Document:

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                                                                    EXHIBIT 10.3

                                                             [LOGO APPEARS HERE]

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Existing Lease Abstract

Building:                45 - 18 Court Square -- LIC 3/rd/ Fl

Lease Date:              April 28, 1999

Landlord:                45 - 18 Court Square, LLC

Tenant:                  Community Networks

Premises:                Entire 3/rd/Floor

Rentable Area:           Approximately 20,000 RSF

Lease Term:              Five (5)Years

Lease Commencement:      Upon substantial completion of Landlord's work -
                         estimated to be 9/1999

Lease Expiration:        Five (5)years from substantial completion of Landlord'
                         work

Rent Commencement:       Upon substantial completion of Landlord's work -
                         estimated to be 9/1999

Base Rent:               Years 1 - 3: $18.50 pRSF
                         Years 4 - 5: $19.50 pRSF

Electricity:             Sub-meter plus a 3% administrative fee.

Real Estate Taxes:       Tenant shall pay their proportionate share of a
                         direct pass-through of actual Real Estate Tax
                         increases over and above a 1999/2000 fiscal year.

Proportionate Share:     16 2/3%

Operating Expense:       Tenant shall pay their proportionate share of a direct
                         pass-through of actual operating expense increases in
                         excess of the 1999 calendar year.

Use:                     General Office

Sublet/Assignment:       Tenant may sublet all or a portion of the premises or
                         assign the lease with prior written consent of owner,
                         which may not be unreasonably withheld or delayed.
                         Landlord shall have the right to half of the sublease
                         profits.

Termination Option(s):   N/A

Expansion Option(s):     Tenant shall have an ongoing Right of First Offer on
                         any vacant space in the building.

Security Deposit:        $32,500

Renewal Option(s):       Tenant shall have a five (5) year renewal option.

                                                                           Equis
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<PAGE>

                           [LETTERHEAD APPEARS HERE]

June 23, 1999

Mr. Scott Matukas
Community Networks
45-18 Court Square
Long Island City, NY 11101

RE: Lease for Third Floor

Dear Scott:

Enclosed please find one executed copy of the lease for the above referenced
premises. We have already started the filing process to obtain the Permit so
that this work may commence as soon as possible.

Immediately upon receipt of the specifications for the electric work in the
"Network Room" I will price same and forward on to you for payment in accordance
with our understanding.

I am very please that we were able to work this out and look forward to a long
relationship with you and your company in the future.

Very truly yours,

/s/ Alan Zaretsky/RR
Alan Zaretsky
45-18 COURT SQUARE LLC

kk

Enc.

Via Federal Express
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                          STANDARD FORM OF OFFICE LEASE
================================================================================

Agreement of Lease, made as of this 28th day of April 1999, between 45-18 Court
Square, LLC having an office at 60 Morrow Ave., Scarsdale, New York 10583

Party of the first part, hereinafter referred to as OWNER, and Coaxicom, Inc.
(dba Community Network/Community Telephone)

                    Party of the second part, hereinafter referred to as TENANT:
Witnesseth: Owner hereby leases to Tenant and Tenant hereby hires from Owner
approximately 20,000 square feet (the entire third floor) as per attached plan
designated Suite 300

in the building known as 45-18 Court Square
in the Borough of Queens, city of New York, for the term of Five (5) years

      (or until such term shall sooner cease and expire as hereinafter provided)
                                                               to commence on []
                 1st day of * nineteen hundred and ninety-nine, and to end on []
                     day of * 2004
both dates inclusive, at an annual rental rate of *
* See Rider annexed, Article 40.

which Tenant agrees to pay in lawful money of the United States which shall be
legal tender in payment of all debts and dues, public and private, at the time
of payment, in equal monthly installments in advance on the first day of each
month during said term, at the office of Owner or such other place as Owner may
designate, without any set off or deduction whatsoever, except that Tenant shall
pay the first                   monthly installment(s) on the execution hereof
(unless this lease be a renewal).
     In the event that, at the commencement of the term of this lease, or
thereafter, Tenant shall be in default in the payment of rent to Owner pursuant
to the terms of another lease with Owner or With Owner's predecessor in
interest, Owner may at Owner's option and without notice to Tenant add the
amount of such arrears to any monthly installment of rent payable hereunder and
the same shall be payable to Owner as additional rent.
     The parties hereto, for themselves, their heirs, distributees, executors,
administrators, legal representatives, successors and assigns, hereby convenant
as follows:
Rent      1. Tenant shall pay the rent as above and as hereinafter provided.
Occupancy 2. Tenant shall use and occupy demised premises for general offices
             and for no other purpose.

Tenant Alterations:

3. Tenant shall make no changes in or to the demised premises of any nature
without Owner's prior written consent. Subject to the prior written consent of
Owner, and to the provisions of this article, Tenant at Tenant's expense, may
make alterations, installations, additions or improvements which are non-
structural and which do not affect utility services or plumbing and electrical
lines, in or to the interior of the demised premises by using contractors or
mechanics first approved by Owner. Tenant shall, before making any alterations,
additions, installations or improvements, at its expense, obtain all permits,
approvals and certificates required by any governmental or quasi-governmental
bodies and (upon completion) certificates of final approval thereof and shall
deliver promptly duplicates of all such permits, approvals and certificates to
Owner and Tenant agrees to carry and will cause Tenant's contractors and sub-
contractors to carry such workman's compensation, general liability, personal
and property damage insurance as Owner may require. If any mechanic's lien is
filed against the demised premises, or the building of which the same forms a
part, for work claimed to have been done for, or materials furnished to, Tenant,
whether or not done pursuant to this article, the same shall be discharged by
Tenant within thirty days thereafter, at Tenant's expense, by filing the bond
required by law. All fixtures and all paneling, partitions, railings and like
installations, installed in the premises at any time, either by Tenant or by
Owner in Tenant's behalf, shall, upon installation, become the property of Owner
and shall remain upon and the surrendered with the demised premises unless
Owner, by notice to Tenant no late than twenty days prior to the date fixed as
the termination of this lease, elects to relinquish Owner's right thereto and to
have them removed by Tenant, in which event the same shall be removed from the
premises by Tenant prior to the expiration of the lease, at Tenant's expense.
Nothing in this Article shall be construed to give Owner title to or to prevent
Tenant's removal of trade fixtures, moveable office furniture and equipment, but
upon removal of any such from the premises or upon removal of other
installations as may be required by Owner, Tenant shall immediately and at its
expense, repair and restore the premises to the condition existing prior to
installation and repair any damage to the demised premises or the building due
to such removal. All property permitted or required to be removed, by Tenant at
the end of the term remaining in the premises after Tenant's removal shall be
deemed abandoned and may, at the election of Owner, either be retained as
Owner's property or may be removed from the premises by Owner, at tenant's
expense.

Maintenance and Repairs

4. Tenant shall, throughout the term of this lease, take good care of the
demised premises and the fixtures and appurtenances therein. Tenant shall be
responsible for all damage or injury to the demised premises or any other part
of the building and the systems and equipment thereof, whether requiring
structural or nonstructural repairs caused by or resulting from carelessness,
omission, neglect or improper conduct of Tenant, Tenant's subtenants, agents,
employees, invitees or licensees, or which arise out of any work, labor, service
or equipment done for or supplied to Tenant or any subtenant or arising out of
the installation, use or operation of the property or equipment of Tenant or any
subtenant. Tenant shall also repair all damage to the building and the demised
premises caused by the moving of Tenant's fixtures, furniture and equipment.
Tenant shall promptly make, at Tenant's expense, all repairs in and to the
demised premises for which Tenant is responsible, using only the contractor for
the trade or trades in sugestion, selected from a list of at least two
contactors per trade submitted by Owner. Any other repairs in or to the building
or the facilities and systems thereof for which Tenant is responsible shall be
performed by Owner at the Tenant's expense. Owner shall maintain in good working
order and repair the exterior and the structural portions of the building,
including the structural portions of its demised premises, and the public
portions of the building interior and the building plumbing, electrical, heating
and ventilating systems (to the extent such systems presently exist) serving
the demised premises. Tenant agrees to give prompt notice of any defective
condition in the premises for which Owner may be responsible hereunder. There
shall be no allowance to Tenant for diminution of rental value and no liability
on the part of Owner by reason of inconvenience, annoyance or injury to business
arising from Owner or others making repairs, alterations, additions or
improvements in or to any portion of the building or the demised premises or in
and to the fixtures, appurtenances or equipment thereof. It is specifically
agreed that Tenant shall not be entitled to any setoff or reduction of rent by
reason of any failure of Owner to comply with the covenants of this or any other
article of this Lease. Tenant agrees that Tenant's sole remedy at Law in such
instance will be by way of an action for damages for breach of contract. The
provisions of this Article 4 shall not apply in the case of fire or other
casualty which are dealt with in Article 9 hereof.

Window Cleaning:

5. Tenant will not clean nor require, permit, suffer or allow any window in the
demised premises to be cleaned from the outside in violation of Section 202 of
the Labor Law or any other applicable law or of the Rules of the Board of
Standards and Appeals, or of any other Board or body having or asserting
jurisdiction.

Requirements of Law, Fire Insurance, Floor Loads:

6. Prior to the commencement of the lease term, if Tenant is then in possession,
and at all times thereafter, Tenant, at Tenant's sole cost and expense, shall
promptly comply with all present and future laws, orders and regulations of all
state, federal, municipal and local governments, departments, commissions and
boards and any direction of any public officer pursuant to law, and all orders,
rules and regulations of the New York Board of Fire Underwriters, Insurance
Services Office, or any similar body which shall impose any violation, order or
duty upon Owner or Tenant with respect to the demised premises, whether or not
arising out of Tenant's use or manner of use thereof, (including Tenant's
permitted use) or, with respect to the building if arising out of Tenant's
<PAGE>

use of manner of use of the premises or the building (including the use
permitted under the lease). Nothing herein shall require Tenant to make
structural repairs or alterations unless Tenant has, by its manner of use of the
demised or method of operation therein, violated any such laws, ordinances,
orders, rules, regulations or equipments with respect thereto Tenant may, alter
seeming Owner to Owner's satisfaction against all damages, interest, penalties
and expenses, including, but not limited to, reasonable attorney's fees, by cash
deposit or by surety bond in an amount and in a company satisfactory to Owner,
contest and appeal any such laws, ordinances, orders, rules, regulations or
requirements provided same is done with all reasonable promptness and provided
such appeal shall not subject Owner to prosecution for a criminal offense or
constitute a default under any lease or mortgage under which Owner may be
obligated, or cause the demised premises or any part thereof to be condemmed or
vacated. Tenant shall not do or permit any act or thing to be done in or to the
demised premises which is contrary to law, or which will invalidate or be in
conflict with public liability, fire or other policies of insurance at any time
carried by or for the benefit of Owner with respect to the demised premises or
the building of which the demised premises form a part, or which shall or might
subject Owner to any liability or responsibility to any person or for property
damage. Tenant shall not keep anything in the demised premises except as now or
hereafter permitted by the Fire Department, Board of Fire Underwriters, Fire
Insurance Rating Organization or other authority having jurisdiction, and then
only in such manner and such quantity as not to increase the rate for fire
insurance applicable to the building, nor use the premises in a manner which
will increase the insurance rate for the building or any property located
therein over that in effect prior to the commencement of Tenant's occupancy.
Tenant shall pay all costs, expenses, fines, penalties, or damages, which may be
imposed upon Owner by reason of Tenant's failure to comply with the provisions
of this article and if by reason of such failure the fire insurance rate shall,
at the beginning of the lease or at any time thereafter, be higher than it
otherwise would be, then Tenant shall reimburse Owner, as additional rent
hereunder, for that portion of all fire insurance premiums thereafter paid by
Owner which shall have been charged because of such failure by Tenant. In any
action or proceeding wherein Owner and Tenant are parties, a schedule or "make
up" of rate for the building or demised premises issued by the New York Fire
Insurance Exchange, or other body making fire insurance rates applicable to said
premises shall be conclusive evidence of the facts therein stated and of the
several items and charges in the fire insurance rates then applicable to said
premises. Tenant shall not place a load upon any floor of the demised premises
exceeding the floor load per square foot area which it was designed to carry and
which is allowed by law. Owner reserves the right to prescribe the weight and
position of all safes, business machines and mechanical equipment. Such
installations shall be placed and maintained by Tenant, at Tenant's expense, in
settings sufficient, in Owner's judgement, to absorb and prevent vibration,
noise and annoyance.

Subordination:

        7. This lease is subject and subordinate to all ground or underlying
leases and to all mortgages which may now or hereafter affect such leases or the
real property of which demised premises are a part and to all renewals,
modifications, consolidations, replacements and extensions of any such
underlying leases and mortgages. This clause shall be self operative and no
further instrument of subordination shall be required by any ground or
underlying lessor or by any mortgagee, affecting any lease or the real property
of which the demised premises are a part. In confirmation of such subordination,
Tenant shall execute promptly any certificate that Owner may request.

Property - Loss, Damage, Reimbursement, Indemnity:

        8. Owner or its agents shall not be liable for any damage to property
of Tenant or of others entrusted to employees of the building, nor for loss of
or damage to any property of Tenant by theft or otherwise, nor for any injury or
damage to persons or property resulting from any cause of whatsoever nature,
unless caused by or due to the negligence of Owner, its agents, servants or
employees. Owner or its agents will not be liable for any such damage caused by
other tenants or persons in, upon or about said building or caused by operations
in construction of any private, public or quasi public work. If at any time any
windows of the demised premises are temporary closed, darkened or bricked up (or
permanently closed, darkened or bricked up, if required by law) for any reason
whatsoever including, but not limited to Owner's own acts, Owner shall not be
liable for any damage Tenant may sustain thereby and Tenant shall not be
entitled to any compensation therefor nor abatement or diminution of rent nor
shall the same release Tenant from its obligations hereunder nor constitute an
eviction. Tenant shall indemnify and save harmless Owner against and from all
liabilities, obligation, damages, penalties, claims, costs and expenses for
which Owner shall not be reimbursed by insurance, including reasonable attorneys
fees, paid, suffered or incurred as a result of any breach by Tenant, Tenant's
agents, contractors, employees, invitees, or licensees, of any covenant or
condition of this lease, or the carelessness, negligence or improper conduct of
the Tenant. Tenant's agents, contractors, employees, invitees or licenses
Tenant's liability under this lease extends to the acts and omissions of any
sub-tenant, and any agent, contractor, employee, invitee or licensee of any sub-
tenant. In case any action or proceeding is brought against Owner by reason of
any such claim. Tenant, upon written notice from Owner, will, at Tenant's
expense, resist or defend such action or proceeding by counsel approved by Owner
in writing, such approval not to be unnreasonably withheld.

Destruction, Use and Other Casualty:

        9. (a) if the demised premises or any part thereof shall be damaged by
fire or other casualty, Tenant shall give immediate notice thereof to Owner and
this lease shall continue in full force and effect except as hereinafter set
forth. (b) if the demised premises are partially damaged or tendered partially
unusable by fire or other casualty, the damages thereto shall be repaired by and
at the expense of Owner and the rent, until such repair shall be substantially
completed, shall be apportioned from the day following the casualty according to
the part of the premises which is usable. (c) if the demised premises are
totally damaged or rendered wholly unusable by fire or other casualty, then the
rent shall be proportionately paid up to the time of the casualty and
thenceforth shall cease until the date when the premises shall have been
repaired and restored by Owner, subject in Owner's right to elect not to restore
the same as hereinafter provided. (d) if the demised premises are rendered
wholly unusable or (whether or not the demised premises are damaged in whole or
in part) if the building shall be so damaged that Owner shall decide to demolish
it or to rebuild it, then, in any of such events, Owner may effect to terminate
this lease by written notice to Tenant, given within 90 days after such fire or
casualty, specifying a date for the expiration of the lease, which date shall
not be more than 60 days after the giving of such notice, and upon the date
specified in such notice the term of this lease shall expire as fully and
completely as if such date were the date set forth above for the termination of
this lease and Tenant shall forthwith quit, surrenders and vacate the premises
without prejudice however, to Landlord's rights and remedies against Tenant
under the lease provisions in effect prior to such termination, and any rent
owing shall be paid up to such date and any payments of rent made by Tenant
which were on account of any period subsequent to such date shall be returned to
Tenant. Unless Owner shall serve a termination notice as provided for herein,
Owner shall make the repairs and restorations under the conditions of (b) and
(c) hereof, with all reasonable expedition, subject to delays due to adjustment
of insurance claims, labor troubles and causes beyond Owner's control. After any
such casualty, Tenant shall cooperate with Owner's restoration by removing from
the premises as promptly as reasonably possible, all of Tenants salvageable
inventory and movable equipment, furniture, and other property. Tenant's
liability for rent shall resume five (5) days after written notice from Owner
that the premises are substantially ready for Tenant's occupancy. (e) Nothing
contained hereinabove shall relieve Tenant from liability that may exist as a
result of damage from fire or other casualty. Notwithstanding the foregoing,
each party shall look first to any insurance in its favor before making any
claim against the other party for recovery for loss or damage resulting from
fire or other casualty, and to the extent that such insurance is in force and
collectibale and to the extent permitted by law, Owner and Tenant each hereby
releases and waivers all right of recovery against the other or any one claiming
through or under each of them by way of subrogation or otherwise. The foregoing
release and waiver shall be in force only if both releasors' insurance policies
contain a clause providing that such a release or waiver shall not invalidate
the insurance. If, and to the extent, that such waiver can be obtained only by
the payment of additional premiums, then the party benefitting from the waiver
shall pay such premium within ten days after written demand or shall be deemed
to have agreed that the party obtaining insurance coverage shall be free of any
further obligation under the provisions hereof with respect to waiver of
subrogation. Tenant acknowledges that Owner will not carry insurance on Tenant's
furniture and/or furnishings or any fixtures or equipment, improvements, or
appurtenances removable by Tenant and agrees that Owner wil not be obligated to
repair any damage thereto or replace the same. (1) Tenant hereby waives the
provisions of Section 227 of the Real Property Law and agrees that the
provisions of this article shall govern and control in lieu thereof.

Eminent Domain:

        10. If the whole or any part of the demised premises shall be acquired
or condemned by Eminent Domain for any public or quasi public use or purpose,
then and in that event, the term of this lease shall cease and terminate from
the date of title vesting in such proceeding and Tenant shall have no claim for
the value of any unexpired Term of said lease and assigns to Owner. Tenant's
entire interest in any such award.

Assignment, Mortgage, Etc:

        11. Tenant, for itself, its heirs, distributees, executors,
administrators, legal representatives, successors and assigns, expressly
covenants that it shall not assign, mortgage or encumber this agreement, not
underlet, or suffer or permit the demised premises or any part thereof to be
used by others, without the prior written consent of Owner in each instance.
Transfer of the majority of the stock of a corporate Tenant shall be deemed an
assignment. If this lease be assigned, or if the demised premises or any part
thereof be underlet or occupied by anybody other than Tenant, Owner may, after
default by Tenant, collect rent from the assignee, under-tenant or occupant, and
apply the net amount collected to the rent herein reserved, but no such
assignment, underletting, occupancy or collection shall be deemed a waiver of
this covenant, or the acceptance of the assignee, under-tenant or occupant, as
tenant, or a release of Tenant from the further performance by Tenant of
covenants on the part of Tenant herein contained. The consent by Owner to an
assignment or underletting shall not in any wise be construed to relieve Tenant
from obtaining the express consent in writing of Owner to any further assignment
or underletting.

Electric Current:

        12. Rates and conditions in respect to submetering or rent inclusion, as
the case may be, to be added in RIDER attached hereto. Tenant covenants and
agrees that at all times its use of electric current shall not exceed the
capacity of existing feeders to the building or the risers or wiring
installation and Tenant may not use any electrical equipment which, in Owner's
opinion, reasonably exercised, will overload such installations or interfere
with the use thereof by other Tenants of the building. The change at any time of
the character of electric service shall in no wise make Owner liable or
responsible to Tenant, for any loss damages or expenses which Tenant may
sustain.

Access to Premises:

        13. Owner or Owner's agents shall have the right (but shall not be
obligated) to enter the demised premises. In any emergency at any other other
reasonable times, to examine the same and to make such repairs, replacements and
improvements as Owner may deem necessary and reasonably desirable to the demised
premises or to any other portion of the building or which Owner may elect to
perform. Tenant shall permit Owner to use and maintain and replace pipes and
conduits in and through the demised premises and to erect new pipes and conduits
therein provided they are concealed within the walls, floor, or ceiling. Owner
may, during the progress of any work in the demised premises, take all necessary
materials and equipment into said premises without the same constituting an
eviction nor shall the Tenant be entitled to any abatement of rent while such
work is in progress nor to any damages by reason of loss or interruption of
business or otherwise. Throughout the term hereof Owner shall have the right to
enter the demised premises at reasonable hours for the purpose of showing the
<PAGE>

same to prospective purchasers or mortgages of the building, and during the last
six months of the term for the purpose of showing the same to prospective
tenants. If Tenants is not present to open and permit an entry into the
premises, Owner of Owner's agents may enter the same whenever such entry may be
necessary or permissible by master key or forcibly and provided reasonable care
is exercised to safeguard Tenant's property, such entry shall not render Owner
or its agents liable therefor, nor in any event shall the obligations of Tenant
hereunder be affected. If during the last month of the term Tenant shall have
removed all or substantially all of Tenant's property therefrom Owner may
immediately enter, alter, renovate or redecorate the demised premises without
limitations or abatement or rent, or incurring liability to Tenant for any
compensation and such act shall have no effect on this lease or Tenant's
obligations hereunder.

Vault, Vault Space, Area:

             14. No Vaults, vault space or area, whether or not enclosed or
covered, not within the property line of the building is leased hereunder,
anything contained in or indicated on any sketch, blue print or plan, or
anything contained elsewhere in this lease to the contrary notwithstanding.
Owner makes no representation as to the location of the property line of the
building. All vaults and vault space and all such areas not within the property
line of the building, which Tenant may be permitted to use and/or occupy, is to
be used and/or occupied under a revocable license, and if any such license be
revoked, or if the amount of such space or area be diminished or required by any
federal, state or municipal authority or public utility, Owner shall not be
subject to any liability nor shall Tenant be entitled to any compensation or
diminution or abatement of rent, nor shall such revocation, diminution or
requisition be deemed constructive or actual eviction. Any tax, fee or charge of
municipal authorities for such vault or area shall be paid by Tenant.

Occupancy:

             15. Tenant will not at any time use or occupy the demised premises
in violation of the certificate of occupancy issued for the building of which
the demised premises are a part. Tenant has inspected the premises and accepts
them as is, subject to the riders annexed hereto with respect to Owner's work,
if any. In any event, Owner makes no representation as to the condition of the
premises and Tenant agrees to accept the same subject to violations, whether or
not of record.

Bankruptcy:

             16. (a) Anything elsewhere in this lease to the contrary
notwithstanding, this lease may be cancelled by Owner by the sending of a
written notice to Tenant within a reasonable time after the happening of any one
or more of the following events: (1) the commencement of a case in bankruptcy or
under the laws of any state naming Tenant as the debtor; or (2) the making by
Tenant of an assignment of any other arrangement for the benefit of creditors
under any state statute. Neither Tenant nor any person claiming through or under
Tenant, or by reason of any statute or order of court, shall thereafter be
entitled to possession of the premises demised but shall forthwith quit and
surrender the premises. If this lease shall be assigned in accordance with its
terms, the provisions of this Article 16 shall be applicable only to the party
then owning Tenant's interest in this lease.

             (b) It is stipulated and agreed that in the event of the
termination of this lease pursuant to (a) hereof, Owner shall forthwith,
notwithstanding any other provisions of this lease to the contrary, be entitled
to recover from Tenant as and for liquidated damages an amount equal to the
difference between the rent reserved hereunder for the unexpired portion of the
term demised and the fair and reasonable rental value of the demised premises
for the same period. In the computation of such damages the difference between
any installment of rent becoming due thereunder after the date of termination
and the fair and reasonable rental value of the demised premises for the period
for which such installment was payable shall be discounted to the date of
termination at the rate of four percent (4%) per annum. If such premises or any
part thereof be relet by the Owner for the unexpired term of said lease, or any
part thereof, before presentation of proof of such liquidated damages to any
court, commission or tribunal, the amount of rent reserved upon such reletting
shall be deemed to be fair and reasonable rental value for the part or the whole
of the premises so re-let during the term of the re-letting. Nothing herein
contained shall limit or prejudice the right of the Owner to prove for and
obtain as liquidated damages by reason of such termination, an amount equal to
the maximum allowed by any statute or rule of law in effect at the time when,
and governing the proceedings in which, such damages are to be proved, whether
or not such amount be greater, equal to, or less than the amount of the
difference referred to above.

Default:

             17. (1) If Tenant defaults in fulfilling any of the covenants of
this lease other than the covenants for the payment of rent or additional rent;
or if the demised premises become vacant or deserted; or if any execution or
attachment shall be issued against Tenant or any of Tenant's property whereupon
the demised premises shall be take or occupied by someone other than Tenant; or
if this lease be rejected under SS215 of Title II of the U.S. Code (bankruptcy
code); or if Tenant shall fail to move into or take possession of the premises
within fifteen (15) days after the commencement of the term of this lease, then,
in any one or more of such events, upon Owner serving a written five (5) days
notice upon Tenant specifying the nature of said default and upon the expiration
of said five (5) days, if Tenant shall have failed to comply with or remedy such
default, or if the said default or omission complained of shall be of a nature
that the same cannot be completely cured or remedied within said five (5) day
period, and if Tenant shall not have diligently commenced during such default
within such five (5) day period, and shall not thereafter with reasonable
diligence and in good faith, proceed to remedy or cure such default, then Owner
may serve a written three (3) days' notice of cancellation of this lease upon
Tenant, and upon the expiration of said three (3) days this lease and the term
thereunder shall end and expire as fully and completely as if the expiration of
such three (3) day period were the day herein definitely fixed for the end and
expiration of this lease and the term thereof and Tenant shall then quit and
surrender the demised premises to Owner but Tenant shall remain liable as
hereinafter provided.

             (2) If the notice provided for in (1) hereof shall have been given,
and the term shall expire as aforesaid; of if Tenant shall make default in the
payment of the rent reserved herein or any item of additional rent herein
mentioned or any part of either or in making any other payment herein required;
then and in any of such events Owner may without notice, re-enter the demised
premises either by force or otherwise, and dispossess Tenant by summary
proceedings or otherwise, and the legal representative of Tenant or other
occupant of demised premises and remove their effect and hold the premises as if
this lease had not been made, and Tenant hereby waives the service of notice of
intention to re-enter or to institute legal proceedings to that end. If Tenant
shall make default hereunder prior to the date fixed as the commencement of any
renewal or extention of this lease, Owner may cancel and terminate such renewal
or extension agreement by written notice.

Remedies of Owner and Waiver of Redemption:

             18. In case of any such default, re-entry, expiration and/or
dispossess by summary proceedings or otherwise, (a) the rent shall become
due thereupon and be paid up to the time of such re-entry, dispossess and/or
expiration, (b) Owner may re-let the premises or any part or parts thereof,
either in the name of Owner or otherwise, for a term or terms, which may at
Owner's option be less than or exceed the period which would otherwise have
constituted the balance of the term of this lease and may grant concessions or
free rent or charge a higher rental than that in this lease, and/or (c) Tenant
or the legal representatives of Tenant shall also pay Owner as liquidated
damages for the failure of Tenant to observe and perform said Tenant's covenants
herein contained, any deficiency between the rent hereby reserved and/or
covenanted to be paid and the net amount, if any, of the rents collected on
account of the lease or leases of the demised premises for each month of the
period which would otherwise have constituted the balance of the term of this
lease. The failure of Owner to re-let the premises or any part or parts thereof
shall not release or affect Tenant's liability for damages. In computing such
liquidated damages there shall be added to the said deficiency such expenses as
Owner may incur in connection with re-letting, such as legal expenses,
attorneys' fees, brokerage, advertising and of keeping the demised premises in
good order or for preparing the same for re-letting. Any such liquidated damages
shall be paid in monthly installments by Tenant on the rent day specified in
this lease and any suit brought to collect the amount of the deficiency for any
months shall not prejudice in any way the rights of Owner to collect the
deficiency for any subsequent month by a similar proceeding. Owner, in putting
the demised premises in good order or preparing the same for re-rental may, at
Owner's option, make such alterations, repairs, replacements, and/or decorations
in the demised premises as Owner, in Owner's sole judgment, considers advisable
and necessary for the purpose of re-letting the demised premises, and the making
of such alterations, repairs, replacements, and/or decorations shall not operate
or be construed to release Tenant from liability hereunder as aforesaid. Owner
shall in no event be liable in any way whatsoever for failure to re-let the
demised premises, or in the event that the demised premises are re-let, for
failure to collect the rent thereof under such re-letting, and in no event shall
Tenant be entitled to receive any excess, if any, of such net rents collected
over the sums payable by Tenant to Owner hereunder. In the event of a breach or
threatened breach by Tenant of any of the covenants or provisions hereof, Owner
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. Mention in this lease of any particular remedy, shall not
preclude Owner from any other remedy, in law or in equity. Tenant hereby
expressly waives any and all rights of redemption granted by or under any
present or future laws in the event of Tenant being evicted or dispossessed for
any cause, or in the event of Owner obtaining possession of demised premises, by
reason of the violation by Tenant of any of the covenants and conditions of this
lease, or otherwise.

