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STANDARD FORM COMMERCE LEASE

Lease Agreement

STANDARD FORM COMMERCE LEASE | Document Parties: THERAGENICS CORP | NEEDLETECH PRODUCTS, INC You are currently viewing:
This Lease Agreement involves

THERAGENICS CORP | NEEDLETECH PRODUCTS, INC

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Title: STANDARD FORM COMMERCE LEASE
Date: 3/13/2009
Industry: Biotechnology and Drugs     Sector: Healthcare

STANDARD FORM COMMERCE LEASE, Parties: theragenics corp , needletech products  inc
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Exhibit 10.40

STANDARD FORM COMMERCE LEASE

 

1.

PARTIES

 (fill in)

LESSOR, which expression shall include            its      heirs, successors, and assigns where the context so admits, does hereby lease to NEEDLETECH PRODUCTS, INC. , a Massachusetts corporation with a regular place of business at 81 West Street, Attleboro, MA 02703

 

 

 

2.

PREMISES (fill in and include, if ap-plicable,

suite number, floor

LESSEE, which expression shall include its successors, executors, administrators, and assigns where the  context so admits, and the LESSEE hereby leases the following described premises;

 

number and square feet

45 John Williams St., Attleboro, MA 02703

 

 

 

 

 

11,325 SQUARE FOOT, SINGLE STORY, CONCRETE BLOCK MANUFACTURING BUILDING WITH MEZZANINE, FULLY AIR-CONDITIONED ON A 24,000 SQUARE FOOT LOT THE DEED TO WHICH MAY BE FOUND AT BOOK 138989, PAGE 22 IN THE BRISTOL COUNTY N.D. REGISTRY OF DEEDS

 

 

 

 

 

together with the right to use in common, with others entitled thereto, the hallways, stairways, and elevators, necessary for access to said leased premises and lavatories nearest thereto.

 

 

 

3.

TERM

(fill in)

The term of this lease shall be for          FIVE YEARS Commencing on          APRIL, 2006          and ending on       MAY, 2011

 

 

 

4.

RENT

(fill in)

The LESSEE shall pay to the LESSOR fixed rent at the rate of $66,000.00 per year, payable in advance in monthly installments of $5,500.00, subject to proration in the case of any partial calendar month.  All rent shall be payable without offset or deduction.

 

 

 

5.

SECURITY

DEPOSIT

(fill in)

Upon the execution of this lease, the LESSEE shall pay to the LESSOR the amount of DNA dollars, which shall be held as a security for the LESSEE’s performance as herein provided and refunded to the LESSEE at the end of this lease, without interest, subject to the LESSEE’s satisfactory compliance with the conditions hereof.

 

 

 

6.

RENT

ADJUSTMENT

N/A

 

 

 

 

 

A.

TAX

ESCALATION

(fill in or delete)

N/A

 

 

 

 

 

B.

OPERATING

COST

ESCALATION

(fill in or delete)

N/A

 

 

 

 

 

C.

CONSUMER

PRCE

ESCALATION

(fill in or delete)

(1) LESSEE agrees that in the event the “Consumer Price Index for Urban Wage Earners and Clerical Workers, U.S. City Average, All Items (1982-84=100)” (hereinafter referred to as the “Price Index”) published by the Bureau of Labor Statistics of the United States Department of Labor, or any comparable successor or substitute index designated by the LESSOR, appropriately adjusted, reflects an increase in the cost of living over and above the cost of living as reflected by the Price Index for the month of MAY, 2007 (hereinafter called the “Base Price Index”), the fixed rent shall be adjusted in accordance with sub-paragraph (2) of this Article.

 

 

 

 

7.

