Home

Intelligence

Services

Subscriptions

News

About Us

Sign In

 

Document Preview

Sublease Agreement

 

Click "Add to Cart" button to purchase document. 
Documents are emailed immediately after purchase. 
You can also browse documents by
title, category, or company... or click here for help finding documents.

 

Title:

Sublease Agreement

Entities:

ENGlobal Corp.

Date:

2003

Size:

79KB total

Price:

$51

ID:

#588823

 

 

► Leasing ► Sublease Agreements
► Energy ► Oil Well Services & Equipment

 

 

Start of Preview


 

SUBLEASE AGREEMENT

 

AGREEMENT, made this 28th day of February, between FamilyConnect. Inc., a              (hereinafter referred to as Sublessor) and IDS Engineering, Inc. dba ENGlobal Engineering. Inc. (hereinafter referred to as Sublessee).

 

WITNESSETH

 

WHEREAS, pursuant to Lease dated July 5, 2000 between Oral Roberts University, as Landlord, and FamilyConnect.lnc., as Tenant, a copy of which Lease is attached hereto as Exhibit B (hereinafter referred to as the Lease), covering a portion of the CityPlex Towers Building (hereinafter referred to as the Leasehold); and

 

WHEREAS, Sublessee desires to sublease from Sublessor and Sublessor desires to sublease unto Sublessee the portion of the Leasehold indicated in red on Exhibit B containing approximately 11,250 square feet (hereinafter referred to as the Premises); and

 

NOW, THEREFORE, in consideration of the Premises and the mutual undertakings, covenants, promises and agreements of the parties, IT IS AGREED AS FOLLOWS:

 

1. Providing all of the terms and conditions contained within this Agreement are fulfilled, Sublessor shall sublease unto Sublessee and Sublessee shall accept the sublease of the Premises from the date hereof through August 1, 2005, subject to the rents, terms, covenants, conditions and provisions set forth in the Lease.

 

2. The Occupancy and Commencement date is August     , 2003 and is conditioned upon the completion of all of the following:

 

a) This Agreement is executed by the Sublessor and Sublessee; and

 

b) The Landlord has approved the Sublease, in writing.

 

3. This Agreement shall automatically terminate on August 1, 2005 or such earlier date as provided herein.

 

4) Possession of space shall be allowed to begin July 1, 2003.

 

5) Sublessee represents and warrants that it has read the Lease and agrees that:

 

a) The terms, covenants, promises and conditions of the Lease are incorporated herein;

 

b) Sublessee shall comply with and be bound by all of the terms, covenants, promises and conditions of the Lease; and

 

c) Sublessee shall comply (without delay) with all reasonable requirements of the Landlords consent to this Sublease.


5. Sublessor shall duly observe and perform those obligations imposed upon the Tenant under the lease to the extent that such obligations are not provided in this Sublease to be observed or performed by Sublessee, except with respect to any failure in such observance or performance which results from any default by Sublessee.

 

6. Sublessor warrants and represents to Sublessee that on the Commencement Date:

 

a) The Lease is valid and existing, there are no existing defaults on the part of the Landlord or the Tenant with respect thereto, and the Landlord does not hold any claim against the Tenant; and

 

b) There are and will be no contracts for services or otherwise on account of maintenance or repairs which expressly or impliedly are or will be binding upon Sublessee or upon the Premises.

 

7. In consideration for this Sublease, Sublessee shall pay Sublessor an annual rental for the Premises of One Hundred Four Thousand Sixty Four Dollars ($ 104,064.00) to be paid in equal monthly payments in advance on the first day of each and every month of Eight Thousand Six Hundred Seventy Two Dollars ($ 8,672.00 ). Simultaneously with the execution of this Sublease, Sublessee shall pay a security deposit equal to one months rent and the first months rent in advance. Commencing N/A. the annual rent shall be increased or decreased by one-third of any adjustments to Sublessors rent paid to Landlord.

 

8. Sublessee shall pay Sublessor $8,672.00 (equivalent to one months lease rate) for the cubicles listed in Exhibit A.

 

9. Any notices shall be in writing and shall be sent by registered or certified mail, return receipt requested, addressed to the parties at the addresses indicated on page one hereof, or such other address as such party has been advised of in writing.

 

10. This Agreement contains the entire agreement and understanding between the parties hereto with respect to the Premises, and there are no other terms, covenants, obligations, or representations, oral or written, of any kind whatsoever.

 

11. This Agreement shall be binding upon, and shall inure to the benefit of, the parties hereto, their respective heirs, executors, administrators, successors and assigns and may not be revoked or amended, except by instrument, in writing, subscribed by the party sought to be charged therewith.

 

12. SPECIAL CONDITIONS. Existing furniture and cubicles per the Addendum attached as Exhibit A shall be a part of this Sublease.

 

13. For value received and in consideration for, and as an inducement to, Sublessor making this Sublease, IDS Engineering, Inc. dba ENGlobal Engineering, Inc. guarantees to Sublessor and Sublessor successors and assigns, the full performance and observance of all the covenants, conditions and agreements herein provided to be performed by Sublessee, without requiring any notice of non-payment, non-performance, or non-observance, or proof, or notice or demand, all of which the guarantor waives and expressly agrees that the validity of this guaranty


and the obligations of the guarantor hereunder shall in nowise be terminated, affected, or impaired by reason of the assertion by Sublessor against Sublessee or any or the rights or remedies reserved to Sublessor under the Sublease.