Fees and Expenses:

             19. If Tenant shall default in the observance or performance of any
term of covenant on Tenant's part to be observed or performed under or by
virtue of any of the terms or provisions in any article of this lease, then,
unless otherwise provided elsewhere in this lease, Owner may immediately or at
any time thereafter and without notice perform the obligation of Tenant
thereunder. If Owner, in connection with the foregoing or in connection with any
default by Tenant in the covenant to pay rent hereunder, makes any expenditures
or incurs any obligations for the payment of money, including but not limited to
attorney's fees, in instituting, prosecuting or defending any action or
proceeding, then Tenant will reimburse Owner for such sums so paid or
obligations incurred with interest and costs. The foregoing expenses incurred by
reason of Tenant's default shall be deemed to be additional rent hereunder and
shall be paid by Tenant to Owner within five (5) days of rendition of any bill
or statement to Tenant therefor. If Tenant's lease term shall have expired at
the time of making of such expenditures of incurring of such obligations, such
sums shall be recoverable by Owner as damages.

Building Alterations and Management:

             20. Owner shall have the right at any time without the same
constituting an eviction and without incurring liability to Tenant therefor to
change the arrangement and/or location of public entrances, passageways, doors,
doorways, corridors, elevators, stairs, toilets or other public parts of the
building and to change the name, number or designation by which the building
may be known. There shall be no allowance to Tenant for diminution of rental
value and no liability on the part of Owner by reason of inconvenience,
annoyance or injury to business arising from Owner or other Tenants making any
repairs in the building or any such alterations, additions and improvements.
Furthermore, Tenant shall not have any claim against Owner by reason of Owner's
imposition of such controls of the manner of access to the building by Tenant's
social or business visitors as the Owner may deem necessary for the security of
the building and its occupants.

No Representations by Owner:

             21. Neither Owner nor Owner's agents have made any representations
or promises with respect to the physical condition of the building, the land
upon which
<PAGE>

it is erected on the demised premises, the rents, leases, expenses of operation
or any other matter or thing affecting or related to the premises except as
herein expressly set forth and no rights, easements or licenses are acquired by
Tenant by implication or otherwise except as expressly set forth in the
provisions of this lease. Tenant has inspected the building and the demised
premises and is thoroughly acquainted with their condition and agrees to take
the same "as is" and acknowledges that the taking of possession of the demised
premises by Tenant shall be conclusive evidence that the said premises and the
building of which the same form a part were in good and satisfactory condition
at the time such possession was so taken, except as to latent defects. All
understandings and agreements heretofore made between the parties hereto are
merged in this contract, which alone fully and completely expresses the
agreement between Owner and Tenant and any executory agreement hereafter made
shall be ineffective to change, modify, discharge or effect an abandonment of
it in whole or in part, unless such executory agreement is in writing and signed
by the party against whom enforcement of the change, modification, discharge or
abandonment is sought.

End of Term:

22. Upon the expiration or other termination of the term of this lease, Tenant
shall quit and surrender to Owner the demised premises, broom clean, in good
order and condition, ordinary wear and damages which Tenant is not required to
repair as provided elsewhere in this lease excepted, and Tenant shall remove all
its property. Tenant's obligation to observe or perform this covenant shall
survive the expiration or other termination of this lease. If the last day of
the term of this Lease or any renewal thereof, falls on Sunday, this lease shall
expire at noon on the preceding Saturday unless it be a legal holiday in which
case it shall expire at noon on the preceding business day.

Quiet Enjoyment:

23. Owner covenants and agrees with Tenant that upon Tenant paying the rent and
addition rent and observing and performing all the terms, covenants and
conditions, on Tenant's part to be observed and performed, Tenant may peaceably
and quietly enjoy the premises hereby demised, subject, nevertheless, to the
terms and conditions of this lease including, but not limited to, Article 31
hereof and to the ground leases, underlying leases and mortgages hereinbefore
mentioned.

Failure to Give Possession:

24. If Owner is unable to give possession of the demised premises on the date of
the commencement of the term hereof, because of the holding-over or retention of
possession of any tenant, undertenant or occupants or if the demised premises
are located in a building being constructed, because such building has not been
sufficiently completed to make the premises ready for occupancy or because of
the fact that a certificate of occupancy has not been procured or for any other
reason, Owner shall not be subject to any liability for failure to give
possession on said date and the validity of the lease shall not be impaired
under such circumstances, nor shall the same be construed in any wise to
extend the term of this lease, but the rent payable hereunder shall be
abated (provided Tenant is not responsible for Owner's inability to obtain
possession) until after Owner shall have given Tenant written notice that the
premises are substantially ready for Tenant's occupancy. If permission is given
to Tenant to enter into the possession of the demised premises or to occupy
premises other than the demised premises prior to the date specified as the
commencement of the term of this lease, Tenant covenants and agrees that such
occupancy shall be deemed to be under all the terms, covenants, conditions and
provisions of this lease, except as to the covenant to pay rent. The provisions
of this article are intended to constitute "an express provision to the
contrary" within the meaning of Section 223-a of the New York Real
Property Law.

No Waiver:

25. The failure of Owner to seek redress for violation of, or to insist upon the
strict performance of any covenant or condition of this lease or of any of the
Rules or Regulations, set forth or hereafter adopted by Owner, shall not prevent
a subsequent act which would have originally constituted a violation from having
all the force and effect of an original violation. The receipt by Owner of rent
with knowledge of the breach of any covenant of this lease shall not be deemed a
waiver of such breach and no provision of this lease shall be deemed to have
been waived by Owner unless such waiver be in writing signed by Owner. No
payment by Tenant or receipt by Owner of a lesser amount than the monthly rent
herein stipulate shall be deemed to be other than on account of the earliest
stipulated rent, nor shall any endorsement or statement of any check or any
letter accompanying any check or payment as rent be deemed an accord and
satisfaction, and Owner may accept such check or payment without prejudice to
Owner's right to recover the balance of such rent or pursue any other remedy in
this lease provided. No act or thing done by Owner or Owner's agents during the
term hereby demised shall be deemed an acceptance of a surrender of said
premises, and no agreement to accept such surrender shall be valid unless in
writing signed by Owner. No employee of Owner or Owner's agent shall have any
power to accept the keys of said premises prior to the termination of the lease
and the delivery of keys to any such agent or employee shall not operate as a
termination of the lease or a surrender of the premises.

Waiver of Trial by Jury:

26. It is mutually agreed by and between Owner and Tenant that the respective
parties hereto shall and they hereby do waive trial by jury in any action,
proceeding or counterclaim brought by either of the parties hereto against the
other (except for personal injury or property damage) on any matters whatsoever
arising out of or in any way connected with this lease, the relationship of
Owner and Tenant, Tenant's use of or occupancy of said premises, and any
emergency statutory or any other statutory remedy. It is further mutually agreed
that in the event Owner commences any summary proceeding for possession of the
premises, Tenant will not interpose any counterclaim of whatever nature or
description in any such proceeding including a counterclaim under Article 4.

Inability to Perform:

27. This Lease and the obligation of Tenant to pay rent hereunder and perform
all of the other covenants and agreements hereunder on part of Tenant to be
performed shall in no wise be affected, impaired or excused because Owner is
unable to fulfill any of its obligations under this lease or to supply or is
delayed in supplying any service expressly or impliedly to be supplied or is
unable to make, or is delayed in making any repair, additions, alterations or
decorations or is unable to supply or is delayed in supplying any equipment or
fixtures if Owner is prevented or delayed from so doing by reason of strike or
labor troubles or any cause whatsoever including, but not limited to, government
preemption in connection with a National Emergency or by reason of any rule,
order or regulation of any department or subdivision thereof of any government
agency or by reason of the conditions of supply and demand which have been or
are affected by war or other emergency.

Bills and Notices:

28. Except as otherwise in this lease provided, a bill, statement, notice or
communication which Owner may desire or be required to give to Tenant, shall be
deemed sufficiently given or tendered if, in writing, delivered to Tenant
personally or sent by registered or certified mail addressed to Tenant at the
building of which the demised premises form a part or at the last known
residence address or business address of Tenant or left at any of the aforesaid
premises addressed to Tenant, and the time of the rendition of such bill or
statement and of the giving of such notice or communication shall be deemed to
be the time when the same is delivered to Tenant, mailed, or left at the
premises as herein provided. Any notice by Tenant to Owner must be served by
registered or certified mail addressed to Owner at the address first herein-
above given or at such other address as Owner shall designate by written notice.

Services Provided by Owners:

29. As long as Tenant is not in default under any of the covenants of this
lease, Owner shall provide: (a) necessary passenger elevator facilities on
business days from 8 a.m. to 6 p.m. and on Saturdays from 8 a.m. to 1 p.m. and
have one elevator subject to call at all other times; (b) heat to the demised
premises when and as required by law, on business days from 8 a.m. to 6 p.m. and
on Saturdays from 8 a.m. to 1 p.m.; (c) water for ordinary lavatory purposes,
but if Tenant uses or consumes water for any other purposes or in unusual
quantities (of which fact Owner shall be the sole judge), Owner may install a
water meter at Tenant's expense which Tenant shall thereafter maintain at
Tenant's expense in good working order and repair to register such water
consumption and Tenant shall pay for water consumed as shown on said meter as
additional rent as and when bills are rendered; (d) cleaning service for the
demised premises on business days at Tenant's expense provided that the same are
kept in order by Tenant. If, however, said premises are to be kept clean by
Tenant, it shall be done at Tenant's sole expense, in a manner satisfactory to
Owner and no one other than persons approved by Owner shall e permitted to enter
said premises or the building of which they are a part for such purpose. Tenant
shall pay Owner the cost of removal of any of Tenant's refuse and rubbish from
the building; (e) if the demised premises are serviced by Owner's air
conditioning/cooling and ventilating system, air conditioning/cooling will be
furnished to tenant from May 15th through September 30th on business days
(Mondays through Fridays, holidays excepted) from 8:00 a.m. to 6:00 p.m., and
ventilation will be furnished on business days during aforesaid hours except
when air conditioning/cooling is being furnished as aforesaid. If Tenant
requires air conditioning/cooling or ventilation for more extended hours or on
Saturdays, Sundays or on holidays, as defined under Owner's contract with
Operating Engineers Local 94-94A, Owner will furnish the same at Tenant's
expense. RIDER to be added in respect to rates and conditions for such
additional service; (f) Owner reserves the right to stop services of the
heating, elevators, plumbing, air conditioning, power systems or cleaning or
other services, if any, when necessary by reason of accident or for repairs,
alterations, replacements or improvements necessary or desirable in the judgment
of Owners for as long as may be reasonably required by reason thereof. If the
building of which the demised premises are a part supplies manually-operated
service elevator, Owner at any time may substitute automatic-control elevator
service and upon ten days' written notice to Tenant, proceed with alterations
necessary therefor without in any wise affecting this lease or the obligation of
Tenant hereunder. The same shall be done with a minimum of inconvenience to
Tenant and Owner shall pursue the alteration with due diligence.

Captions:

30. The Captions are inserted only as a matter of convenience and for reference
and in no way define, limit or describe the scope of this lease nor the intent
of any provisions thereof.

Definitions:

31. The term "office", or "offices", wherever used in this lease, shall not be
construed to mean premises used as a store or stores, for the sale or display,
at any time, of goods, wares or merchandise, of any kind, or as a restaurant,
shop, booth, boothblack or other stand, barber shop, or for other similar
purposes or for manufacturing. The term "Owner" means a landlord or lessor, and
as used in this lease means only the owner, or the mortgagee in possession, for
the time being of the land and building (or the owner of a lease of the building
or of the land and building) of which the demised premises form a part, so that
in the event of any sale or sales of said land and building or of said lease,
or in the event of a lease of said building, or of the land and building, the
said Owner shall be and hereby is entirely freed and relieved of all covenants
and obligations of Owner hereunder, and it shall be deemed and construed without
further agreement between the parties or their successors in interest, or
between the parties and the purchaser, at any such sale, or the said lessee of
the building, or of the land and building, that the purchaser or the lessee of
the building has assumed and agreed to carry out any and all covenants and
obligations of Owner, hereunder. The words "re-enter" and "re-entry" as used in
this lease are not restricted to their technical legal meaning. The term
"business days" as used in this lease shall exclude Saturdays (except such
portion thereof as is covered by specific hours in Article 29 hereof). Sundays
and all days observed by the State or Federal Government as legal holidays and
those designated as holidays by the applicable building service union employees
service contract or by the applicable Operating Engineers contract with respect
to HVAC service.
<PAGE>

authorized to cause such excavation license to enter upon the demised premises
for the purpose of doing such work as said person shall deem necessary to
preserve the wall of the building of which demised premises form a part from
injury or damage and to support the same by proper foundations without any claim
for damages or indemnity against Owner, or diminution or abatement of rent.

Rules and regulations

33.  Tenant and Tenant's servants, employees, agents, visitors, and licensees
shall observe faithfully, and comply strickly with, the Rules and Regulations
and such other and further reasonable Rules and Regulations as Owner or Owner's
agents may from time to time adopt. Notice of any additional rules or
regulations shall be given in such manner as Owner may elect. In case Tenant
disputes the reasonableness of any additional Rule or Regulation hereafter made
or adopted by Owner or Owner's agents, the parties hereto agree to submit the
question of the reasonableness of such Rule or Regulation for decision to the
New York office of the American Arbitration Association, whose determination
shall be final and conclusive upon the parties hereto. The right to dispute the
reasonableness of any additional Rule or Regulation upon Tenant's part shall be
deemed waived unless the same shall be asserted by service of a notice, In
writing upon Owner within ten (10) days after the giving of notice thereof.
Nothing in this lease contained shall be construed to impose upon Owner any duty
or obligation to enforce the Rules and Regulations or terms, covenants or
conditions in any other lease, as against any other tenant and Owner shall not
be liable to Tenant for violation of the same by any other tenant, its servants,
employees, agents, visitors or licensees.

Security:
*
34.  Tenant has deposited with Owner the sum of $ 31,250.00 as security for
the faithful performance and observance by Tenant of the terms, provisions and
conditions of this lease; it is agreed that in the event Tenant defaults in
respect of any of the terms, provisions and conditions of this lease,
including, but not limited to, the payment of rent and additional rent, Owner
may use, apply or retain the whole or any part of the security so deposited to
the extent required for the payment of any rent and additional rent or any other
sum,

[ILLEGIBLE]

including but not limited to, any damages or deficiency in the re-letting
of the premises whether such damages or deficiency accrued before or after
summary proceedings or other re-entry by Owner. In the event that Tenant shall
fully and faithfully comply with all of the terms, provisions, covenant and
conditions of this lease, the security shall be returned to Tenant after the
date fixed as the end of the Lease and after delivery of entire possesion of the
demised premises to Owner. In the event of a sale of the land and building or
leasing of the building, of which the demised premises form a part, Owner shall
have the right to transfer the security to the vendee or lessee and Owner shall
thereupon be released by Tenant from all liability for the return of such
security; and Tenant agrees to look to the new Owner solely for the return of
said security, and it is agreed that the provisions hereof shall apply to every
transfer or assignment made of the security to a new Owner. Tenant further
convenants that it will not assign or encumber or attempt to assign or encumber
the monies deposited herein as security and that neither Owner nor its
successors on assigns shall be bound by any such assignment, encumbrance,
attempted assignment or attempted encumbrance.

Estoppel Certificate

35.  Tenant, at any time, and from time to time, upon at least 10 days'
prior notice by Owner, shall execute acknowledge and deliver to Owner, and/or to
any other person, firm or corporation specified by Owner, a statement certifying
that this Lease is unmodified and in full force and effect (or, if there have
been modifications, that the same is in full force and effect as modified and
stating the modifications), stating the dates to which the rent and additional
rent have been paid, and stating whether or not there exists any default by
Owner under this Lease, and, if so, specifying each such default.

Successors and Assigns:

36.  The covenants, conditions and agreements contained in this lease shall
bind and inure to the benefit of Owner and Tenant and their respective heirs,
distributees, executors, administrators, successors, and except as
otherwise provided in this lease, their assigns.
-------------------------
* Space to be filled in or deleted

In Witness Thereof,  Owner and Tenant have respectively signed and sealed this
lease as of the day and year first above written.

Witness for Owner:                           45-18 COURT SQUARE LLC
                                             ---------------------------------
/s/ Katrine Krasovic                         BY: /s/
--------------------------------             ---------------------------------
                                                       Alan Zaretsky

Witness for Tenant:                          COAXICOM DBA COMMUNITY TELEPHONE
                                             ---------------------------------

/s/ Susan B. Smith                           BY: /s/ Scott Matukus
--------------------------------             ---------------------------------
                                                       Tenant

                                ACKNOWLEDGMENTS

CORPORATE OWNER
STATE OF NEW YORK,    S.S.:
County of

   On this    day of             , 19   , before me

personally came
to me known, who being by me duly sworn, did depose and say that he resides

in                                                                        :

that he is the              of

the corporation described in and which executed the foregoing, as OWNER; that
he knows the seal of said corporation; that the seal affixed to said instrument
is such corporate seal; that it was so affixed by order of the Board of
Directors of said corporation, and that he signed his name thereto by like
order.

                    ------------------------------------------------------------

INDIVIDUAL OWNER
STATE OF NEW YORK,    S.S.:
County of

   On this    day of             , 19   , before me

personally came

to me known and known to me to be the individual
described in and who, as OWNER, executed the foregoing instrument and
acknowledged to me that                          he executed the same.

                    ------------------------------------------------------------

CORPORATE TENANT
STATE OF NEW YORK,    S.S.:
County of

   On this    day of             , 19   , before me

personally came
to me known, who being by me duly sworn, did depose and say that he resides

in                                                                        :

that he is the              of

the corporation described in and which executed the foregoing instrument, as
TENANT; that he knows the seal of said corporation; that the seal affixed to
said instrument is such corporate seal; that it was so affixed by order of the
Board of Directors of said corporation, and that he signed his name thereto by
like order.

                    ------------------------------------------------------------

INDIVIDUAL TENANT
STATE OF NEW YORK,    S.S.:
County of

   On this    day of             , 19   , before me

personally came

to me known and known to me to be the individual
described in and who, as TENANT, executed the foregoing instrument and
acknowledged to me that                          he executed the same.

                    ------------------------------------------------------------
<PAGE>

                                   GUARANTY

        FOR VALUE RECEIVED, and in consideration for, and as an inducement to
Owner making the within lease with Tenant, the undersigned guarantees to Owner,
Owner's successors and assigns, the full performance and observance of all the
covenants, conditions and agreements, therein provided to be performed and
observed by Tenant, including the "Rules and Regulations" as therein provided,
without requiring any notice of non payment, non performance, or non observance,
or proof, or notice, or demand, whereby to charge the undersigned therefor, all
of which the undersigned hereby expressly waives and expressly agrees that the
validity of this agreement and the obligations of the guarantor hereunder shall
in no wise be terminated, affected or impaired by reason of the assertion by
Owner against Tenant of any of the rights or remedies reserved to Owner pursuant
to the provisions of the within lease. The undersigned further covenants and
agrees that this guaranty shall remain and continue in full force and effect as
to any renewal, modification or extension of this lease and during any period
when Tenant is occupying the premises as a "statutory tenant." As a further
inducement to Owner to make this lease and in consideration thereof, Owner and
the undersigned covenant and agree that in any action or proceeding brought by
either Owner or the undersigned against the other on any matters whatsoever
arising out of, under, or by virtue of the terms of this lease or of this
guarantee that Owner and the undersigned shall and do hereby waive trial by
jury.

Dated: ................................19.......................

 ................................................................
Guarantor

 ................................................................
Witness

 ................................................................
Guarantor's Residence

 ................................................................
Business Address

 ................................................................
Firm Name

STATE OF NEW YORK  ) ss.:
COUNTY OF          )

  On this       day of          , 19  , before me personally came
 ..................................................... to me known and known to
me to be the individual described in, and who executed the foregoing Guaranty
and acknowledged to me that he executed the same.

                        .....................................
                                       Notary

                            IMPORTANT - PLEASE READ

                     RULES AND REGULATIONS ATTACHED TO AND
                           MADE A PART OF THIS LEASE
                        IN ACCORDANCE WITH ARTICLE 33.

1. The sidewalks, entrances, driveways, passages, courts, elevators, vestibules,
stairways, corridors or halls shall not be obstructed or encumbered by any
Tenant or used for any purpose other than for ingress or egress from the demised
premises and for delivery of merchandise and equipment in a prompt and efficient
manner using elevators and passageways designated for such delivery by Owner.
There shall not be used in any space, or in the public hall of the building,
either by any Tenant or by jobbers or others in the delivery or receipt of
merchandise, any hand trucks, except those equipped with rubber tires and
sideguards. If said premises are situated on the ground floor of the building,
Tenant thereof shall further, at Tenant's expense, keep the sidewalk and curb in
front of said premises clean and free from ice, snow, dirt and rubbish.

2. The water and wash closets and plumbing fixtures shall not be used for any
purposes other than those for which they were designed or constructed and no
sweepings, rubbish, rags, acids or other substances shall be deposited therein,
and the expense of any breakage, stoppage, or damage resulting from the
violation of this rule shall be borne by the Tenant who, or whose clerks,
agents, employees or visitors, shall have caused it.

3. No carpet, rug or other article shall be hung or shaken out of any window of
the building; and no Tenant shall sweep or throw or permit to be swept or thrown
from the demised premises any dirt or other substances into any of the corridors
or halls, elevators, or out of the doors or windows or stairways of the building
and Tenant shall not use, keep or permit to be used or kept any foul or noxious
gas or substance in the demised premises, or permit or suffer the demised
premises to be occupied or used in a manner offensive or objectionable to Owner
or other occupants of the building by reason of noise, odors, and/or
vibrations, or interfere in any way with other Tenants or those having business
therein, nor shall any animals or birds be kept in or about the building.
Smoking or carrying lighted cigars or cigarettes in the elevators of the
building is prohibited.

4. No awnings or other projections shall be attached to the outside walls of the
building without the prior written consent of Owner.

5. No sign, advertisement, notice or other lettering shall be exhibited,
inscribed, painted or affixed by any Tenant on any part of the outside of the
demised premises of the building or on the inside of the demised premises if the
same is visible from the outside of the premises without the prior written
consent of Owner, except that the name of Tenant may appear on the entrance door
of the premises. In the event of the violation of the foregoing by any Tenant,
Owner may remove same without any liability, and may charge the expense incurred
by such removal to Tenant or Tenants violating this rule. Interior signs on
doors and directory tablet shall be inscribed, painted or affixed for each
Tenant by Owner at the expense of such Tenant, and shall be of a size, color and
style acceptable to Owner.

6. No Tenant shall mark, paint, drill into, or in any way deface any part of the
demised premises of the building of which they form a part. No boring, cutting
or stringing of wires shall be permitted, except with the prior written consent
of Owner, and as Owner may direct. No Tenant shall lay linoleum, or other
similar floor covering, so that the same shall come in direct contact with the
floor of the demised premises, and, if linoleum or other similar floor covering
is desired to be used an interlining of builder's deadening felt shall be first
affixed to the floor, by a paste or other material, soluble in water, the use of
cement or other similar adhesive material being expressly prohibited.

7. No additional locks or bolts of any kind shall be placed upon any of the
doors or windows by any Tenant, nor shall any changes be made in existing locks
or mechanism thereof. Each Tenant must, upon the termination of his Tenancy,
restore to Owner all keys of stores, offices and toilet rooms, either furnished
to, or otherwise procured by, such Tenant, and in the event of the loss of any
keys, so furnished, such Tenant shall pay to Owner the cost thereof.

8. Freight, furniture, business equipment, merchandise and bulky matter of any
description shall be delivered to and removed from the premises only on the
freight elevators and through the service entrances and corridors, and only
during hours and in a manner approved by Owner. Owner reserves the right to
inspect all freight to be brought into the building and to exclude from the
building all freight which violates any of these Rules and Regulations of the
lease of which these Rules and Regulations are a part.

9. Canvassing, soliciting and peddling in the building is prohibited and each
Tenant shall cooperate to prevent the same.

10. Owner reserves the right to exclude from the building between the hours of
6 P.M. and 8 A.M. and at all hours on Sundays, and legal holidays all persons
who do not present a pass to the building signed by Owner. Owner will furnish
passes to persons for whom any Tenant requests same in writing. Each Tenant
shall be responsible for all persons for whom he requests such pass and shall be
liable to Owner for all acts of such persons.

11. Owner shall have the right to prohibit any advertising by any Tenant which
in Owner's opinion, tends to impair the reputation of the building or its
desirability as a building for offices, and upon written notice from Owner,
Tenant shall refrain from or discontinue such advertising.

12. Tenant shall not bring or permit to be brought or kept in or on the demised
premises, any inflammable, combustible or explosive fluid, material, chemical
or substance, or cause or permit any odors of cooking or other processes, or any
unusual or other objectionable odors to permeate in or emanate from the demised
premises.

14. Tenant shall not move any safe, heavy machinery, heavy equipment, bulky
matter, or fixtures into or out of the building without Owner's prior written
consent. If such safe, machinery, equipment, bulky matter or fixtures requires
special handling, all work in connection therewith shall comply with the
Administrative Code of the City of New York and all other laws and regulations
applicable thereto and shall be done during such hours as Owner may designate.

Address

Premises
=================================================

                  TO

=================================================
            STANDARD FORM OF

         [SEAL]  OFFICE   [SEAL]
                 LEASE

The Real Estate Board of New York, Inc.
(C)Copyright 1983. All rights Reserved.
Reproduction in whole or in part prohibited.
=================================================

Dated                             19

Rent per Year

Rent per Month

Term
From
To

Drawn by..................Checked by.............
Entered by................Approved by............
=================================================
<PAGE>

                            RIDER ANNEXED TO LEASE
                             DATED APRIL 28, 1999
                                BY AND BETWEEN
                     45-18 COURT SQUARE, LIC, AS LANDLORD
                                      AND
                           COMMUNITY NETWORKS, INC.
                                   AS TENANT

40.  Minimum Annual Rent
     -------------------

     A.   The term of this lease shall commence on the date the Landlord's Work
          (as hereinafter defined) is Substantially Completed (as hereinafter
          defined), which date is estimated to be the ninetieth (90th) day after
          the date Tenant has delivered Tenant's Plans (as hereinafter defined)
          to Landlord and Landlord has approved Tenant's Plans (the
          "Commencement Date") and shall expire, unless sooner terminated, on
          the last day of the calendar month in which occurs the fifth (5th)
          anniversary of the Commencement Date, unless the Commencement Date
          shall be the first day of a calendar month, in which event the term of
          this lease shall expire on the last day of the immediately preceding
          calendar month (the "Expiration Date").

     B.   Left Blank Intentionally.

     C.   Tenant covenants and agrees to pay to Landlord as Minimum Annual Rent
          on the first day of each month during the term hereof, the following
          sums:

          (i)       Years 1 through 3 - Three hundred seventy thousand
                    ($370,000) dollars and no cents per annum payable in equal
                    monthly installments of Thirty thousand eight hundred
                    thirty-three dollars ($30,833.33) and thirty-three cents per
                    month. (See Brokerage Agreement)

          (ii)      Years 4 and 5 - Three hundred ninety thousand
                    ($390,000) dollars and no cents per annum payable in equal
                    monthly installments of Thirty-two thousand five hundred
                    dollars ($32,500.00) and no cents per month. (See Brokerage
                    Agreement)

     D.   Rent due for partial month(s) shall be prorated.

     E.   The above annual sums shall be paid in equal monthly installments, in
          advance, on the first day of each month during said term at the office
          of Owner or at such other place as Owner may designate, without offset
          or deduction whatsoever.

