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Exhibit
10.12
Business
Lease
THIS AGREEMENT, entered into
this 1st day of July, 2006, between E & E Investments, A
Florida General Partnership, hereinafter called the lessor, party
of the first part, and Intellon Corporation of the County of Marion
and State of Florida hereinafter called the lessee or tenant, party
of the second part:
WITNESSETH, That the said
lessor does this day lease unto said lessee, and said lessee does
hereby hire and take as tenant under said lessor Units 100-900
Approximately 27,500 sq. FT of space. Located at 5100 W. Silver
Springs Blvd. Which is a portion of Lot "1", Block "C" of the Ocala
Airport Commerce Center
No.
situate in Marion Count (Ocala) Florida,
to be used and occupied by the lessee as Office And Light
Manufacturing and for no other purposes or uses whatsoever, for the
term of Two Years, beginning the First day of July, 2006, and
ending the Thirtieth day of June, 2008, at and for the agreed total
rental of Four Hundred Twenty Six Thousand Two hundred fifty
Dollars ($426,250.00) plus all sales Tax payable as follows: From
July 1, 2006-June 30, 2007, ($17,187.50) Seventeen
thousand one hundred eighty seven dollars and fifty cents Plus all
sales tax per month payable on the first day of each month
beginning July 1, 2006. From July 1, 2007-June 30,
2008, (18,333.33) Eighteen Thousand three hundred thirty three
dollars and thirty three cents plus all sales tax per month payable
on the first day of each month beginning July 1,
2007.
Sales Tax is currently 6.5%
for a total of $18,304.68.
all payments to be made to the lessor on
the first day of each and every month in advance without demand at
the office of E & E Investments, 85 SW 52nd Ave in
the City of Ocala, FL 34474 or at such other place and to such
other person, as the lessor may from time to time designate in
writing.
The following express
stipulations and conditions are made a part of this lease and are
hereby assented to by the lessee:
FIRST: The lessee shall not
assign this lease, nor use the same, or any part thereof, nor
permit the same, or any part thereof, to be used for any other
purpose than as above stipulated, nor make any alterations therein,
and all additions thereto, without the written consent of the
lessor, and all additions, fixtures or improvements which may be
made by lessee, except movable office furniture, shall become the
property of the lessor and remain upon the premises as a part
thereof, and be surrendered with the premises at the termination of
this lease. Unless said additions, fixtures, or improvements can be
removed by lessee without damage to the premises.
SECOND: All personal property
placed or moved in the premises above described shall be at the
risk of the lessee or owner thereof, and lessor shall not be liable
for any damage to said personal property, lessee arising from the
bursting or leaking of water pipes, or from any act of negligence
of any co-tenant.
THIRD: That the tenant
shall promptly execute and comply with all statutes, ordinances,
rules, orders, regulations and requirements of the Federal, State
and City Government and of any and all their Departments and
Bureaus applicable to said premises, for the correction,
prevention, and abatement of nuisances or other grievances, in,
upon, or connected with said premises during said term.
FOURTH: In the event the
premises shall be destroyed or so damaged or injured by fire or
other casualty during the life of this agreement, whereby the same
shall be rendered untenantable, then the lessor shall have the
right to render said premises tenantable by repairs within ninety
days therefrom. If said premises are not rendered tenantable within
said time, it shall be optional with either party hereto to cancel
this lease, and in the event of such cancellation the rent shall be
paid only to the date of such fire or casualty. The cancellation
herein mentioned shall be evidenced in writing. The rent shall be
reduced pro rata to the extent the premises are
untenantable.
FIFTH: The prompt payment of
the rent for said premises upon the dates named and the faithful
observance of the rules and regulations printed upon this lease,
and which are hereby made a part of this covenant, are the
conditions upon which the lease is made and accepted and any
failure on the part of the lessee to comply with the terms of said
lease, or any of said rules and regulations now in existence, shall
at the option of the lessor, work a forfeiture of this contract,
and all of the rights of the lessee hereunder.
SIXTH: If the lessee shall
abandon or vacate said premises before the end of the term of this
lease, or shall suffer the rent to be in arrears, the lessor may,
at his option, forthwith cancel this lease or he may enter said
premises as the agent of the lessee, without being liable in any
way therefore, and relet th
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