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REAL ESTATE LEASE AGREEMENT
THIS
AGREEMENT, is made this _____ day of ________________, 200___, by and between
_____________________________ ("LESSOR"), a Pennsylvania limited
liability company, with its offices at _________________________________________,
A
N
D
_______________________________________
("LESSEE"), a Pennsylvania corporation with offices at
______________________________________.
WHEREAS, Lessor is the owner certain land and
improvements situate in the Township of __________________, County of
_____________________ and Commonwealth of Pennsylvania, a description of which
is attached hereto as Appendix "A"; and
WHEREAS, Lessor desires to lease the foregoing
land and improvements (hereinafter referred to as the "Leased
Premises") to Lessee; and
WHEREAS, the Lessee has agreed to lease the
Leased Premises from the Lessor; and
WHEREAS, Lessor and Lessee desire to set forth
in writing the terms and conditions for the lease as hereinafter set forth.
NOW, THERFORE, in consideration of the mutual
covenants and promises herein contained, the parties, intending to be legally
bound, agree, represent and warrant as follows:
1. Leased
Premises. Lessor hereby leases
to Lessee, and Lessee hereby leases and rents from Lessor, the Leased Premises
described on Appendix "A" hereto.
2. Term. The term of this Lease Agreement shall
commence on _____________________ and shall continue for __________________
months thereafter, unless sooner terminated as provided herein, and from month
to month thereafter.
3. Rent. The rental shall be the sum of
___________________Dollars for the lease of the Leased Premises during the term
thereof, payable in ____________ equal monthly installments of $_________
commencing on the _________________, and continuing on the like day of each
month thereafter during the term of the Lease Agreement.
4. Real
Estate Taxes. Lessee shall be
responsible for the payment of all real estate taxes imposed upon the Leased
Premises during the term of this Agreement or any extensions thereof.
5. Utilities. Lessee shall pay, directly to the
appropriate supplier, all costs of all natural gas, electricity, heat, power,
sewer service, telephone, water, refuse disposal and other utilities and
services furnished or supplied to the Lessee at the Leased Premises. Lessor shall not in any way be liable
or responsible to Lessee for any loss, damage or expense which Lessee may
sustain or incur if either the quantity or character of such service is changed
or is no longer available or suitable for Lessee's requirements.
6. Maintenance
and Repair. Lessor shall have
no responsibility for the maintenance and upkeep of the Leased Premises during
the term of this Agreement. Lessee
shall, at Lessee's expense, keep the Leased Premises in good repair, safe
condition and order and shall pay for the repair of all damages, whether caused
by Lessee, its agents, employees or invitees or otherwise. Lessee shall promptly arrange, at
Lessee's sole expense, for the repair of all damage to the Leased Premises and the
maintenance, replacement and repair of the entire Leased Premises, including
but not limited to, the roof, heating and air conditioning systems, roadways
and parking areas, damaged or broken glass (including signs), fixtures and
appurtenances (including hardware, electrical, plumbing and other mechanical
facilities) in the Leased Premises with materials equal in quality and class to
the original materials damaged or broken within any reasonable period of time
specified by Lessor, using contractors or persons acceptable to Lessor. If Lessee does not promptly make such
arrangements, Lessor may, but need not, make such repairs and replacements and
one hundred twenty-five (125%) percent of Landlord's cost for such repairs and
replacements shall be deemed additional rent and shall be due and payable upon
demand. Lessor shall not be liable
for any injury to or interference with Lessee's business arising from the
performance of any repairs, maintenance or improvements to the Leased Premises.
7. Lessee's
Improvements. Lessee shall not
make any alterations, installations, improvements or changes to the Leased
Premises at any time for any reason without the prior written approval of
Lessor.
8. Insurance. Lessee agrees that during the term of
the Lease Agreement and any extensions thereof it shall carry and maintain at
its sole cost and expense, and for the mutual benefit of Lessor and Lessee,
comprehensive general liability insurance covering all occurrences within the
Leased Premises and any adjacent areas during the term hereof or any extension
thereof with limits of coverage of not less than $1,000,000 per occurrence.