                                       1
<PAGE>

     F.   Tenant shall pay the first month's rent, in the sum of $30,833.33 upon
          the execution of this lease, the receipt of which is hereby
          acknowledged.

41.  Security Deposit
     ----------------

     Simultaneous with entry into possession of the Demised Premises, Tenant
     shall deposit with Owner the sum of $32,500.00 (See Article 94) as security
     for the faithful performance and observance by Tenant of the terms,
     provisions and conditions of this Lease. It is agreed that in the event
     Tenant defaults in respect of any of the terms, provisions and conditions
     of this Lease, including, but not limited to, the payment of rent and
     additional rent, owner may use, apply or retain the whole or any part of
     the security so deposited to the extent required for the payment of any
     rent and additional rent or any other sum to which Tenant is in default or
     for any sum which Owner may expend or may be required by reason of Tenant's
     default in respect of any of the terms, covenants and conditions of this
     Lease, including but not limited to, any damages or deficiency in the re-
     letting of the premises, whether such damages or deficiency accrued before
     or after summary proceedings or other re-entry by Owner. Within thirty
     (30)days after receipt of written notice that Owner has made application of
     all or any part of the said security deposit, Tenant shall deposit with
     Owner such additional funds as are necessary to restore the security
     deposit to its original amount. In the event that Tenant shall fully and
     faithfully comply with all of the non-monetary terms, provisions, covenants
     and conditions of this Lease, the security not required to cure any
     monetary default or otherwise deducted as a result of the physical
     condition of the premises shall be returned to Tenant after the date fixed
     as the end of the Lease and after delivery of entire possession of the
     Demised Premises to Owner. In the event of a sale of the land and building
     or leasing of the building, of which the Demised Premises form a part,
     Owner shall have the right to transfer the security to the vendee or lessee
     and Owner shall thereupon be released by Tenant from all liability for the
     return of such security, and Tenant agrees to look to the new Owner solely
     for the return of said security; and it is agreed that the provisions
     hereof shall apply to every transfer or assignment made of the security to
     a new Owner. Tenant further covenants that, other than in connection with a
     valid disposition of this Lease in compliance with the terms of Article 64
     hereof, it will not assign or encumber or attempt to assign or encumber
     the monies deposited herein as security and that neither Owner nor its
     successor or assigns shall be bound by any such assignment, encumbrance,
     attempted assignment or attempted encumbrance.

                                       2
<PAGE>

     Tenant shall, at all times, maintain a rent security deposit equal to one
     (1) month's rent. On each base rent increase date, Owner shall invoice
     Tenant for, and Tenant shall deposit, such further sums with Owner as are
     necessary to satisfy this obligation.

42.  Restrictions on Use of the Demised Premises
     -------------------------------------------

     A.   Subject to the provisions of this Lease, Tenant shall use the Demised
          Premises only as offices in accordance with the Certificate of
          Occupancy and for no other purposes.

     B.   Tenant shall not use or permit the use of the Demised Premises or any
          part thereof in any way that would violate any of the covenants,
          agreements, terms, provisions and conditions of this Lease or for any
          unlawful purpose or in any unlawful manner or in violation of the
          Certificate of Occupancy for the Demised Premises or the Building, and
          Tenant shall not suffer or permit the Demised Premises or any part
          thereof to be used in any manner or for anything to be done therein or
          anything to be brought into or be kept therein that, in the judgment
          of Owner, shall in any way threaten to impair or adversely affect the
          character, reputation or appearance of the Building, the proper and
          economical operation of the Building or any systems, facilities or
          services used to operate or clean all or any part of the Building or
          the Demised Premises, or the use of any of the areas of the Building
          by Owner or any of the other Tenants or occupants of the Building.
          Tenant shall not install or use any equipment that, in the judgment of
          Landlord, could cause any adverse effect on the Demised Premises, the
          Building and/or the comfort and convenience of other Tenants and
          occupants of the Building.

43.  Landlord shall construct offices in accordance with the attached
     layout/sketch to be provided by tenant to The Milowitz Group, all finishes
     to building standard and in accordance with Building Codes. Any
     additions/changes required by Tenant must be agreed to in writing by both
     parties and shall be at Tenant's sole cost to be paid upon written
     agreement.

     A.   Landlord shall supply and install carpet and rubber base cove at
          Landlord's cost. Tenant shall have option of choosing carpet from
          Landlord's samples.

     B.   Any work performed by Tenant or Tenant's contractors shall be
          performed in a good and workmanlike manner and shall comply with all
          rules and regulations of all

                                       3
<PAGE>

          Governmental Authorities having jurisdiction therein. If Tenant is
          providing build-out of space or makes any alterations to the space,
          the following paragraphs apply:

     C.   Tenant, or any contractor or contractors employed by Tenant, or any
          other persons who will do work or install equipment for Tenant, shall
          be fully covered by Workmen's Compensation Insurance, and the
          Certificate by Tenant or any such contractor or persons as aforesaid.
          Tenant further covenants, at its own cost and expense, to take out and
          maintain at all times during the progress of such work and until
          completion thereof, public liability insurance policies covering Owner
          in compliance with the limits and such other conditions as set forth
          in Article 49 hereof, and certificates evidencing the policies shall
          be delivered to Owner prior to the commencement of any work hereunder.

     D.   Tenant's contracts with its contractors and/or other persons who will
          perform work for the Tenant shall require said persons to look solely
          to the Tenant for payment and will hold Owner and the Building free
          from all liens and claims of all persons furnishing labor or
          materials therefor.

     E.   Subject to the provisions of this Article, any and all machinery,
          equipment and fixtures installed by Tenant, which are not replacements
          of fixtures either furnished by Owner as part of Owner's work or pre-
          existing in the Demised Premises at the time of the commencement of
          this Lease (sometimes herein referred to as "Tenant's Property")shall
          remain personalty, notwithstanding the fact that it may be affixed or
          attached to the realty, and shall, during the term of this Lease or
          any extension thereof, belong to and be removable by Tenant, provided
          that (a)Tenant shall remove said installations prior to the expiration
          of such term, and shall repair any damage caused by said removal and
          shall deliver the Demised Premises to Owner in the same, or better
          condition, as upon the commencement of the term hereof, reasonable
          wear and tear excepted. Prior to the expiration of the term or sooner
          termination thereof, Tenant shall at its own cost and expense remove,
          from the Demised Premises, all of Tenant's property, except such items
          thereof as Tenant shall have expressly agreed in writing with Owner
          are to become the property of the Owner and Tenant shall repair any
          damage to the Demised Premises resulting from such removal. Any
          Tenant's property remaining in the Demised Premises after termination
          of this Lease (except such items as Owner and Tenant have expressly
          agreed in writing are to remain and become the property of Owner)
          shall be deemed to have been abandoned by Tenant or any

                                       4
<PAGE>

          sub-Tenant and either may be retained by Owner as its property or may
          be removed from the premises by Owner at Tenant's expense.

     F.   Machinery, fixtures, chattels or equipment, if any, furnished or
          installed by Tenant, the cost of which is borne by Owner, shall become
          the property of Owner upon payment therefor by Owner, or reimbursement
          of Tenant by Owner, as the case may be, and shall not be removed by
          Tenant. Anything herein contained to the contrary notwithstanding, it
          is understood and agreed that all structural improvements, all
          plumbing lines and equipment (other than fixtures), all electrical
          wiring, conduit and equipment (other than free-standing lighting
          fixtures), all heating and ventilating installations made by Tenant,
          whether with or without contribution or reimbursement by Owner, shall
          forthwith become part of the Building and property of Owner.

          Tenant's failure to comply with any of the items and conditions of
          this Article will be deemed a default pursuant to Article 17 hereof.

44.  Utilities
     ---------

     A.   Electricity Service
          -------------------
          (1)  Landlord shall contract directly with the public utility company
               for electric service for the Demised Premises. Tenant shall be
               responsible for the payment of the cost of such electric service.
               Such electric service may be furnished to Tenant by means of the
               then existing electrical facilities serving the Premises to the
               extent that the same are available, suitable and safe for such
               purposes. Landlord will, prior to the commencement date, install
               a sub-meter to measure Tenant's electric usage and Tenant shall
               pay for such electric usage at the same rate charged to Landlord
               by the utility company plus a three percent administrative fee.

          (2)  Any additional feeders or risers to be installed to supply
               Tenant's additional electrical requirements, and all other
               equipment proper and necessary in connection with such feeders or
               risers shall be, at Landlord's option, installed by Landlord upon
               Tenant's request, at the sole cost and expense of Tenant
               (including a connection fee of Three Hundred Fifty Dollars
               ($350.00) per kilovolt ampere, provided that, in Landlord's
               reasonable judgment, such additional feeders or risers are
               necessary and are permissible under applicable laws and insurance

                                       5
<PAGE>

               regulations and the installation of such feeders or risers will
               not cause permanent damage or injury to the Building or the
               Premises or cause or create a dangerous or hazardous condition or
               entail excessive or unreasonable alterations or materially
               interfere with or disturb other tenants or occupants of the
               Building. Tenant covenants that, at no time, shall the use of
               electrical energy in the Premises exceed the capacity of the
               existing feeders or wiring installations then serving the
               Premises. Tenant shall not make or perform or permit the making
               or performance of any alterations to wiring installations or
               other electrical facilities in or serving the Premises or any
               additions to the business machines, office equipment or other
               appliances in the Premises which utilize electrical energy
               without the prior consent of Landlord in each instance, which
               consent shall not be unreasonably withheld or delayed.

          (3)  Landlord shall not be liable to Tenant in any way for any
               interruption, curtailment or failure, or defect in the supply or
               character of electricity furnished to the Premises by reason of
               any requirement, act or omission of Landlord or of any public
               utility or other company servicing the Building with electricity
               or for any other reason, except if caused by Landlord's
               negligence or willful misconduct.

               Landlord reserves the right to estimate electric costs and Tenant
               specifically agrees to pay estimated costs per submeter which
               shall be confirmed by an outside source monthly.

               Landlord is willing to allow Tenant, at its own cost and expense,
               to install an approved direct meter for service to the space if
               it is determined to be possible to do so.

 45. Services
     --------

     (1)  Cleaning services by Landlord at the additional charges of $1.50 per
          square foot, to building standards. No medical waste shall be removed
          by Landlord.

     (2)  HVAC - Landlord shall install the HVAC system and Landlord shall
          maintain and repair same during the term of the Lease at the
          Landlord's sole cost and expense. Landlord shall install a
          Supplementary HVAC System in the 18'X 30' room (as hereinafter
          defined), which Supplementary HVAC System shall be maintained and

                                       6
<PAGE>

           repaired at Tenant's sole cost and expense using a contractor
           selected by Landlord and on the termination of the Lease, Tenant
           shall deliver the Premises with the Supplementary HVAC system in
           working order, free and clear of all liens and encumbrances. Landlord
           shall supply Tenant with Tenant's own heat and cooling, at Landlord's
           sole cost and expense, through the HVAC system.

           Heating is to be supplies from September 15 through May 14th and air
           conditioning from May 15th through September 14th. Landlord shall
           provide at least 68 degrees Ferenheit with respect to the heating of
           the Premises and maintain 74 degrees Ferenheit with respect to the
           cooling of the Premises.

           Landlord shall provide heating and cooling as described in the lease
           document. Landlord shall provide HVAC to Tenant's space based upon
           the building standard hours as follows:

           Monday through Friday:  8:00 AM to 6:00 PM
           Saturday:               8:00 AM to 2:00 PM
           Overtime HVAC can be supplied with prior notice at $75.00 per hour.

           Additionally, the separate air conditioning unit previously described
           shall be under the sole control of Tenant through the Supplementary
           HVAC System.

     (3)   Service elevator other than Monday through Friday, 8:00 AM through
           4:00 PM, at the rate of $50.00 per hour, subject to 48-hour written
           notice.

 46. Security Agreements
     -------------------

     A.    Tenant covenants and agrees that no security agreement, whether by
           way of conditional bill of sale, chattel, mortgage or instrument of
           similar import, shall be placed upon any improvement made by Tenant
           which is affixed to the realty.

     B.    In the event that any of the machinery, fixtures, furniture and
           equipment installed by Tenant in the Demised Premises are purchased
           or acquired by Tenant subject to a chattel, mortgage, conditional
           sale agreement or other title retention or security agreement, Tenant
           undertakes and agrees (1) that no such chattel, mortgage, conditional
           sales agreement or other title retention or security agreement or
           Uniform Commercial Code filing statement shall be permitted to be
           filed as a lien against the building and real property of which

                                       7
<PAGE>

           the Demised Premises form a part, and (2) to cause to be inserted in
           any of the above-described title retention, chattel, mortgage or
           security agreements the following provision:

           "Notwithstanding anything to the contrary herein, this chattel,
           mortgage, conditional sale agreement, title retention agreement or
           security agreement shall not create or be filed as a lien against the
           land, building and improvements comprising the real property in which
           the goods, machinery, equipment, appliances or other personal
           property covered hereby are to be located or installed."

     C.    If any such lien or UCC financing statement, based on an agreement as
           above described, is filed against the building and improvements, of
           which the Demised Premises form a part, Tenant will, upon at least
           ten (10) days' prior written notice thereof from Owner, cause such
           lien or notice to be removed or discharged at Tenant's cost and
           expense, and Tenant's failure to do so shall constitute a breach of a
           material provision of this Lease.

47.  Mechanic's Liens
     ----------------

     A.    Tenant shall have no power to do any act or make any contract which
           may create or be the foundation for any lien upon the reversion of
           Owner, the Premises herein Demised or Owner's building and
           improvements, it being agreed that should Tenant cause any
           alterations, changes, additional improvements or repairs to be made
           to the Demised Premises, or material furnished or labor performed
           therein or thereon, neither Owner for the Demise Premises shall,
           under any circumstances, be liable for the payment of any expenses
           incurred or for the value of any such work done or material furnished
           to the Demised Premises or any part thereof, but all such
           alterations, changes, additions, improvements and repairs and
           materials and labor shall be at Tenant's expense and Tenant shall be
           solely and wholly responsible to contractors, laborers, and
           materialmen furnishing labor and material to said premises and
           building, or any part thereof, for or on behalf of Tenant.

     B.    Tenant shall not suffer or permit any mechanic's liens to be filed
           against the fee ownership of the Demised Premises nor against
           Tenant's leasehold interest in said premises, by reason of work,
           labor, services or materials supplied or claimed to have been
           supplied to Tenant or to any occupant of the Demised Premises. If
           any such mechanic's lien shall at any time be filed against the

                                       8
<PAGE>

           Demised Premises or the building and improvements thereon, Tenant
           shall, at its own cost and expense, cause the same to be cancelled
           and discharged of record by surety bond or appropriate cash deposit
           within thirty (30) days after the date of filing the same and notice
           thereof to Tenant, and Tenant shall indemnify and save harmless Owner
           from and against any and all costs, expenses, claims, losses or
           damages resulting therefrom or by reasons thereof.

      C.   Tenant shall also defend on behalf of Owner, at Tenant's sole cost
           and expense, any action, suit or proceedings which may be brought
           thereon or for the enforcement of such liens or orders, and Tenant
           shall pay any damages and satisfy and discharge any judgment entered
           thereon and save harmless Owner from any claim or damage resulting
           therefrom.

      D.   If Tenant shall fail to discharge such mechanic's lien within such
           period, then, in addition to any other right or remedy of Owner,
           Owner may, but shall not be obligated to, discharge the same, either
           by paying the amount claimed to be due or by procuring the discharge
           of such lien by deposit in court or bonding, and in any such event,
           Owner shall be entitled, if Owner so elects, to compel the
           prosecution of an action for the foreclosure of such mechanic's lien
           by the lienor and to pay the amount of the judgment, if any, in favor
           of the lienor, with interest, costs and allowances.

      E.   Any amount paid by Owner for any of the aforesaid charges and all
           reasonable legal and other expenses of Owner, including reasonable
           counsel fees, in defending any such action in procuring the discharge
           of said lien, with all necessary disbursements in connection
           therewith, with interest thereon at the then legal rate of imputed
           interest from the date of payment, shall be repaid within a period of
           twenty (20) days after written demand therefor by Owner to Tenant,
           and may be treated as Additional Rent payable with the next
           installment of Annual Basic Rent.

      F.   Prior to the commencement of any work in the Demised Premises by any
           general contractor employed by Tenant or by any sub-contractors
           employed by such general contractor, or sub-contractors employed by
           Tenant, Tenant shall:

           (1)  furnish Owner with Tenant's written statement setting forth the
                name and business address of the Tenant's general contractor or
                sub-contractors employed by Tenant;

                                       9
<PAGE>

           (2)  obtain and furnish to Owner a written list of all sub-
                contractors employed or to be employed by Tenant's general
                contractor and certified by the general contractor.

48.   Owner's Exculpation/No Recourse
      -------------------------------

       If the Owner or any successor-in-interest be an individual, joint
       venture, tenancy-in-common, co-partnership, unincorporated association,
       limited partnership or other unincorporated group of individuals, or a
       corporation (all of which are referred to below, individually, and
       collectively, as an "Owner Entity"), then, anything herein to the
       contrary notwithstanding, Tenant shall look solely to the interest of
       such Owner Entity in the building in satisfaction of Tenant's remedies
       for the collection of a judgment (or other judicial process) requiring
       the payment of money by Owner, in the event of any default or breach by
       Owner with respect to any of the terms, covenants and conditions of this
       Lease to be observed and/or performed by Landlord, and no other property
       or assets of such Owner Entity or any member thereof, shall be subject to
       levy, execution or other enforcement procedure for the satisfaction of
       Tenant's remedies.

49.   Parties' Certificates
      ---------------------

       The Parties each shall, without charge at any time, and from time to
       time, within ten (10) days after request by the other, certify to any
       mortgagee, proposed assignee of any mortgagee, or proposed purchaser or
       any other person, firm or corporation specified by the requesting party:

      a)  That this Lease is unmodified and in full force and effect (or, if
          there has been modification, that the same is in full force and effect
          as modified and stating the modifications);

      b)  Whether or not there are then existing any set-offs or defenses
          against the enforcement of any of the agreements, terms, covenants or
          conditions hereof upon the part of the Tenant to be performed or
          complied with (and, if so, specifying the same); and

      c)  The dates, if any, to which the rental and other charges hereunder
          have been paid in advance.

 50. Liability Insurance and Indemnification
     ---------------------------------------

      A. During the term hereof, Tenant shall, at its own cost and expense:

                                       10
<PAGE>

          1)  Obtain, maintain and keep in force, for the benefit of Owner,
              Managing Agent and Tenant, comprehensive general liability
              insurance covering the risks in the limits set forth below, on or
              about the Demised Premises (which shall include Tenant's assigns,
              if any):

              a)   Bodily Injury:

                   Each person...........$1,000,000.00
                   Each Occurrence.......$1,000,000.00

              b)  Property Damage:

                  Each Occurrence........$  500,000.00

              c)  Completed operations and contractual liability with the same
                  bodily injury and property damage limits stated in (a) and (b)
                  above.

              d)  Fire and extended coverage for Tenant's fixtures, alterations
                  and inventory in an amount adequate to cover the cost of
                  replacement, but not less than $100,000.00.

     B.   Owner and its managing agent, Et-Al Management Corp., shall be named
          as an additional insured in said policies, as their interests may
          appear, and shall be protected against all liability occasioned by an
          occurrence insured against. All said policies of insurance shall be
          issued by insurance companies reasonably satisfactory to Owner and
          which are authorized to do business in the State of New York. Tenant
          shall deliver to Owner the policies of insurance, together with
          evidence of the payment of premiums thereon within ten (10) days of
          taking occupancy of the Demised Premises and furnish to Owner at least
          twenty (20) days prior to the expiration of any such policies, a new
          policy, with evidence of the payment or premiums thereon. The parties
          hereto agree that the payment of said premiums may be financed, as
          long as same are made and kept current. Said policies shall also
          provide that the insurer will give Owner at least thirty (30) days
          prior written notice of cancellation of said policy. If tenant fails
          to obtain such insurance, Landlord may do so and charge Tenant for the
          cost thereof, as additional rent.

     C.   Notwithstanding the limits of insurance specified in this Article,
          Tenant agrees to indemnify Owner, its agents, servants and employees
          against all damage, loss or liability resulting from any of the risks
          referred to in this Article. Such indemnification shall operate
          whether

                                       11
<PAGE>

          or not Tenant has placed and maintained the insurance specified in
          this Article and whether or not such proceeds from such insurance
          actually are collectible from one or more of the insurance companies;
          provided, however, that Tenant shall be relieved of its obligations of
          indemnity herein Pro Tanto of the amount actually recovered from one
          or more of the insurance companies by reason of injury or damage to,
          or loss sustained on the Premises.

     D.   Tenant shall pay all premiums and charges for all of said policies,
          and if Tenant shall fail to make any payment when due or carry any
          such policy, Owner may, but shall not be obligated to, make such
          payment or carry such policy, and the amount paid by Owner, with
          interest thereon, shall be repaid to Owner by Tenant on demand, and
          all such amounts so repayable, together with such interest, shall be
          considered as Additional Rent payable hereunder for the collection of
          which Owner shall have all of the remedies herein or by law provided
          for the collection of rent. Payment by Owner of any such premium or
          the carrying by Owner of any such policy, shall not be deemed to waive
          or release the default of Tenant with respect thereto.

     E.   Tenant acknowledges that Owner will not carry insurance of any kind on
          Tenant's furniture, furnishings, finishes, or wall coverings and/or
          fixtures, equipment, and improvements, and agrees that Owner shall not
          be obligated to repair any damage thereto or to replace the same.

51.  Tenant's Conduct of Business
     ----------------------------

      Tenant covenants and agrees:

      A.  To do all things necessary to keep the Demised Premises clean, orderly
          and neat at all times, and to prevent odors, all at Tenant's sole cost
          and expense, and to conduct its business in a proper manner.

      B.  That Tenant shall conduct its operations in the Demised Premises in an
          orderly and proper manner so as not to annoy, disturb or be offensive
          to others.

      C.  That Tenant shall not, at any time, discharge into the plumbing,
          sewage or drainage system, any waste materials which will result in
          the creation of a blockage in said system or otherwise adversely
          affect the proper and clean maintenance and operation thereof.

                                       12
<PAGE>

      D.  That Tenant, at its sole cost and expense, shall provide regular
          exterminating and pest control services in the Demised Premises using
          Landlord's exterminator at regular intervals, in order to prevent the
          occurrence of any vermin in or about the Demised Premises.

52.   Adjustment of Rent for Increases in Real Estate Tax
      ---------------------------------------------------

      See Paragraph 83

53.   Assignment and Sub-Subletting Provisions
      ----------------------------------------

      Tenant shall have the right to assign or sublease to a parent, affiliate,
      or subsidiary with notice to the Landlord. Any permission required for
      other assignments or subletting shall not be unreasonably withheld or
      delayed by the Landlord. If Owner shall give its consent to any assignment
      of this lease or to any sublease, Tenant shall, in consideration therefor,
      pay to Owner, as additional rent:

      A.  In the case of an assignment, 50% of all sums and other considerations
          paid to Tenant by the assignee for or by reason of such assignment
          (including, but not limited to, any "Tenant Improvement Payment" as
          hereinafter defined).

      B.  In the case of a sublease, 50% of all rents, additional charges or
          other consideration payable under the sublease to Tenant by the
          subtenant (including, but not limited to any Tenant Improvement
          Payment) which is in excess of the Fixed Rent and additional rent
          accruing during the term of the sublease in respect of the sublet
          portion (at the rate per square foot payable by Tenant hereunder)
          pursuant to the terms of this lease.

      C.  Any sums payable pursuant to this section shall be paid to Owner as
          and when, and to the extent, paid by the assignee or subtenant (as the
          case may be) to Tenant.

      D.  For the purposes hereof, the term "Tenant Improvement Payment" shall
          mean sums paid for the sale or rental of Tenant's fixtures, leasehold
          improvements, equipment, furniture, furnishings or other personal
          property, less, in the case of a sale thereof, the then fair market
          value, and in the case of a rental, the then fair rental value.

      Any assignee or transferee shall assume and be deemed to have assumed this
      lease and shall be and remain liable jointly and severally with Tenant for
      the payment of the rent and additional rent and for the due performance of
      all the terms, covenants, conditions, and agreements herein contained on
      Tenant's part to be performed for the term of this lease. No

                                       13
<PAGE>

      assignment shall be binding on Owner unless such assignee or Tenant shall
      deliver to Owner a duplicate original of the instrument or assignment in
      form reasonably satisfactory to Owner, containing a covenant of assumption
      by the assignee of all of the obligations aforesaid and shall obtain from
      Owner the aforesaid written consent, prior thereto.

54.   Rent Arrears, Etc.: Supplementing Article 25 of the printed form of lease:
      -----------------

      A.  Owner, at Owner's option, shall have the right, when Tenant is in
          default in the payment of Fixed Rent or Additional Rent, to demand
          payment by certified, bank or teller's check, or by postal money
          order.

      B.  In the event that any payment under this Lease shall be made in the
          form of a check from any person, firm or corporation other than the
          person, firm or corporation named in this Lease, the acceptance of
          same by Owner shall not, under any circumstances, be deemed
          recognition of a sub-letting or any assignment of this Lease,
          regardless of the number of times that such payment shall be made by
          such other person, firm or corporation.

      C.  Left Blank Intentionally.

      D.  In the event that any check paid by or for the benefit of Tenant to
          Owner is dishonored, Tenant shall pay Owner as Additional Rent
          hereunder a charge of One Hundred Dollars ($100.00) in addition to any
          other late charge or right or remedy available due to such dishonored
          payment.

55.   Additional Rent
      ---------------

      A.  All payments, other than Minimum Annual Rent required to be made by
          Tenant pursuant to this Lease (including, but not limited to,
          escalation charges, and any and all damages, interest, costs, fees and
          expenses caused by Tenant's default) shall be deemed additional rent
          and, in the event of any non-payment thereof, Owner shall have all
          rights and remedies provided for herein and by law for non-payment of
          Minimum Annual Rent in addition to whatever other remedies may be
          available to Owner.

      B.  Unless expressly provided otherwise in this Lease, the amount shown as
          due to Owner (or Owner's agent) in all bills, invoices and statements
          to Tenant shall be due and payable by Tenant upon receipt without
          further demand. Any delay or failure of Owner or its agent to prepare
          and deliver any bill, statement or invoice shall not

                                       14
<PAGE>

          constitute a waiver of the right to collect any payment which may have
          become due during the term of this Lease, including without
          limitation, retroactive payments for any and all amounts unbilled.

      C.  All payments of Minimum Annual Rent and additional rent pursuant to
          this Lease shall be made by Tenant with checks drawn upon a New York
          City bank. If Owner receives from Tenant any payment less than the
          full amount of the Minimum Annual Rent and additional rent then due
          and owing, Tenant hereby waives its right, if any, to designate the
          items to which such payment shall be applied and agrees that Owner, in
          its sole discretion, may apply such payment in whole or in part to any
          Minimum Annual Rent, any additional rent or to any combination thereof
          then due and payable hereunder.

      D.  The losing party in any action or proceeding between Owner and Tenant
          shall pay the reasonable attorneys' fees, costs and disbursements of
          the prevailing party for such action or proceeding upon the assignment
          thereof by the Court or on demand. If a default of Tenant causes Owner
          to prosecute or defend an action or proceeding with a third party,
          Tenant shall pay the reasonable attorneys' fees, costs and
          disbursements of Owner for such action or proceeding on demand. If
          Owner suffers, pays or incurs any damages, losses, fees or expenses
          (including without limitation, reasonable attorneys' fees
          and disbursements) due to a default, act, omission or request of
          Tenant, Tenant shall pay the total amount thereof to Owner on demand.

      E.  If all rent is not paid in full and actually received by Owner within
          fifteen (15) days after it is due and payable hereunder, Tenant shall
          pay Owner a late fee of 2% per month as additional rent. However, if
          the collection of such late fee at the rate specified herein would be
          usurious or otherwise unenforceable, interest on late payments shall
          accrue at the highest enforceable rate.

