EXHIBIT
10.19
OFFICE
LEASE
THIS
AGREEMENT ,
dated 11-9, 2005, between 3275 GABRILOVE, LLC , a Florida
Corporation, (“Landlord”) and IBD dba Interactive Brand
Development, a Florida corporation,
(“Tenant”).
WITNESSETH:
Landlord leasers to
Tenant and Tenant leases from Landlord certain space in the
Jefferson Pilot Financial Center, the address of which is 3275 W.
Hillsboro Boulevard, Suites 100, 102, 300, 303 and 304, Deerfield
Beach, FL 33442 (the “Building”), the premises being
more particularly identified on the floor plan attached hereto a
Exhibit “A” (the “Premises”), subject
always to the terms and condition hereof, to wit:
1.
Term . The Lease term shall commence on the
earlier of the date upon which Tenant opens for business from the
Premises or upon substantial completion by Landlord of the work
required of Landlord in the Work Letter attached hereto as Exhibit
“B” (the “Commencement Date”). The Lease
term shall end on the last day of the last full calendar month of
the term as more particularly set forth in the Schedule of Basic
Lease Terms attached hereto as Exhibit “C”. Landlord
shall be deemed to have substantially completed all work required
of it when the certificate of occupancy is issued by the government
entity having jurisdiction of such work (or, if such certificates
are not issued I the locality wherein the Premises are located, the
date of the certificate of Landlord’s architect that the work
is completed). Landlord agrees to deliver the Premises to Tenant
prepaid in the manner required by the Work Letter. If the Work
Letter contemplates a particular date by which Landlord’s
work shall be completed, such date is subject to extension because
of strikes, lockouts, acts of God, unavailability of materials,
whether, governmental restrictions, enemy action, civil connection,
terrorism, fire and other casualty, and other reasons beyond the
control of Landlord. Tenant’s taking possession of the
Premises shall constitute Tenant’s acknowledgement that the
Premises have been properly prepared and are in satisfactory
condition except for items specifically enumerated in writing by
tenant and agreed to by landlord. Contemporaneously with
Landlord’s substantial completion of its work, Landlord will
furnish to Tenant a notice specifying the date of substantial
completion, the Commencement Date and the computation of square
footage of the Building and the Premises (based upon which this
Lease shall be deemed amended accordingly and appropriate
adjustments made to the percentages affected by such computations),
which notice shall be conclusive between and binding upon the
parties. At the conclusion of the term, Tenant shall return the
Premises to Landlord broom clean and in as good condition as when
possession was delivered to Tenant, ordinary wear and tear
expected . See Exhibit “E”, Lease
Addendum
2.
Use
. The
Premises shall be used for general offices and for no other
purposes. Tenant shall not use or permit eh use of the Premises for
any purpose which is illegal or which creates a
nuisance.
3.
Rent
.
(a)
Tenant agrees to pay
Landlord during the full term of this Lease the monthly base rent
specified in the Schedule of Basic Lease Terms, each payment of
rent being due on the first day of each calendar month, in advance,
with no offset, claim or deduction. The first full month’s
rent shall be due and payable on the date of execution hereof. The
monthly base rent shall be adjusted from time to time as provided
in the Schedule of Basic Lease Terms.
(b)
Tenant agrees to pay
Landlord its proportionate share of the total Operating Expenses of
the Building and its amenities for each calendar year during the
term hereof as provided in the Schedule of Basic Lease Terms. The
term “Operating Expenses” shall mean all of the
Landlord’s costs and expenses incurred in operating,
maintaining, repairing and managing the building and the lands and
facilities serving it, as determined by standard accounting
practices, including by way of illustration and not limitation all
insurance premiums, landscaping, repair and maintenance expenses,
expenditures for normal replacement of personalty and equipment
serving the Building, the cost of licenses and permits, costs of
personnel employed in the operation and management of the Building
and their related benefits, and reasonable management fees. Tenant
shall contact directly with Florida Power and Light for electricity
and be solely responsible for this item. Operating expenses shall
not include depreciation, the costs incurred by Landlord for
repairs or replacements caused by casualty or condemnation and
interest and principal payment on mortgages. If the Building is not
fully occupied during a period for which Operating Expenses are to
be
determined, then
Operating Expenses shall be adjusted for such period to that amount
which they would have been had the Building been fully occupied
based on Landlord’s reasonable estimate.
(c)
Tenant agrees to pay to
Landlord its proportionate share of Taxes levied and assessed upon
the Building and its amenities for each calendar year or
portion thereof during the term. The term “Taxes” shall
include all advalorem real and personal property taxes levied and
assessed against the Building, the property upon which it is
located and all personalty used by the Landlord in the use,
operation and management thereof, together with all costs and fees,
if any, incurred by Landlord in engaging consultants, agents and/or
attorneys to contest or reduce Taxes.
(d)
Tenant’s
proportionate share of Taxes (as provided above) is payable as
follows:
(i) On the first day of
each calendar month of the Lease term, Tenant shall pay to Landlord
the amount estimated by Landlord to be Tenant’s monthly
proportionate share.
