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LEASE AGREEMENT

Lease Agreement

LEASE AGREEMENT | Document Parties: BIOTEL INC. | BRAEMAR, INC | JONESTOWN PROPERTIES, LLC You are currently viewing:
This Lease Agreement involves

BIOTEL INC. | BRAEMAR, INC | JONESTOWN PROPERTIES, LLC

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Title: LEASE AGREEMENT
Date: 9/29/2008

LEASE AGREEMENT, Parties: biotel inc. , braemar  inc , jonestown properties  llc
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Exhibit 10.8

LEASE

          THIS LEASE AGREEMENT made and entered into this 15 th day of april, 2008, by and between Jonestown Properties, L.L.C., hereinafter referred to as “Lessor”, and Braemar, Inc., hereinafter referred to as “Lessee”.

WITNESSETH:

          Lessor, for and in consideration of the rents herein reserved and the terms, covenants, conditions and agreements set forth herein to be kept and performed by Lessee, does hereby grant, demise, lease and let unto the said Lessee, and Lessee does hereby lease from Lessor the following described premises (“Premises” or “Demised Premises”):

 

 

 

 

That certain Unit, Suite 6, containing approximately 1420 square feet, which Unit is located approximately as shown in yellow on the floor plan labeled “Exhibit A” which is attached hereto and by this reference made a part hereof, in the Jonestown Plaza (“Shopping Center”); said premises to be occupied and used by Lessee for conducting the business of Lessee and for no other purpose whatsoever.

 

          THE PARTIES HERETO for themselves, their heirs, distributees, executors, administrators, legal representatives, successors and assigns, hereby covenant and agree as follows:

          TERM: The term of this Lease shall be 36 months commencing on July 1, 2008, subject, however, to the terms and conditions herein contained, and ending June 30, 2011.

          RENTAL:

          1. Minimum rent for the first year of this Lease shall be fixed at a monthly rate of One Thousand Four Hundred Twenty Dollars ($1,420.00), with the first such payment due on July 1, 2008. Rent shall be adjusted on the first month of each subsequent payment year of this Lease to include a 3% annual growth factor increase. Lease may be terminated after 24 months with a three month written notice from Tenant.

          2. All rent shall be paid to the Lessor at the address as set forth in Paragraph 3 herein. Rent for any partial month shall be prorated on a daily basis and on the basis of the number of days in any month for which rent shall be prorated.

          3. The Lessor acknowledges deposit in the amount of $1,420.00 held by Lessor as rental for the following purposes:

          (a) If the Lease is canceled for default by Lessee, then no part of the security fund shall be returned to Lessee by Lessor, nor shall the Lessor be bound to account for any part thereof; the Lessor may either retain the security fund as liquidated and agreed upon damages or else the Lessor may apply it towards the actual damage sustained by it because of Lessee’s breach or default, without in any way affecting the right of Lessor to assert any and all other remedies available to Lessor under the terms of this Lease and/or under State law against the Lessee by reason of such default or breach;


          (b) No interest shall be paid on any part of the security fund, nor shall any part be considered as rent;

          (c) Lessor may commingle said security fund together with its own general funds;

          (d) Upon the termination of this Lease, if Lessee has fully complied with all of the terms hereof, the said security fund will be returned to Lessee by Lessor.

          4. Lessee shall pay the rent herein reserved at the times and in the manner stated, without notice or demand.

ADDITIONAL RENT AND CHARGES:

          1. In addition to the Minimum Rent, all other payments to be made by Lessee hereunder to Lessor (including Percentage Rent, if applicable) shall be deemed for the purpose of securing the collection thereof to be Additional Rent hereunder, whether or not the same be designated as such; and Lessor shall have the same rights and remedies upon Lessee’s failure to pay the same as for the non-payment of Minimum Rent. Any charges against the Lessee by the Lessor for services or for work done on the premises by order of Lessee, or otherwise accruing under this Lease shall be considered as rent due and shall be included in any lien for rent due and unpaid.

          2. Lessee shall pay within thirty (30) days after billing by Lessor, its pro-rata share of (i) Real Property Taxes and (ii) expenses of operating and maintaining the Shopping Center, including but not limited to water, trash and other utility services, common area and parking lot lighting and maintenance, and insurance coverage carried by Lessor with respect to the Shopping Center including a 15% fee for the administration of same. The Lessee’s occupancy charges are to be Two Hundred Thirty-seven Dollars ($237.00) per month ($2.00 per square foot annually).

          (a) Any additional garbage dumpster(s) or other additional waste disposal needs (ie. excessive waste volume, hazardous waste, grease or other kitchen waste, etc.) required by Lessee shall be paid at Lessee’s sole expense, and shall be in addition to Lessee’s share of the common operating and maintenance expenses as set forth in Paragraph 2 herein.

          (b) Any excessive water or other utility usage over the average usage for other tenants in the Shopping Center shall be Lessee’s responsibility and shall be in addition to Lessee’s share of the common operating and maintenance expenses as set forth in Paragraph 2 herein.

          3. All payments of rental shall be paid by Tenant to Owner without any right of set-off and without notice or demand at the address set forth in the notice provisions of this Lease or at such other address as Owner may from time to time designate in writing to Tenant. All rental shall be paid by check payable to Jonestown Properties, LLC at such location, or to such person, firm or corporation, as Owner may designate in the future by notice.

          4. Lessee shall pay when due all charges for gas, electricity and any other illuminant and power, for water used upon and in connection with the premises, and all waste and sewage disposal. Lessor may elect to provide some or any of such services on behalf of all tenants in common and bill each tenant for its pro-rata share of the total billing.


