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Title:

Lease

Entities:

Power 3 Medical Products, Inc.

Date:

2000

Size:

Preview shows 8KB of 53KB total

Price:

$42

ID:

#325694

 

 

► Leasing ► Lease Agreements
► Biotech & Drugs ► Surgical & Medical Instruments & Apparatus

 

 

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EXHIBIT 10.56

L E A S E

THIS LEASE, made and entered into on this 13th day of October, 2000 by and
between EXECUTIVE INVESTMENT ASSOCIATES, a Florida General Partnership d/b/a
EXECUTIVE CENTER, hereinafter called Lessor, and Surgical Safety Products, Inc.,
a New York Corporation, hereinafter called Lessee;

W I T N E S S E T H :

That for and in consideration of the mutual covenants hereinafter
contained and the sums of money paid and hereinafter agreed to be paid by Lessee
to Lessor and for other valuable considerations, Lessor does hereby demise and
lease unto Lessee and Lessee does hereby hire and let from Lessor the following
described property situate in Sarasota County, Florida:

Suite No. 300, Executive Center, 3665 Bee Ridge Road, the relative
size and location of the premises being more particularly described in
Exhibit "A" hereto attached (hereafter called "Premises" or "demised
premises"). For purposes of this lease the rentable square footage
area of the Premises shall be deemed to be 2,537 square feet.

1. TERM AND RENT. The term of this lease shall be for a period of six
(6) months and seventeen (17) days, commencing on October 15, 2000 (hereinafter
called "Commencement Date") and expiring on April 30, 2001. Lessee agrees to pay
Lessor, without demand, set-off or deduction, rent for the term as set forth in
Exhibit "B" attached hereto and made a part hereof. Each monthly installment of
rent, as referred to in Exhibit "B", shall be payable in advance to Lessor on
the first (1st) day of each calendar month of the term. If the Commencement
Date, as hereinabove defined, is not on the first (1st) day of a calendar month,
rent for the period between Commencement Date and the first day of the following
month shall be prorated, on a per diem basis, at the monthly rental rate
hereinabove provided. In addition to the rent herein reserved, Lessee shall also
pay as additional rent, the amount of any use or sales tax on said rental
imposed by the State of Florida and any federal or local government, which taxes
and other assessments shall be paid at the same time and in the same manner as
each payment of rent.

2. SECURITY DEPOSIT. Lessee has deposited with Lessor, and Lessor
hereby acknowledges receipt of $3,700.00, the sum of which shall be held by
Lessor, without accrual of interest, as security for the faithful performance by
Lessee of all of the terms of this Lease. Said deposit shall not be mortgaged,
assigned, transferred or encumbered by Lessee without the express prior written
consent of Lessor and any such act on the part of the Lessee shall be without
force and effect and shall not be binding upon Lessor. If any of the rents
herein reserved or any other sum payable by Lessee to Lessor hereunder shall be
overdue or unpaid, or should Lessor make payments on behalf of Lessee, or if
Lessee shall fail to perform any of the terms of this Lease, then Lessor, at its
option and without prejudice to any other remedy which Lessor may have on
account thereof, may appropriate and apply said entire deposit, or so much
thereof as may be necessary to



{PAGE}



compensate Lessor, toward the payment of any rent or additional sum due
hereunder or to any loss or damage sustained by Lessor due to such breach on the
part of Lessee; and Lessee shall forthwith upon demand restore said security
deposit to the original sum deposited. Should Lessee comply with all of the
terms and promptly pay all of the rentals and all other sums payable by Lessee
to Lessor as they become due, said deposit shall be returned in full to Lessee
at the end of the term. In the event of Bankruptcy or other creditor debt
proceedings against Lessee, the security deposit shall be deemed to be first
applied to the payment of rent and other charges due Lessor for all periods
prior to the filing of such proceedings. This deposit may be commingled with
other funds of Lessor.

Lessor may deliver the security and any other deposit made hereunder
by Lessee to the purchaser of Lessor's interest in the Executive Center Office
Building in the event that such interest be sold or otherwise conveyed, and
thereupon Lessor shall be discharged from any further liability with respect to
such deposit; and this provision shall also apply to any subsequent transferee
of Lessor.

3. QUIET ENJOYMENT. Provided Lessee shall pay all rents as herein
agreed and keep and perform all of the terms, covenants and conditions hereof,
Lessee shall peaceably possess and quietly enjoy the demised premises without
hindrance or interruption subject only to the terms hereof, reservations,
restrictions and easements of record and applicable zoning and other
governmental regulations.

4. PREMISES. Lessor shall at Lessor's expense deliver the space with
leasehold improvements "as existing" and as per the attached drawing which shall
include the demising walls, ceiling, lighting, air conditioning, walls,
restrooms, electrical outlets, paint and carpet, all of which shall be building
standard material and finishes. The Lessor at his expense shall have the walls
and woodwork painted in an off white color with a slight blue tint. The Lessor
shall also have the carpets cleaned and make sure that all lights and outlets
are in proper working condition, including the replacement of any ceiling tiles
that need to be replaced. Any upgrade of the office space above building
standard as "it exist" shall be at the sole expense of the Lessee. Lessee shall
be responsible for installation of additional leasehold improvements, including
interior partitions and any nonstandard electrical or plumbing equipment. A
layout of all interior improvements must be submitted to Lessor for approval
before installation.

Exterior glass used in construction of the Executive Center, forming
the exterior walls, is guardian reflective glass one-quarter inch in thickness,
S-Series, silver color, Code SS-8 and special care shall be taken by the Lessee
so as not to scratch the film on the inside of the glass.

5. USE OF PREMISE. The demised premises shall be used solely for
office use as and no other use shall be made thereof without the prior express
written consent of Lessor. Lessee shall make no immoral, offensive or illegal
use of the demised premises or do anything thereon deemed extra hazardous or
which would cause insurance rates to increase. Lessee shall abide by all
reasonable directions and requirements of any insurance company insuring the
premises and shall keep and abide by all laws, ordinances, rules and regulations
of all governmental bodies and their respective regulatory agencies having any

 

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