      F.  References in this Lease to "rent," "Rent," "rents,"  "Rents,"
          "rental," "Rental," "rentals" and "Rentals" shall mean and include
          Minimum Annual Rent and additional rent. The Minimum Annual Rent is
          the minimum rental due and payable without prior demand, offset or
          deduction. No decrease in any additional rent for any period shall
          yield an offset or deduction in any other rental or for any other
          period. References in this Lease to Tenant being "in default" and/or
          Tenant's "breach" or "default" shall mean and include each and every
          default, breach, misfeasance, nonfeasance, non-payment, or any other

                                       15
<PAGE>

          failure of Tenant to perform any of its obligations hereunder. If
          Owner gives notice of default and Tenant seeks declaratory relief and
          Tenant's time to cure is extended pending the outcome of such
          declaratory judgment action, Tenant shall be deemed to be "in default"
          under this Lease during the pendency of such action for the purposes
          of those rights that are exercisable by Tenant only if it is not "in
          default". All of Tenant's obligations to pay rent, to indemnify Owner
          and to obtain insurance shall survive the expiration of the term or
          sooner termination of this Lease.

      G.  Owner's managing agent, Et-Al Management Corp., may give notices,
          demands, invoices, statements and/or bills to Tenant in Owner's
          behalf; any such notice, statement, invoice, demand or bill shall be
          deemed to have been given by Owner.

      H.  The provisions of this Article shall supplement (not limit) other
          provisions of this Lease pertaining to the same matters as this
          Article and related matters.

56.   Owner's Right of Entry
      ----------------------

      A.  Tenant shall permit Owner to erect, use, maintain and repair pipes,
          cables, conduits, plumbing, vents and wiring in, to and through the
          Demised Premises, as and to the extent that Owner may now or hereafter
          deem to be necessary or appropriate for the proper operation and
          maintenance of the building of which the Demised Premises are a part.
          All such work shall be done, so far as practicable, in such manner as
          to avoid interference with Tenant's use of the Demised Premises, and
          as expeditiously as possible. The liability of Owner, if any, under
          this Article shall be limited to the prompt repair, at the sole cost
          and expense of Owner, of any damage caused to the Demised Premises by
          the Owner in the course of doing work under this paragraph.

      B.  Upon providing forty-eight (48) hours advance written notice, Owner,
          or its agents or assignees, shall have the right to enter the Demised
          Premises during business hours for the purpose of making such
          repairs or alterations as Owner shall be required or shall have the
          right to make by the provision of this Lease. Owner shall attempt to
          do all such work at a time, and in a manner, that will not
          unreasonably inconvenience Tenant, significantly diminish Tenant's
          floor area or significantly disrupt Tenant's architectural layout.
          Owner shall be allowed to take all material into and upon the Demised
          Premises that may be required for repairs or alterations, without
          constituting an eviction of Tenant, in whole or in part,

                                       16
<PAGE>

          so long as any repair work by Owner is diligently prosecuted to
          completion. Owner shall also have the right, without prior written
          notice, to enter the Demised Premises at such other times as such
          entry may be required by circumstances of emergency affecting the
          Demised Premises or the building containing the same. In addition,
          Owner, or its agents or assignees, shall have the right to enter the
          Demised Premises upon providing twenty-four (24) hours prior written
          notice during business hours for the purpose of inspecting the general
          condition and state of repair of the Premises and the showing of the
          Premises to any prospective purchaser or mortgagee, such entry and
          inspection to be conducted in a manner calculated to not unreasonably
          interfere with the operation of Tenant's business or its customers.

     C.   The rights granted to Owner by the terms of this Article shall be
          deemed supplementary to the provisions set forth in Article 13 of the
          printed portion of this Lease.

57.  Suspension of Services
     ----------------------

     Anything in this Lease to the contrary notwithstanding, Owner reserves the
     right to suspend the service of any utilities, when necessary by reason of
     accident or of repairs, alterations or improvements necessary to be made in
     the Demised Premises or the building of which it is a part, until such
     repairs, alterations or improvements shall have been completed, and Owner
     shall have no responsibility or liability for such suspension of services,
     provided Owner proceeds with diligence and continuity to complete such
     repairs, alterations or improvements and uses its best efforts to restore
     such services as soon as practicable. The foregoing shall not be deemed to
     impose upon Owner any obligations for the furnishing of any service,
     maintenance or repair other than is specifically set forth in this Lease.

58.  Condemnation
     ------------

     A.   If the whole of the Demised Premises shall be taken under the power of
          eminent domain of any public or private authority, then this Lease and
          the term thereof shall cease and terminate, as of the date of such
          taking and any unearned rent or other charges, if any, paid in
          advance, shall be refunded to Tenant.

     B.   In the event that only a portion of the Demised Premises shall be
          taken under the power of eminent domain by any public or private
          authority, then this Lease and the term thereof shall continue in full
          force and effect, at option of either the Owner or the Tenant,
          provided, however, that Owner shall, at its expense forthwith

                                       17
<PAGE>

          restore what may remain of the Demised Premises to substantially the
          same condition as prior to the condemnation. There shall be a pro rata
          abatement of basic rent hereunder to the extent that the amount of
          floor space so taken compares to the amount of floor space prior to
          such condemnation, to compensate Tenant for its loss of use of such
          portion of the Demised Premises. The minimum rent reserved herein, and
          any other charges payable to Tenant hereunder, shall be suspended
          (provided Tenant is not then using the Demised Premises) for the
          period from the date of the taking until the remainder of the Demised
          Premises shall have been restored as aforesaid.

     C.   Tenant shall not be entitled to any award for the loss of or loss in
          value of the leasehold, but only to an award for loss of or damage to
          its fixtures and/or equipment and to moving expenses, all to the
          extent allowed and solely in the event that such allowance does not,
          in any way, diminish the award to Owner. The respective damages to
          which Owner and Tenant are entitled by reason of any such taking shall
          be fixed and paid, respectively, to Owner and Tenant, as their
          interests appear, and in no event shall there be a merger of interest.

     D.   Within fifteen (15) days after Owner receives written notice of any
          such taking or intention to take under power of eminent domain, Owner
          shall forward a copy thereof to Tenant.

59.  Damage or Destruction
     ---------------------

     A.   If the Demised Premises shall be partially damaged by fire or other
          casualty, the damaged portions of the Demised Premises (but not
          Tenant's trade fixtures or personal property) shall be repaired by and
          at the expense of Owner (unless such fire or casualty resulted, in
          whole or in part, from any act or omission, whether negligent or
          otherwise, of Tenant or his agents, servants, contractors, employees,
          invitees, or assigns, in which case such repairs shall be at the cost
          and expense of Tenant), and the rent until such repairs shall be made
          shall be apportioned according to the part of the Demised Premises
          which is usable by Tenant. If Tenant shall have paid rent in advance,
          Owner shall repay to Tenant an amount equal to that portion of rent so
          paid in advance, payment of which is abated.

                                       18
<PAGE>

     B.   If the Demised Premises are totally damaged or are rendered wholly
          untenantable by fire or other casualty, Owner shall, within sixty (60)
          days after such fire or other casualty, give Tenant written notice of
          Owner's election whether:

          1)  To terminate this Lease and thereupon the term of this Lease shall
              expire by lapse of time upon the third (3rd) day after such notice
              is given, and Tenant shall vacate the Demised Premises and
              surrender the same to Owner. If Tenant shall not be in default
              under this Lease, or if any monetary default existing at the time
              of the giving of such a notice is cured in full within three
              (3) days after delivery of said notice, then upon the termination
              of this Lease under the conditions provided for in the sentence
              immediately preceding, Tenant's liability for rent accruing
              subsequent to the fire or casualty shall cease and be apportioned
              as of the day following such fire or casualty, or

          2)  To restore or rebuild the Demised Premises in character, layout,
              area and equipment (but not Tenant's trade fixtures or personal
              property) substantially equal to the premises damaged or destroyed
              immediately prior to such damage or destruction, and it is agreed
              that in such event, this Lease shall continue in full force and
              effect, but the rent, the additional rent, and all other payments
              and obligations of Tenant shall abate as of the date of such fire
              or other casualty, until the Demised Premises shall have been
              fully and completely restored or rebuilt by Owner and possession
              thereof shall have been delivered to Tenant.

              Should Owner elect to send Tenant written notice under
              subparagraph (1) of this Article 56B, and thereafter, within one
              (1) year of the giving of such notice, act nevertheless to restore
              or rebuild the Demised Premises in character, layout, area and
              equipment (but not Tenant's trade fixtures or personal
              property) substantially equal to the premises damaged or destroyed
              immediately prior to such damage or destruction, then and in such
              event, Owner agrees to give Tenant a thirty (30) day unilateral
              option to be exercised by Tenant in the method and manner
              otherwise set forth in this Lease, to resume occupancy for the
              remaining balance of the original lease term under all of the
              other terms and conditions set forth in this Lease.

                                       19
<PAGE>

     C.   Owner shall not be liable for reasonable delay under the foregoing
          subparagraphs A or B if such delay arises by reason of adjustment of
          insurance on the part of Owner and/or Tenant or the reasonable delay
          on account of any cause beyond the control of Owner or contractors
          employed by Owner, including, but not limited to strikes, labor
          disputes and shortages of material.

     D.   Tenant hereby expressly waives the provisions of Section 227 of the
          Real Property Law and of any law now in force or hereafter enacted
          which, in substance, provides for termination of a lease of real
          property by reason of destruction or untenantability of the Premises
          demised thereunder caused by fire or other casualty and agrees that
          the provisions of this Article 57 shall govern and control in lieu of
          any such provisions of law.

60.  Signs
     -----

     A.   Tenant shall not, without Owner's prior written consent, place or
          install any sign on the exterior of the Demised Premises, or the
          building of which it is a part, or on the inner or outer faces of the
          windows or doors of the Demised Premises. Tenant shall be permitted to
          install and maintain, at its own cost and expense, an exterior sign,
          provided the same receives the prior approval of Owner as to
          dimensions, shape, design, size, color, wording, material of
          composition and location. Tenant agrees that any exterior sign
          approved by Owner shall not be installed until all approvals and
          permits are first obtained by Tenant from governmental agencies having
          jurisdiction thereover and that all fees payable in connection with
          such installation, maintenance and permits shall be paid by Tenant.

     B.   Tenant shall not place in the windows or in any display or other area
          visible to public view from the outside of the Demised Premises any
          flashing, blinking or animated sign or one which otherwise has
          variations in the intensity of illumination without first obtaining
          Owner's prior written approval.

     C.   Tenant shall not, after having obtained the approval of Owner, change
          or alter any sign in any respect whatsoever, including but not limited
          to size, material of composition or location, without first obtaining
          the prior written approval of Owner, except that Tenant may change the
          phraseology in a sign previously approved by Owner without additional
          approval.

     D.   In the event that Owner shall deem it necessary to remove any sign of
          Tenant in order to make any repairs,

                                       20
<PAGE>

          alterations or improvements in, to or upon the Demised Premises, or
          the building of which it is a part, Owner shall have the right to do
          so, provided the same be removed and replaced at Owner's expense,
          promptly upon completion of such repair, alteration or improvements.

61.  Replacement of Plate Glass
     --------------------------

     Tenant shall, at its own cost and expense, replace any and all plate or
     other glass damaged or broken from any cause whatsoever in and about the
     Demised Premises. Tenant shall, at its own cost and expense, either insure
     and keep insured all such glass in stock companies authorized to do
     business in the State of New York, naming the Owner as a party insured
     thereunder, or may act as a self-insurer for plate glass.

62.  Holdover by Tenant
     ------------------

     Tenant will have no right to remain in possession of all or any part of the
     Demised Premises after the expiration of the term. If Tenant remains in
     possession of all or any part of the Demised Premises after the end of said
     term, with the express or implied consent of Owner: (a) such tenancy will
     be deemed to be a periodic tenancy from month-to-month only; (b) such
     tenancy will not constitute a renewal or extension of this Lease for any
     further term; and (c) such tenancy may be terminated by Owner upon the
     earlier of thirty (30) days prior written notice or the earliest date
     permitted by law. In such event, monthly rent (the reasonable value of use
     and occupancy) will be increased to an amount equal to one-half (l/2) of
     the sum of the Minimum Annual Rent plus all additional rentals payable
     during the last year of the term, and any other sums due for additional
     rent under this Lease will be payable in the amount and at the times
     specified in this Lease. Such month-to-month tenancy will be subject to
     every other term, condition and covenant contained in this Lease. Neither
     the billing nor the collection of use and occupancy in the above amount
     shall be deemed a waiver of any right of Owner to collect damages for
     Tenant's failure to vacate the Demised Premises after the expiration or
     sooner termination of this Lease. The provisions of this Article shall
     survive the expiration or sooner termination of this Lease.

63.  Broker
     ------

     Tenant and Owner covenant, warrant and represent to each other that neither
     has had any dealings with any real estate broker, agent or finder in
     consummating the Lease other than Aegis Realty Corp. and Equis and that no
     conversation or prior negotiations were had with any individual or entity
     other than Aegis Realty Corp. and Equis concerning the renting of the

                                       21
<PAGE>

     Demised Premises. In reliance upon such representation, Owner agrees to pay
     any commission due to Aegis Realty Corp. and Equis. Pursuant to a separate
     agreement between Equis and the Landlord, Equis shall receive one (1) full
     commission based upon the net additional rentals arising from the
     transaction less $10,000.

     The parties agree to hold each other harmless from and against any claims
     for brokerage commissions arising out of any conversation of negotiations
     had by The Tenant with any other broker.

64.  Subordination and Attornment
     ----------------------------

     A.   This Lease, and all rights of Tenant hereunder, are and shall be
          subject and subordinate in all respects to all mortgages and building
          loan agreements, including without limitation, mortgages and building
          loan agreements and leasehold mortgages which may now or hereafter
          affect the Land and/or the Building and/or any of such Leases, whether
          or not such mortgages shall also cover other lands and/or buildings,
          to each and every advance made or hereafter to be made under such
          mortgages and/or building loan agreements, and to all renewals,
          modifications, replacements, assignments, and extensions of such
          Leases, building loan agreements, mortgages and spreaders and
          consolidations of such mortgages. This Article shall be self-operative
          and no further instrument of subordination shall be required. In
          confirmation of such subordination, Tenant shall promptly, at its sole
          cost and expense, execute and deliver any instrument in recordable
          form that Owner, the lessor of any such Lease or the holder of any
          such mortgage or any of their respective assigns or successors in
          interest may reasonably request to evidence such subordination and
          the Tenant hereby constitutes and appoints Owner the attorney-in-fact
          for Tenant to execute any such instrument for and on behalf of Tenant
          in the event Tenant fails to execute such instrument within ten (10)
          days following delivery of written request therefor. The Leases to
          which this Lease is, at the time referred to, subject and subordinate
          pursuant to this Article, are hereinafter sometimes called "Superior
          Leases" and the mortgages to which this Lease is, at the time referred
          to, subject and subordinate, are hereinafter called "Superior
          Mortgages" and the Lessor of a Superior Lease or its successor in
          interest at the time referred to is sometimes hereinafter called a
          "Lessor" and the holder of a Superior Mortgage or its successor in
          interest at the time referred to is sometimes hereinafter called a
          "Holder". This provision supplements Article 7 of this Lease.

                                       22
<PAGE>

     B.   In the event of any act or omission of Owner which would give Tenant
          the right, immediately or after lapse of a period of time, to cancel
          or terminate this lease, or to claim a partial or total eviction,
          Tenant shall not exercise such right (1) until it has given written
          notice of such act or omission to the holder of each Superior Mortgage
          of record as of the date of the execution of this Lease, or of which
          Owner has given Tenant written notice, and (2) unless such act or
          omission shall be one which is not capable of being remedied by Owner
          or such Holder within a reasonable period of time, until a reasonable
          period of time for remedying such act or omission shall have elapsed
          following the giving of such notice and following the time when such
          Holder shall have become entitled under such Superior Mortgage to
          remedy the same (which reasonable period shall in no event be less
          than the period to which Owner would be entitled under this Lease or
          otherwise, after similar notice, to effect such remedy), provided such
          Holder shall, with due diligence give Tenant written notice of its
          intention to, and commence and continue to, remedy such act or
          omission. As of the date hereof, the parties entitled to receive
          notice under this Paragraph 63C are as follows:

          45-18 Court Square LLC and 45-18 Equity, at
          60 Morrow Avenue
          Scarsdale, NY 10583

     C.   If the fee owner of the building which includes the Demised Premises,
          or the Holder of a Superior Mortgage, shall succeed to the rights of
          Owner under this Lease, whether through possession or foreclosure
          action or through termination for any reason of the leasehold estate
          covering the building which includes the Demised Premises or by
          delivery of a new lease or deed, then, at the request of such party so
          succeeding to Owner's rights (herein sometimes called "Successor
          Owner") and upon such Successor Owner's written agreement to accept
          Tenant's attornment, Tenant shall attorn to and recognize such
          Successor Owner as Tenant's Landlord under this Lease. The foregoing
          provisions shall inure to the benefit of any such Successor Owner, and
          shall be self-operative upon any such demand, without requiring any
          further instrument to give effect to said provisions. Tenant, however,
          upon demand of any such Successor Owner, agrees to execute, from time
          to time, an instrument in confirmation of such attornment which is
          satisfactory to such Successor Landlord. Upon such attornment, this
          Lease shall continue in full force and effect for the remainder of the
          term originally demised under this Lease, as or as

                                       23
<PAGE>

          if it were a direct lease between the Successor Owner and Tenant upon
          all of the terms, covenants, conditions, agreements and provisions, as
          are set forth in this Lease, except that the Successor Owner shall
          not:

          1)  be subject to any offset not expressly provided for in this Lease.

          2)  be bound by any previous modification of this Lease not expressly
              provided for in this Lease, or by any previous pre-payment of more
              than one month's rent, unless such modification or prepayment
              shall have been expressly approved in writing by the Successor
              Owner through or by reason of which the Successor Landlord shall
              have succeeded to the rights of Owner under this lease.

     D.   Owner covenants and represents that it knows of no outstanding
          lawsuits, claims or judgments affecting or limiting Owner's right or
          authority to perform under this lease.

65.  Left Blank Intentionally
     ------------------------

66.  Modification - Financing
     ------------------------

     If, in connection with Owner's obtaining financing for the Real Property
     or any portion thereof, a bank, insurance company or other lending
     institution shall request reasonable modifications of this Lease as a
     condition to such financing, Tenant will not unreasonably withhold, delay
     or defer its consent thereto, provided that such modifications do not
     increase the obligations of Tenant hereunder or adversely affect the
     leasehold interest hereby created or otherwise and adversely affect
     Tenant's rights hereunder.

67.  Conditional Limitation
     ----------------------

     In the event that in any twelve (12) month period (A) a non-monetary
     default of the kind set forth in Article 17(l) shall have occurred or (B)
     Tenant shall have defaulted in the prompt payment of Minimum Annual Rent or
     Additional Rent, or any part of either, and Owner shall have commenced a
     summary proceeding to dispossess Tenant in each such instance, then,
     notwithstanding that such defaults may have been cured at any time after
     the commencement of such summary proceeding, any two (2) further defaults
     by Tenant within the ensuing twenty-four (24) month period shall be deemed
     to be a violation of a substantial obligation of this Lease by Tenant and
     Owner may serve a written three (3) days' notice of cancellation of this
     Lease upon Tenant and, upon the expiration of said three (3) days, this
     Lease and the term shall end and expire as fully

                                       24
<PAGE>

     and completely as if the expiration of such three (3) day period were the
     day herein definitely fixed for the end and expiration of this Lease and
     the term and Tenant shall then quit and surrender the Demised Premises to
     Owner, but Tenant shall remain liable as elsewhere provided in this Lease.
     Tenant's payment of Minimum Annual Rent and/or Additional Rent shall be
     considered "prompt" if received by Owner within ten (10) days of the date
     that same is due.

 68. Bankruptcy
     ----------

     Without limiting any of the provisions of Article 16, 17 or 18 hereof, if
     pursuant to the Bankruptcy Code of 1978 and the Bankruptcy Code of 1986, as
     the same may be amended, Tenant is permitted to assign this Lease in
     disregard of the restrictions contained in Article 11 or any other
     provision of this Lease. Tenant agrees that adequate assurance of future
     performance by the assignee permitted under such Code shall mean deposit of
     cash security with Owner in an amount equal to the sum of one year's
     Minimum Base Rent then reserved hereunder plus an amount equal to all
     additional rent payable under the provisions of this Lease for the calendar
     year preceding the year in which such assignment is intended to become
     effective, which deposit shall be held by Owner, without interest, for the
     balance of the term of this Lease as security for the full and faithful
     performance of all of the obligations under this Lease on the part of
     Tenant yet to be performed. If Tenant receives or is to receive any
     valuable consideration for such an assignment of this Lease, such
     consideration, after deducting therefrom (A) the brokerage commissions, if
     any, and other expenses reasonably incurred by Tenant for such assignment
     and (B) any portion of such consideration reasonably designated by the
     assignee as paid for the purchase of Tenant's property in the demised
     premises, shall be and become the sole and exclusive property of Owner and
     shall be paid over to Owner directly by such assignee. In addition,
     adequate assurance shall mean that any such assignee of this Lease shall
     have a net worth, exclusive of good will equal to at least fifteen
     (15) times the aggregate of the Minimum Annual Rent reserved hereunder plus
     all additional rent for the preceding calendar year as aforesaid.

69.  Hazardous Materials
     -------------------

     A.   For purposes of this Lease, "hazardous materials" means any
          explosives, radioactive materials, hazardous wastes, or hazardous
          substances, including without limitation, substances defined as
          "hazardous substances" in the Comprehensive Environmental Response,
          Compensation and Liability Act of 1980, as amended, 42 U.S.C. #9601-
          9657; the Hazardous Materials Transportation Act of 1975, 49 U.S.C.
          #1801-1812; the Resource Conservation and Recovery

                                       25
<PAGE>

          Act of 1976, 42 U.S.C. #6901-6987; or any other similar laws
          (collectively, "hazardous materials laws").

     B.   Tenant will not cause or permit the storage, use, generation, or
          disposition of any hazardous materials in, on, or about the demised
          premises or the Building by Tenant, its agents, employees or
          contractors. Tenant will not permit the Demised Premises to be used or
          operated in a manner that may cause the Demised Premises or the
          Building to be contaminated by any hazardous materials in violation of
          any hazardous materials laws. Tenant will immediately advise Owner in
          writing of (1) any and all enforcement, cleanup, remedial, removal, or
          other governmental or regulatory actions instituted, completed or
          threatened pursuant to any hazardous materials laws relating to any
          hazardous materials affecting the Demised Premises; and (2) all claims
          made or threatened by any third party against Tenant, Owner, or the
          Demised Premises relating to damage, contribution, cost recovery,
          compensation, loss, or injury resulting from any hazardous materials
          on or about the Demised Premises. Without Owner's prior written
          consent, Tenant will not take any remedial action or enter into any
          agreements or settlements in response to the presence of any hazardous
          materials in, on or about the Demised Premises.

     C.   Tenant will be solely responsible for and will defend, indemnify and
          hold Owner, its agents and employees, harmless from and against all
          claims, costs and liabilities, including attorneys' fees and costs,
          arising out of or in connection with Tenant's breach of its
          obligations in this Article, including, but not limited to, the
          removal, cleanup and restoration work and materials necessary to
          return the Demised Premises and any other property of whatever nature
          located on the Building to their condition existing prior to the
          appearance of Tenant's hazardous materials on the Demised Premises.
          Tenant's obligations under this Article will survive the expiration or
          other termination of this Lease.

70.  Left Blank Intentionally
     ------------------------

71.  Occupancy Prior to Commencement Date
     ------------------------------------

     In the event that Owner permits Tenant to occupy the Demised Premises prior
     to the commencement date, such occupancy shall be upon all of the terms and
     conditions contained in this Lease except that Tenant shall pay a pro-rated
     rent for the period to the commencement date and shall be responsible for
     all other charges provided for under the Lease.

                                       26
<PAGE>

72.  Waste Removal, Etc.
     -------------------

     Tenant shall, at its own cost and expense, promptly dispose of all garbage,
     ashes and waste arising from the conduct of its business in the Demised
     Premises at such times and in such manner so as to avoid any obnoxious or
     offensive smells or odors therefrom or otherwise materially interfering
     with the comfort and quiet enjoyment of the other occupants of the
     building. Tenant further covenants and agrees, at the Tenant's own cost and
     expense, to keep the drain waste and connections with mains free from
     obstruction to the reasonable satisfaction of the Landlord, its agents and
     all authorities having jurisdiction thereof. Tenant further covenants and
     agrees that Tenant will, at Tenant's own cost and expense, keep and
     maintain the interior in good order and repair. (See paragraph 45(l) of
     Rider).

73.  Irrespective of the place of execution or performance, this agreement shall
     be governed by and construed in accordance with the laws of the State of
     New York. This agreement shall be construed without regard to any
     presumption or other rules requiring construction against the party causing
     this agreement to be drafted. If any words or phrases in this agreement
     shall have been stricken out or otherwise eliminated, whether or not any
     other words or phrases have been added, this agreement shall be construed
     as if the words or phrases so stricken out or otherwise eliminated were
     never included in this agreement and no implication or inference shall be
     drawn from the fact that said words or phrases were so stricken out or
     otherwise eliminated. All terms and words used in this agreement,
     regardless of the number or gender in which they are used, shall be deemed
     to include any other number and any other gender, as the context may
     require.

74.  Left Blank Intentionally
     ------------------------

75.  Notice of Owner's Default
     -------------------------

     In the event of any alleged default in the obligation of Owner under this
     Lease, Tenant will deliver to Owner written notice listing the reasons for
     Owner's default and Owner will have thirty (30) days following receipt of
     such notice to cure such alleged default or, in the event that the alleged
     default cannot reasonably be cured within a thirty (30) day period, to
     commence action and proceed diligently to cure such alleged default. A copy
     of such notice to Owner will be sent to any holder of a mortgage or other
     superior lien on the Building or this Lease of which Tenant has been
     notified in writing, and any such holder will also have the same time
     periods to cure such alleged default.

                                       27
<PAGE>

76.  Modifications Requested by Mortgagee
     ------------------------------------

     If any actual or prospective holder of a fee or mortgage interest in the
     Building, the improvements thereon, the land thereunder or any leasehold
     interest in either, requires the modification of this Lease in such manner
     as does not materially lessen Tenant's rights or increase its obligations
     hereunder, Tenant shall not withhold or delay its consent to such
     modification and shall execute and deliver such confirming documents
     therefor as such holder requires.

77.  Conflict Between Rider and Printed Lease
     ----------------------------------------

     If and to the extent that any of the provisions of any Rider to this Lease
     conflict or are otherwise inconsistent with any of the printed provisions
     of this Lease, whether or not such inconsistency is expressly noted in the
     Rider, the provisions of the Rider shall prevail. The description of a
     particular right or remedy of Owner shall not be deemed exclusive or
     otherwise limit, waive or impair Owner's resort to any or all other rights
     and remedies available. The terms "Owner" and "Landlord" whenever used in
     this Lease shall have the same meaning. The meaning and effect of this
     Lease shall not be determined subject to any presumption against Owner as
     drafter. The doctrine of "ejusdem generis" shall not be applied to limit a
     general description to the same class or category of things or matters
     contained in the list (or specific description) which the general
     description follows or otherwise relates to. If a word or phrase contained
     in a prior draft of this Lease was deleted intentionally, the meaning and
     effect of this Lease shall be determined as if the language stricken had
     not been included in any prior draft.

78.  Left Intentionally Blank
     ------------------------

79.  Partial Invalidity/Joint Liability
     ----------------------------------

     If any provision of this Lease or the application thereof to any person or
     circumstance shall, to any extent be held void, unenforceable or invalid,
     then the remainder of this Lease or the application of such provisions to
     persons or circumstances other than those to which it is held void,
     unenforceable or invalid shall be valid and enforced to the fullest extent
     permitted by law. If there shall be more than one Tenant, they shall all be
     bound, jointly and severally, by the terms, covenants and conditions of
     this Lease.

