THIS LEASE
AGREEMENT, made the 15 th day of April 2008, between Christian N.
Peter residing or located at 9 Whippany Road in the Township of
Hanover in the County of Morris and State of New Jersey, herein
designated as the Landlord, and LJR Inc. T/A Access to Money
residing or located at 628 Route 10 in the Town of Whippany in the
County of Morris and State of New Jersey 07981, herein designated
as the Tenant;
Witnesseth that,
the Landlord does hereby lease to the Tenant and the Tenant does
hereby rent from the Landlord, the following described
premises:
14289+/- square
feet located at 628 Route 10, Unit #6, 7, 8, 9, 10 &11 for a
term of five (5) years commencing on July 1, 2008, and ending
on June 30, 2013, to be used and occupied only and for no
other purpose than offices and equipment setup.
Upon the following
conditions and covenants:
1
st : The Tenant covenants and agrees to pay to the
Landlord, as rent for and during the term hereof, the sum of $**
per month in the following manner: in monthly payments in advance,
due on or before the first of each month. **$13.00 psf year #1,
$13.50 psf year #2, $14.00 psf year #3, $14.50 psf year #4, and
$15.00 psf year #5.
2
nd : The Tenant has examined the premises and has
entered into this lease without any representation on the part of
the Landlord as to the condition thereof. The Tenant shall take
good care of the premises and shall at the Tenant’s own cost
and expense, make all repairs, including painting decorating, and
shall maintain the premises in good condition and state of repair,
and at the end or other expiration of the term hereof, shall
deliver up the rented premises in good order and condition, wear
and tear from a reasonable use thereof, and damage by the elements
not resulting from the neglect or fault of the Tenant, excepted.
The Tenant shall neither encumber nor obstruct the sidewalks,
driveways, yards, entrances, hallways and stairs, but shall keep
and maintain the same in a clean condition, free from debris,
trash, refuse, snow and ice.
3
rd : In case of the destruction of or any damage to
the glass in the leased premises, or the destruction of or damage
of any kind whatsoever to the said premises, caused by the
carelessness, negligence or improper conduct on the part of the
Tenant or the Tenant’s agents, employees, guests, licensees,
invitees, subtenants, assignees or successors, the Tenant shall
repair the said damage or replace or restore any destroyed parts of
the premises, as speedily as possible, at the Tenant’s own
cost and expense.
4
th : No alterations, additions or improvements
shall be made, and no climate regulating, air conditioning,
cooling, heating or sprinkler systems, televisions or radio
antennas, heavy equipment, apparatus and fixtures, shall be
installed in or attached to the leased premises, without the
written consent of the Landlord. Unless otherwise provided herein,
all such alterations, additions or improvements and systems, when
made, installed in or attached to the said premises, shall belong
to and become the property of the Landlord and shall be surrendered
with the premises and as part thereof upon the expiration or sooner
termination of this lease, without hindrance, molestation or
injury.
5
th : The Tenant shall not place nor allow to be
placed any signs of any kind whatsoever, upon, in or about the said
premises or any part thereof except of a design and structure and
in or at such places as may be indicated and consented to by the
Landlord in writing. In case the Landlord or the Landlord’s
agents, employees or representatives shall deem it necessary to
remove any such signs in order to paint or make any repairs,
alterations or improvements in or upon said premises or any part
thereof, they may be so removed, but shall be replaced at the
Landlord’s expense when the said repairs, alterations or
improvements shall have been completed. Any signs permitted by the
Landlord shall at all times conform with all municipal ordinances
or other laws and regulations applicable thereto.
6
th : The Tenant shall pay when due all rents or
charges for water or other utilities used by the Tenant, which are
or may be assessed or imposed upon the leased premises or which are
or may be charged to the Landlord by the suppliers thereof during
the term hereof, and if not paid, such rents or charges shall be
added and become payable as additional rent with the installment of
rent next due or within 30 days of demand therefore, whichever
occurs sooner.
7
th : The Tenant shall promptly comply with all
laws, ordinances, rules, regulations, requirements and directives
of the Federal, State and Municipal Governments or Public
Authorities and of all their departments, bureaus and subdivisions,
applicable to and affecting the said premises, their use and
occupancy, for the correction, prevention and abatement of
nuisances, violations or other grievances in, upon or connected
with the said premises, during the term hereof; and shall promptly
comply with all orders, regulations, requirements and directives of
the Board of Fire Underwriters or similar authority and of any
insurance companies which have issued or are about to issue
policies of insurance covering the said premises and its contents,
for the prevention of fire or other casualty, damage or injury, at
the Tenant’s own cost and expense.
