentioned and did/did not take an oath.

 

 

      WITNESS my hand and official seal in the country and state last aforesaid, this ____    day of ____    , 2010.

 

                     

                                                                      

     

                                 NOTARY PUBLIC, State of Florida

 

 

                                Notary, Print Name

 

My Commission Expires

                     

 

  

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 IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals the date and year first above written. 

 

 

 

 

____________________________                 JOINED FOR THE PURPOSES STATED ABOVE:

 

Witness signature                              1830 LANDLORD

 

Witness Print Name:____________                        MICARI HOLDINGS, LLC

                                                   

                                     a Florida limited liability company  

Witness signature

Witness Print Name:____________                        By:___________________________

                                     Its:___________________________

                                                                           

                                     (Corporate Seal)

 

 

STATE OF FLORIDA                                    )

                                           ):ss

COUNTY OF  ___________                                 )

 

       The foregoing instrument was acknowledged for before me this  ____     day of ___     , 2010, by ___      ,as ____       of  MICARI HOLDINGS, LLC, a Delaware limited liability company, personally known to me (_____) or who produced    ______ as indentification, and he acknowledged the execution thereof to be his free act and deed, on behalf of the company and for the uses and purposes therein mentioned and did/did not take an oath.

 

 

      WITNESS my hand and official seal in the country and state last aforesaid, this ____    day of ____    , 2010.

 

                     

                                                                      

     

                                     NOTARY PUBLIC, State of Florida

 

 

                                     Notary, Print Name

 

My Commission Expires

 

 

 

 

 

  

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EXHIBIT "A"

 

EASEMENT PARCEL

 

Legal and Sketch

 

 

  

32

  

 

Exhibit C

 

Rules and Regulations

 

 

 

 

 

  

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SCHEDULE “A”

WESTON TOWN CENTER RULES AND REGULATIONS

PART I – GENERAL

The following are the Rules and Regulations of Weston Town Center Maintenance Association, Inc. and shall apply to all portions of The Properties now or hereafter subject to the Declaration of Covenants for Weston Town Center, as amended from time to time, the defined terms of which are incorporated into these Rules and Regulations by this reference.

As used in these Rules and Regulations, the term “Persons” shall mean any natural person or corporation, partnership, limited liability company or other business entity and shall extend to and include all Owners and their Members’ Permittees (specifically including, without limitation, tenants or occupants of Units and their principals, agents, employees, contractors and invitees).

1. Access. No Person shall obstruct any elevators, vestibules, stairways, corridors, halls, sidewalks, passages,  exits, entrances, roadways, truck ways, loading docks, package pick-up stations, or pedestrian sidewalks or ramps within any portion of The Properties. No sidewalk or walkway shall be used for other than pedestrian travel except as specifically permitted in these Rules and Regulations. No Person shall use any roadway, sidewalk, or walkway, except as a means of egress or ingress to retail or commercial establishments or residential areas or automobile parking areas within The Properties, or adjacent public streets. Such use shall be in an orderly manner, and in accordance with the directional and other signs or guides. Roadways shall not be used for parking or stopping, except for the immediate loading or unloading of passengers.

2. Outdoor Seating. Food service establishments shall be permitted to have and maintain furniture and other items for outdoor seating consisting of tables, chairs, planters, service cans and other furniture and equipment customarily used for such purposes, but only in accordance with a plan submitted to, and approved by, the Association.  At a minimum, and without limiting the Association’s right to approve or disapprove such plans and to place conditions thereon, each such plan shall provide for unimpeded pedestrian access through the outdoor seating area and shall not permit any items (furniture, equipment,  planters or otherwise) to be used or placed outside of the portion of the Common Areas immediately adjacent to the applicable Unit.   The boundaries of such an outdoor seating area shall be the front of the Unit, the curb of the adjacent street and lines extending from the side boundaries of the Unit to such curb. All outdoor seating shall be placed, used and maintained in strict accordance with the plan for same approved by the Association.

Without limiting the generality of the obligation of all Persons to keep their adjacent Common Areas free of litter and debris, those Persons providing outdoor seating shall make appropriate provision for, and take extra care in ensuring, the prompt removal of any litter or debris generated by virtue of the use of the outdoor seating area.

3. Solicitation, Etc. No Person, other than the Association or its designee, shall directly or through any third parties solicit business or engage in any promotional activities or distribute any handbills or other promotional or advertising materials of any kind within any portion of The Properties (except within the Person’s Unit and then only to the extent such advertising materials or promotional activities are intended solely to promote sales of the items sold within the Unit and are not also intended to promote or publicize any business or attraction not located within The Properties). No Person, other than the Association or its designee, shall solicit membership in or contributions for any organization, group, association or any other purpose or permit any other third parties to do the same anywhere in The Properties, without the Association’s prior written consent, which consent the Association may withhold in its sole and absolute discretion. Canvassing, soliciting, and peddling within any portion of The Properties is prohibited, and all Persons shall cooperate to prevent the same. No person shall, in or on any part of The Properties:

1 Engage in any conduct that might tend to interfere with or impede the use of any of the Common Areas by any customer, business invitee, employee, occupant or tenant of The Properties, create a disturbance, attract attention, or harass, annoy, disparage, or be detrimental to the interest of any of the retail, commercial or other establishments within The Properties.