 

14. This Agreement shall be interpreted and governed by the laws of the State of Oklahoma.

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date, month and year first above written.

 

SUBLESSOR

FAMILYCONNECT, INC.

 

SUBLESSEE

IDS ENGINEERING, INC. DBA

ENGLOBAL ENGINEERING, INC.

By: Kirk Murdoch   By: William A. Coskey

Name: Kirk Murdoch

Title: President & CFO

 

Name: William A. Coskey

Title: President

 

CONSENT OF LANDLORD

 

Landlord consents to the Sublease of Sublessors premises on the 33rd floor of the                     subject to the lease to Sublessee on the express conditions that (1) Sublessor shall remain fully and completely liable for all of the obligations under the lease, (2) this consent will not be deemed to be a consent to any subsequent assignment or sublease and that no further assignment or subletting of all or any portion of the premises subject to the lease will be made without the prior written consent of the Lessor, (3) if the lease is terminated or surrendered, in addition to all other rights and remedies of Lessor, the Sublease shall be automatically and simultaneously terminated, (4) no modification or amendment of the Sublease will be made without the prior written consent of Lessor, and (5) if any conflict between the lease and the Sublease exists, the lease shall control.

 

WITNESS:

 

/s/ ILLEGIBLE

 

MWW IdcO20603-2

 

LANDLORD

ORAL ROBERTS UNIVERSITY

 

By: /s/ ILLEGIBLE

Title: Vice President

Date: 3/10/03


EXHIBIT A

 

ADDENDUM

 

Cube Inventory

 

12-17-02

 

NOTE: The following is an inventory of the cubes. I counted each individual cube on the floor and estimated what was in storage. The various parts, connectors, screws and power outlets was not inventoried, however I believe we have enough parts to connect everything together properly. Most of the cubes are already setup and functional.

 

Item


   Length

  Depth

  Quantity

Desktop

   5'      2'4"   29

Desktop

   5'2"   2'      4

Desktop

   5'      2'      7
     Height

  Length

 

Panel

   4'4"   2'4"   56

Panel

   4'4"   5'      29

Panel

   3'4"   2'      4

Panel

   4'4"   2'      7

Panel

   3'4"   5'      7
     Height

  Dimensions

 

Posts

   4'4"   2" x 2"   36

Posts

   3'4"   2" x 2"   5

 

Power Poles

   7

File Cabinets

   43

Desk Drawer

   25

Chairs

   25

Keyboard Pullouts

   8

 

MWW IdcO20603-2


THIS LEASE AGREEMENT (the Lease) is made and entered into on this the 5th day of July, 2000, between Oral Roberts University, an Oklahoma corporation (Landlord) and FamilyConnect, Inc., an Oklahoma corporation (Tenant).

 

WITNESSETH:

 

Definitions.

 

(a) Project shall mean the real property described in Exhibit A attached hereto and made a part hereof and the improvements constructed thereon.

 

(b) Building shall mean the CityPlex Towers Building, located on the real property described in Exhibit A attached hereto and made a part hereof which has a street address of 2448 E. 81st Street, Suite 3300, Tulsa, Oklahoma 74137.

 

(c) Premises shall mean the suite of offices outlined on the floor plan attached to this Lease as Exhibit 0 attached hereto and made a part hereof. The Premises are stipulated for all purposes to contain approximately 11,250 square feet of Net Rentable Area (as hereafter defined) provided, however, that Landlord may, at any time during the term of this Lease, cause precise measurements of the Building (including Common Areas and Service Areas, as hereafter defined) and the Premises to be made, and the Net Rentable Area of the Building and of the Premises, as well as the Base Rental (as hereafter defined) shall be adjusted upward or downward accordingly, effective as of the Commencement Date. The Premises are located In the Building.

 

(d) Base Rental shall mean the sum of $126,562.50 per annum as adjusted under Paragraph 29 hereof. The Base Rental due for the first month of the Lease Term (as hereafter defined) has been deposited with Landlord by Tenant contemporaneously with the execution hereof.

 

(e) Commencement Date shall mean August 1, 2000, except as such date may be delayed pursuant to the provisions of paragraph 3(c) hereof.

 

(f) Lease Term shall mean the term commencing on the Commencement Date: and continuing Until 60 months after the first day of the first full month following the Commencement Date.

 

(g) Security Deposit shall mean the sum of $10,500.00.

 

(h) Building Common Areas shall mean those areas devoted to lobbies and entryways.

 

(i) Common Areas shall mean the Building Common Areas and corridors, elevator foyers, restrooms, mechanical rooms, janitorial closets, electrical and telephone closets, vending areas and other similar facilities provided for the common use or benefit of tenants generally and/or the public.

 

(j) Single Floor Common Areas shall mean that pan of the Common Areas located on a designated floor.

 

(k) Service Areas shall mean those areas within the outside walls of the Building used for elevator mechanical rooms, building stairs, fire towers, elevator shafts, flues, vents, stacks, pipe shafts and vertical ducts (but shall not include any such areas for the exclusive use of a particular Tenant).

 

(l) Net Rentable Area of one floor or the Building shall mean the gross area within the inside surface of the outer glass or other material comprising the exterior walls or the Building to the Common Areas or Service Areas side of walls separating the Common Areas and Service Areas from any other areas of the floor.


 

End of Preview

 

Home        Intelligence        Services        Subscriptions        News        About Us

Contact Us       Terms of Use       Resend Documents       Shopping Cart

Copyright © 2008 The Consus Group LLC