8
th : The Tenant, at Tenant’s own cost and
expense, shall obtain or provide and keep in full force for the
benefit of the Landlord, during the term hereof, general public
liability insurance, insuring the Landlord against any and all
liability or claims of liability arising out of, occasioned by or
resulting from any accident or otherwise in or about the leased
premises, for injuries to any person or persons, for limits of not
less than $500,000 for injuries to one person and $1,000,000 for
injuries to more than one person, in any once accident or
occurrence, and for loss or damage to the property of any person or
persons, for not less than $500,000. The policy or policies of
insurance shall be of a company or companies authorized to do
business in this State and shall be delivered to the Landlord,
together with evidence of the payment of the premiums therefore,
not less than fifteen days prior to the commencement of the term
hereof or of the date when the Tenant shall enter into possession,
whichever occurs sooner. At least fifteen days prior to the
expiration or termination date of any policy, the Tenant shall
deliver a renewal or replacement policy with proof of the payment
of the premium therefore. The Tenant also agrees to and shall save,
hold and keep harmless and indemnify the Landlord from and for any
and all payments, expenses, costs, attorney fees and from and for
any and all claims and liability for losses or damage to property
or injuries to persons occasioned wholly or in part by or resulting
from any acts or omissions by the Tenant or Tenant’s agents,
employees, guests, licensees, invitees, subtenants, assignees or
successors, or for any cause or reason whatever arising out of or
by reason of the occupancy by the Tenant and the conduct of the
Tenant’s business.
9
th : The Tenant shall not, without the written
consent of the Landlord, assign, mortgage or hypothecate this
lease, nor sublet or sublease the premises or any part
thereof.
10
th : The Tenant shall not occupy or use the leased
premises or any part thereof, nor permit or suffer the same to be
occupied or used for any purposes other than as herein limited, nor
for any purpose deemed unlawful, disreputable, or extra hazardous,
on account of fire or other casualty. No trade or occupation shall
be conducted on the leased premises that is contrary to any
municipal law or ordinance.
11
th : This lease shall not be a lien against the
leased premises in respect to any mortgages that may hereafter be
placed upon said premises. The recording of such mortgage or
mortgages shall have preference and precedence and be superior and
prior in lien to this lease, irrespective of the date of recording
and the Tenant agrees to execute any instruments, without cost,
which may be deemed necessary or desirable, to further effect the
subordination of this lease to any such mortgage or mortgages. A
refusal by the Tenant to execute such instruments shall entitle the
Landlord to the option of cancelling this lease, and the term
hereof is hereby expressly limited accordingly.
12
th : If the land and premises leased herein, or of
which the leased premises are a part, or any portion thereof, shall
be taken under eminent domain or condemnation proceedings, or if
suit or other action shall be instituted for the taking or
condemnation thereof, or if in lieu of any formal condemnation
proceedings or actions, the Landlord shall grant an option to
purchase and or shall sell and convey the said premises or any
portion thereof, to the governmental or other public authority,
agency, body or public utility, seeking to take said land and
premises or any portion thereof, then this lease, at the option of
the Landlord, shall terminate, and the term hereof shall end as of
such date as the Landlord shall fix by notice in writing; and the
Tenant shall have no claim or right to claim or be entitled to any
portion of any amount which may be awarded as damages or paid as
the result of such condemnation proceedings or paid as the purchase
price for such option, sale or conveyance in lieu of formal
condemnation proceedings; and all rights of the Tenant to damages,
if any are hereby assigned to the Landlord. The Tenant agrees to
execute and deliver any instruments, at the expense of the
Landlord, as may be deemed necessary or required to expedite any
condemnation proceedings or to effectuate a proper transfer of
title to such governmental or other public authority, agency, body
or public utility seeking to take or acquire the said lands and
premises or any portion thereof. The Tenant covenants and agrees to
vacate the said premises, remove all the Tenant’s personal
property therefrom and deliver up peaceable possession thereof to
the Landlord or to such other party designated by the Landlord in
the aforementioned notice. Failure by the Tenant to comply with any
provisions in this clause shall subject the Tenant to such costs,
expenses, damages, and losses as the Landlord may incur by reason
of the Tenant’s breach hereof.
13
th : In case of fire or other casualty, the Tenant
shall give immediate notice to the Landlord. If the premises shall
be partially damaged by fire, the elements or other casualty, the
Landlord shall repair the same as speedily as
practicable,
but Tenant’s obligation to pay the rent hereunder shall not
cease. If, in the opinion of the Landlord, the premises be so
extensively and substantially damaged as to render them
untenantable, then the rent shall cease until such time as the
premises shall be made tenantable by the Landlord. However, if, in
the opinion of the Landlord, the premises be totally destroyed or
so extensively and substantially damaged as to require practically
a rebuilding thereof, then the rent shall be paid up to the time of
such destruction and then and from thenceforth this lease shall
come to an end. In no event, however, shall the provisions of this
clause become effective or be applicable, if the fire or other
casualty and damage shall be the result of the carelessness,
negligence or improper conduc
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