2 Throw, discard, or deposit any paper, glass, or extraneous matter of any kind, except in a designated trash receptacle, or create litter hazards of any kind.

3 Use any sound making device of any kind or create and produce in any manner noise or sound that is annoying, unpleasant or distasteful to any other tenant, occupant, or adjacent resident.

4 Deface,  damage,   or demolish any  sign,  light standard  or fixture, landscaping  material,   or other improvement within The Properties,  or the property of customers,   business   invitees,   or  employees,   occupants   or  tenants  situated  within The Properties.

  

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5. Parking. No Person shall use any automobile parking areas for any purpose except for the parking of motor vehicles during the period of time the occupant(s) of such motor vehicles are working in or are customers or business invitees of retail or commercial establishments within The Properties. Usage of parking spaces shall be in common with all other Persons. Additionally, all Persons shall abide by all posted roadway signs on or about the parking facilities and all motor’ vehicles shall be parked in an orderly manner within the painted lines defining the individual parking spaces. Trailers, trucks or cars shall not be permitted to remain parked overnight within The Properties, whether loaded, unloaded or partially loaded. The Association shall have the right to tow away any vehicle which is in violation of these Rules and Regulations as provided in the Declaration. No Owner, tenant or employee of any Owner or tenant may park on Main Street.

6. Deliveries/Loading/Unloading.  All deliveries  to the  Units  and  loading  and unloading of goods shall be done only at the rear entrance(s) to the Units, or as may be otherwise determined by the Association from time to time.

7. Exterior Appearance.  No Person shall place or install any show cases, awnings, window coverings, shades, lighting, signs, canopies, or any other item or article, in front of or affixed to any part of the exterior of a Unit or any other portion of The Properties which would affect the visual appearance of same, without the Association’s prior written consent, which consent the Association may withhold in its sole and absolute discretion.

8. Waiver. No release or waiver by the Association of any provisions herein shall be enforceable by a Person unless in writing and executed by the Association. The failure by the Association to insist upon the strict performance of any of the terms or provisions hereof shall not be deemed a waiver of any rights or remedies of the Association or a waiver of any subsequent violation or failure of compliance with these Rules and Regulations.

9. Amendment.    The Association shall have the right to promulgate additional Rules and Regulations or amend or rescind any of the foregoing Rules and Regulations from time to time as the Association deems suitable, including, without limitation, for the care and cleanliness of The Properties and the conduct of a first class retail shopping/commercial/entertainment district.   All Persons shall comply with all new or amended Rules and Regulations upon receipt of written notice of the same from the Association.

10. Conflict with Leases.  These Rules and Regulations are in addition to and shall not be construed to in any way modify or amend the terms, provisions, agreements, covenants and conditions of any lease for any portions of The Properties or any rules and regulations established pursuant to same.  In the event of any conflict between these Rules and Regulations and a lease, the terms and provisions of the more restrictive shall prevail.

11. Customers’ Store Entrance. All customers must enter the Units only at the front entrance(s) to same, or as may be otherwise determined by the Association from time to time.

12. Sign  Criteria.   No signage shall be affixed to any window.   Any  hang-down signs, etc. shall be within the interior and shall not be less than eighteen (18) inches from the store front window of the Unit.

PART II – MINIMUM MAINTENANCE STANDARDS

1. Maintenance Generally. Each Unit shall be kept near, clean, well maintained and in good repair at all times, and the Owner thereof shall be responsible for all ongoing maintenance and upkeep of the Unit in accordance with the Declaration and these Minimum Maintenance Standards.

2. Windows.   All Persons will keep the inside and outside of all glass in the doors and windows of their respective Unit clean, and shall replace promptly, at its expense, any plate glass or window glass which may become cracked or broken.

3. Sidewalks, etc. All sidewalks and other Common Areas contiguous to Units shall be kept clean and free or all times of trash, dirt, rubbish or debris of any kind.

4. Signs. All approved signs erected, placed or installed shall be maintained by the Person responsible for same in good repair and in a neat, clean, and orderly condition.

5.  Trash and Garbage.   All Persons shall store all trash and garbage in containers within the Unit and/or in a location within the Common Areas designated by the Association. All trash and garbage shall be packed in leak-resistant, odor resistant bags or containers prior to disposal. All boxes or cartons shall be broken down and/or torn as necessary so as to be easily accommodated in the trash and garbage containers. No Person shall place any material in any trash or garbage container which cannot be disposed of in the ordinary and customary course of trash and garbage disposal. Any garbage or trash containing food, food waste or other materials which may emanate odors must be retained in refrigerated or frozen containers and may not be placed outside of a Unit except at such time as such garbage and trash is being immediately hauled away for disposal.

6. Enforcement by Association. If any Person violates or fails to comply with any of maintenance obligations as set forth in these Minimum Maintenance Standards or the Declaration  promptly   after  written  notice  from   the   Association  of  such  violation  or noncompliance, then the  Association or its duly appointed employees, agents or contactors shall have the right to undertake such acts as may be reasonably necessary to cure or eliminate such violation or noncompliance at the sole cost of the Owner of the applicable Unit, which cost shall constitute Remedial Assessments un

  

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Exhibit D

 

Tenant Improvements

[                                                                                                                          ]

  

36

  

[                                                                                                                                     ]

                  

  

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