UTILITIES

The LESSEE shall pay, as they become due, all bills for electricity and other utilities (whether they are used for furnishing heat or other purposes) that are furnished to the leased premises and presently separately metered, and all bills for fuel furnished to a separate tank servicing the leased premises exclusively.  The LESSOR agrees to provide all other utility service and to furnish reasonably hot and cold water and reasonable heat and air conditioning* (except to the extent that the same are furnished through separately metered utilities or separate fuel tanks as set forth above) to the leased premises, the hallways, stairways, elevators, and lavatories during normal business hours on regular business days of the heating and air conditioning* seasons of each year, to furnish elevator service and to light passageways and stairways during business hours, and to furnish such cleaning service as is customary in similar buildings in said city or town, all subject to interruption due* to any accident, to the making of repairs, alterations, or improvements, to labor difficulties, to trouble in obtaining fuel, electricity, service, or supplies from the source from which they are usually obtained for said building, or to any cause beyond the LESSOR’s control.

*delete “air conditioning”

if not applicable

 


 

 

 

LESSOR shall have no obligation to provide utilities or equipment other than the utilities and equipment with the premises as of the commencement date of this lease.  In the event LESSEE requires additional utilities or equipment, the installation and maintenance thereof shall be in LESSEE’s sole obligation, provided that such installation shall be subject to the written consent of the LESSOR.

 

 

 

8.

USE OF LEASED

PREMISES

(fill in)

The LESSEE shall use the leased premises only for the purpose of MANUFACTURING NEEDLES AND RELATED PRODUCTS.

 

 

 

9.

COMPLIANCE

WITH LAWS

The LESSEE acknowledges that no trade or occupation shall be conducted in the leased premises or use made thereof which will be unlawful, improper, noisy or offensive, or contrary to any law or any municipal by-law or ordinance in force in the city or town in which the premises are situated.  Without limiting the generality of the foregoing (a) the LESSEE shall not bring or permit to be brought or kept in or on the leased premises or elsewhere on the LESSOR’s property any hazardous, toxic, inflammable, combustible or explosive fluid, material, chemical or substance, including without limitation any item defined as hazardous pursuant to Chapter 21E of the Massachusetts General Laws; and (b) the LESSEE shall be responsible for compliance with requirements imposed by the Americans with Disabilities Act relative to the layout of the leased premises and any work performed by the LESSEE therein.

 

 

 

10.

FIRE INSURANCE

The LESSEE shall not permit any use of the leased premises which will make voidable any insurance on the property o which the leased premises are a part, or on the contents of said property or which shall be contrary to any law of regulation from time to time established by the New England Fire Insurance Rating Association, or any similar body succeeding to its powers.  The LESSEE shall on demand reimburse the LESSOR, and all other tenants, all extra insurance premiums caused by the LESSEE’s use of the premises.

 

 

 

11.

MAINTENANCE

The LESSEE agrees to maintain the leased premises in good condition, damage by fire and other casualty only excepted, and whenever necessary, to replace plate glass and other glass therein, acknowledging that the leased premise are now in good order and the glass whole.  The LESSEE shall not permit the leased premises to be overloaded, damaged, stripped, or defaced, nor suffer any waste.  LESSEE shall obtain written consent of LESSOR before erecting any sign on the premises.

 

A.

LESSEE’S

 

 

 

OBLIGATIONS

 

 

 

 

 

 

B.

LESSOR’S

The LESSOR, agrees to maintain the structure of the building of which the leased premises are a part in the

 

 

OBLIGATIONS

condition as it is at the commencement of the term or as it may be put in during the term of this lease, reasonable wear and tear, damage by fire and other  casualty only excepted, unless such maintenance is required because of the LESSEE or those of whose conduct the LESSEE is legally reasonable.

 

 

 

 

12.

ALTERATIONS -

ADDITIONS

The LESSEE shall not make structural alterations or additions to the leased premises, but may make non-

structural alterations provided the LESSOR consents thereto in writing, which consent shall not be unreasonably withheld or delayed.  All such allowed alterations shall be at LESSEE’s expense and shall be in quality at least equal to the present construction.  LESSEE shall not permit any mechanics’ liens, or similar liens, to remain upon the l


 
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