Lessee shall provide evidence of such coverage in the form of original policies
or certificates of insurance and, at least thirty (30) days prior to the
expiration of such coverage, evidence of the renewal thereof. Such insurance shall also contain a
provision that the same may not be cancelled without ten (10) days prior
written notice to Lessor by certified or registered mail.
9. Damage
or Destruction. In the event
the Leased Premises are damaged by fire, explosion, the elements or otherwise,
neither Lessor nor Lessee may terminate this Lease. Lessor shall, at his option, elect (a) to proceed
immediately to repair the Leased Premises, in which event all rent shall abate
and until the repairs are completed, and the Lessee is restored to possession,
but in which event the Lessee shall not be relieved from any further obligation
under this Lease Agreement, or (b) to cancel this Lease
Agreement,
in which event the Lessor shall have no further obligation to the Lessee.
10.
Eminent Domain.
Condemnation of the Leased Premises shall be subject to the following
terms and conditions:
(a) Lessor
must notify Lessee in writing of any condemnation proceeding within ten (10)
days after actual knowledge of such proceeding is obtained by Lessor.
(b) In
the event all of the Leased Premises are taken or appropriated under the power
of eminent domain by any public or quasi-public authority, this Lease Agreement
will terminate as of the date Lessee shall be deprived of the physical
possession thereof or, at Lessee's option, at such earlier date as title to the
Leased Premises is transferred to the condemning authority.
(c) In
the event less than all of the Leased Premises are taken or appropriated by
public or quasi-public authority, Lessee shall have the option to terminate
this Lease Agreement as of the date Lessee shall be dispossessed from the parts
so taken.
(d) In
the event the Lease Agreement shall be terminated in accordance with
subparagraph 10(b) or 10(c), the monthly rental installment for the last month
of Lessee's occupancy shall be prorated and Lessor agrees to refund to Lessee
any part thereof paid in advance.
(e) In
the event the Lease Agreement shall be terminated in accordance with
subparagraph 10(b) or 10(c), Lessee shall waive the right to make a separate
claim against the condemning authority for loss or damage to its leasehold
interest, or to the buildings, improvements, fixtures, furnishings and any
other real or personal property of Lessor, but may file a separate claim for
Lessee's relocation costs, building improvements, fixtures, furnishings and any
other real or personal property.
11.
Indemnification.
Lessee assumes liability for and shall indemnify, protect, save and hold
harmless Lessor from and against all losses, damages, penalties, claims,
actions, suits, costs, expenses and disbursements, including legal fees and
expenses, incurred by Lessor in defending any such claims or whatsoever kind
and nature imposed upon, incurred by or asserted against the Lessor in any way
relating to or arising out of this Lease Agreement from the possession, use,
operation and maintenance of the Leased Premises by the Lessee. The indemnities contained in this
paragraph shall continue in full force and effect, notwithstanding the
termination of this Lease Agreement.
12.
Covenant Against Liens.
Lessee has no authority or power to cause or permit a lien or
encumbrance of any kind whatsoever, whether created by act of Lessee, operation
of law or otherwise, to attach to or be placed upon Lessor's title or interest
in the Leased Premises and any liens and encumbrances created by Lessee shall
attach to Lessee's interest only.
Lessee covenants and agrees not to suffer or permit any mechanic's or
materialmen's liens or charges to be filed against the Lessor or any portion of
the Leased Premises, resulting from any alteration or other act done by Lessee
or with respect to work or services claimed to have been performed or materials
claimed to have been furnished to Lessee for the Leased Premises, and in case
of any such lien attaching, Lessee covenants and agrees immediately to cause
such lien to be released and removed of record. Lessee also agrees to indemnify and save harmless Lessor
against any and all costs, damages, claims, suits or actions resulting
therefrom, including reasonable attorney's fees.
13.
Waste. Lessee shall
not do or suffer any waste or damage to the buildings and improvements located
upon the Leased Premises or permit or suffer any loading of the roofs or floors
to an amount in excess of the amount which such roofs and floors were designed
to support.
14.
