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Lease Agreement

 

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Title:

Lease Agreement

Entities:

On Site Sourcing Inc

Date:

2001

Size:

Preview shows 3KB of 60KB total

Price:

$49

ID:

#1298913

 

 

► Leasing ► Lease Agreements

 

 

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                                 LEASE AGREEMENT


THIS LEASE is made as of the 27 day of April, 2000, between 18630
LAYTONSVILLE PARTNERSHIP, a Maryland partnership (hereinafter "Landlord"), and
ON-SITE SOURCING, INC. (hereinafter "Tenant").

1. DEMISE OF PREMISES: In consideration of the rent hereinafter described
and the covenants hereinafter contained, Landlord does hereby let and demise
unto Tenant the premises, together with improvements thereon, the property known
as 18630 Woodfield Road, Gaithersburg, Maryland, 20879, and more particularly
described as follows: the front portion of that free standing warehouse building
consisting of approximately Eighteen Thousand (18,000) square feet (comprised of
13,000 square feet of warehouse space and 5,000 square feet of office space) as
outlined on the attached Exhibit "A" (the "Leased Premises") for a term of five
(5) years, commencing April 1, 2000 (the "Commencement Date") and expiring March
31, 2005.

If this term shall commence on a day other than the first day of a
calendar month, rent shall be paid in advance at the rate hereinafter specified
for the remaining portion of the month in which the term commenced. The Tenant
will also pay, at the expiration or other termination of this Lease, a
proportionate part of said rent for the part, if any, of a month then expired.
If Landlord shall be unable to give possession of the Leased Premises on the
date of the commencement of the term hereof because of repairs or improvements
of the Leased Premises, or of the building of which the Leased Premises form a
part, are not completed, or for any other reason, Landlord shall not be subject
to any liability for the failure to give possession on said date. Under such
circumstances, the rent covenanted to be paid therein shall not commence until
the possession of Leased Premises is tendered by Landlord with certification to
Tenant that same are ready for occupancy. Should tender of possession of the
Leased Premises be later or earlier than the beginning date named above, then in
that event, the beginning and ending dates of this Lease shall be adjusted, by
letter from Landlord to Tenant, to conform to date of such tender of possession
just as if the same had been originally named as the beginning date, and this
Lease shall run for its full term from the date of such tender of possession,
provided that no such failure to give possession on the date of commencement of
the term shall in any other respect affect the validity of this Lease
[ILLEGIBLE] the obligations of Tenant hereunder.

2. MINIMUM RENT AND ESCALATIONS: The Tenant hereby covenants and agrees to
pay or cause to be paid as Annual Rent to the Landlord during the initial year
of the term hereof, the sum of One Hundred Fifty-Three Thousand Dollars
($153,000.00), payable in advance in consecutive monthly installments of Twelve
Thousand Seven Hundred Fifty Dollars ($12,750.00) (the "Minimum Rent"). The rent
shall be payable to and at the office of [ILLEGIBLE] 630 Laytonsville
Partnership, 10901 Outpost Drive, Gaithersburg, Maryland, 20878, or at such
other place or to such other person, firm or corporation as the Landlord may

 

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