80.  Indemnity: Supplementing Article 8 of the printed form of this lease.
     ---------

     A.   Tenant agrees to indemnify and save harmless Owner from and against
          (a) all claims of whatever nature against

                                       28
<PAGE>

          Owner arising from any negligent or improper act or omission of
          Tenant, its contractors, licensees, agents, servants, employees,
          invitees or visitors, (b) all claims against Owner arising from any
          accident, injury or damage whatsoever caused to any person or to the
          property of any person and occurring during the Term in or about the
          Demised Premises, and (c) all claims against Owner arising from any
          accident, injury or damages which result or are claimed to have
          resulted from an act or omission of Tenant or Tenant's contractors,
          agents, servants, employees, invitees or visitors. This indemnity
          shall not apply to the extent that any of the claims described above
          are caused by the negligent act or omission of Landlord, its
          contractors, agents, servants or employees. This indemnity and hold
          harmless agreement shall include indemnity from and against any and
          all liabilities, fines, suits, demands, costs and expenses (including
          without limitation, reasonable attorneys' fees) of any kind or nature
          incurred in or in conjunction with any such claim or proceeding
          brought thereon, and the defense thereof.

     B.   Tenant's indemnity set forth in this Article 80 shall extend and apply
          to each Superior Lessor and Superior Mortgagee.

81.  Requirements of Law
     -------------------

     Supplementing Article 6 of the printed form of Lease, Tenant's obligation
     to comply with all present and future laws, orders and regulations of all
     state, federal, municipal and local governments, departments, commissions
     and boards relating to Tenant's manner of use of the Demised Premises shall
     include, but shall not be limited to, all requirements relating to
     environmental matters by reason of Tenant's manner of use of the Demised
     Premises (whether or not such requirement would otherwise be the
     responsibility of Owner under said laws, orders or regulations) including,
     but not limited to, the storage, treatment, handling or transportation of
     hazardous waste.

82.  Restrictions on Tenant's Use
     ----------------------------

     Under no circumstances may the Demised Premises or any portion thereof be
     used for residential purposes. Tenant understands that any such use shall
     be a material default under the Lease and, notwithstanding anything herein
     to the contrary, shall entitle Landlord to immediately send Tenant a notice
     of cancellation of this Lease. Tenant further understands and

                                       29
<PAGE>

     acknowledges that the Building is not, has not been and is not intended to
     be an Interim Multiple Dwelling within the meaning of Section 280 et seq.
     of the New York Multiple Dwelling Law or any other type of multiple
     dwelling.

83.  Tax Escalation
     --------------

     The rent payable by Tenant during each lease year shall be adjusted in
     accordance with this Article:

     A)   Definitions:  For the purpose of this Article, the following
          definitions shall apply:

          1.   The term "Base Tax Year" shall mean the fiscal year commencing
               July 1, 1999 and ending June 30, 2000.

               The term "Tax Year" shall mean any year commencing July 1st and
               ending June 30th which covers any portion of the term of this
               Lease.

          2.   The term "Percentage" shall mean sixteen and two-thirds  (16-
               2/3%)percent.

          3.   The term "Building" shall mean the land and building known as:
               45-18 Court Square, Queens, N.Y. a/k/a 45-17 Pearson Street,
               Queens, N.Y.

          4.   The term "Real Estate Taxes" shall mean all taxes levied,
               assessed or imposed at any time by any governmental authority
               upon or against the Building and also any tax or assessment
               levied, assessed or imposed at any time by any governmental
               authority in connection with the receipt of income or rents from
               the Building to the extent that same shall be in lieu of all or a
               portion of any of the aforesaid taxes upon or against the
               Building.

     B.   Real Estate Taxes

          1.   In the event that the Real Estate Taxes payable during any Tax
               Year subsequent to the Base Tax Year shall exceed the amount of
               Real Estate Taxes payable during the Base Tax Year (whether any
               such excess results from a higher tax rate or an increase in the
               assessed valuation of the Building, or both), Tenant shall pay to
               Landlord, as additional rent for such subsequent Tax Year, an
               amount equal to The Percentage of the excess. After receipt of
               the tax bills which indicate that Real Estate Taxes payable for
               any subsequent Tax

                                       30
<PAGE>

               Year will exceed the Real Estate Taxes for the Base Year,
               Landlord shall furnish to Tenant a statement of the additional
               rent payable under this subdivision (B).

               Such statement shall set forth the Real Estate Taxes payable for
               such subsequent Tax Year and shall show an amount equal to The
               Percentage of the said excess, which amount shall be due from
               Tenant to Landlord, as additional rent, within ten (10) business
               days after receipt of the aforesaid statement; copies of the tax
               bills of the City of New York shall be sufficient evidence of the
               amount due under this Article, upon request.

          2.   The amount of Real Estate Taxes actually payable by Landlord
               during the Base Tax Year shall be used in the computation of the
               amount of additional rent payable under this subdivision,
               (B) until the amount of the Real Estate Taxes payable during the
               Base Tax Year be reduced by final determination of legal
               proceedings, settlement or otherwise. In the event of such
               reduction, the reduced amount of such taxes shall thereafter
               determine the amount of additional rent payable by Tenant
               pursuant to this subdivision (B), the additional rent theretofore
               paid or payable hereunder shall be recomputed on the basis of
               such reduction.

          3.   If Landlord shall receive a refund of any portion of the Real
               Estate Taxes payable during any Tax Year after the Base Tax Year,
               based upon which Tenant shall have paid additional rent as
               provided in this subdivision (B), then as a result of such a
               reduction of said Real Estate Taxes by final determination of
               legal proceedings, settlement or otherwise, Landlord shall,
               within ten (10) business days after receiving the refund, pay to
               Tenant the Percentage of the refund, less the percentage of
               reasonable expenses (including but not limited to attorneys' and
               appraisers' fees) incurred in connection with any such
               application or proceeding.

    C.    In no event shall the annual fixed rent under the Lease (exclusive of
          the additional rents under this Article) be reduced.

    D.    All of the additional rent payments required under this Article shall
          be appropriately prorated for any partial Tax Year occurring during
          the first and last years of the term of this Lease. Landlord's failure
          to prepare and deliver any of the foregoing tax bills, statements or

                                      31
<PAGE>

          bills of Landlord's failure to make a demand, shall not in any way
          waive or cause the Landlord to forfeit or surrender its rights to
          collect the additional rent required to be paid under this Article.

     E.   In the event of a default by Tenant of any of the terms, covenants and
          conditions of the Lease on the part of Tenant to be performed,
          Landlord shall terminate the Lease as a result thereof, Landlord shall
          have any and all of the rights and remedies available to Landlord
          under the provisions of the Lease or otherwise with regard to the
          collection of the additional rent required to be paid by Tenant under
          the terms of this Article.

84.  A.   "Operating Expenses" shall consist of expenses that are directly
           ------------------
          attributable to the operation, maintenance, management and repair of
          the Real Property. Tenant shall pay 1/6th of the increase in Operating
          Expenses (" Expense Increase") incurred in connection with the Real
          Property over the base year of 1999 as and for additional rent.

     B.   Operating Expenses shall exclude:

          a.   Capital Improvements.

          b.   The cost of any repair made by the Landlord because of the total
               or partial destruction of the Real Property or the condemnation
               of a portion of the Real Property.

          c.   Any costs which are reimbursed by insurance proceeds or any other
               source.

          d.   Expenses of Landlord in curing its defaults or performing work
               expressly provided for in the Lease to be borne at Landlord's
               expense (including work for other tenant(s) in the Real
               Property).

          e.   The cost of marketing and leasing the Real Property, including
               leasing commissions, advertising and other marketing costs, and
               related legal, accounting and other professional services; costs
               to prepare space for occupancy by any tenants of the Real
               Property and for renovating, repainting, decorating,
               redecorating, planning, designing space for any tenants
               (including Tenant) and the cost of any credits, allowances, or
               other payments or rent waivers or concessions granted to any
               tenant (including Tenant).

          f.   Landlord's cost of electricity and other services sold to
               tenants, including retail tenants and the

                                       32
<PAGE>

               parking garage operator, if any, which services are not standard
               for the Premises, or are not available to Tenant without the
               necessity of paying a separate additional charge.

          g.   Costs incurred by Landlord in exercising remedies against tenants
               of the Real Property who violate terms of their leases.

          h.   Sums paid by Landlord for any indemnity, damages, fines, late
               charges, penalties or interest for late payment, or to correct
               violations of building codes or other laws or regulations
               relative to the Real Property which are not Tenant's obligation
               under the Lease.

          i.   Any costs incurred to remedy defects in the structure or systems
               of the building located on the Real Property which are not
               Tenant's obligations under the Lease.

          j.   Costs incurred to investigate and respond to hazardous materials
               contamination, exposure or release (including hazardous
               substances in the ground water or soil, provided the hazardous
               material was not stored, used or disposed of by Tenant in
               violation of law).

          k.   Any employee salaries and other compensation and/or health
               benefits or other such benefits for the personnel of Landlord
               above the level of building manager.

          l.   Costs of goods or services furnished by entities affiliated with
               Landlord to the extent that such costs exceed the cost that would
               have been incurred in an arm's length transaction with an
               unrelated party.

          m.   Costs of Landlord's general overhead and general administrative
               expenses (individual, partnership or corporate, as the case may
               be), which costs would not be chargeable to operating expenses of
               the Real Property under generally accepted accounting principles
               consistently applied.

          n.   Payments of principal, interest, ground rent or any other
               financing or refinancing costs on any mortgages, deeds of trust,
               ground leases or other

                                      33
<PAGE>

               encumbrances, whether secured or unsecured on the Real Property,
               including any equipment, fixtures or improvements therein, or any
               penalties or late charges relating thereto.

          o.   Depreciation and amortization of the building or any fixtures or
               improvements located on the Real Property; and

     C.   Upon request, Landlord will provide accountant's a breakdown of
          operating costs compared against Base Year for any year in which an
          additional charge is billed to Tenant.

     D.   Any additional rent charged may be used as an estimate for the next
          year's billings and will be paid by Tenant in twelve (12) equal
          installments together with all other rent charges. Any adjustments
          will be made based upon the following year's actual costs.

     E.   If Tenant disputes figures provided by Landlord's accountant, Tenant,
          at Tenant's sole cost, upon reasonable notice, may review the books
          and records within thirty (30) days receipt of accountants'
          certification of costs. All reviews shall take place at Landlord's
          place of business during normal working hours. The books and records
          shall be kept in accord with generally accepted accounting principles
          consistently applied.

          In no event shall any rent adjustment hereunder result in a decrease
          in the fixed/minimum annual rent.

85.  ICIP Abatement
     --------------

     The Landlord and Tenant agree to cooperate in an application for ICIP
     Abatement of Taxes.

86.  Capital Improvements
     --------------------

     In the event any new law, rule, ordinance or regulation takes effect after
     the date hereof and requires the Landlord to do any work of a capital
     nature in the Demised Premises and/or the building, the Tenant shall pay,
     in equal monthly installments over the remainder of the lease term to the
     Landlord, of the cost multiplied by the remaining months under the Lease
     divided by one hundred twenty (120). The monthly payments shall commence
     within thirty (30) days after written demand together with a copy of the
     applicable invoice as for additional rent.

                                      34
<PAGE>

87.  Notices
     -------

     Supplementing the terms of Article 27 hereof, a copy of any notice by
     Tenant to Owner shall be sent to:

                          Et-Al Management Corp.
                          60 Morrow Avenue
                          Scarsdale, New York 10583

     and to:

                          Seymour Hurwitz, Esq.
                          36 West 44th Street
                          New York, New York 10036

     and a copy of any notice by Owner to Tenant shall also be sent to:

                          Community Network, Inc.
                          48-18 Court Square
                          Long Island City, N.Y. 11101

     and a courtesy copy (it being agreed that the failure to deliver such
     courtesy copy shall not vitiate any notice otherwise properly given) to:

                          Littman, Krooks, Roth & Ball, P.C.
                          655 Madison Avenue
                          New York, NY 10017
                          Att: Stuart S. Ball, Esq.

88.  Lease Not Binding Unless Executed and Delivered
     -----------------------------------------------

     This lease shall not bind Owner unless and until it has been (i) signed and
     delivered by Tenant; (ii) received and accepted by Owner; and (iii) then
     countersigned and redelivered by Owner to Tenant. The execution and
     delivery of this Lease by Tenant shall constitute its irrevocable offer to
     enter into this Lease. The Owner warrants and represents, upon which
     warranty and representation that he understands that the Tenant shall rely
     in the execution of this Lease, that Owner has the full right and lawful
     authority to execute this Lease for the term thereof.

89.  Tenant's Federal Tax I.D. Number
     ---------------------------------

     Tenant states that its Federal Tax Identification Number (the "Number") is
     11-331-0798. From time to time, upon Owner's request, Tenant shall confirm
     in writing that the Number provided by Tenant is correct and, if it is
     missing or incorrect, what the correct number is. Tenant shall indemnify
     Owner from and against any and all liability for any claim,

                                       35
<PAGE>

     fine, penalty, cost or expense (including attorneys' fees) paid, suffered
     or incurred by reason of Tenant's failure to comply with this Article.

90.  Miscellaneous
     -------------

     A.   No Offer.

          This Lease is offered to signature by Tenant and it is understood that
          this Lease shall not be binding upon Landlord unless and until
          Landlord shall have executed and delivered a fully executed copy of
          this Lease to Tenant.

     B.   Signatories.

          If more than one person executes this Lease as Tenant, each of them
          understands and hereby agrees that the obligations of each of them
          under this Lease are and shall be joint and several, that the term
          "Tenant" as used in this Lease shall mean and include each of them
          jointly and severally and that the act of or notice from, or notice or
          refund to, or the signature of, any one or more of them, with respect
          to the tenancy and/or this Lease, including, but not limited to any
          renewal, extension, expiration, termination or modification of this
          Lease, shall be binding upon each and all of the persons executing
          this Lease as Tenant with the same force and effect as if each and all
          of them had so acted or so given or received such notice or refund or
          so signed.

     C.   Authority.

          If Tenant is a corporation or partnership, each individual executing
          this Lease on behalf of Tenant hereby represents and warrants that
          Tenant is a duly formed and validly existing entity qualified to do
          business in the State of New York and that Tenant has full right and
          authority to execute and deliver this Lease and that each person
          signing on behalf of Tenant is authorized to do so.

     D.   Merger.

          This Lease represents the entire understanding of the parties hereto
          and all prior understandings or agreements between the parties are
          merged in this agreement.

                                      36
<PAGE>

     E.   Pornographic Uses Prohibited.

          Tenant agrees that the value of the Demised Premises and the
          reputation of the Owner will be seriously injured if the premises are
          used for any obscene or pornographic purposes or any sort of
          commercial sex establishment or for certain other purposes. Tenant
          agrees that Tenant will not bring or permit any obscene or
          pornographic material on the premises and shall not permit or conduct
          any obscene, nude or semi-nude live performances on the premises, nor
          permit use of the premises for nude modeling, rap sessions, or as a
          so-called "rubber goods shop", or as a sex club of any sort, or as a
          "massage parlor", nor shall the Demised Premises be used for erotic
          dancing, a night club or for the preparation or serving of food or
          beverages. Tenant further agrees that Tenant will not permit any of
          these uses by any sublessee or assignee of the premises. This Article
          shall directly bind any successors in interest to the Tenant. Tenant
          agrees that if, at any time, Tenant violates any of the provisions of
          this Article, such violation shall be deemed a breach of a substantial
          obligation of the terms of this Lease and objectionable conduct.
          "Pornographic material" is defined for purposes of this Article as any
          written or pictorial matter with prurient appeal or any objects or
          instruments that are primarily concerned with lewd or prurient sexual
          activity.

91.  Landlord's Work
     ---------------

     Landlord shall, at Landlord's cost and expense, provide a "Turn-key"
     buildout of the Demised Premises utilizing the Building standard
     specifications and finishings, including, without limitation, providing
     tie-ins to the Building fire and life safety systems, a sprinkler system,
     one (1) supplemental HVAC system for a "network room" of not more than five
     hundred and forty (540) square feet and ductwork for the HVAC System
     ("Landlord's Work") based on mutually accepatable design, construction,
     mechanical and electrical plans to be provided by Tenant within thirty (30)
     days after the date hereof ("Tenant's Plans") or attached hereto.

     Notwithstanding the foregoing, Owner shall not be required to expend more
     than Twenty-five ($25.00/sq.ft.) Dollars per square foot to perform
     Landlord's Work ("Landlord's Maximum Cost"). This is exclusive of any
     direct meter installation costs should Tenant install same under Paragraph
     44(3). If the cost of Landlord's Work, as reasonably determined by Landlord
     after receipt of Tenant's Plans, would exceed Landlord's Maximum Cost,
     and/or exceeds Building standards, Tenant shall either (a) revise Tenant's
     Plans to reduce the cost of Landlord's Work or (b) agree to pay the excess
     to

                                       37
<PAGE>

     Landlord, as additional rent. If Landlord has not, for any reason, approved
     Tenant's Plans by the close of business on June 21, 1999, this lease may be
     terminated by Landlord by written notice to Tenant and, upon the return to
     Tenant of all sums paid by Tenant to Landlord on the execution hereof. This
     lease shall become null and void and of no further force or effect and each
     of the parties released and relieved from any further obligation hereunder.
     Tenant shall be entitled to utilize a portion of Landlord's Maximum Cost to
     pay the reasonable and standard fees of Barry Milowitz and Tenant's design
     consultant, in which event such fees shall be deducted from the amount
     Landlord would otherwise be required to expend to perform Landlord's Work.

     Landlord's Work shall be deemed to have been substantially completed
     ("Substantial Completion" or "Substantially Completed") when Landlord's
     Work is so completed that Tenant may use the Demised Premises for the
     performance of such work in the Demised Premises as Tenant shall determine
     is necessary for Tenant's use of the Demised Premises, without material
     interference.

     If Landlord has not Substantially Completed Landlord's Work within one
     hundred twenty (120) days after Tenant's Plans have been submitted to and
     approved by Landlord, Tenant shall be entitled to a credit against the next
     installment of the Minimum Annual Rent of one (1) day for each day after
     such one hundred twentieth (120th) day.

92.  Right of First Offer - In the event any space becomes available for lease
     --------------------
     by Landlord (the "Availability"). Landlord shall offer same to Tenant or on
     the same terms at which Landlord intends to offer it to others. Said terms
     ("the Offer Terms") shall be incorporated into a letter ("the Offer
     Letter") to be sent to Tenant by facsimile. The date the Offer Letter is
     sent shall be the Offer Date. Within two weeks of the Offer Date Tenant may
     notify Landlord in writing of its intention to accept the offer ("the
     Acceptance"), in which event Landlord and Tenant shall in good faith enter
     into negotiations to execute a lease document based upon the Offer Terms.
     If Tenant does not tender the Acceptance or if within three weeks of the
     date of the Acceptance Landlord and Tenant are unable to execute a lease
     document, then neither party shall have any further obligation to each
     other with regard to the Availability.

     See also Paragraph 94D.

93.  Building Security - Upon Tenant's occupancy of the third floor, Landlord
     -----------------
     will install security cameras at the front and rear entrances of the
     building and provide a security guard or concierge by the front door during
     normal business hours.

                                       38
<PAGE>

94.  Existing Leases
     ---------------

     A.   The term of that certain lease between Landlord and Tenant for Suite
          502 of the Building (the "502 Lease") shall terminate on the
          Commencement Date or such later date that Tenant vacates and
          surrenders Suite 502. Tenant shall vacate and surrender Suite 502 in
          the manner provided for in the 502 Lease on the date Tenant commences
          the operation of Tenant's business in the Demised Premises.
          Notwithstanding such termination, Tenant shall remain liable for all
          of the obligations of Tenant under the 502 Lease to and including the
          date Tenant vacates Suite 502 and the same shall constitute Additional
          Rent hereunder.

     B.   The term of that certain lease between Landlord and Tenant for Suite
          403 of the Building (the "403 Lease") shall terminate on the
          Commencement Date or such later date that Tenant vacates and
          surrenders Suite 403. Tenant shall vacate and surrender Suite 403 in
          the manner provided for in the 403 Lease on the date Tenant commences
          the operation of Tenant's business in the Demised Premises.
          Notwithstanding such termination, Tenant shall remain liable for all
          of the obligations of Tenant under the 403 Lease to and including the
          date Tenant vacates Suite 403 and the same shall constitute Additional
          Rent hereunder. In consideration of Landlord's agreement to terminate
          the 403 Lease, Tenant hereby waives the repayment from Landlord of the
          $24,846.81 refund Tenant is due for overbilling of electric charges.

     C.   The $20,831.50 security deposit held by Landlord under the 502 and 403
          Leases (the "Existing Deposits") shall be applied by Landlord toward
          the security deposit provided for under Article 41 hereof; as such,
          Tenant shall be required to deposit $11,668.50 on execution of this
          Lease. Notwithstanding the foregoing, in the event Landlord applies
          any portion of the existing deposits as a result of Tenant's default
          under the 502 Lease, the 403 Lease, or this Lease, Tenant shall be
          obligated to pay to Landlord any such sum so applied.

     D.   Notwithstanding the above, Tenant shall be granted First Right of
          Refusal the first time Suite 403 and/or 502 are marketed for rental.
          Upon notification by Landlord of its intent to rerent the space
          together with the termination for said rental, Tenant shall have ten
          days in which to respond in writing via Certified Mail of its

                                       39
<PAGE>

          intent to lease Suites 403 and 502 in its entirety or separately.
          Failure to notify Landlord timely shall be deemed a waiver of this
          First Right of Refusal.

          See also Paragraph 92.

95.  Miscellaneous - Landlord will make reasonable efforts to provide Tenant
     -------------
     with an acceptable Non-Disturbance Agreement. Landlord will provide access
     24 hours a day, 7 days a week.

96.  Option To Extend Term
     ---------------------

     A.   Provided Tenant is not then in default at the time of exercising the
          option herein or at the time of the commencement of the extension
          period, Tenant shall have the option to extend the Term for an
          additional period of five (5) years (an "Extension Period"), such
          Extension Period to begin immediately upon the expiration of the
          original Term. All of the terms, covenants, and provisions of this
          Lease shall apply to each such Extension Period, except that the Fixed
          Annual Rent shall be as set for in Paragraph B of this Article and
          Tenant shall have no further right to extend the Term.

     B.   The Minimum Annual Rent payable during the Extension Period shall be
          the greater of (a) Four Hundred Twenty Thousand ($420,000) Dollars per
          annum or (b) the then fair market rental value of the Demised Premises
          in its then "as is" condition, taking into account new carpeting and
          painting as called for in Paragraph 96D herein, after receipt of
          Tenant's notice of Tenant's election to extend the Term, Landlord and
          Tenant shall attempt to agree upon the Minimum Annual Rent for the
          Extension Period. If the parties are unable to agree, either party
          may, on notice to the other, submit the matter to the American
          Arbitration Association in New York City for a determination before a
          single arbitrator. As a part of such arbitration, each party shall
          submit a statement setting forth its determination as to the fair
          market rental value of the Demised Premises. The arbitrator shall
          select either Landlord's determination or Tenant's determination (it
          being agreed that any other determination by an arbitrator shall be
          null and void) and the party whose determination is not selected by
          the arbitrator shall pay the costs and expenses of the arbitration.
          Each party shall bear the expense of its attorneys, appraisers, and
          expert witnesses.

     C.   The option to extend the Term hereof shall be exercisable only by
          Tenant's serving written notice of its exercise

                                       40

<PAGE>

          thereof upon Owner in the manner herein contained for the giving of
          notices, no less than one (1) year and no more than thirteen
          (13) months prior to the expiration of the initial Term, time being of
          the essence.

     D.   On the commencement of the Renewal Term, Landlord shall paint and
          recarpet the Demised Premises using Building standard paint and
          carpeting.

WITNESSES:                               OWNER:  45-18 COURT SQUARE
                                                 LONG ISLAND CITY, N.Y.

       [ILLEGIBLE]                   BY:         [ILLEGIBLE]
----------------------------              ----------------------------

                                         TENANT: COAXICOM, INC.
                                         (dba COMMUNITY TELEPHONE)

       [ILLEGIBLE]                     BY:       Scott Matukas
----------------------------              ----------------------------

                                41<PAGE>

                                                                    EXHIBIT 10.4

Existing Lease Abstract

Building:                   45-18 Court Square

Lease Date:                 March 27, 1997

Landlord:                   45-18 Court Square, LLC

Tenant:                     Coaxicom, Inc. (Community Networks)

Premises:                   Part of the fifth floor (Suite 502)

Rentable Area:              2,900 RSF

Lease Term:                 3 year

Lease Commencement:         May 1, 1997

Lease Expiration:           April 30, 2000

Rent Commencement:          May 1, 1997

Base Rent:                  Year one - $38,000 per annum ($3,166.67 per month)

                            Year two - $39,000 per annum ($3,250.00 per month)

                            Year three - $40,000 per annum ($3,333.33 per month)

Electricity:                Landlord contracts directly with the public utility
                            company for electric service. Tenant is responsible
                            for the cost of such electric service. Landlord had
                            the right, prior to the Commencement Date, to
                            install a sub-meter to measure the Tenant's electric
                            usage.

Real Estate Taxes:          Tenant shall pay their proportionate share of Real
                            Estate Taxes over and above a base year. The Base
                            Tax Year shall mean the fiscal year commencing July
                            1, 1996 and ending July 30, 1997. The Tax Year shall
                            mean any year commencing July 1/st/ and ending June
                            30/th/. The Tenant's proportionate share equals
                            2.2%.

Operating Expense:          Tenant shall pay their proportionate share of
                            Operating Expenses over and above a base year. The
                            Base Year for Operating Expenses shall be the
                            calendar year 1997. Tenant shall pay 2.2% of the
                            increase in Operating Expenses over the Base Year.
<PAGE>

Tenant's Proportionate
Share (for above):          2.2%

Security Deposit:           $6,666.66

Use:                        General Office Use

Sublet/Assignment:          Cannot assign the lease without prior written
                            consent of owner, which may be withheld for any
                            reason or for no reason whatsoever.

Termination Option(s):      If Tenant has notified the Landlord in writing via
                            certified mail of a need for additional space, but
                            Landlord cannot provide such additional space within
                            the building, Tenant will have the option to
                            terminate this lease upon thirty (30) days written
                            notice.

Expansion Option(s):        See Termination Option

Right of First Refusal:     N/A

Renewal Option(s):          N/A

Holdover:                   Tenant shall have no right to remain in possession
                            of the Demised Premises after the expiration of the
                            term. If the Tenant remains in possession of the
                            Demised Premises with the expressed or implied
                            consent of Owner, such tenancy will be deemed a
                            periodic tenancy from month to month. Monthly rent
                            will be increased to one-half (l/2) of the sum of
                            the Minimum Annual Rent plus all additional rentals
                            payable during the last year of the term, and any
                            other sums due for additional rent under this Lease
                            and will be payable in the amount and at the times
                            specified in this Lease.
<PAGE>

                              [LOGO APPEARS HERE]
<PAGE>

                           [LETTERHEAD APPEARS HERE]

January 17, 2000

Mr. Scott Matukas
Broadview Networks
45-18 Court Square
Long Island City, NY 11101

RE: 45-18 Court Square, Suite 502
    Long Island City, NY 11101

Dear Scott:

Enclosed please find letter which will act as a Memo of Understanding for the
month-to-month lease on Suite 502.

In the absence of any questions, please initial all pages of this Memo of
Understanding and sign where indicated. Please return to me by Fax and an
original by mail together with a check in the amount of $12,961.25. The
breakdown is as follows:

First month's rent                                          $ 6,040.00
Security                                                      6,040.00
Estimated electric usage (l/15-1/31/2000)                       700.00*
Cleaning (l/15-l/31/2000)                                       181.25
                                                            ----------
Total Due                                                   $12,961.25

*Electric usage estimated at $1,400 as has been done previously with Suite 502.

If You have any questions, please do not hesitate to contact either myself or
Katherine of my office.

Very truly Yours

Alan. Zaretsky
45-18 COURT SQUARE LLC

kk

Enc.

Via Fax (718-706-9575)
    and Regular Mail
<PAGE>

                           [LETTERHEAD APPEARS HERE]

January 18, 2000

Mr. Scott Matukas
Broadview Networks
45-18 Court Square
Long Island City, NY 11101

RE: Suite 502
    45-18 Court Square, Long Island City

Dear Scott:

Per your request I am pleased to offer you a short term lease for the above
referenced space. Below please find the changes to the existing lease which
terminated as of September 30, 1999:

1. The rental term shall commence February 1, 2000 but be adjusted for rent
   payment effective January 15, 2000 and continue on a Month-to-Month basis to
   no later then January 31, 2001 (no longer than a twelve month period).