Inspection and Exhibition of Leased Premises. Any duly authorized agent of Lessor may
enter the Leased Premises at all reasonable times and upon reasonable notice to
inspect the Leased Premises. Any
duly authorized agent of Lessor may enter the Leased Premises at all reasonable
times and upon reasonable notice to exhibit the Leased Premises to prospective
purchasers or lessees or to make repairs or improvements to the Leased
Premises, provided that Lessor shall not unreasonably interfere with the
conduct of Lessee's business or with the use and enjoyment of the Leased
Premises by Lessee. When
conveniently possible, Lessor shall give prior notice (oral or written) before
any such entry. Lessor may retain
at all times pass keys to the Leased Premises.
15.
Quiet Enjoyment.
Lessor covenants and agrees that if Lessee shall perform all the covenants
and agreements to be kept and performed on Lessee's part, Lessee shall at all
times during the term of the Lease Agreement and any extensions thereof have
the peaceful and quiet enjoyment and possession of the Leased Premises without
any hindrance from Lessor or any other person or persons lawfully claiming the
Leased Premises. Except as
otherwise provided herein, Lessor shall not make any improvements or changes to
the Leased Premises during the term hereof without the consent of Lessee, which
shall not be unreasonably withheld.
16.
Use of Premises. The
Leased Premises shall be used by Lessee only the laboratory facilities of the
Lessee and the corporate offices of Lessee. Lessee shall use and occupy the Leased Premises in a safe,
careful and proper manner, and will comply with all laws, ordinances and
regulations as to the use, occupancy, and condition of the Leased Premises.
Lessee will not allow the Leased Premises to be used for any purposes or in any
manner that will increase the rate of insurance or increase the hazard of fire
to the Leased Premises.
17.
Signs. Subject to
Lessor's approval, Lessee shall have the right to install, maintain and place
on the Leased Premises such signs as it deems necessary and proper in the
conduct of its business, provided Lessee pays all license or permit fees which
may be required for the erection and maintenance of such signs, and provided
Lessee shall comply with all applicable governmental regulations. Lessee agrees to indemnify and save
harmless Lessor from and against any and all costs, damages, claims, suits or
actions for any damage or injury to persons or property caused by the erection,
maintenance and removal of such signs or parts thereof, and insurance coverage
for such signs shall be included in the public liability policy which Lessee is
required to furnish hereunder.
18.
Default. If after
written notice to Lessee and failure to cure within twenty (20) days, (a)
Lessee fails to pay any rent or other amount herein provided when the same
shall become due and payable, (b) Lessee fails to observe, keep or perform any
other provisions of this Lease Agreement required to be observed, kept or
performed by Lessee, (c) any policy of insurance required to be maintained by
Lessee shall be terminated or cancelled in whole or in part without the prior
written consent of Lessor, or (d) Lessee shall otherwise default as provided
herein or in any other agreements or leases between Lessor and Lessee or any
related parties, the Lessor shall have the right to exercise any one or more of
the following remedies:
(i) To
sue for and recover all rents and other payments then accrued or thereafter
accruing hereunder together with any and all damages which may accrue by reason
of Lessee's breach of this Lease Agreement.
(ii) Lessor
may, upon ten (10) days written notice to Lessee and without further demand,
terminate this Lease Agreement and/or re-enter, and may, but shall not be
obligated to do so, re-rent the Leased Premises for such rent and upon such
terms conditions as Lessor may see fit, and if this Lease Agreement not been
terminated in the above manner, Lessee shall not be released from its
obligations for rent and for the keeping and performing of all other terms and
provisions of this Lease Agreement on its part to be kept and performed during
the term hereof.
(iii)
The entire rent for the balance of the term shall, at Lessor's option,
become immediately due and payable as if by the terms of this Lease Agreement
it were all payable in advance. In
such event, Lessor shall serve upon Lessee written notice of such
acceleration. At such time Lessor
may also serve on Lessee written notice as to the effective termination of the
term of this Lease Agreement. In
such event, Lessee shall have no right to avoid such termination by payment of
any sum due or the performance of any condition, term or covenant broken. Lessee shall, however, thereupon
surrender quiet and peaceful possession of the Leased Premises to Lessor. Notwithstanding any statute, rule or
law or decision of any court to the contrary, Lessee shall remain liable, even
after termination of this Lease Agreement, for Base Rent, additional rent,
accelerated rent due or to become due hereunder and for all damages caused by
any or all Lessee's non-payment defaults under this Lease Agreement.
