Document:

ex-10_7.htm

Exhibit 10.7

 

Prepared by: Groome, Tuttle, Pike & Blair

STATE OF NORTH CAROLINA

COUNTY OF CALDWELL

LEASE AGREEMENT

THIS LEASE AGREEMENT made and entered into this the 1st day of April, 2007, by and between Neptune, Inc., a North Carolina corporation, hereinafter referred to as Lessor, and North American Bio-Energies, LLC, a/k/a Foothills Bio-Energies, a North Carolina limited liability company, hereinafter referred to as Lessee;

WITNESSETH:

That Lessor, in consideration of the rents and covenants stated herein, and subject to the terms and conditions hereinafter set forth, does hereby lease and demise to the Lessee and the Lessee hereby leases from the Lessor the following described premises and personal property:

	
1.

	
REAL PROPERTY.  A portion of that property described in Deed Book 517, at Page 311, Caldwell County Registry, consisting of the plant building and associated real property and improvements thereon.  Excepted from the foregoing premises are the offices of Lessor, Lessor’s research and development building, and warehouse.

This Lease is executed upon the following terms and conditions:

	
2.

	
TERM.  The term of this Lease shall be for a period of five (5) years commencing on the 1st day of April, 2007.  Provided all rentals and other conditions of this Lease have been paid and met during the initial term of this Lease, Lessee may renew this Lease for subsequent five year terms upon any further conditions and rentals to which the parties may agree.

	
3.

	
PERMITTED USES.  The real and personal property may be used for the sole purpose of producing bio-diesel fuels and related products and the research and the marketing of bio-diesel products and associated or affiliated products.  Other uses may be permitted with the written agreement of the Lessor which shall not be unreasonably withheld.

	
4.

	
MAINTENANCE.  Lessee shall be responsible for all maintenance and repair of the premises, improvements and personal property.  If any of the leased personal property or other equipment fails or is destroyed or is no longer useful for any reason, Lessor has no obligation to replace or repair the same nor does Lessee have any obligation to replace or repair the same.

  

  

  

	
5.

	
RENTAL.  As rental, Lessee shall pay all annual ad valorem taxes on the real and personal property leased, as well as any lawful assessment, shall maintain and pay all premiums for public liability, fire and casualty insurance on the premises and personal property, the amount and extent of coverage to be satisfactory to Lessor.  Lessee shall provide copies of all insurance policies and Lessor shall be named as loss payee on such insurance policies.

	
6.

	
TERMINATION BY DEFAULT.  In the event that Lessee shall fail to pay any rent when due and such failure shall continue for twenty (20) days after said due date, or if Lessee shall fail to observe or shall violate any other term or condition of this Lease, and if such failure or violation shall continue for a period of sixty (60) days, then Lessor may deem Lessee to be in default, and the term of this leasehold interest as well as Lessee’s rights and privileges thereunder, shall cease and this Lease shall be forfeited and Lessor shall be entitled to re-enter and take possession of the demised premises, to exclude Lessee therefrom and to hold same free from any claims of Lessee.  Such lease forfeiture shall not act to relieve Lessee of any obligations hereunder which may have accrued prior to such termination.

	
7.

	
TERMINATION.  Lessee may at any time execute and deliver to Lessor a surrender agreement, subject to Lessor’s approval as to form, to be effective sixty (60) days after receipt by Lessor, covering all, but not less than all, of the demised premises, and may thereby surrender this Lease and be relieved from all obligations hereunder except those which shall have accrued prior to the effective date of such surrender.  After the first year of the term of this Lease, Lessor may terminate this Lease at anytime upon giving the Lessee six (6) months notice of such termination.

	
8.

	
INDEMNIFICATION.  Lessee shall save harmless and indemnify Lessor from and against any and all claims, damages, expenses (including the costs of investigation and defense), fines penalties, losses and liability asserted by any third party and arising from or connected with Lessee’s exercise and performance of its rights and duties under this Lease, Lessee’s activities, operations, use, control, maintenance, or management of demised premises or any condition related to the demised premises.  In the event of any claim covered by this Paragraph, Lessee shall resist or defend same at its expense with counsel satisfactory to Lessor.

	
9.