(ii) Within 120 days
following the end of each calendar year, Landlord shall furnish
with a statement or statements covering the year just expired
showing the Operating Expenses and Taxes, the amount of
Tenant’s proportionate share of the excess thereof for such
year and the payments made by Tenant with respect to such year, If
Tenant’s proportionate share is less than Tenant’s
payments so made, Tenant shall be entitled to a credit of the
difference, or if such share is greater than Tenant’s
payments, Tenant shall pay to Landlord the deficiency within thirty
(30) days after receipt of such statement. At Landlord’s
option, statements may be rendered separately for Tenant’s
proportionate share of Taxes and Operating Expenses.
(iii) The Proportionate
share of such Operating Expenses and Taxes for the calendar year in
which termination of this Lease occurs shall be adjusted by
Landlord upon termination based upon its actual and anticipated
experience for the year of termination (extended for the full
year), prorated to the date of termination. Tenant shall pay its
proportionate share of such Operating Expenses and Taxes based on
such adjustments within thirty (30) days from billing
notwithstanding the termination hereof,
(e)
Tenant shall pay all
sales and use taxes levied or assessed against the sums due
hereunder as and when said taxes are due.
(f)
All sums due under this
Lease shall be payable in United States Dollars in Fort Lauderdale,
Broward County, Florida, at the address designated for rent
payments in the Schedule of Basic Lease Terms, or at such other
address as Landlord shall hereafter designate by written notice to
Tenant. If any payment due under this Lease is not paid within
seven (7) days after its due date, Tenant agrees to pay, a late
charge equal to six percent of the amount of the then outstanding
balance due Landlord and a similar charge on the first day of each
succeeding month imposed on the amount that then remains unpaid
(including prior unpaid late charges). At Landlord’s option
an additional charge shall be payable to Landlord by Tenant to
offset the loss of use of funds caused by delays in collection by
Landlord’s bank. Payment by Tenant or receipt by Landlord of
a lesser amount than the amount then due from Tenant shall be
deemed to be payment on account of late charges, interest and then
the earliest sums due hereunder, and no endorsement or statement of
any check or any letter accompanying any payment shall result in an
accord and satisfaction. Landlord’s acceptance of such lesser
payment shall be without prejudice to the exercise of Landlord or
any right or remedy hereunder.
(g)
For purposes Of Section
467 of the Internal Revenue Code, as amended, rents and other
payments due hereunder shall be allocated as income or deduction,
as the case may be, on the basis of when the particular rent or
other payment is received by Landlord.
4.
Services
. The
Building’s normal business hours are from 7:00 A.M. to 7:00
P.M., Mondays through Fridays and 7:00 A.M. to 1:00 P.M. on
Saturdays, exclusive of usual holidays. Tenant shall have 24-hour
access into the leased Premises. The interruption of services
resulting from causes beyond Landlord’s reasonable control
shall not be deemed a default thereunder nor be construed as an
eviction, nor work an abatement of rent, nor relieve Tenant from
any obligation hereunder. If Tenant shall require any air
conditioning, electrical or other service outside of the
Building’s normal business hours or in excess of the standard
for the Building, Tenant will advise Landlord of such requirement
and shall pay the cost of such additional service (including
installation, operation, maintenance and any increase in insurance
expense resulting therefrom).
5.
Signage
. No signage
visible from outside the Premises shall be used by or placed upon
the Premises or the Building by Tenant without Landlord’s
prior written approval.
6.
Care of the
Premises . Tenant shall keep the
Premises in good, clean and sanitary condition, making all needed
repairs promptly. Tenant shall not commit or permit any waste to
the Premises. Tenant shall promptly repair any damage done to
Premises and to the Building, or any part thereof, including
replacement of damage portions or items, caused by Tenant or
Tenant’s agents, employees, invitees, or visitors. All such
work or repairs by Tenant shall be affected in compliance with all
applicable laws. If Tenant fails to make such repairs or
replacements promptly, Landlord may, as its option, make the
repairs or replacements, and Tenant shall pay the cost thereof to
the Landlord within ten (10) days of Landlord’s demand
therefore. Tenant shall not make or allow to be made any
alterations to or install any vending machines on the Premises,
without the prior written consent of Landlord. Any and all
alterations to the Premises shall become the property of Landlord
upon termination of this Lease (except for movable equipment or
furniture owned by Tenant). Landlord may, nonetheless, require
Tenant to remove any and all fixtures, equipment and other
improvements installed on the Premises. If Tenant fails to do so,
Landlord may remove the same and Tenant agrees to pay Landlord on
demand the cost of making repairs to the Premises caused by such
removal. Tenant shall not use or permit the use of the Premises for
the generation, storage, treatment, use, transportation or disposal
of any chemical, material, or substance which is regulated as toxic
or hazardous or exposure to which is prohibited, limited, or
regulated by any federal, state, county, regional, local or other
governmental authority or which, even if not so regulated, may or
could pose a hazard to the health and safety of the other tenants
and occupants of the Landlord’s property or adjacent
property. If any such chemical, material or substance is used upon
the Premises in the ordinary course of Tenant’s permitted
business, Tenant shall not use such chemical, material or substance
in a hazardous manner. In the event of any use in violation of this
provision Tenant will remove, or cause to be removed, such material
at its own expense, and will indemnify Landlord for any loss or
expense, including reasonable attorney fees, it, suffers as a
result of the violation. Tenant’s liability for such
indemnification is not limited by any exculpatory provision in this
Lease, and shall survive any cancellation or termination of this
Lease or transfer of Landlord’s interest in the
Premises.