(iv) For
value received and upon the occurrence of an event of default hereunder, Lessee
does hereby empower any attorney of any court or record within the Commonwealth
of Pennsylvania, to appear for Lessee and with or without complaint filed,
confess judgment against Lessee and in favor of Lessor, its successors or
assigns, in the Commonwealth of Pennsylvania, for the sum due by reason of said
default in the payment of base rent and other sums, including additional rent
and accelerated rent and for the sum due by reason of any breach of covenant or
condition broken by Lessee, with costs of suit and attorney's commission of ten
(10%) percent for collection, and forthwith issue a writ or writs of execution
thereon with release of all errors and without stay of execution.
(v) For
value received and upon the occurrence of an event of default hereunder, or
upon termination of the term of this Lease Agreement and the failure of Lessee
to deliver possession to Lessor, Lessee further authorizes and empowers any
such attorney (either in addition to or without such judgment for the amount
due according to the terms of this Lease Agreement) to appear for Lessee and
any other person claiming under, by or through Lessee, and confess judgment forthwith
against Lessee and such other person and in favor of Lessor in an amicable
action of ejectment for the Leased Premises filed in the Commonwealth of
Pennsylvania, with release of all errors, and Lessor may forthwith issue a writ
or writs of execution for possession of the Leased Premises and, at Lessor's
option, for the amount of any judgment, and all costs,
without leave of court, and Lessor may, by legal
process, without notice re-enter and expel Lessee from the Leased Premises, and
also any persons holding under Lessee.
(vi) Lessor
shall be entitled to recover in addition to all damages, the reasonable
expenses of litigation, including attorneys' fees and other costs.
(vii) Lessor
will have available any other remedy at law or in equity.
(viii) All
of Lessor's remedies herein set forth or provided by law shall be cumulative
and not exclusive and may be pursued immediately or separately at the sole
option of Lessor.
19.
Bankruptcy. In the
event the Lessee shall file a petition in bankruptcy or shall be adjudicated
bankrupt or insolvent or shall make a general assignment for the benefit of
creditors or shall have a receiver or trustee appointed, then the Lessor may
terminate this Lease Agreement giving notice to Lessee of its intention to do
so.
20.
Abandonment.
Abandonment of the Leased Premises by Lessee shall constitute a default
under this Lease Agreement and shall entitle Lessor, at its sole option, to
exercise any of Lessor's remedies set forth in Paragraph 18. Lessee shall be deemed to have
abandoned the Leased Premises if Lessee, without the prior consent of Lessor,
removes all or substantially all of Lessee's furniture, equipment, appliances
and personal property from the Leased Premises and Lessee is delinquent in the
payment of
the
monthly rent installment due hereunder for more than fifteen (15) days. Upon abandonment of the Leased Premises
by Lessee as aforesaid, Lessor shall make a good faith effort to serve written
notice on Lessee in accordance with Paragraph 23 hereof (to the effect that,
unless Lessee immediately cures its default by bringing rent payments current
and by giving Lessor adequate assurance that Lessee is willing and able to
perform its obligations under this Lease Agreement, Lessor intends to re-enter
the Leased Premises and take possession thereof and that, if Lessor does so,
Lessor may dispose of any remaining furniture, fixtures, equipment, appliances
and personal property of Lessee); and shall also post the Leased Premises with
such notice. Both actions may be
taken concurrently by Lessor, if Lessor elects to proceed under this Paragraph
20. At any time more than five (5)
business days after the giving of the aforesaid notice to Lessee and the
posting of the Leased Premises (whichever shall later occur), Lessor may
re-enter the Leased Premises and retake possession of the same on behalf of
Lessee (such action by Lessor, however, shall not be deemed or construed to be
an acceptance of surrender of possession of the Leased Premises by Lessee
unless otherwise stated in Lessor's notice to Lessee). Further in the event of Lessor's
re-entry into the Leased Premises as aforesaid, Lessor may take possession of
any such remaining furniture, fixtures, equipment, appliances and personal
property of Lessee in and about the Leased Premises, and ten (10) days or more
after said re-entry, Lessor may sell or dispose of the same in a commercially
reasonable manner; provided, however, that, if, prior to said sale or disposal,
Lessee requests return of such property and simultaneously pays all delinquent
rents and all of Lessor's reasonable expenses (including attorneys' fees and
other legal costs) arising out of Lessee's abandonment, then Lessor shall
return Lessee's property to Lessee. The proceeds receive from any sale of
Lessee's property by Lessor shall be applied as a credit against any delinquent
rentals and expenses (including reasonable attorneys' fees and other legal
costs). The balance, if any, shall
be remitted to Lessee. For value
received and with intent to be legally bound by these presents, Lessee does
hereby release and discharge Lessor from all liability and from any and all
claims, demands and suits or causes of action in law or equity arising out of
or in any manner related to any action taken by Lessor pursuant to this
Paragraph 20.