2. Paragraph 40 will be deleted and replaced with the following terms:
   A. Possession shall be deemed delivered as of January 15, 2000.
   B. Left Blank Intentionally.
   C. The minimum rent per month shall be Six thousand forty dollars and
      ($6,040.00)no cents.
   E. Shall remain the same as the original lease.
   F. The rent shall be $6,040.00.

3. Paragraph 41 the security deposit and reference to same shall be $6,040.00,
   one full month's security.

4. Paragraph 43 shall be eliminated in its entirety and replace with "Space
   shall be taken as is".

5.  Paragraph 44 electric usage. Tenant shall pay for electric usage at same
    rate charged to Landlord by the utility company plus a five (5%) percent
    administrative fee.

6.  Paragraph 63 shall be changed to read no broker. Broadview Networks shall
    indemnify Landlord from any and all broker claims other then Aegis Realty.
<PAGE>

January 18, 2000
Mr. Scott Matukas
Broadview Networks
Page 2

RE: Suite 502
    45-18 Court Square, Long Island City

 7. Paragraph 83 the Base Year for Taxes shall be the fiscal year July 1, 2000
    through June 30, 2001.

 8. Paragraph 84 the Base Year for Operating Escalation shall be the Calendar
    Year 2000.

 9. Paragraph 92 shall be deleted in its entirety.

10. Paragraph 99 is modified indicating that the initial entry access cards have
    already been supplied to Tenant.

11. Paragraph 101 is deleted in its entirety.

12. Paragraph 104 is modified to read the first month's rent in the amount of
    $6,040.00 and one month's security in the amount of $6,040.00.

A minimum of sixty (60) days written notice of termination by Broadview Networks
via certified mail return receipt will be required prior to cancellation.
However, the terms of this short term lease will expire no later then January
31, 2001 without any required written notice.

If the above offer is acceptable to you, please sign both copies of this letter
and return one original to my offices together with the checks for the first
month's rent and one month security as soon as possible.

Upon its signing, this letter shall act as a short term lease, as modified
above, with all other terms and conditions of the original lease dated March
27, 1997 together with all Riders attached to said Lease.

Very truly yours,

Alan Zaretsky                                Agreed to:
45-18 COURT SQUARE LLC

kk                                           Scott Matukas            1/18/00
                                             --------------------------------
Via Fax (718-706-9575)                       Scott Matukas             Dated
    and Regular Mail                         Broadview Networks
<PAGE>

                           [LETTERHEAD APPEARS HERE]

December 3, 1999

Mr. Scott Matukas
Broadview Networks
45-18 Court Square
White Plains, NY 10601

RE: Suite 502
    45-18 Court Square
    Long Island City, NY 11101

Dear Scott:

Please be advised that per your request I am pleased to offer you the following
two alternatives regarding temporary/short term lease for Suite 502 at the above
referenced premises:

1.   One Year Lease commencing immediately.
     Base Rent: $5,555.00
     Electric at cost (estimated at $1,000 per month) plus a five percent
     administrative fee, electricity to be adjusted monthly based upon reading
     of meters by Utility Programs and Metering, Inc.
     Cleaning at building standard rate ($1.50 per square foot).
     No renewal options, no escalations (Operating and Taxes)

2.   Month-to-Month:
     Base Rent: $6,040 per month for a maximum of 12 months.
     Electric at cost (estimated at $1,000 per month) plus a five percent
     administrative fee, electricity to be adjusted monthly based upon reading
     of meters by Utility Programs and Metering, Inc.
     Cleaning at building standard rate ($1.50 per square foot).
     A minimum of 60 days written notice of termination by Broadview Networks
     via certified mail return receipt will be required prior to cancellation.

As you are aware, this is the only vacant space I have left in my building at
this time. Accordingly, If you wish to utilize this space, I must receive an
answer from you within the next five days.
<PAGE>

December 3, 1999
Mr. Scott Matukas
Broadview Networks
Page 2

RE: Suite 502
    45-18 Court Square
    Long Island City

In addition, please forward to my office proper evidence of the name change to
Broadview Networks and please have the appropriate individual sign the attached
letter confirming the obligation of Broadview Networks for all leases at 45-l8
Court Square.

Finally, per our discussion and agreement please forward a check in the amount
of $6,500 for the work performed by Tando Electric pertaining to the
installation of your electric system contained within the furniture ordered by
your company. I am still reviewing the charge of $2,500 by Barry Milowitz to
your office and will advise you under separate cover of the status of same.

Your immediate attention to the above matters will be greatly appreciated and is
essential regarding providing you with the additional space that you need at
this time.

Very truly yours,

Alan Zaretsky
45-18 COURT SQUARE LLC

kk

Enc.

Via Fax (718-706-9575)
    And Regular Mail
<PAGE>

================================================================================
                          STANDARD FORM OF OFFICE LEASE
                    The Real Estate Board of New York, Inc.
================================================================================

Agreement of Lease, made as of this 27th day of March 1997, between 45-18 Court
Square, LLC having an office at 60 Morrow Ave., Scarsdale, New York 10583

party of the first part, hereinafter referred to as OWNER, and Coaxicom, Inc.
(dba Community Telephone)

                    party of the second part, hereinafter referred to as TENANT,
Witnesseth:  Owner hereby leases to Tenant and Tenant hereby hires from Owner
approximately 2,900 rentable sq. ft. on the fifth floor as per the attached
plan designated Suite 502 in the building known as 45-18 Court Square in the
Borough of Queens, City of New York, for the term of three (3) years

(or until such term shall sooner cease and expire as hereinafter provided) to
commence on the 1st day of May nineteen hundred and 97, and to end on the
                30th day of April 2000
both dates inclusive, at an annual rental rate of

See Rider annexed, Article 40.

which Tenant agrees to pay in lawful money of the United States which shall be
legal tender in payment of all debts and dues, public and private, at the time
of payment, in equal monthly installments in advance on the first day of each
month during said term, at the office of Owner or such other place as Owner may
designate, without any set off or deduction whatsoever, except that Tenant shall
pay the first monthly installment(s) on the execution hereof (unless this lease
be a renewal).

     In the event that, at the commencement of the term of this lease, or
thereafter, Tenant shall be in default in the payment of rent to Owner pursuant
to the terms of another lease with Owner or with Owner's predecessor in
interest. Owner may at Owner's option and without notice to Tenant add the
amount of such arrears to any monthly installment of rent payable hereunder and
the same shall be payable to Owner as additional rent.

     The parties hereto, for themselves, their heirs, distributees, executors,
administrators, legal representatives, successors and assigns, hereby covenant
as follows:

Rent      1. Tenant shall pay the rent as above and as hereinafter provided.
Occupancy 2. Tenant shall use and occupy demised premises for general offices
                                                       and for no other purpose.

Tenant Alterations:

3. Tenant shall make no changes in or to the demised premises of any nature
without Owner's prior written consent. Subject to the prior written consent of
Owner, and to the provisions of this article, Tenant at Tenant's expense, may
make alterations, installations, additions or improvements which are non-
structural and which do not affect utility services or plumbing and electrical
lines, in or to the interior of the demised premises by using contractors or
mechanics first approved by Owner. Tenant shall, before making any alterations
additions, installations or improvements, at its expense, obtain all permits,
approvals and certificates required by any governmental or quasi-governmental
bodies and (upon completion) certificates of final approval thereof and shall
deliver promptly duplicates of all such permits, approvals and certificates to
Owner and Tenant agrees to carry and will cause Tenant's contractors and sub-
contractors to carry such workman's compensation, general liability, personal
and property damage insurance as Owner may require. If any mechanic's lien is
filed against the demised premises, or the building of which the same forms a
part, for work claim or to have been done, or, materials furnished to, Tenant,
whether or not done pursuant to this article, the same shall be discharged by
Tenant within thirty days thereafter, at Tenant's expense, by filing the bond
required by law. All fixtures and all paneling, partitions, railings and like
installations, installed in the premises at any time, either by Tenant or by
Owner in Tenant's behalf, shall, upon installation, become the property of Owner
and shall remain upon and be surrendered with the demised premises unless Owner,
by notice to Tenant no later than twenty days prior to the date fixed as the
termination of this lease, elects to relinquish Owner's right therein and to
have them removed by Tenant, in which event the same shall be removed from the
premises by Tenant prior to the expiration of the lease, at Tenant's expense.
Nothing in this Article shall be construed to give Owner title to or to prevent
Tenant's removal of trade fixtures, moveable office furniture and equipment, but
upon removal of any such from the premises or upon removal of other
installations as may be required by Owner, Tenant shall immediately and at its
expense, repair and restore the premises to the condition existing prior to
installation and repair any damage to the demised premises or the building due
to such removal. All property permitted or required to be removed, by Tenant at
the end of the term remaining in the premises after Tenant's removal shall be
deemed abandoned and may, at the election of Owner, either be retained as
Owner's property or may be removed from the premises by Owner, at Tenant's
expense.

Maintenance and Repairs

4. Tenant shall, throughout the term of this lease, take good care of the
demised premises and the fixtures and appurtenances therein. Tenant shall be
responsible for all damage or injury to the demised premises or any other part
of the building and the systems and equipment thereof, whether requiring
structural or nonstructural repairs caused by or resulting from carelessness,
omission, neglect or improper conduct of Tenant, Tenant's subtenants, agents,
employees, invitees or licensees, or which arise out of any work, labor, service
or equipment done for or supplied to Tenant or any subtenant or arising out of
the installation, use or operation of the property or equipment of Tenant or any
subtenant. Tenant shall also repair all damage to the building and the demised
premises caused by the moving of Tenant's fixtures, furniture and equipment.
Tenant shall promptly make, at Tenant's expense, all repairs in and to the
demised premises for which Tenant is responsible, using only the contractor for
the trade or trades in question, selected from a list of at least two
contractors per trade submitted by Owner. Any other repairs in or to the
building or the facilities and systems thereof for which Tenant is responsible
shall be performed by owner at the Tenant's expense. Owner shall maintain in
good working order and repair the exterior and the structural portions of the
building, including the structural portions of its demised premises, and the
public portions of the building interior and the building plumbing, electrical,
heating and ventilating systems (to the extent such systems presently exist)
serving the demised premises. Tenant agrees to give prompt notice of any
defective condition in the premises for which Owner may be responsible
hereunder. There shall be no allowance to Tenant for diminution of rental value
and no liability on the part of Owner by reason of inconvenience, annoyance or
injury to business arising from Owner or others making repairs, alterations,
additions or improvements in or to any portion of the building or the demised
premises or in and to the fixtures, appurtenances or equipment thereof. It is
specifically agreed that Tenant shall not be entitled to any setoff or reduction
of rent by reason of any failure of Owner to comply with the covenants of this
or any other article of this Lease. Tenant agrees that Tenant's sole remedy at
Law in such instance will be by way of an action for damages for breach of
contract. The provisions of this Article 4 shall not apply in the case of fire
or other casualty which are dealt with in Article 9 hereof.

Window Cleaning:

5. Tenant will not clean nor require, permit, suffer or allow any window in the
demised premises to be cleaned from the outside in violation of Section 202 of
the Labor Law or any other applicable law or of the Rules of the Board of
Standards and Appeals, or of any other Board or body having or asserting
jurisdiction.

Requirements of Law, Fire Insurance, Floor Loads:

6. Prior to the commencement of the lease term, if Tenant is then in possession,
and all times thereafter, Tenant, at Tenant's sole cost and expense, shall
promptly comply with all present and future laws, orders and regulations of all
state, federal, municipal and local governments, departments, commissions and
boards and any direction of any public officer pursuant to law, and all orders,
rules and regulations of the New York Board of Fire Underwriters, Insurance
Services Office, or any similar body which shall impose any violation, order or
duty upon Owner or Tenant with respect to the demised premises, whether or not
arising out of Tenant's use or manner of use thereof, (including Tenant's
permitted use) or, with respect to the building if arising out of Tenant's
<PAGE>

use or manner of use of the premises or the building (including the use
permitted under the lease). Nothing herein shall require Tenant to make
structural repairs or alterations unless Tenant has, by its manner of use of the
demised premises or method of operation therein, violated any such laws,
ordinances, orders, rules, regulations or requirements with respect thereto.
Tenant may, after securing Owner to Owner's satisfaction against all damages,
interest, penalties and expenses, including, but not limited to, reasonable
attorney's fees, by cash deposit or by security bond in an amount and in a
company satisfactory to Owner, contest and appeal any such laws, ordinances,
orders, rules, regulations or requirements provided same is done with all
reasonable promptness and provided such appeal shall not subject owner to
prosecution for a criminal offense or constitute a default under any lease or
mortgage under which owner may be obligated, or cause the demised premises or
any part thereof to be condemned or vacated. Tenant shall not do or permit any
act or thing to be done in or to the demised premises which is contrary to law,
or which will invalidate or be in conflict with public liability, fire or other
policies of insurance at any time carried by or for the benefit of Owner with
respect for the demised premises or the building of which the demised premises
form a part, or which shall or might subject Owner to any liability or
responsibility to any person or for property damage. Tenant shall not keep
anything in the demised premises except as now or hereafter permitted by the
Fire Department, Board of Fire Underwriters, Fire Insurance Rating Organization
or other authority having jurisdiction, and then only in such manner and such
quantity so as not to increase the rate for fire insurance applicable to the
building, nor use the premises in a manner which will increase the insurance
rate for the building or any property located therein over that in effect prior
to the commencement of Tenant's occupancy. Tenant shall pay all costs, expenses,
fines, penalties, or damages, which may be imposed upon Owner by reason of
Tenant's failure to comply with the provisions of this article and if by reason
of such failure the fire insurance rate shall, at the beginning of the lease or
at any time thereafter, be higher than it otherwise would be, then Tenant shall
reimburse Owner, as additional rent hereunder, for that portion of all fire
insurance premiums thereafter paid by Owner which shall have been charged
because of such failure by Tenant. In any action or proceeding wherein Owner and
Tenant are parties, a schedule or "make up" of rate for the building or demised
premises issued by the New York Fire Insurance Exchange, or other body making
fire insurance rates applicable to said premises shall be conclusive evidence of
the facts therein stated and of the several items and charges in the fire
insurance rates then applicable to said premises. Tenant shall not place a load
upon any floor of the demised premises exceeding the floor load per square foot
area which it was designed to carry and which is allowed by law. Owner reserves
the right to prescribe the weight and position of all safes, business machines
and mechanical equipment. Such installations shall be placed and maintained by
Tenant, at Tenant's expense, in settings sufficient, in Owner's judgement, to
absorb and prevent vibration, noise and annoyance.

Subordination:

7. This lease is subject and subordinate to all ground or underlying leases
and to all mortgages which may now or hereafter affect such leases or the real
property of which demised premises are a part and to all renewals,
modifications, consolidations, replacements and extensions of any such
underlying leases and mortgages. This clause shall be self-operative and no
further instrument of subordination shall be required by any ground or
underlying lesson or by any mortgagee, affecting any lease or the real property
of which the demised premises are a part. In confirmation of such subordination,
Tenant shall execute promptly any certificate that Owner may request.

Property - Loss, Damage, Reimbursement, Indemnity:

8. Owner or its agents shall not be liable for any damage to property of Tenant
or of others entrusted to employees of the building, nor for loss of or damage
to any property of Tenant by theft or otherwise, nor for any injury or damage to
persons or property resulting from any cause of whatsoever nature, unless caused
by or due to the negligence of Owner, its agents, servants or employees. Owner
or its agents will not be liable for any such damage caused by other Tenants or
persons in, upon or about said building or caused by operations in construction
of any private, public or quasi public work. If at any time any windows of the
demised premises are temporarily closed, darkened or bricked up (or permanently
closed, darkened or bricked up, if required by law) for any reason whatsoever
including, but not limited to Owner's own acts, Owner shall not be liable for
any damage Tenant may sustain thereby and Tenant shall not be entitled to any
compensation therefor nor abatement or diminution of rent nor shall the same
release Tenant from its obligations hereunder nor constitute an eviction. Tenant
shall indemnify and save harmless Owner against and from all liabilities,
obligation, damages, penalties, claims, costs and expenses for which Owner shall
not be reimbursed by insurance, including reasonable attorneys' fees, paid,
suffered or incurred as a result of any breach by Tenant, Tenant's agents,
contractors, employees, invitees, or licensees, of any covenant or condition of
this lease, or the carelessness, negligence of improper conduct of the Tenant,
Tenant's agents, contractors, employees, invitees or licenses Tenant's liability
under this lease extends to the acts and omissions of any sub-tenant, and any
agent, contractor, employee, invitee or licensee of any sub-tenant. In case any
action or proceeding is brought against Owner by reason of any such claim,
Tenant, upon written notice from Owner, will, at Tenant's expense, resist or
defend such action or proceeding by counsel approved by Owner in writing, such
approval not to be unreasonably withheld.

Destruction, Fire and Other Casualty:

9. (a) if the demised premises or any part thereof shall be damaged by fire or
other casualty, Tenant shall give immediate notice thereof to Owner and this
lease shall commence in full force and effect except as hereinafter set forth
(b) If the demised premises are partially damaged or rendered partially unusable
by fire or other casualty, the damages thereto shall be repaired by and at the
expense of Owner and the rent, until such repair shall be substantially
completed, shall be apportioned from the day following the casualty according to
the part of the premises which is usable. (c) If the demised premises are
totally damaged or rendered wholly unusable by fire or other casualty, then the
rent shall be proportionately paid up to the time of the casualty and
thenceforth shall cease until the date when the premises shall have been
repaired and restored by Owner, subject to Owner's right to elect not to restore
the same as hereinafter provided. (d) If the demised premises are rendered
wholly unusable or (whether or not the demised premises are damaged in whole or
in part) if the building shall be so damaged that Owner shall decide to demolish
it or to rebuild it, then, in any of such events, Owner may elect to terminate
this lease by written notice to Tenant, given within 90 days after such fire or
casualty, specifying a date for the expiration of the lease, which date shall
not be more than 60 days after the giving of such notice, and upon the date
specified in such notice the term of this lease shall expire as fully and
completely as if such date were the date set forth above for the termination of
this lease and Tenant shall forthwith quit, surrender and vacate the premises
without prejudice however, to Landlord's rights and remedies against Tenant
under the lease provisions in effect prior to such termination, and any rent
owing shall be paid up to such date and any payments of rent made by Tenant
which were on account of any period subsequent to such date shall be returned to
Tenant. Unless Owner shall serve a termination notice as provided for herein,
Owner shall make the repairs and restorations under the conditions of (b) and
(c) hereof, with all reasonable expedition, subject to delays due to adjustment
of insurance claims, labor troubles and causes beyond Owner's control. After any
such casualty, Tenant shall cooperate with Owner's restoration, by removing from
the premises as promptly as reasonably possible, all of Tenants salvageable
inventory and movable equipment, furniture, and other property. Tenant's
liability for rent shall resume five (5) days after written notice from Owner
that the premises are substantially ready for Tenant's occupancy (e) Nothing
contained hereinabove shall relieve Tenant from liability that may exist as a
result of damage from fire or other casualty. Notwithstanding the foregoing,
each party shall look first to any insurance in its favor before making any
claim against the other party for recovery for loss or damage resulting from
fire or other casualty, and to the extent that such insurance is in force and
collectible and to the extent permitted by law. Owner and Tenant each hereby
releases and waives all right of recovery against the other or any one claiming
through or under each of them by way of subrogation or otherwise. The foregoing
release and waiver shall be in force only if both releasors' insurance policies
contain a clause providing that such a release or waiver shall not invalidate
the insurance. If, and to the extent, that such waiver can be obtained only by
the payment of additional premiums, then the party benefitting from the waiver
shall pay such premium within ten days after written demand or shall be deemed
to have agreed that the party obtaining insurance coverage shall be free of any
further obligation under the provisions hereof with respect to waiver of
subrogation. Tenant acknowledges that owner will not carry insurance on Tenant's
furniture and/or furnishings or any fixtures or equipment, improvements, or
appurtenances removable by Tenant and agrees that Owner will not be obligated to
repair any damage thereto or replace the same. (f) Tenant hereby waives the
provisions of Section 227 of the Real Property Law and agrees that the
provisions of this article shall govern and control in lieu thereof.

Eminent Domain:

10. If the whole or any part of the demised premises shall be acquired or
condemned by Eminent Domain for any public or quasi public use or purpose, then
and in that event, the term of this lease shall cease and terminate from the
date of title vesting in such proceeding and Tenant shall have no claim for the
value of any unexpired Term of said lease and assigns to Owner, Tenant's entire
interest in any such award.

Assignment, Mortgage, Etc.:

11. Tenant, for itself, its heirs, distributees, executors, administrators,
legal representatives, successors and assigns, expressly covenants that it shall
not assign, mortgage or encumber this agreement, nor underlet, or suffer or
permit the demised premises or any part thereof to be used by others, without
the prior written consent of Owner in each instance. Transfer of the majority of
the stock of a corporate Tenant shall be deemed an assignment. If this lease be
assigned, or if the demised premises or any part thereof be underlet or occupied
by anybody other than Tenant, Owner may, after default by Tenant, collect rent
from the assignee, under Tenant or occupant, and apply the net amount collected
to the rent herein reserved, but no such assignment, underletting, occupancy or
collection shall be deemed a waiver of this covenant or the acceptance of the
assignee, under Tenant or occupant as tenant, or a release of Tenant from the
further performance by Tenant of covenants on the part of Tenant herein
contained. The consent by Owner to an assignment or underletting shall not in
any wise be construed to relieve Tenant from obtaining the express consent in
writing of Owner to any further assignment or underletting.

Electric Current:

12. Rates and conditions in respect to submetering or rent inclusion, as the
case may be, to be added in RIDER attached hereto. Tenant covenants and agrees
that at all times its use of electric current shall not exceed the capacity of
existing feeders to the building or the risers or wiring installation and Tenant
may not use any electrical equipment which, in Owner's opinion, reasonably
exercised, will overload such installations or interfere with the use thereof by
other Tenants of the building. The change at any time of the character of
electric service shall in no wise make Owner liable or responsible to Tenant,
for any loss, damages or expenses which Tenant may sustain.

Access to Premises:

13. Owner or Owner's agents shall have the right (but shall not be obligated) to
enter the demised premises in any emergency at any time, and, at other
reasonable times, to examine the same and to make such repairs, replacements and
improvements as owner may deem necessary and reasonably desirable to the demised
premises or to any other portion of the building or which Owner may elect to
perform. Tenant shall permit Owner to use and maintain and replace pipes and
conduits in and through the demised premises and to erect new pipes and conduits
therein provided they are concealed within the walls, floor, or ceiling. Owner
may, during the progress of any work in the demised premises, take all necessary
materials and equipment into said premises without the same constituting an
eviction nor shall the Tenant be entitled to any abatement of rent while such
work is in progress nor to any damages by reason of loss or interruption of
business or otherwise. Throughout the term hereof Owner shall have the right to
enter the demised premises at reasonable hours for the purpose of showing the

------------------
Rider to be added if necessary.
<PAGE>

same to prospective purchasers or mortgagees of the building, and during the
last six months of the term for the purpose of showing the same to prospective
tenants. If Tenant is not present to open and permit an entry into the premises,
Owner or Owner's agents may enter the same whenever such entry may be necessary
or permissible by master key or forcibly and provided reasonable care is
exercised to safeguard Tenant's property, such entry shall not render Owner or
its agents liable therefor, nor in any event shall the obligations of Tenant
hereunder be affected. If during the last month of the term Tenant shall have
removed all or substantially all of Tenant's property therefrom, Owner may
immediately enter, alter, renovate or redecorate the demised premises without
limitations or abatement of rent, or incurring liability to Tenant for any
compensation and such act shall have no effect on this lease or Tenant's
obligations hereunder.

Vault, Vault Space, Area:

14. No vaults, vault space or area, whether or not enclosed or
covered, not within the property line of the building is leased hereunder,
anything contained in or indicated on any sketch, blue print or plan, or
anything contained elsewhere in this lease to the contrary notwithstanding.
Owner makes no representation as to the location of the property line of the
building. All vaults and vault space and all such areas not within the property
line of the building, which Tenant may be permitted to use and/or occupy, is to
be used and/or occupied under a revocable license, and if any such license be
revoked, or if the amount of such space or area be diminished or required by any
federal, state or municipal authority or public utility, Owner shall not be
subject to any liability nor shall Tenant be entitled to any compensation or
diminution or abatement of rent, nor shall such revocation, diminution or
requisition be deemed constructive or actual eviction. Any tax, fee or charge of
municipal authorities for such vault or areas shall be paid by Tenant.

Occupancy:

15. Tenant will not at any time use or occupy the demised premises in violation
of the certificate of occupancy issued for the building of which the demised
premises are a part. Tenant has inspected the premises and accepts them as is,
subject to the riders annexed hereto with respect to Owner's work, if any. In
any event, Owner makes no representation as to the condition of the premises and
Tenant agrees to accept the same subject to violations, whether or not of
record.

Bankruptcy:

16. (a) Anything elsewhere in this lease to the contrary notwithstanding, this
lease may be cancelled by Owner by the sending of a written notice to Tenant
within a reasonable time after the happening of any one or more of the following
events: (1) the commencement of a case in bankruptcy or under the laws of any
state naming Tenant as the debtor; or (2) the making by Tenant of an assignment
or other arrangement for the benefit of creditors under any state statute.
Neither Tenant nor any person claiming through or under Tenant, or by reason of
any statute or order of court, shall thereafter be entitled to possession of the
premises demised but shall forthwith quit and surrender the premises. If this
lease shall be assigned in accordance with its terms, the provisions of this
Article 16 shall be applicable only to the party then owning Tenant's interest
in this lease.

(b) It is stipulated and agreed that in the event of the
termination of this lease pursuant to (a) hereof, Owner shall forthwith,
notwithstanding any other provisions of this lease to the contrary, be entitled
to recover from Tenant as and for liquidated damages an amount equal to the
difference between the rent reserved hereunder for the unexpired portion of the
term demised and the fair and reasonable rental value of the demised premises
for the same period. In the computation of such damages the difference between
any installment of rent becoming due thereunder after the date of termination
and the fair and reasonable rental value of the demised premises for the period
for which such installment was payable shall be discounted to the date of
termination at the rate of four percent (4%) per annum. If such premises or any
part thereof, be relet by the Owner for the unexpired term of said lease, or any
part thereof, before presentation of proof of such liquidated damages to any
court, commission or tribunal, the amount of rent reserved upon such reletting
shall be deemed to be fair and reasonable rental value for the part or the whole
of the premises so re-let during the term of the re-letting. Nothing herein
contained shall limit or prejudice the right of the Owner to prove for and
obtain as liquidated damages by reason of such termination, an amount equal to
the maximum allowed by any statute or rule of law in effect at the time when,
and governing the proceeding in which, such damages are to be proved, whether or
not such amount be greater, equal to, or less than the amount of the difference
referred to above.

Default:

17. (1) If Tenant defaults in fulfilling any of the covenants of this lease
other than the covenants for the payment of rent or additional rent; of if the
demised premises become vacant or deserted; of if any execution or attachment
shall be issued against Tenant or any of Tenant's property whereupon the demised
premises shall be takess or occupied by someone other than Tenant; or if this
lease be rejected under SS215 of Title II of the U.S. Code (bankruptcy code); or
if Tenant shall fail to move into or take possession of the premises within
fifteen (15) days after the commencement of the term of this lease, then, in any
one or more of such events, upon Owner serving a written five (5) days notice
upon Tenant specifying the nature of said default and upon the expiration of
said five (5) days, if Tenant shall have failed to comply with or remedy such
default, of if the said default or omission complained of shall be of a nature
that the same cannot be completely cured or remedied within said five (5) day
period, and if Tenant shall not have diligently commenced during such default
within such five (5) day period, and shall not thereafter with reasonable
diligence and in good faith, proceed to remedy or cure such default, then Owner
may serve a written three (3) days' notice of cancellation of this lease upon
Tenant, and upon the expiration of said three (3) days this lease and the term
thereunder shall end and expire as fully and completely as if the expiration of
such three (3) day period were the day herein definitely fixed for the end and
expiration of this lease and the term thereof and Tenant shall then quit and
surrender the demised premises to Owner but Tenant shall remain liable as
hereinafter provided.