	
RIGHT OF REFUSAL.  Lessor shall not sell or convey the leased property without first giving to Lessee the opportunity to purchase it.  Prior to the Lessor’s acceptance of any offer to purchase, the Lessor shall deliver any outside offer to Lessee.  Lessee shall then have five (5) days to provide the Lessor with an offer to purchase.  If Lessee’s offer is similar or more favorable for the Lessor in all significant or material terms, the Lessor shall accept Lessee’s offer.  If Lessee’s

  

  

  

offer is not delivered to Lessor within five (5) days, or if Lessee’s offer is less favorable than outside offer in one or more significant or material terms, then Lessor may accept Lessee’s offer, or Lessor may accept the outside offer, reject it, or submit a counter-offer to the outside prospective purchaser.  Subsequent counter-offers between the Lessor and outside prospective purchaser need not be submitted to Lessee; however, if the foregoing process does not result in a contract that is consummated, the Lessee shall maintain the right to meet subsequent outside offers on the same terms set forth above.  In any event, the Lessee’s right of first refusal shall expire 60 days after the termination of the Lease.

	
10.

	
UTILITIES.  Lessee shall pay all utilities associated with the leased premises and personal property.

	
11.

	
ASSIGNABILITY.  The lease is assignable by Lessee with written notice of Lessee to Lessor.

	
12.

	
RELATIONSHIP OF THE PARTIES.  The relationship of the parties shall be that of Lessor and Lessee and not that of partners, joint venturers, subcontractors, employees or agent.  Neither shall have the right to assume or create any obligations or responsibilities of any type in the name of the other party.

	
13.

	
MISCELLANEOUS.

	
  

	
1.

	
The waiver by either party of a breach of any provisions of this Lease shall constitute a waiver only as to that specific breach and not a waiver of any future breach.

	
  

	
2.

	
This Lease shall be governed by the laws of North Carolina.

	
  

	
3.

	
This Lease, together with all exhibits hereto, supersedes all prior understandings of the parties and constitutes the sole understanding of the parties with respect to the subject matter hereof.  No modifications or amendments to the terms of this Lease shall be binding unless in writing and properly executed by the parties.

  

  

  

IN WITNESS WHEREOF, the parties hereto have set their hands and seals in duplicate originals, the day and year first above written.ex-10_69.htm

Bonds.com 10-K

 

Exhibit 10.69

 

AMENDMENT NO. 1 TO SECURED CONVERTIBLE NOTE AND WARRANT PURCHASE AGREEMENT AND EXERCISE OF EXTENSION RIGHT

This AMENDMENT NO. 1 TO SECURED CONVERTIBLE NOTE AND WARRANT PURCHASE AGREEMENT AND EXERCISE OF EXTENSION RIGHT (this “Amendment”), dated as of June 22, 2010, is entered into by and among Bonds.com Group, Inc., a Delaware corporation (the “Company”), and Nevaheel Consortium LLC, a Nevada limited liability company (“Nevaheel”).  Nevaheel.  This Amendment (a) amends the Secured Convertible Note and Warrant Purchase Agreement, dated as of May 28, 2010, by and among the Company, Nevaheel and the other parties listed on Exhibit A thereto (the “Purchase Agreement”) in the manner set forth herein, and (b) constitutes irrevocable written notice to exercise the Extension Right (as such term is defined in the Secured Convertible Promissory Notes issued pursuant to the Purchase Agreement (the “Notes”).  Nevaheel is the holder of a majority in principal amount of all principal outstanding under the Notes (the “Majority Holder”) and also the Agent for the Purchasers (as defined and contemplated in the Purchase Agreement).  Nevaheel is entering into this Amendment in both its capacity as Majority Holder and Agent.  Capitalized terms used and not defined in this Amendment have the meanings given to them in the Purchase Agreement.

Background

The Company and Nevaheel (in its capacity as Agent) desire to amend the Purchase Agreement in the manner set forth herein, and Nevaheel (in its capacity as Majority Holder) desires to exercise the Extension Right.  Pursuant to Section 8(g) of the Purchase Agreement, any term of the Purchase Agreement may be amended or waived with the written consent of the Company and the Agent, and any amendment or waiver so effected shall be binding upon each of the Purchasers.  Pursuant to Section 1(b) of the Notes, the Majority Holder has the right to exercise the Extension Right with respect to the Note held by the Majority Holder and all other Notes.  Additionally, the Company is considering a transaction or series of transactions pursuant to which holders of outstanding warrants and other rights to purchase shares of the Company’s capital stock would exchange and cancel those warrants and other rights for newly issued shares of the Company’s capital stock (the “Potential Transaction”), and Nevaheel (in its capacity as Majority Holder and Agent) wishes to consent to such transaction and waive any restrctions in the Purchase Agreement with respect thereto.  Accordingly, the Company and Nevhaeel are executing and delivering this Amendment in order to amend the terms of the Purchase Agreement in the manner set forth herein, evidence the irrevocable exercise of the Extension Right and provide for such consent and waiver.