21.
Waiver. No party
shall be deemed to have waived any right, power or privilege under this Lease
Agreement, unless such waiver shall have been executed in writing and expressly
acknowledged by the parties to be charged with such waiver. The failure of any party to enforce at
any time of the provisions of this Lease Agreement shall in no way be construed
to be a waiver of such provisions nor in any way to affect the validity of this
Lease Agreement or any part thereof, or the right of any party thereafter to
enforce each and every provision.
No waiver of any breach of
this
Lease Agreement shall be held to be a waiver of any other or subsequent breach.
22.
Surrender of Leased Premises. At the expiration or earlier termination of the Lease
Agreement1 Lessee shall surrender the Leased Premises, together with
alterations, installations and improvements to the Leased Premises, in as good
condition and repair as when received by Lessee, except for ordinary wear and
tear, damage or destruction to the Leased Premises by fire or other hazards
insured against under Lessee's extended coverage insurance and acts on the part
of any governmental authority.
23.
Notices to Parties.
All notices, requests, demands or other communications required hereunder
shall be in writing and shall be deemed to have been duly given if addressed
and mailed as follows:
TO
LESSOR: TO
LESSEE:
24.
Rights of Successors and Assigns. This Lease Agreement shall bind and inure to the benefit or
detriment of the parties hereto and their respective successors in interest and
legal representatives.
25.
Construction. This
Lease Agreement shall be construed in accordance with the laws of the
Commonwealth of Pennsylvania.
26.
Entire Agreement.
This Lease Agreement cannot be changed orally and constitutes the entire
contract between the parties hereto.
It shall not be modified nor changed by any expressed or implied
promises, warranties, guarantees, representations or other information unless
expressly and specifically set forth in this Lease Agreement or an addendum
thereto properly executed by the parties.
27.
Partial Invalidity.
In the event any term, covenant, condition or provision of this Lease
Agreement or the application thereof is determined to be invalid or
unenforceable, to any extent, the remainder of this Lease Agreement shall not
be affected thereby, and each term, covenant, condition and provision of this
Lease Agreement shall be valid and be enforced to the fullest extent permitted
by law.
28.
Paragraph Headings.
The headings referring to the contents of paragraphs of this Lease
Agreement are inserted for convenience and are not to be considered as part of
this Lease Agreement or as a limitation on the scope of the particular
paragraphs to which they refer.
29.
Cooperation by the Parties.
The parties, at any time before or after the closing date, will execute,
acknowledge and deliver any further written applications, certificates and
other assurances reasonably requested by either party. If requested, the parties further agree
to prosecute or otherwise enforce in their own names for the benefit of the
other party any claims, rights or benefits that are transferred by this
agreement and that require prosecution or enforcement in the name of the other
party. Any prosecution or
enforcement of claims, rights or benefits under this paragraph shall be solely
at the expense of the real party in interest, unless the prosecution or
enforcement is made necessary by a breach of this agreement.
IN WITNESS WHEREOF, the parties, intending to be
legally bound, have executed this Lease Agreement the day and year first above
written.
WITNESS: LESSOR:
____________________________
________________________________
ATTEST: LESSEE:
____________________________
_______________________________
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