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Title: |
Industrial Space Lease |
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Date: |
2004 |
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Preview shows 11KB of 86KB total |
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$61 |
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#366660 |
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INDUSTRIAL SPACE LEASE
THE CORPORATE GROVE
BUFFALO GROVE, ILLINOIS
LANDLORD: CGA INVESTMENT COMPANY L.L.C
TENANT: INFINET SOLUTIONS, INC., AN ILLINOIS CORPORATION
LEASED PREMISES: 1425 BUSCH PARKWAY
BUFFALO GROVE, ILLINOIS
LEASE PREPARED BY: John H. Mays
Gould & Ratner
222 N. LaSalle Street
Chicago, Illinois 60601
{PAGE}
TABLE OF CONTENTS
1. GRANT, TERM, DEFINITIONS AND BASIC LEASE PROVISIONS .....................1
2. POSSESSION ..............................................................2
2. PURPOSE..................................................................2
3. RENT.....................................................................4
5. IMPOSITIONS..............................................................4
.
6. INSURANCE................................................................6
7. DAMAGE OR DESTRUCTION....................................................8
8. CONDEMNATION.............................................................8
9. MAINTENANCE AND ALTERATIONS..............................................9
10. LIENS AND ENCUMBRANCES..................................................11
11. ASSIGNMENT AND SUBLETTING...............................................12
12. UTILITIES...............................................................13
13. INDEMNITY AND WAIVER....................................................13
14. RIGHTS RESERVED TO LANDLORD.............................................14
15. QUIET ENJOYMENT.........................................................15
16. SUBORDINATION OR SUPERIORITY............................................15
17. SURRENDER...............................................................15
18. REMEDIES................................................................16
19. SECURITY DEPOSIT........................................................19
20. MISCELLANEOUS...........................................................20
21. OPTION TO EXTEND........................................................24
22. LIMITATION OF LABILITY..................................................24
{PAGE}
THIS LEASE is made this 26th day of March 2002, by and between CGA
INVESTMENT COMPANY L.L.C. (hereinafter sometimes referred to as "Landlord"), and
INFINET SOLUTIONS, INC., an Illinois corporation (hereinafter sometimes referred
to as "Tenant") covenant and agree as follows:
1. GRANT, TERM, DEFINITIONS AND BASIC LEASE PROVISIONS
1. GRANT. Landlord, for and in consideration of the rents herein
reserved and of the covenants and agreements herein contained on the part of the
Tenant to be performed, hereby leases to Tenant, and Tenant hereby lets from
Landlord, premises known as 1425 Busch Parkway, Buffalo Grove, Illinois,
consisting of approximately 12,594 square feet, being a part of the real estate
commonly known as 1405-1495 Busch Parkway, The Corporate Grove, Buffalo Grove,
Illinois, (hereinafter sometimes referred to as the "Real Estate"), together
with all improvements now located or to be located on said premises during the
term of this Lease, together with all appurtenances belonging to or in any way
pertaining to the said premises (such premises, improvements and appurtenances
hereinafter sometimes jointly or severally, as the context requires, referred to
as "Leased Premises").
1.1 TERM. The term of this Lease shall commence on May 1, 2002
(hereinafter sometimes referred to as "Commencement Date") and shall end on
April 30, 2003, unless sooner terminated as herein set forth.
1.2 TENANT'S PRO RATA SHARE. As used in this Lease, the term "Tenant's
Pro Rata Share" shall be Fourteen and 25/100 percent (14.25%).
1.3 AGENT. As used in this Lease, the term "Agent" shall mean the agent
of Landlord (but if Landlord is an Illinois land trust, the term "Agent" shall
mean the agent of the beneficiary or beneficiaries of Landlord). Until otherwise
designated by notice in writing from Landlord, Agent shall be Van Vlissingen and
Co. Tenant may rely upon any consent or approval given in writing by Agent or
upon notice from Agent or from the attorneys for Agent or Landlord.
1.4 BASIC LEASE PREVISIONS.
(a) Purpose (See Section 3.0): Office, sales and development of
ecommerce software.