Agreement

In consideration of the foregoing premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

Section 1.         Amendment to Section 1(a)(iii).  Section 1(a)(iii) of the Purchase Agreement is amended in all respects necessary to provide that the 14 day period contemplated by clause (A) thereof is amended and extend such that the Company may consummate Additional Closings through and until 11:59 PM EDT on July 14, 2010.

Section 2.         Amendment of Section 2.  Section 2 of the Purchase Agreement is amended by deleting Section 2(u) thereof in its entirety.  For avoidance of doubt, the representation and warranty set forth therein shall no longer be effective, and any prohibition or limitation required or implied thereby shall be of no further force or effect and is eliminated and waived in its entirety.

  

  

  

Section 3.         Exercise of the Extension Right.  Nevaheel hereby irrevocably exercises the Extension Right and extends the maturity date of its Note and all other Notes for a period of one year.  As a result the Initial Maturity Date of all of the Notes is extended from May 28, 2011 to May 28, 2012 (referred to in the Notes as the Extended Maturity Date).  The Company shall promptly issue to Nevaheel and the holders of the other Notes the Additional Warrants contemplated by the Notes.

Section 4.         Consent and Waiver.  Pursuant to Sections 4 and 8(g) of the Purchase Agreement and any other applicable term or provision of the Purchase Agreement, Notes or Warrants, Nevaheel hereby consents to the Company pursuing and consummating the Potential Transaction and waives any and all restrictions with respect thereto under the Purchase Agreement, Notes or Warrants.  For avoidance of doubt and notwithstanding anything herein to the contrary, the foregoing shall not in any way be construed as (a) an acceptance by Nevaheel or any other Purchaser of any offer included in the Proposed Transaction, (b) an agreement by Nevaheel or any other Purchaser to cancel, exchange or otherwise alter or amend their Warrants pursuant to the Proposed Transaction, or (c) to participate in any manner in the Proposed Transaction, none of which shall be deemed to have been accepted or agreed to by Nevaheel or any other Purchaser unless and until any offer included in the Proposed Transaction is communicated to them and they separately execute and deliver applicable documents with respect thereto.

Section 5.         Effect of Modification and Amendment of Purchase Agreement.  The Purchase Agreement shall be deemed to be modified and amended solely in accordance with the express provisions of this Amendment and the respective rights, duties and obligations of the parties under the Purchase Agreement shall continue to be determined, exercised and enforced under the Purchase Agreement subject in all respects to the modifications and amendments set forth in this Amendment.  All the other terms of the Purchase Agreement shall continue in full force and effect.  In the event of inconsistency between the terms of this Amendment and the terms of the Purchase Agreement, the terms of this Amendment shall govern.

Section 6.         Counterparts.  This Amendment may be executed in any number of counterparts, each of which shall be deemed an original instrument, and all of which together shall constitute one agreement.  A facsimile or electronic signature shall be considered due execution and shall be binding upon the signatory thereto with the same force and effect as if the signature were an original, not a facsimile or electronic signature.

Section 7.         Governing Law.  This Amendment and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of New York, without giving effect to principles of conflicts of law.

 

Section 8.         Counsel.  Each party to this Amendment acknowledges that Hill, Ward &  Henderson, P.A. acted solely as counsel to the Company in connection with the Purchase Agreement and this Amendment, and that Agent was encouraged to retain and either retained or had sufficient opportunity to retain independent legal counsel and other advisors in connection with the Agreement and this Amendment.

(Signature Pages Follow)

  

2

  

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date set forth above.

	
BONDS.COM GROUP, INC.

	  
	  	  	  
	
By:

	

/s/ Michael Sanderson

	  
	
Name:

	
Michael Sanderson

	  
	
Title:

	
Chief Executive Officer

	  
	
Date:

	
June 22, 2010

	  

	
NEVAHEEL CONSORTIUM LLC

 

	  
	  	  	  
	
By:

	

/s/ Michael Sanderson

	  
	
Name:

	
Michael Sanderson

	  
	
Title:

	
Chief Executive Officer

	  
	
Date:

	
June 22, 2010

	  

 

 

[SIGNATURE PAGE TO AMENDMENT NO.1 TO SECURED CONVERTIBLE NOTE AND WARRANT PURCHASE AGREEMENT]

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