(2) If the notice provided for in (1) hereof shall have been given, and the term
shall expire as aforesaid; or if Tenant shall make default in the payment of the
rent reserved herein or any item of additional rent herein mentioned or any part
of either or in making any other payment herein required; then and in any of
such events Owner may without notice, re-enter the demised premises either by
force or otherwise, and dispossess Tenant by summary proceedings or otherwise,
and the legal representative of Tenant or other occupant of demised premises and
remove their effects and hold the premises as if this lease had not been made,
and Tenant hereby waives the service of notice of intention to re-enter or to
institute legal proceedings to that end. If Tenant shall make default hereunder
prior to the date fixed as the commencement of any renewal or extension of this
lease, Owner may cancel and terminate such renewal or extension agreement by
written notice.

Remedies of Owner and Waiver of Redemption:

18. In case of any such default, re-entry, expiration and/or
dispossess by summary proceedings or otherwise, (a) the rent shall become
due thereupon and be paid up to the time of such re-entry, dispossess and/or
expiration, (b) Owner may re-let the premises or any part or parts thereof,
either in the name of Owner or otherwise, for a term or terms, which may at
Owner's option be less than or exceed the period which would otherwise have
constituted the balance of the term of this lease and may grant concessions or
free rent or charge a higher rental than that in this lease, and/or (c) Tenant
or the legal representatives of Tenant shall also pay Owner as liquidated
damages for the failure of Tenant to observe and perform said Tenant's covenants
herein contained, any deficiency between the rent hereby reserved and/or
covenanted to be paid and the net amount, if any, of the rents collected on
account of the lease or leases of the demised premises for each month of the
period which would otherwise have constituted the balance of the term of this
lease. The failure of Owner to re-let the premises or any part or parts thereof
shall not release or affect Tenant's liability for damages. In computing such
liquidated damages there shall be added to the said deficiency such expenses as
Owner may incur in connection with re-letting, such as legal expenses,
attorneys' fees, brokerage, advertising and for keeping the demised premises in
good order or for preparing the same for re-letting. Any such liquidated damages
shall be paid in monthly installments by Tenant on the rent day specified in
this lease and any suit brought to collect the amount of the deficiency for any
months shall not prejudice in any way the rights of Owner to collect the
deficiency for any subsequent month by a similar proceeding. Owner, in putting
the demised premises in good order or preparing the same for re-rental may, at
Owner's option, make such alterations, repairs, replacements, and/or decorations
in the demised premises as Owner, in Owner's sole judgment, considers advisable
and necessary for the purpose of re-letting the demised premises and the making
of such alterations, repairs, replacements, and/or decorations shall not operate
or be construed to release Tenant from liability hereunder as aforesaid. Owner
shall in no event be liable in any way whatsoever for failure to re-let the
demised premises, or in the event that the demised premises are re-let for
failure to collect the rent thereof under such re-letting, and in no event shall
Tenant be entitled to receive any excess, if any, of such net rents collected
over the sums payable by Tenant to Owner hereunder. In the event of a breach or
threatened breach by Tenant of any of the covenants or provisions hereof, Owner
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. Mention in this lease of any particular remedy, shall not
preclude Owner from any other remedy, in law or in equity. Tenant hereby
expressly waives any and all rights of redemption granted by or under any
present or future laws in the event of Tenant being evicted or dispossessed for
any cause, or in the event of Owner obtaining possession of demised premises, by
reason of the violation by Tenant of any of the covenants and conditions of this
lease, or otherwise.

Fees and Expenses:

19. If Tenant shall default in the observance or performance of any
term or covenant on Tenant's part to be observed or performed under or by
virtue of any of the terms or provisions in any article of this lease, then,
unless otherwise provided elsewhere in this lease, Owner may immediately or at
any time thereafter and without notice perform the obligation of Tenant
thereunder. If Owner, in connection with the foregoing or in connection with any
default by Tenant in the covenant to pay rent hereunder, makes any expenditures
or incurs any obligations for the payment of money, including but not limited to
attorney's fees, in instituting, prosecuting or defending any action or
proceeding, then Tenant will reimburse Owner for such sums so paid or
obligations incurred with interest and costs. The foregoing expenses incurred by
reason of Tenant's default shall be deemed to be additional rent hereunder and
shall be paid by Tenant to Owner within five (5) days of rendition of any bill
or statement to Tenant therefor. If Tenant's lease term shall have expired at
the time of making of such expenditures or incurring of such obligations, such
sums shall be recoverable by Owner as damages.

Building Alterations and Management:

20. Owner shall have the right at any time without the same constituting an
eviction and without incurring liability to Tenant therefore to change the
arrangement and/or location of public entrances, passageways, doors, doorways,
corridors, elevators, stairs, toilets or other public parts of the building and
to change the name, number or designation by which the building may be known.
There shall be no allowance to Tenant for diminution of rental value and no
liability on the part of Owner by reason of inconvenience, annoyance or injury
to business arising from Owner or other Tenants making any repairs in the
building or any such alterations, additions and improvements. Furthermore,
Tenant shall not have any claim against Owner by reason of Owner's imposition of
such controls of the manner of access to the building by Tenant's social or
business visitors as the Owner may deem necessary for the security of the
building and its occupants.

No Representations by Owner:

21. Neither Owner nor Owner's agents have made any representations
or promises with respect to the physical condition of the building, the land
upon which
<PAGE>

it is erected on the demised premises, the rents, leases, expenses of operation
or any other matter or thing affecting or related to the premises except as
herein expressly set forth and no rights, easements or licenses are acquired by
Tenant by implication or otherwise except as expressly set forth in the
provisions of this lease. Tenant has inspected the building and the demised
premises and is thoroughly acquainted with their condition and agrees to take
the same "as is" and acknowledges that the taking of possession of the demised
premises by Tenant shall be conclusive evidence that the said premises and the
building of which the same form a part were in good and satisfactory condition
at the time such possession was so taken, except as to latent defects. All
understandings and agreements heretofore made between the parties hereto are
merged in this contract, which alone fully and completely expresses the
agreement between Owner and Tenant and any executory agreement hereafter made
shall be ineffective to change, modify, discharge or effect an abandonment of
it in whole or in part, unless such executory agreement is in writing and signed
by the party against whom enhancement of the change, modification, discharge or
abandonment is sought.

End of Term:

22. Upon the expiration or other termination of the term of this lease, Tenant
shall quit and surrender to Owner the demised premises, broom clean, in good
order and condition, ordinary wear and damages which Tenant is not required to
repair as provided elsewhere in this lease excepted, and Tenant shall remove all
its property. Tenant's obligation to observe or perform this covenant shall
survive the expiration or other termination of this lease. If the last day of
the term of this Lease or any renewal thereof, falls on Sunday, this lease shall
expire at noon on the preceding Saturday unless it be a legal holiday in which
case it shall expire at noon on the preceding business day.

Quiet Enjoyment:

23. Owner covenants and agrees with Tenant that upon Tenant paying the rent and
additional rent and observing and performing all the terms, covenants and
conditions, on Tenant's part to be observed and performed, Tenant may peaceably
and quietly enjoy the premises hereby demised, subject, nevertheless, to the
terms and conditions of this lease including, but not limited to, Article 11
hereof and to the ground leases, underlying leases and mortgages hereinbefore
mentioned.

Failure to Give Possession:

24. If Owner is unable to give possession of the demised premises on the date of
the commencement of the term hereof, because of the holding over or retention of
possession of any tenant, undertenant or occupants or if the demised premises
are located in a building being constructed, because such building has not been
sufficiently completed to make the premises ready for occupancy or because of
the fact that a certificate of occupancy has not been procured or for any other
reason, Owner shall not be subject to any liability for failure to give
possession on said date and the validity of the lease shall not be impaired
under such circumstances, nor shall the same be construed in any wise to
extend the term of this lease, but the rent payable hereunder shall be
abated (provided Tenant is not responsible for Owner's inability to obtain
possession) until after Owner shall have given Tenant written notice that the
premises are substantially ready for Tenant's occupancy. If permission is given
to Tenant to enter into the possession of the demised premises or to occupy
premises other than the demised premises prior to the date specified as the
commencement of the term of this lease, Tenant covenants and agrees that such
occupancy shall be deemed to be under all the terms, covenants, conditions and
provisions of this lease, except as to the covenant to pay rent. The provisions
of this article are intended to constitute "an express provision to the
contrary" within the meaning of Section 221a of the New York Real Property Law.

No Waiver:

25. The failure of Owner to seek redress for violation of, or to insist upon the
strict performance of any covenant or condition of this lease or of any of the
Rules or Regulations, set forth or hereafter adopted by Owner, shall not prevent
a subsequent act which would have originally constituted a violation from having
all the force and effect of an original violation. The receipt by Owner of rent
with knowledge of the breach of any covenant of this lease shall not be deemed a
waiver of such breach and no provision of this lease shall be deemed to have
been waived by Owner unless such waiver be in writing signed by Owner. No
payment by Tenant or receipt by Owner of a lesser amount than the monthly rent
herein stipulated shall be deemed to be other than on account of the earliest
stipulated rent, nor shall any endorsement or statement of any check or any
letter accompanying any check or payment as rent be deemed an accord and
satisfaction, and Owner may accept such check or payment without prejudice to
Owner's right to recover the balance of such rent or pursue any other remedy in
this lease provided. No act or thing done by Owner or Owner's agents during the
term hereby demised shall be deemed an acceptance of a surrender of said
premises, and no agreement to accept such surrender shall be valid unless in
writing signed by Owner. No employee of Owner or Owner's agent shall have any
power to accept the keys of said premises prior to the termination of the lease
and the delivery of keys to any such agent or employee shall not operate as a
termination of the lease or a surrender of the premises.

Waiver of Trial by Jury:

26. It is mutually agreed by and between Owner and Tenant that the respective
parties hereto shall and they hereby do waive trial by jury in any action,
proceeding or counterclaim brought by either of the parties hereto against the
other (except for personal injury or property damage) on any matters whatsoever
arising out of or in any way connected with this lease, the relationship of
Owner and Tenant, Tenant's use of or occupancy of said premises, and any
emergency statutory or any other statutory remedy. It is further mutually agreed
that in the event Owner commences any summary proceeding for possession of the
premises, Tenant will not interpose any counterclaim of whatever nature or
description in any such proceeding including a counterclaim under Article 4.

Inability to Perform:

27. This Lease and the obligation of Tenant to pay rent hereunder and perform
all of the other covenants and agreements hereunder on part of Tenant to be
performed shall in no wise be affected, impaired or excused because Owner is
unable to fulfill any of its obligations under this lease or to supply or is
delayed in supplying any service expressly or impliedly to be supplied or is
unable to make, or is delayed in making any repair, additions, alterations or
decorations or is unable to supply or is delayed in supplying any equipment or
fixtures if Owner is prevented or delayed from so doing by reason of strike or
labor troubles or any cause whatsoever including, but not limited to, government
preemption in connection with a National Emergency or by reason of any rule,
order or regulation of any department or subdivision thereof of any government
agency or by reason of the conditions of supply and demand which have been or
are affected by war or other emergency.

Bills and Notices:

28. Except as otherwise in this lease provided, a bill, statement, notice or
communication which Owner may desire or be required to give to Tenant, shall be
deemed sufficiently given or rendered if, in writing, delivered to Tenant
personally or sent by registered or certified mail addressed to Tenant at the
building of which the demised premises form a part or at the last known
residence address or business address of Tenant or left at any of the aforesaid
premises addressed to Tenant, and the time of the rendition of such bill or
statement and of the giving of such notice or communication shall be deemed to
be the time when the same is delivered to Tenant, mailed, or left at the
premises as herein provided. Any notice by Tenant to Owner must be served by
registered or certified mail addressed to Owner at the address first herein-
above given or at such other address as Owner shall designate by written notice.

Services Provided by Owners:

29. As long as Tenant is not in default under any of the covenants of this
lease, Owner shall provide: (a) necessary elevator facilities on business days
from 8 a.m. to 6 p.m. and on Saturdays from 8 a.m. to 1 p.m. and have one
elevator subject to call at all other times; (b) heat to the demised premises
when and as required by law, on business days from 8 a.m. to 6 p.m. and on
Saturdays from 8 a.m. to 1 p.m.; (c) water for ordinary lavatory purposes, but
if Tenant uses or consumes water for any other purposes or in unusual quantities
(of which fact Owner shall be the sole judge), Owner may install a water meter
at Tenant's expense which Tenant shall thereafter maintain at Tenant's expense
in good working order and repair to register such water consumption and Tenant
shall pay for water consumed as shown on said meter as additional rent as and
when bills are rendered; (d) cleaning service for the demised premises on
business days at Owner's expense provided that the same are kept in order by
Tenant. If, however, said premises are to be kept clean by Tenant, it shall be
done at Tenant's sole expense, in a manner satisfactory to Owner and no one
other than persons approved by Owner shall be permitted to enter said premises
or the building of which they are a part for such purpose. Tenant shall pay
Owner the cost of removal of any of Tenant's refuse and rubbish from the
building; (e) if the demised premises are serviced by Owner's air
conditioning/cooling and ventilating system, air conditioning/cooling will be
furnished to tenant from May 15th through September 30th on business days
(Mondays through Fridays, holidays excepted) from 8:00 a.m. to 6:00 p.m., and
ventilation will be furnished on business days during the aforesaid hours except
when air conditioning/cooling is being furnished as aforesaid. If Tenant
requires air conditioning/cooling or ventilation for more extended hours or on
Saturdays, Sundays or on holidays, as defined under Owner's contract with
Operating Engineers Local 94-94A, Owner will furnish the same at Tenant's
expense. RIDER to be added in respect to rates and conditions for such
additional service; (f) Owner reserves the right to stop services of the
heating, elevators, plumbing, air conditioning, power systems or cleaning or
other services, if any, when necessary by reason of accident or for repairs,
alterations, replacements or improvements necessary or desirable in the judgment
of Owner for as long as may be reasonably required by reason thereof. If the
building of which the demised premises are a part supplies manually-operated
elevator service, Owner at any time may substitute automatic-control elevator
service and upon ten days' written notice to Tenant, proceed with alterations
necessary therefor without in any wise affecting this lease or the obligation of
Tenant hereunder. The same shall be done with a minimum of inconvenience to
Tenant and Owner shall pursue the alteration with due diligence.

Captions:

30. The Captions are inserted only as a matter of convenience and for reference
and in no way define, limit or describe the scope of this lease nor the intent
of any provisions thereof.

Definitions:

31. The term "office", or "offices", wherever used in this lease, shall not be
construed to mean premises used as a store or stores, for the sale or display,
at any time, of goods, wares or merchandise, of any kind, or as a restaurant,
shop, booth, boothblack or other stand, barber shop, or for other similar
purposes or for manufacturing. The term "Owner" means a landlord or lessor, and
as used in this lease means only the owner, or the mortgagee in possession, for
the time being of the land and building (or the owner of a lease of the building
or of the land and building) of which the demised premises form a part, so that
in the event of any sale or sales of said land and building, or of said lease,
or in the event of a lease of said building, or of the land and building, the
said Owner shall be and hereby is entirely freed and relieved of all covenants
and obligations of Owner hereunder, and it shall be deemed and construed without
further agreement between the parties or their successors in interest, or
between the parties and the purchaser, at any such sale, or the said lessee of
the building, or of the land and building, that the purchaser or the lessee of
the building has assumed and agreed to carry out any and all covenants and
obligations of Owner, hereunder. The words "re-enter" and "re-entry" as used in
this lease are not restricted to their technical legal meaning. The term
"business days" as used in this lease shall exclude Saturdays (except such
portion thereof as is covered by specific hours in Article 29 hereof). Sundays
and all days observed by the State or Federal Government as legal holidays and
those designated as holidays by the applicable building service union employees
service contract or by the applicable Operating Engineers contract with respect
to HVAC service.
<PAGE>

                             RIDER ANNEXED TO LEASE
                              DATED MARCH 27, 1997
                                 BY AND BETWEEN
                      45-18 COURT SQUARE, LIC, AS LANDLORD
                                      AND
              COAXICOM, INC. (DBA COMMUNITY TELEPHONE), AS TENANT

Landlord is defined as 45--18 Court Square, LLC, its partners, and successors in
interest.

40. Minimum Annual Rent
    -------------------

   A.  Possession of the Demised Premises shall be deemed to have been delivered
       upon delivery of keys by Landlord to Tenant at the address earlier set
       forth, the premises to be broom clean and May 1, 1997 or upon substantial
       completion as hereinafter set forth (hereinafter the "Possession Delivery
       Date").

   B.  Left Blank Intentionally

   C.  Tenant covenants and agrees to pay to Landlord as Minimum Annual Rent on
       the first day of each month during the term hereof, the following sums:

       (i)    Year 1 -- Thirty--eight thousand dollars ($38,000) and no cents
              per annum, payable in equal monthly installments of Three thousand
              one hundred sixty-six dollars and ($3,166.67) sixty-seven cents
              per month.

       (ii)   Year 2 -- Thirty-nine thousand dollars ($39,000) and no cents per
              annum, payable in equal monthly installments of Three thousand two
              hundred fifty dollars and ($3,250.00) no cents per month.

       (iii)  Year 3 -- Forty thousand dollars ($40,000) and no cents per annum,
              payable in equal monthly installments of Three thousand three
              hundred thirty-three dollars and ($3,333.33) thirty-three cents
              per month.

   D.  Rent due for partial month(s) shall be prorated.

   E.  The above annual sums shall be paid in equal monthly installments, in
       advance, on the first day of each month during said term at the office of
       Owner or at such other place as Owner may designate, without offset or
       deduction whatsoever.

                                       1
<PAGE>

   F.  Tenant shall pay the first month's rent, in the sum of $3,166.67 upon the
       execution of this lease, the receipt of which is hereby acknowledged. The
       payment of the first month's rent will be applied to the first full month
       following expiration of the abatement period.

41. Security Deposit
    ----------------

    Simultaneous with entry into possession of the Demised Premises, Tenant
    shall deposit with Owner the sum of $6,666.66 as security for the faithful
    performance and observance by Tenant of the terms, provisions and conditions
    of this Lease. It is agreed that in the event Tenant defaults in respect of
    any of the terms, provisions and conditions of this Lease, including, but
    not limited to, the payment of rent and additional rent, owner may use,
    apply or retain the whole or any part of the security so deposited to the
    extent required for the payment of any rent and additional rent or any other
    sum to which Tenant is in default or for any sum which Owner may expend or
    may be required by reason of Tenant's default in respect of any of the
    terms, covenants and conditions of this Lease, including but not limited to,
    any damages or deficiency in the re-letting of the premises, whether such
    damages or deficiency accrued before or after summary proceedings or other
    re-entry by Owner. Within thirty (30) days after receipt of written notice
    that Owner has made application of all or any part of the said security
    deposit, Tenant shall deposit with Owner such additional funds as are
    necessary to restore the security deposit to its original amount. In the
    event that Tenant shall fully and faithfully comply with all of the non-
    monetary terms, provisions, covenants and conditions of this Lease, the
    security not required to cure any monetary default or otherwise deducted as
    a result of the physical condition of the premises shall be returned to
    Tenant after the date fixed as the end of the Lease and after delivery of
    entire possession of the Demised Premises to Owner. In the event of a sale
    of the land and building or leasing of the building, of which the Demised
    Premises form a part, Owner shall have the right to transfer the security to
    the vendee or lessee and Owner shall thereupon be released by Tenant from
    all liability for the return of such security, and Tenant agrees to look to
    the new Owner solely for the return of said security; and it is agreed that
    the provisions hereof shall apply to every transfer or assignment made of
    the security to a new Owner. Tenant further covenants that, other than in
    connection with a valid disposition of this Lease in compliance with the
    terms of Article 64 hereof, it will not assign or encumber or attempt to
    assign or encumber the monies deposited herein as security and that neither
    Owner nor its successor or assigns shall be bound by any such assignment,
    encumbrance, attempted assignment or attempted encumbrance.

                                       2
<PAGE>

    Tenant shall, at all times, maintain a rent security deposit equal to two
    (2) month's rent. On each base rent increase date, Owner shall invoice
    Tenant for, and Tenant shall deposit, such further sums with Owner as are
    necessary to satisfy this obligation.

42. Restrictions on Use of the Demised Premises
    -------------------------------------------

    A.  Subject to the provisions of this Lease, Tenant shall use the Demised
        Premises only as offices in accordance with the Certificate of Occupancy
        and for no other purposes.

    B.  Tenant shall not use or permit the use of the Demised Premises or any
        part thereof in any way that would violate any of the covenants,
        agreements, terms, provisions and conditions of this Lease or for any
        unlawful purpose or in any unlawful manner or in violation of the
        Certificate of Occupancy for the Demised Premises or the Building, and
        Tenant shall not suffer or permit the Demised Premises or any part
        thereof to be used in any manner or for anything to be done therein or
        anything to be brought into or be kept therein that, in the judgment of
        Owner, shall in any way threaten to impair or adversely affect the
        character, reputation or appearance of the Building, the proper and
        economical operation of the Building or any systems, facilities or
        services used to operate or clean all or any part of the Building or the
        Demised Premises, or the use of any of the areas of the Building by
        Owner or any of the other Tenants or occupants of the Building. Tenant
        shall not install or use any equipment that, in the judgment of
        Landlord, could cause any adverse effect on the Demised Premises, the
        Building and/or the comfort and convenience of other Tenants and
        occupants of the Building.

43. Landlord shall construct offices in accordance with the attached layout
    drawn by Milowitz Group, all finishes to building standard and in accordance
    with Building Codes. Any additions/changes required by Tenant must be agreed
    to in writing by both parties and shall be at Tenant's sole cost to be paid
    upon written agreement.

    A.  Landlord shall supply and install carpet and base at Landlord's cost.
        Tenant shall have option of choosing carpet from Landlord's samples.

    B.  Landlord shall supply six foot high movable partitions sufficient to
        create five additional offices of approximately 10' X 10'. Owner will
        allow tenant to participate in selection of partitions. Partitions shall
        at all time remain the property of Landlord. Tenant to be responsible
        for damages beyond normal wear and tear.

                                       3
<PAGE>

    C.  Any work performed by Tenant or Tenant's contractors shall be performed
        in a good and workmanlike manner and shall comply with all rules and
        regulations of all Governmental Authorities having jurisdiction therein.

        If Tenant is providing build-out of space or makes any alterations to
        the space, the following paragraphs apply:

     D. Tenant, or any contractor or contractors employed by Tenant, or any
        other persons who will do work or install equipment for Tenant, shall be
        fully covered by Workmen's Compensation Insurance, and the Certificate
        by Tenant or any such contractor or persons as aforesaid. Tenant further
        covenants, at its own cost and expense, to take out and maintain at all
        times during the progress of such work and until completion thereof,
        public liability insurance policies covering Owner in compliance with
        the limits and such other conditions as set forth in Article 49 hereof,
        and certificates evidencing the policies shall be delivered to Owner
        prior to the commencement of any work hereunder.

     E. Tenant's contracts with its contractors and/or other persons who will
        perform work for the Tenant shall require said persons to look solely to
        the Tenant for payment and will hold Owner and the Building free from
        all liens and claims of all persons furnishing labor or materials
        therefor.

     F. Subject to the provisions of this Article, any and all machinery,
        equipment and fixtures installed by Tenant, which are not replacements
        of fixtures either furnished by Owner as part of Owner's work or pre-
        existing in the Demised Premises at the time of the commencement of this
        Lease (sometimes herein referred to as "Tenant's Property") shall remain
        personally, notwithstanding the fact that it may be affixed or attached
        to the realty, and shall, during the term of this Lease or any extension
        thereof, belong to and be removable by Tenant, provided that (a) Tenant
        shall remove said installations prior to the expiration of such term,
        and shall repair any damage caused by said removal and shall deliver the
        Demised Premises to Owner in the same, or better condition, as upon the
        commencement of the term hereof, reasonable wear and tear excepted.
        Prior to the expiration of the term or sooner termination thereof,
        Tenant shall at its own cost and expense remove, from the Demised
        Premises, all of Tenant's property, except such items thereof as Tenant
        shall have expressly agreed in writing with Owner are to become the
        property of the Owner and Tenant shall repair any damage to the Demised
        Premises resulting from such removal. Any Tenant's property remaining in
        the Demised

                                       4
<PAGE>

        Premises after termination of this Lease (except such items as Owner and
        Tenant have expressly agreed in writing are to remain and become the
        property of Owner) shall be deemed to have been abandoned by Tenant or
        any sub-Tenant and either may be retained by Owner as its property or
        may be removed from the premises by Owner at Tenant's expense.

    G.  Machinery, fixtures, chattels or equipment, if any, furnished or
        installed by Tenant, the cost of which is borne by Owner, shall become
        the property of Owner upon payment therefor by Owner, or reimbursement
        of Tenant by Owner, as the case may be, and shall not be removed by
        Tenant. Anything herein contained to the contrary notwithstanding, it is
        understood and agreed that all structural improvements, all plumbing
        lines and equipment (other than fixtures), all electrical wiring,
        conduit and equipment (other than free-standing lighting fixtures), all
        heating and ventilating installations made by Tenant, whether with or
        without contribution or reimbursement by Owner, shall forthwith become
        part of the Building and property of Owner.

        Tenant's failure to comply with any of the items and conditions of this
        Article will be deemed a default pursuant to Article 17 hereof.

44. Utilities
    ---------

    A.  Electricity Service
        -------------------

        (1) Landlord shall contract directly with the public utility company for
            electric service for the Demised Premises. Tenant shall be
            responsible for the payment of the cost of such electric service.
            Such electric service may be furnished to Tenant by means of the
            then existing electrical facilities serving the Premises to the
            extent that the same are available, suitable and safe for such
            purposes. Landlord may, prior to the commencement date, install a
            sub-meter to measure Tenant's electric usage and Tenant shall pay
            for such electric usage at the same rate charged to Landlord by the
            utility company.

        (2) Any additional feeders or risers to be installed to supply Tenant's
            additional electrical requirements, and all other equipment proper
            and necessary in connection with such feeders or risers shall be, at
            Landlord's option, installed by Landlord upon Tenant's request, at
            the sole cost and expense of Tenant (including a connection fee of
            Three Hundred

                                       5
<PAGE>

            Fifty Dollars ($350.00) per kilovolt ampere, provided that, in
            Landlord's reasonable judgment, such additional feeders or risers
            are necessary and are permissible under applicable laws and
            insurance regulations and the installation of such feeders or risers
            will not cause permanent damage or injury to the Building or the
            Premises or cause or create a dangerous or hazardous condition or
            entail excessive or unreasonable alterations or materially interfere
            with or disturb other tenants or occupants of the Building. Tenant
            covenants that, at no time, shall the use of electrical energy in
            the Premises exceed the capacity of the existing feeders or wiring
            installations then serving the Premises. Tenant shall not make or
            perform or permit the making or performance of any alterations to
            wiring installations or other electrical facilities in or serving
            the Premises or any additions to the business machines, office
            equipment or other appliances in the Premises which utilize
            electrical energy without the prior consent of Landlord in each
            instance, which consent shall not be unreasonably withheld or
            delayed.

        (3) Landlord shall not be liable to Tenant in any way for any
            interruption, curtailment or failure, or defect in the supply or
            character of electricity furnished to the Premises by reason of any
            requirement, act or omission of Landlord or of any public utility or
            other company servicing the Building with electricity or for any
            other reason, except if caused by Landlord's negligence or willful
            misconduct.

            Landlord reserves the right to estimate electric costs and Tenant
            specifically agrees to pay estimated costs which shall be confirmed
            by an outside source no less than twice yearly.

45. Services
    --------

    (1) Cleaning services by Landlord at the additional charges of $1.50 per
        square foot, to building standards plus actual increases from outside
        cleaning company. No medical waste shall be removed by Landlord.

    (2) HVAC - Landlord shall install the HVAC system and Landlord shall
        maintain and repair same during the term of the Lease at the Landlord's
        sole cost and expense and on the termination of the Lease, Tenant shall
        deliver the Premises with the HVAC system in working order, free and

                                       6
<PAGE>

        clear of all liens and encumbrances. Tenant shall pay for electricity
        for its own cooling, at its sole cost and expense, through the HVAC
        system.

    (3) Service elevator other than Monday through Friday, 8:00 AM through 4:00
        PM, at the rate of $50.00 per hour, subject to 48-hour written notice.

