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LEASE RENEWAL AGREEMENT

Lease Agreement

LEASE RENEWAL AGREEMENT | Document Parties: DATARAM CORP | 309 DEVELOPMENT COMPANY | MICRO MEMORY BANK, INC You are currently viewing:
This Lease Agreement involves

DATARAM CORP | 309 DEVELOPMENT COMPANY | MICRO MEMORY BANK, INC

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Title: LEASE RENEWAL AGREEMENT
Date: 7/28/2009
Industry: Computer Storage Devices     Sector: Technology

LEASE RENEWAL AGREEMENT, Parties: dataram corp , 309 development company , micro memory bank  inc
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                          LEASE RENEWAL AGREEMENT



     LEASE RENEWAL AGREEMENT made as of the last date endorsed hereon
between NAPPEN & ASSOCIATES, a Pennsylvania limited partnership t/a 309
DEVELOPMENT COMPANY ("Lessor")

                                  A N D

     MICRO MEMORY BANK, INC., a Pennsylvania corporation ("Lessee").
Basis of Agreement

     A.     By Lease Agreement dated December 31, 2000 (together with this
Lease Renewal Agreement on and after April 1, 2006, the "Lease"), Lessor
demised and let to Lessee, who hired from Lessor that certain portion of
building situate Lot No. 16, Montgomeryville Industrial Center, Montgomery
County, Pennsylvania, consisting of 17,500 sq. ft., more or less, known and
numbered 130 Corporate Drive, Montgomeryville, Pennsylvania 18936 (the
"Premises") for a term expiring March 31, 2006.

     B.     The parties desire to extend the term of the Lease for an
additional term of five (5) years, commencing April 1, 2006, and ending
March 31, 2011 ("Renewal Term").

     C.     The parties desire to set forth herein their agreement
regarding the terms of the Lease during the Renewal Term.

     NOW,THEREFORE, the parties hereto, intending to be legally bound
hereby, agree as follows:

     1.     The term of the Lease is hereby extended for a Renewal Term of
five (5) years, commencing April 1, 2006, and terminating March 31, 2011,
at 11:59 p.m., unless extended, renewed or previously terminated, as set
forth in the Lease.

     2.     During the Renewal Term, Article 3 of the Lease, entitled
"Minimum Annual Rent" shall be amended and supplemented to read as follows:


            "3. Minimum Annual Rent. The minimum annual rent ("Minimum
     Annual Rent") payable by Lessee to Lessor during the Renewal Term
     shall be Ninety Six Thousand Two Hundred Fifty and 00/100 Dollars
     ($96,250.00) per year, lawful money of the United States of America,
     payable in monthly installments in advance during the Renewal Term in
     sums of Eight Thousand Twenty and 83/100 Dollars ($8,020.83) on the
     first day of each month during the Renewal Term, commencing April 1,
     2006."

     3.     Article 25 of the Lease is hereby deleted in its entirety and
the following substituted therefor:

     "25. Extensions and Renewals.

          A. Extensions. It is hereby mutually agreed that in the event
     Lessee has not given the "Preliminary Renewal Notice" as defined in
     subparagraph 25(B), or has given the Preliminary Renewal Notice but
     has withdrawn the same, Lessee may terminate this Lease at the end of
     the Renewal Term and any subsequent renewal term or extension term, by
     giving to Lessor written notice at least one hundred eighty (180) days
     prior thereto, and Lessor may terminate this Lease at the end of the
     Renewal Term and any subsequent renewal or extension thereof by giving
     to Lessee written notice at least one hundred fifty (150) days prior
     thereto (each an "Expiration Notice"); but in default of an Expiration
     Notice given by either party in the manner provided herein, this Lease
     shall continue for an extension term of one (1) year, commencing the
     day after the expiration of the then current renewal term or extension
     term, as the case may be, upon the terms and conditions in force
     immediately prior to the expiration of the then-current renewal term
     or extension term, as the case may be (except for the Minimum Annual
     Rent, which shall be as computed in subparagraph 25(C) (iii)), and so
     on from year to year, unless terminated by the giving of an Expiration
     Notice within the times and in the manner aforesaid. In the event that
     Lessee or Lessor shall have given an Expiration Notice and Lessee shall
     fail or refuse to completely vacate the Premises and restore the same
     to the condition required in this Lease on or before the date
     designated in the Expiration Notice (the "Expiration Date"), then it
     is expressly agreed that Lessor, by notice to Lessee given no later
     than forty-five (45) days after the Expiration Date, shall have the
     option either:

          (i) to disregard the Expiration Notice as having no force and
effect, whereupon the Expiration Notice shall be null and void, ab inito,
as if never given; or

          (ii) treat Lessee as Holding Over, in accordance with paragraph
2(B) of the Lease.

     All powers granted to Lessor by this Lease shall be exercised and all
obligations imposed upon Lessee by this Lease shall be performed by Lessee
during the Renewal Term, as well as during any subsequent extension or
renewal terms of this Lease.

     Notwithstanding anything set forth  


 
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