(b) Rent (See Section 4.0):
Monthly
Period Annual Rent Installments
------ ----------- ------------
05/01/02- $98,485.08 $8,207.09
04/30/03
{PAGE}
(c) Payee (See Section 4.0): CGA Investment Company L.L.C.
(d) Payee's Address (See Section 4.0) One OverIook Point,
Lincolnshire Corporate Center, Lincolnshire, Illinois 60069.
(e) Base Impositions (See Section 5.0): $ -0-
(f) Form of Insurance (See Section 6.1): Tile insurance specified in
subsections 6.0(a) and 6.0(c) of this Lease shall insure
Landlord, Landlord's beneficiaries and respective agents
(including Agent), in addition to Tenant
(g) Base Insurance Premium (See Section 6.3): $-0-
(h) Monitoring Service Charge (See Section 6.4): _X_ YES ___NO
(i) Water and Sewerage Charge (See Section 12.0): _X_YES __ NO
(j) Security Deposit (See Section 19.0): $10,411.04
(k) Tenant's Address (for notices) (See Section 20.4): Mr. Harvey
Gannon Infinit Solutions, Inc., 1425 Busch Parkway, Buffalo
Grove, Illinois 60089
(l) Landlord's Address (for notices) (See Section 20.4): c/o Van
Vlissingen and Co., One Overlook Point, Suite 100, Lincolnshire
Corporate Center, Lincolnshire, Illinois 60069.
(m) Brokers (See section 20.12): Van Vlissingen and Co
(n) Number of Parking Spaces (see Section 20.16): 40 unreserved
(o) Guarantor's Name and Address (See Separate Guaranty): None
2. POSSESSION
2.0 POSSESSION. Tenant is currently in possession of the Leased Premises
under a Sublease with Communicate Direct, Inc. Except as provided in this
Article 2, Tenant is accepting the Leased Premises in its current condition and
"AS IS." Landlord agrees to partition the opening between the 1405 Busch Parkway
unit and the Leased Premises within thirty (30) days of Commencement Date.
3. PURPOSE
3.0 PURPOSE. The Leased Premises shall be used and occupied only for the
purpose set forth in Section 1.4(a).
2
{PAGE}
3.1 USES PROHIBITED. Tenant will not permit the Leased Premises to be
used in any manner which would render the insurance thereon void or the
insurance risk more hazardous. Tenant shall not use or occupy the Leased
Premises, or permit the Leased Premises to be used or occupied, contrary to any
statute, role, order, ordinance, requirement or regulation applicable thereto;
or in any manner which would violate any certificate of occupancy affecting the
same or the Declarations of Protective Covenants; or which would cause
structural injury to the improvements; or cause the value or usefulness of the
Leased Premises, or any part thereof, to diminish; or which would constitute a
public or private nuisance or waste.
3.2 PROHIBITION OF USE. If the use of the Leased Premises should at any
time during the Lease term be prohibited by law or ordinance or other
governmental regulation, or prevented by injunction, this Lease shall not be
thereby terminated, nor shall Tenant be entitled by reason thereof to surrender
the Leased Premises or to any abatement or reduction in rent, nor shall the
respective obligations of the parties hereto be otherwise affected.
3.3 ENVIRONMENTAL MATTERS. In the event Tenant shall conduct or
authorize the generation, transportation, storage, treatment, or disposal at the
Leased Premises of any substance regulated under the Resource Conservation and
Recovery Act, the Comprehensive Environmental Response, Compensation and
Liability Act of 1980, as amended, the Superfund Amendments and Reauthorization
Act of 1986, the Federal Water Pollution Control Act and all other federal,
state, and local laws relating to pollution or protection of the environment,
including, without limitation, laws relating to emissions, discharges, releases,
or threatened releases of industrial, toxic, or hazardous substances or wastes
of other pollutants, contaminants, petroleum products or chemicals (collectively
"Hazardous Substances") into the environment (including, without limitation,
ambient air, surface water, ground water, land surface, or subsurface strata) or
otherwise relating to the manufacture, processing, distribution, use, treatment,
storage, disposal, transport or handling of Hazardous Substances (the
"Environmental Laws"):
(a) Tenant shall, at its own cost, comply with all Environmental Laws.
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