7.
Parking
. Tenant may
use those portions of the designated parking areas serving the
Building in common with other tenants to whom similar rights are
granted on a “first-come / first-served” basis upon
payment to Landlord of the periodic parking charges established
from time to time by Landlord on a nondiscriminatory basis for all
tenants. The initial parking charges are enumerated in the Schedule
of Basic Lease Terms.
8.
Laws and
Regulations . Tenant agrees to comply
with all applicable laws, ordinances, rules and regulations of any
governmental authority having jurisdiction of the premises or
Tenant’s use thereof and the Building Rules and Regulations
and such other nondiscriminatory rules as are published from time
to time by Landlord for operation of the Building and the
facilities serving it.
9.
Entry by
Landlord . Landlord to provide
Tenant with prior notice and enter Premises with a an authorized
and/or designated employee of Tenant, Landlord may enter into and
upon any part of the Premises at all reasonable hours (and in
emergencies at all time) to inspect the condition, occupancy or use
thereof, or to show the Premises to prospective purchasers,
mortgagees, tenants or insurers, or to clean or make repairs,
alterations or additions thereto, and Tenant shall not be entitled
to any abatement or reduction of rent by reason thereof.
10.
Assignment and
Subletting . Tenant shall not
assign, sublease, transfer, pledge, or encumber this Lease or any
interest therein without Landlord’s prior written consent.
For purposes hereof the transfer of all or a controlling interest
in Tenant shall be deemed an assignment of this Lease. Any
attempted assignment, sublease or other transfer or encumbrance by
Tenant in violation of the terms and covenants of this paragraph
shall be void. Should Tenant desire to assign or sublet the
Premises (or any portion thereof) Tenant shall notify Landlord in
writing and furnish to Landlord the name and address of the
proposed assignee or subtenant together with a narrative of the
business in which the Tenant is engaged, financial statements for
the immediate prior three (3)year and the proposed agreement of
assignment or sublease. Within fifteen (15) business days of the
furnishing of such notice and other items Landlord shall either (1)
approve the request; (2) deny the request, stating with such denial
the reasons therefore, or (3) agree to sublet the Premises (or
portion thereof) from Tenant for the balance of the term of this
Lease,on the same terms and conditions as stated in the proposed
agreement of assignment or sublease, in which latter event Tenant
shall enter into the said agreement with Landlord as provided in
the proposed agreement theretofore furnished to Landlord within
thirty (30) days thereafter. Landlord shall be entitled to all
consideration in excess of the rents due hereunder given by the
assignee or subtenant to the Tenant for the assignment or
subletting, including without limitation rent overages, and no
assignment or subletting shall relieve Tenant of any
obligation
hereunder.
Landlord’s consent to a particular assignment, subletting,
transfer, pledge or encumbrnce3 shall not obviate the necessity for
landlord’s consent to any future assignment, subletting,
transfer, pledge or encumbrance, Landlord retaining the right to
consent to each and every of same.
11.
Mechanics
Liens . The Landlord’s
interest in the Premises is not and shall not be subject to liens
for improvements made by Tenant. Tenant agrees to notify every
person making improvements to the Premises of the provisions of
this paragraph, and Tenant’s failure to do so shall be a
default hereunder. Tenant will not permit any mechanic’s lien
to be filed against the Premises or the Building. In the vent any
such lien is claimed against the Premises or Building because of
work done for or materials furnished to Tenant, then Tenant shall
promptly cause same to be discharged. If Tenant fails to do so
within ten (10) days after demand, then, in addition to any other
right or remedy of Landlord, Landlord may, discharge the same. Any
amount paid by Landlord for any of the aforesaid purposes and
Landlord’s reasonable attorneys’ fees shall be paid by
Tenant to Landlord upon demand. At Landlord’s request Tenant
shall execute a memorandum of lease containing these provisions in
order to protect Landlord’s estate against such
liens.
12.
Indemnity:
Insurance . Tenant shall indemnify
and hold Landlord harmless from all claims for personal injury
and/or property damages occurring in or about the Premises or
arising from Tenant’s use or occupancy thereof or occasioned
in whole or in part by any act or omission of Tenant, its agents,
contractors and employees. Tenant shall maintain a policy or
policies of comprehensive general lia