          LATE FEES: If Lessee shall fail to pay any Minimum Rent, Percentage Rent (if applicable), Additional Rent, or any other sums to become due hereunder within ten (10) days after the same becomes due an payable, then in such event, Lessee shall pay to Lessor a late payment service charge (covering administrative and overhead expenses) of 10% of the rental due. The provisions herein for late payment service charges shall not be construed to extend the dates for compliance with the provisions concerning such matters, nor to relieve Lessee of its obligation to pay such sums at the time herein stipulated.

          Notwithstanding the imposition of such charges, Lessee shall be in default under this Lease if any or all payments are not made at the time stipulated by this Lease, and neither the demand nor collection by Lessor of such late payment service charge shall be construed as a cure for such default on the part of Lessee.

          OTHER CONDITIONS:

          1. Lessee shall make no incineration of trash or waste on the premises or on the Shopping Center property, it being understood and agreed that Lessee shall use, in common with other tenants of the Shopping Center, the trash service contracted for by Lessor, and pay to Lessor its pro-rata share of the expense thereof.

          2. Lessee acknowledges that the premises have been received in thoroughly good order, tenantable condition and repair, of which fact the execution of this Lease, and taking possession hereunder shall be conclusive evidence; that no representation as to the condition of said premises has been made by the Lessor or Lessor’s agents and that no obligation as to the repairing, adding to, or improving said premises has been assumed by the Lessor except as set forth herein, and that no oral arrangements have been entered into in consideration of making this Lease, and that said Lease contains a full statement of both parties hereto.

          3. Lessee, at its sole expense, shall comply with all laws, orders, and regulations of Federal, State, County, Municipal and other governmental authorities, and with any direction of any public officer pursuant to law, which shall impose any violation, order or duty upon Lessor or Lessee with respect to the premises or to use of occupancy thereof.

          4. Lessee shall open the entire premises for business on the Commencement Date. If Lessee fails to take possession and open for business to the public on the Commencement Date, then in such event, in addition to all remedies in this Lease provided, the Lessor shall have the right to collect Minimum Rent and other sums payable hereunder.

          5. Lessee will not make any alterations or changes in the premises without the prior written consent of Lessor, and all additions, fixtures and improvements shall be and remain a part of the premises at the expiration of this Lease except for store and office furniture and fixtures which shall be readily removable without injury to the premises. At the expiration of this Lease, Lessee shall promptly remove any improvements installed or assumed by Lessee as upfit of the premises, if in the Lessors sole opinion the removal of any such improvements would assist in re-letting the premises. Any fixtures and improvements that are not removed at the request of the Lessor shall be and remain a part of the premises.


          6. Lessee shall not attach any signs to the premises, or place any lettering on the plate glass windows, unless such signs and such lettering be of a type, kind, character and description to be approved by the Lessor, in the interests of having a uniform system of lettering and display signs on all of the stores in the Shopping Center.

          7. Lessee shall not place any outdoor speakers, showcases, benches or any other type of obstruction in the rear or front of the premises without prior written consent of the Lessor.

          8. Lessee shall keep in good, sound, clean, tenantable condition and repair during the continuation of the term of this Lease the interior of said premises and every part thereof, including the heating/air conditioning systems, plumbing, sewer lines, septic tanks, doors, plate glass windows, and awnings, if any (which awnings Lessor shall not be called upon to furnish or repair during the term of the Lease) and will not suffer or permit any strip or waste of the premises. Lessee shall enter into an air-conditioning maintenance service contract with respect to the system within its premises and shall furnish to Lessor a copy of such contract or renewal prior to the start of each lease year. If Lessor elects to contract for air conditioning maintenance service on behalf of all tenants of the Shopping Center, then Lessee shall use such services as Lessor designates, and Lessee shall pay its pro-rata share of the cost thereof, as and when billed. Lessee shall not place a load upon any floor of the premises exceeding the floor load per square foot area which such floor was designed to carry and which is allowed by law. (Lessor reserves the right to prescribe the weight and position of all safes which must be place so as to distribute the weight.) Business machines and mechanical equipment shall be placed, installed or hung, and maintained by Lessee at Lessee’s expense in settings and in a manner sufficient in Lessor’s judgment to absorb and prevent vibration, noise and annoyance. If the premises be and become infested with vermin, Lessee shall at Lessee’s expense cause the same to be exterminated from time to time to the satisfaction of Lessor and shall employ such exterminator and exterminating company as shall be approved by Lessor. The water and wash closets and other plumbing fixtures shall not be used for any purpose other than those for which they were designed or constructed, and no sweepings, rubbish, rags, acids or like substances shall be deposited therein. No private wells or septic tanks shall be permitted on the premises or on the Shopping Center property.

          9. Lessee shall operate its premises in a first-class manner in accordance with sound business practices and maintain a sufficient stock of goods to successfully carry on its business. Lessee shall not abandon, vacate or remove the major portion of the goods, wares and merchandise usually kept on the premises when same is open for business, nor shall Lessee cease doing business in the premises during the term hereof.

          10. Lessee shall not assign, mortgage or encumber this Lease or underlet, or suffer or permit the premises or any part thereof to be used by others without the prior written consent of Lessor in each instance and such consent shall not be unreasonably withheld or delayed. Lessee further covenants that the said premises will not be used for any purpose that will invalidate any policies of insurance now or hereafter placed on the Shopping Center or the improvements located thereon or which will increase the rate of premium therefor. Lessee shall not permit or suffer any unreasonable noise, disturbance or nuisance whatsoever on said premises detrimental to same or annoying to the neighbors.


          11. Lessee shall have the right, in common, with all other tenants of the Shopping Center, their custom


 
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