46. Security Agreements
    -------------------

    A.  Tenant covenants and agrees that no security agreement, whether by way
        of conditional bill of sale, chattel, mortgage or instrument of similar
        import, shall be placed upon any improvement made by Tenant which is
        affixed to the realty.

    B.  In the event that any of the machinery, fixtures, furniture and
        equipment installed by Tenant in the Demised Premises are purchased or
        acquired by Tenant subject to a chattel, mortgage, conditional sale
        agreement or other title retention or security agreement, Tenant
        undertakes and agrees (1) that no such chattel, mortgage, conditional
        sales agreement or other title retention or security agreement or
        Uniform Commercial Code filing statement shall be permitted to be filed
        as a lien against the building and real property of which the Demised
        Premises form a part, and (2) to cause to be inserted in any of the
        above-described title retention, chattel, mortgage or security
        agreements the following provision:

        "Notwithstanding anything to the contrary herein, this chattel,
        mortgage, conditional sale agreement, title retention agreement or
        security agreement shall not create or be filed as a lien against the
        land, building and improvements comprising the real property in which
        the goods, machinery, equipment, appliances or other personal property
        covered hereby are to be located or installed."

    C.  If any such lien or UCC financing statement, based on an agreement as
        above described, is filed against the building and improvements, of
        which the Demised Premises form a part, Tenant will, upon at least ten
        (10) days' prior written notice thereof from Owner, cause such lien or
        notice to be removed or discharged at Tenant's cost and expense, and
        Tenant's failure to do so shall constitute a breach of a material
        provision of this Lease.

                                       7
<PAGE>

47  Mechanic's Liens
    ----------------

    A.  Tenant shall have no power to do any act or make any contract which may
        create or be the foundation for any lien upon the reversion of Owner,
        the Premises herein Demised or Owner's building and improvements, it
        being agreed that should Tenant cause any alterations, changes,
        additional improvements or repairs to be made to the Demised Premises,
        or material furnished or labor performed therein or thereon, neither
        Owner for the Demise Premises shall, under any circumstances, be liable
        for the payment of any expenses incurred or for the value of any such
        work done or material furnished to the Demised Premises or any part
        thereof, but all such alterations, changes, additions, improvements and
        repairs and materials and labor shall be at Tenant's expense and Tenant
        shall be solely and wholly responsible to contractors, laborers, and
        materialmen furnishing labor and material to said premises and building,
        or any part thereof, for or on behalf of Tenant.

    B.  Tenant shall not suffer or permit any mechanic's liens to be filed
        against the fee ownership of the Demised Premises nor against Tenant's
        leasehold interest in said premises, by reason of work, labor, services
        or materials supplied or claimed to have been supplied to Tenant or to
        any occupant of the Demised Premises. If any such mechanic's lien shall
        at any time be filed against the Demised Premises or the building and
        improvements thereon, Tenant shall, at its own cost and expense, cause
        the same to be cancelled and discharged of record by surety bond or
        appropriate cash deposit within thirty (30) days after the date of
        filing the same and notice thereof to Tenant, and Tenant shall indemnify
        and save harmless Owner from and against any and all costs, expenses,
        claims, losses or damages resulting therefrom or by reasons thereof.

    C.  Tenant shall also defend on behalf of Owner, at Tenant's sole cost and
        expense, any action, suit or proceedings which may be brought thereon or
        for the enforcement of such liens or orders, and Tenant shall pay any
        damages and satisfy and discharge any judgment entered thereon and save
        harmless Owner from any claim or damage resulting therefrom.

    D.  If Tenant shall fail to discharge such mechanic's lien within such
        period, then, in addition to any other right or remedy of Owner, Owner
        may, but shall not be obligated to, discharge the same, either by paying
        the amount claimed to be due or by procuring the discharge of such lien
        by deposit in court or bonding, and in any such

                                       8
<PAGE>

        event, Owner shall be entitled, if Owner so elects, to compel the
        prosecution of an action for the foreclosure of such mechanic's lien by
        the lienor and to pay the amount of the judgment, if any, in favor of
        the lienor, with interest, costs and allowances.

    E.  Any amount paid by Owner for any of the aforesaid charges and all
        reasonable legal and other expenses of Owner, including reasonable
        counsel fees, in defending any such action in procuring the discharge of
        said lien, with all necessary disbursements in connection therewith,
        with interest thereon at the then legal rate of imputed interest from
        the date of payment, shall be repaid within a period of twenty (20) days
        after written demand therefor by Owner to Tenant, and may be treated as
        Additional Rent payable with the next installment of Annual Basic Rent.

    F.  Prior to the commencement of any work in the Demised Premises by any
        general contractor employed by Tenant or by any sub-contractors employed
        by such general contractor, or sub-contractors employed by Tenant,
        Tenant shall:

        (1) furnish Owner with Tenant's written statement setting forth the name
            and business address of the Tenant's general contractor or sub-
            contractors employed by Tenant;

        (2) obtain and furnish to Owner a written list of all sub-contractors
            employed or to be employed by Tenant's general contractor and
            certified by the general contractor

48. Owner's Exculpation/No Recourse
    -------------------------------

    If the Owner or any successor-in-interest be an individual, joint venture,
    tenancy-in-common, co-partnership, unincorporated association, limited
    partnership or other unincorporated group of individuals, or a corporation
    (all of which are referred to below, individually, and collectively, as an
    "Owner Entity"), then, anything herein to the contrary notwithstanding,
    Tenant shall look solely to the interest of such Owner Entity in the
    building in satisfaction of Tenant's remedies for the collection of a
    judgment (or other judicial process) requiring the payment of money by
    Owner, in the event of any default or breach by Owner with respect to any of
    the terms, covenants and conditions of this Lease to be observed and/or
    performed by Landlord, and no other property or assets of such Owner Entity
    or any member thereof, shall be subject to levy, execution or other
    enforcement procedure for the satisfaction of Tenant's remedies.

                                       9
<PAGE>

49. Parties' Certificates
    ---------------------

    The Parties each shall, without charge at any time, and from time to time,
    within ten (10) days after request by the other, certify to any mortgagee,
    proposed assignee of any mortgagee, or proposed purchaser or any other
    person, firm or corporation specified by the requesting party:

    a)  That this Lease is unmodified and in full force and effect (or, if there
        has been modification, that the same is in full force and effect as
        modified and stating the modifications);

    b)  Whether or not there are then existing any set-offs or defenses against
        the enforcement of any of the agreements, terms, covenants or conditions
        hereof upon the part of the Tenant to be performed or complied with
        (and, if so, specifying the same); and

    c)  The dates, if any, to which the rental and other charges hereunder have
        been paid in advance.

50. Liability Insurance and Indemnification
    ---------------------------------------

    A.  During the term hereof, Tenant shall, at its own cost and expense:

        1)  Obtain, maintain and keep in force, for the benefit of Owner,
            Managing Agent and Tenant, comprehensive general liability insurance
            covering the risks in the limits set forth below, on or about the
            Demised Premises (which shall include Tenant's signs, if any):

            a)  Bodily Injury:

                Each person .......... $1,000,000.00
                Each Occurrence ....... $1,000,000.00

            b)  Property Damage:

                Each Occurrence....... $ 500,000.00

            c)  Completed operations and contractual liability with the same
                bodily injury and property damage limits stated in (a) and (b)
                above.

            d)  Fire and extended coverage for Tenant's fixtures, alterations
                and inventory in an amount adequate to cover the cost of
                replacement, but not less than $100,000.00.

                                      10
<PAGE>

     B.   Owner and its managing agent, Et-Al Management Corp., shall be named
          as an additional insured in said policies, as their interests may
          appear, and shall be protected against all liability occasioned by an
          occurrence insured against. All said policies of insurance shall be
          issued by insurance companies reasonably satisfactory to Owner and
          which are authorized to do business in the State of New York. Tenant
          shall deliver to Owner the policies of insurance, together with
          evidence of the payment of premiums thereon within ten (10) days of
          taking occupancy of the Demised Premises and furnish to Owner at least
          twenty (20) days prior to the expiration of any such policies, a new
          policy, with evidence of the payment or premiums thereon. The parties
          hereto agree that the payment of said premiums may be financed, as
          long as same are made and kept current. Said policies shall also
          provide that the insurer will give Owner at least thirty (30) days
          prior written notice of cancellation of said policy.

     C.   Notwithstanding the limits of insurance specified in this Article,
          Tenant agrees to indemnify Owner, its agents, servants and employees
          against all damage, loss or liability resulting from any of the risks
          referred to in this Article. Such indemnification shall operate
          whether or not Tenant has placed and maintained the insurance
          specified in this Article and whether or not such proceeds from such
          insurance actually are collectible from one or more of the insurance
          companies; provided, however, that Tenant shall be relieved of its
          obligations of indemnity herein Pro Tanto of the amount actually
          recovered from one or more of the insurance companies by reason of
          injury or damage to, or loss sustained on the Premises.

     D.   Tenant shall pay all premiums and charges for all of said policies,
          and if Tenant shall fail to make any payment when due or carry any
          such policy, Owner may, but shall not be obligated to, make such
          payment or carry such policy, and the amount paid by Owner, with
          interest thereon, shall be repaid to Owner by Tenant on demand, and
          all such amounts so repayable, together with such interest, shall be
          considered as Additional Rent payable hereunder for the collection of
          which Owner shall have all of the remedies herein or by law provided
          for the collection of rent. Payment by Owner of any such premium or
          the carrying by Owner of any such policy, shall not be deemed to waive
          or release the default of Tenant with respect thereto.

          Tenant must provide evidence of coverages prior to taking occupancy of
          leased space.

                                       11
<PAGE>

     E.   Tenant acknowledges that Owner will not carry insurance of any kind on
          Tenant's furniture, furnishings, finishes, or wall coverings and/or
          fixtures, equipment, and improvements, and agrees that Owner shall not
          be obligated to repair any damage thereto or to replace the same.

     F.   Landlord will maintain same type of liability insurance for all public
          spaces in building and will indemnify and defend Tenant for events
          which occur in the buildings common space due to Landlord/Owner's
          negligence.

51.  Tenant's Conduct of Business
     ----------------------------

     Tenant covenants and agrees:

     A.   To do all things necessary to keep the Demised Premises clean, orderly
          and neat at all times, and to prevent odors, all at Tenant's sole cost
          and expense, and to conduct its business in a proper manner.

     B.   That Tenant shall conduct its operations in the Demised Premises in an
          orderly and proper manner so as not to annoy, disturb or be offensive
          to others.

     C.   That Tenant shall not, at any time, discharge into the plumbing,
          sewage or drainage system, any waste materials which will result in
          the creation of a blockage in said system or otherwise adversely
          affect the proper and clean maintenance and operation thereof.

     D.   That Tenant, at its sole cost and expense, shall provide regular
          exterminating and pest control services in the Demised Premises at
          regular intervals, in order to prevent the occurrence of any vermin in
          or about the Demised Premises.

52.  Adjustment of Rent for Increases in Real Estate Tax
     ---------------------------------------------------

     See Paragraph 83.

53.  Assignment and Sub-letting Provisions
     -------------------------------------

     Tenant may not assign this. Lease under any circumstances without the prior
     written consent of Owner, which consent may be withheld for any reason or
     for no reason whatsoever.

54.  Rent Arrears, Etc.: Supplementing Article 25 of the printed form of lease:
     -------------------

     A.   Owner, at Owner's option, shall have the right, when Tenant is in
          default in the payment of Fixed Rent or

                                       12
<PAGE>

     Additional Rent, to demand payment by certified, bank or teller's check, or
     by postal money order.

B.   In the event that any payment under this Lease shall be made in the form of
     a check from any person, firm or corporation other than the person, firm or
     corporation named in this Lease, the acceptance of same by Owner shall not,
     under any circumstances, be deemed recognition of a sub- letting or any
     assignment of this Lease, regardless of the number of times that such
     payment shall be made by such other person, firm or corporation.

C.   Late Charge. If Tenant shall fail to pay all or any part of any installment
     of Fixed Rent or Additional Rent for more than ten (10) days after the same
     shall have become due and payable (including the dishonor of a payment made
     by check, even if such check was tendered in a timely manner), Tenant shall
     pay as Additional Rent hereunder to Owner a late charge of six (6) cents
     for each dollar of the amount of such Fixed Rent or Additional Rent which
     shall not have been paid to Owner within said ten (10) day period, in
     addition to any other right or remedy available due to such late payment.

D.   In the event that any check paid by or for the benefit of Tenant to Owner
     is dishonored, Tenant shall pay Owner as Additional Rent hereunder a charge
     of One Hundred Dollars ($100.00) in addition to any other late charge or
     right or remedy available due to such dishonored payment.

55.  Additional Rent
     ---------------

     A.   All payments, other than Minimum Annual Rent required to be made by
          Tenant pursuant to this Lease (including, but not limited to,
          escalation charges, and any and all damages, interest, costs, fees and
          expenses caused by Tenant's default) shall be deemed additional rent
          and, in the event of any non--payment thereof, Owner shall have all
          rights and remedies provided for herein and by law for non--payment of
          Minimum Annual Rent in addition to whatever other remedies may be
          available to Owner.

     B.   Unless expressly provided otherwise in this Lease, the amount shown as
          due to Owner (or Owner's agent) in all bills, invoices and statements
          to Tenant shall be due and payable by Tenant upon receipt without
          further demand. Any delay or failure of Owner or its agent to prepare
          and deliver any bill, statement or invoice shall not constitute a
          waiver of the right to collect any payment which may have become due
          during the term of this Lease, including without limitation,
          retroactive payments for any and all amounts unbilled.

                                       13
<PAGE>

     C.   All payments of Minimum Annual Rent and additional rent pursuant to
          this Lease shall be made by Tenant with checks drawn upon a New York
          City bank. If Owner receives from Tenant any payment less than the
          full amount of the Minimum Annual Rent and additional rent then due
          and owing, Tenant hereby waives its right, if any, to designate the
          items to which such payment shall be applied and agrees that Owner, in
          its sole discretion, may apply such payment in whole or in part to any
          Minimum Annual Rent, any additional rent or to any combination thereof
          then due and payable hereunder.

     D.   The losing party in any action or proceeding between Owner and Tenant
          shall pay the reasonable attorneys' fees, costs and disbursements of
          the prevailing party for such action or proceeding upon the assignment
          thereof by the Court or on demand. If a default of Tenant causes Owner
          to prosecute or defend an action or proceeding with a third party,
          Tenant shall pay the reasonable attorneys' fees, costs and
          disbursements of Owner for such action or proceeding on demand. If
          Owner suffers, pays or incurs any damages, losses, fees or expenses
          (including without limitation, reasonable attorneys' fees and
          disbursements) due to a default, act, omission or request of Tenant,
          Tenant shall pay the total amount thereof to Owner on demand.

     E.   If all rent is not paid in full and actually received by Owner within
          fifteen (15) days after it is due and payable hereunder, Tenant shall
          pay Owner a late fee of 2% per month as additional rent. However, if
          the collection of such late fee at the rate specified herein would be
          usurious or otherwise unenforceable, interest on late payments shall
          accrue at the highest enforceable rate.

     F.   References in this Lease to "rent," "Rent," "rents," "Rents,"
          "rental," "Rental," "rentals" and "Rentals" shall mean and include
          Minimum Annual Rent and additional rent. The Minimum Annual Rent is
          the minimum rental due and payable without prior demand, offset or
          deduction. No decrease in any additional rent for any period shall
          yield an offset or deduction in any other rental or for any other
          period. References in this Lease to Tenant being "in default" and/or
          Tenant's "breach" or "default" shall mean and include each and every
          default, breach, misfeasance, nonfeasance, non- payment, or any other
          failure of Tenant to perform any of its obligations hereunder. If
          Owner gives notice of default and Tenant seeks declaratory relief and
          Tenant's time to cure is extended pending the outcome of such
          declaratory judgment action, Tenant shall be deemed to be "in default"
          under

                                       14
<PAGE>

          this Lease during the pendency of such action for the purposes of
          those rights that are exercisable by Tenant only if it is not "in
          default". All of Tenant's obligations to pay rent, to indemnify Owner
          and to obtain insurance shall survive the expiration of the term or
          sooner termination of this Lease.

     G.   Owner's managing agent, Et-Al Management Corp., may give notices,
          demands, invoices, statements and/or bills to Tenant in Owner's
          behalf; any such notice, statement, invoice, demand or bill shall be
          deemed to have been given by Owner.

     H.   The provisions of this Article shall supplement (not limit) other
          provisions of this Lease pertaining to the same matters as this
          Article and related matters.

56.  Owner's Right of Entry
     ----------------------

     A.   Tenant shall permit Owner to erect, use, maintain and repair pipes,
          cables, conduits, plumbing, vents and wiring in, to and through the
          Demised Premises, as and to the extent that Owner may now or hereafter
          deem to be necessary or appropriate for the proper operation and
          maintenance of the building of which the Demised Premises are a part.
          All such work shall be done, so far as practicable, in such manner as
          to avoid interference with Tenant's use of the Demised Premises, and
          as expeditiously as possible. The liability of Owner, if any, under
          this Article shall be limited to the prompt repair, at the sole cost
          and expense of Owner, of any damage caused to the Demised Premises by
          the Owner in the course of doing work under this paragraph.

     B.   Upon providing forty-eight (48) hours advance written notice, Owner,
          or its agents or assignees, shall have the right to enter the Demised
          Premises during business hours for the purpose of making such repairs
          or alterations as Owner shall be required or shall have the right to
          make by the provision of this Lease. Owner shall attempt to do all
          such work at a time, and in a manner, that will not unreasonably
          inconvenience Tenant, significantly diminish Tenant's floor area or
          significantly disrupt Tenant's architectural layout. Owner shall be
          allowed to take all material into and upon the Demised Premises that
          may be required for repairs or alterations, without constituting an
          eviction of Tenant, in whole or in part, so long as any repair work by
          Owner is diligently prosecuted to completion. Owner shall also have
          the right, without prior written notice, to enter the Demised Premises
          at such other times as such entry may be required by circumstances of
          emergency affecting the

                                       15
<PAGE>

          Demised Premises or the building containing the same. In addition,
          Owner, or its agents or assignees, shall have the right to enter the
          Demised Premises upon Providing twenty-four (24) hours prior written
          notice during business hours for the purpose of inspecting the general
          condition and State of repair of the Premises and the showing of the
          Premises to any prospective purchaser or mortgagee, such entry and
          inspection to be conducted in a manner calculated to not unreasonably
          interfere with the operation of Tenant's business or its customers.

     C.   The rights granted to Owner by the terms of this Article shall be
          deemed supplementary to the provisions set forth in Article 13 of the
          printed portion of this Lease.

57.  Suspension of Services
     ----------------------

     Anything in this Lease to the contrary notwithstanding, Owner reserves the
     right to suspend the service of any utilities, when necessary by reason of
     accident or of repairs, alterations or improvements necessary to be made in
     the Demised Premises or the building of which it is a part, until such
     repairs, alterations or improvements shall have been completed, and Owner
     shall have no responsibility or liability for such suspension of services,
     provided Owner proceeds with diligence and continuity to complete such
     repairs, alterations or improvements and uses its best efforts to restore
     such services as soon as practicable. The foregoing shall not be deemed to
     impose upon Owner any obligations for the furnishing of any service,
     maintenance or repair other than is specifically set forth in this Lease.
     Owner will provide 72 hours advance notice of any planned service
     suspension which is for regular maintenance purposes. No notice shall be
     required for emergency suspension of service resulting from an accident or
     other unanticipated event.

58.  Condemnation
     ------------

     A.   If the whole of the Demised Premises shall be taken under the power of
          eminent domain of any public or private authority, then this Lease and
          the term thereof shall cease and terminate, as of the date of such
          taking and any unearned rent or other charges, if any, paid in
          advance, shall be refunded to Tenant.

     B.   In the event that only a portion of the Demised Premises shall be
          taken under the power of eminent domain by any public or private
          authority, then this Lease and the term thereof shall continue in full
          force and effect, at option of either the Owner or the Tenant,
          provided, however, that Owner shall, at its expense forthwith restore
          what may remain of the Demised Premises to

                                       16
<PAGE>

          substantially the same condition as prior to the condemnation. There
          shall be a pro rata abatement of basic rent hereunder to the extent
          that the amount of floor space so taken compares to the amount of
          floor space prior to such condemnation, to compensate Tenant for its
          loss of use of such portion of the Demised Premises. The minimum rent
          reserved herein, and any other charges payable to Tenant hereunder,
          shall be suspended (provided Tenant is not then using the Demised
          Premises) for the period from the date of the taking until the
          remainder of the Demised Premises shall have been restored as
          aforesaid.

     C.   Tenant shall not be entitled to any award for the loss of or loss in
          value of the leasehold, but only to an award for loss of or damage to
          its fixtures and/or equipment and to moving expenses, all to the
          extent allowed and solely in the event that such allowance does not,
          in any way, diminish the award to Owner. The respective damages to
          which Owner and Tenant are entitled by reason of any such taking shall
          be fixed and paid, respectively, to Owner and Tenant, as their
          interests appear, and in no event shall there be a merger of interest.

     D.   Within fifteen (15) days after Owner receives written notice of any
          such taking or intention to take under power of eminent domain, Owner
          shall forward a copy thereof to Tenant.

59.  Damage or Destruction
     ---------------------

     A.   If the Demised Premises shall be partially damaged by fire or other
          casualty, the damaged portions of the Demised Premises (but not
          Tenant's trade fixtures or personal property) shall be repaired by and
          at the expense of Owner (unless such fire or casualty resulted, in
          whole or in part, from any act or omission, whether negligent or
          otherwise, of Tenant or his agents, servants, contractors, employees,
          invitees, or assigns, in which case such repairs shall be at the cost
          and expense of Tenant), and the rent until such repairs shall be made
          shall be apportioned according to the part of the Demised Premises
          which is usable by Tenant. If Tenant shall have paid rent in advance,
          Owner shall repay to Tenant an amount equal to that portion of rent so
          paid in advance, payment of which is abated.

     B.   If the Demised Premises are totally damaged or are rendered wholly
          untenantable by fire or other casualty, Owner shall, within sixty (60)
          days after such fire or other casualty, give Tenant written notice of
          Owner's election whether:

                                       17
<PAGE>

     1)   To terminate this Lease and thereupon the term of this Lease shall
          expire by lapse of time upon the third (3rd) day after such notice is
          given, and Tenant shall vacate the Demised Premises and surrender the
          same to Owner. If Tenant shall not be in default under this Lease, or
          if any monetary default existing at the time of the giving of such a
          notice is cured in full within three (3) days after delivery of said
          notice, then upon the termination of this Lease under the conditions
          provided for in the sentence immediately preceding, Tenant's liability
          for rent accruing subsequent to the fire or casualty shall cease and
          be apportioned as of the day following such fire or casualty, or

     2)   To restore or rebuild the Demised Premises in character, layout, area
          and equipment (but not Tenant's trade fixtures or personal property)
          substantially equal to the premises damaged or destroyed immediately
          prior to such damage or destruction, and it is agreed that in such
          event, this Lease shall continue in full force and effect, but the
          rent, the additional rent, and all other payments and obligations of
          Tenant shall abate as of the date of such fire or other casualty,
          until the Demised Premises shall have been fully and completely
          restored or rebuilt by Owner and possession thereof shall have been
          delivered to Tenant.

          Should Owner elect to send Tenant written notice under subparagraph
          (1) of this Article 56B, and thereafter, within one (1) year of the
          giving of such notice, act nevertheless to restore or rebuild the
          Demised Premises in character, layout, area and equipment (but not
          Tenant's trade fixtures or personal property) substantially equal to
          the premises damaged or destroyed immediately prior to such damage or
          destruction, then and in such event, Owner agrees to give Tenant a
          thirty (30) day unilateral option to be exercised by Tenant in the
          method and manner otherwise set forth in this Lease, to resume
          occupancy for the remaining balance of the original lease term under
          all of the other terms and conditions set forth in this Lease.

C.   Owner shall not be liable for reasonable delay under the foregoing
     subparagraphs A or B if such delay arises by reason of adjustment of
     insurance on the part of Owner and/or Tenant or the reasonable delay on
     account of any

                                       18
<PAGE>

          cause beyond the control of Owner or contractors employed by Owner,
          including, but not limited to strikes, labor disputes and shortages of
          material.

     D.   Tenant hereby expressly waives the provisions of Section 227 of the
          Real Property Law and of any law now in force or hereafter enacted
          which, in substance, provides for termination of a lease of real
          property by reason of destruction or untenantability of the Premises
          demised thereunder caused by fire or other casualty and agrees that
          the provisions of this Article 57 shall govern and control in lieu of
          any such provisions of law.

60.  Signs
     -----

     A.   Tenant shall not, without Owner's prior written consent, place or
          install any sign on the exterior of the Demised Premises, or the
          building of which it is a part, or on the inner or outer faces of the
          windows or doors of the Demised Premises. Tenant shall be permitted to
          install and maintain, at its own cost and expense, an exterior sign,
          provided the same receives the prior approval of Owner as to
          dimensions, shape, design, size, color, wording, material of
          composition and location. Tenant agrees that any exterior sign
          approved by Owner shall not be installed until all approvals and
          permits are first obtained by Tenant from governmental agencies having
          jurisdiction thereover and that all fees payable in connection with
          such installation, maintenance and permits shall be paid by Tenant.

     B.   Tenant shall not place in the windows or in any display or other area
          visible to public view from the outside of the Demised Premises any
          flashing, blinking or animated sign or one which otherwise has
          variations in the intensity of illumination without first obtaining
          Owner's prior written approval.

     C.   Tenant shall not, after having obtained the approval of Owner, change
          or alter any sign in any respect whatsoever, including but not limited
          to size, material of composition or location, without first obtaining
          the prior written approval of Owner, except that Tenant may change the
          phraseology in a sign previously approved by Owner without additional
          approval.

     D.   In the event that Owner shall deem it necessary to remove any sign of
          Tenant in order to make any repairs, alterations or improvements in,
          to or upon the Demised Premises, or the building of which it is a
          part, Owner

                                       19
<PAGE>

         shall have the right to do so, provided the same be removed and
         replaced at Owner's expense, promptly upon completion of such repair,
         alteration or improvements.

61.  Replacement of Plate Glass
     --------------------------

     Tenant Shall, at its own cost and expense, replace any and all plate or
     other glass damaged or broken from any cause whatsoever in and about the
     Demised Premises. Tenant shall, at its own cost and expense, either insure
     and keep insured all such glass in stock companies authorized to do
     business in the State of New York, naming the Owner as a party insured
     thereunder, or may act as a self-insurer for plate glass.

62.  Holdover by Tenant
     ------------------

     Tenant will have no right to remain in possession of all or any part of the
     Demised Premises after the expiration of the term. If Tenant remains in
     possession of all or any part of the Demised Premises after the end of said
     term, with the express or implied consent of Owner: (a) such tenancy will
     be deemed to be a periodic tenancy from month-to-month only; (b) such
     tenancy will not constitute a renewal or extension of this Lease for any
     further term; and (c) such tenancy may be terminated by Owner upon the
     earlier of thirty (30) days prior written notice or the earliest date
     permitted by law. In such event, monthly rent (the reasonable value of use
     and occupancy) will be increased to an amount equal to one-half (1/2) of
     the sum of the Minimum Annual Rent plus all additional rentals payable
     during the last year of the term, and any other sums due for additional
     rent under this Lease will be payable in the amount and at the times
     specified in this Lease. Such month-to-month tenancy will be subject to
     every other term, condition and covenant contained in this Lease. Neither
     the billing nor the collection of use and occupancy in the above amount
     shall be deemed a waiver of any right of Owner to collect damages for
     Tenant's failure to vacate the Demised Premises after the expiration or
     sooner termination of this Lease. The provisions of this Article shall
     survive the expiration or sooner termination of this Lease. In the event a
     renewal lease is executed by all parties within ninety (90) days of the
     expiration date and all rent has been paid timely, the rent will be
     adjusted retroactively to the renewal rate.

63.  Broker
     ------

     Tenant and Owner covenant, warrant and represent to each other that neither
     has had any dealings with any real estate broker, agent or finder in
     consummating the Lease other than Sholom & Zuckerbrot Realty Corp./Alan
     Levy and that no conversation or prior negotiations were had with any
     individual or entity

                                       20

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