Fillable Printable Commercial Lease Form - New York

Commercial Lease Form - New York

LEASE dated , between having a place of business at (hereinafter called "Landlord"),and , a

New York corporation having a place of business at (hereinafter called "Tenant").

W I T N E S S E T H :

1. Demise of Premises, Term and Rent. Landlord does hereby lease and demise to Tenant, and Tenant does hereby

hire and take from Landlord, subject to any ground leases and/or underlying leases and/or mortgages as hereinafter provided,

and upon and subject to the covenants, agreements, term, provisions and conditions of this Lease for the term hereinafter

stated, the portion of the store premises and the portion of the basement each more specifically shown, respectively, hatched

and cross-hatched on the plans attached hereto as Exhibits "A" and "B", said demised premises, together with all fixtures,

equipment, improvements, installations and appurtenances which at the commencement of or during the term of this Lease are

thereto attached (except items not deemed to be included therein and removable by Tenant as provided in Article 4 of this

Lease) are hereinafter called the "premises", and the plot of land on which the Building has been constructed is hereinafter

called the "Land".

The term of this Lease shall commence on (subject to postponement of said specific date as provided in Article 2

hereof) or on such earlier date as Tenant shall occupy the premises or any part thereof with the consent of Landlord for the

purpose of carrying on the normal functions of Tenant's business (such date for the commencement of the term hereof being

hereinafter called the "term commencement date") and shall end on or shall end on such earlier date upon which said term

may expire or be terminated pursuant to any of the conditions of limitation or other provisions of this Lease or pursuant to law.

The premises shall be used for the following, but not for any other purpose, namely:

Landlord agrees that Landlord will not lease any other space in the Building which is subject to Landlord's control to any

entity for any primary use which includes any use set forth in the preceding paragraph hereof but nothing contained herein shall

preclude Landlord from leasing space where any such use referred to the preceding paragraph hereof is incidental to the

primary or main use of the tenant, occupant or user thereof.

The rent reserved under this Lease for the term hereof shall be and consist of the following fixed rent, namely:

(a) for and during the period commencing on and ending on , ($ ) Dollars per annum;

(b) for and during the period commencing on and ending on , ($ ) Dollars per annum;

all such fixed rent being payable in equal monthly installments in advance, on the first day of each and every calendar month

during said term (except that Tenant shall pay the monthly installment of fixed rent for the month of on the execution

hereof), plus such additional rent and other charges as shall become due and payable hereunder, which additional rent and

other charges shall be payable as hereinafter provided; all to be paid to Landlord at is office, or such other place as Landlord

may designate, in lawful money in the Untied States of America. The monthly installments of fixed rent for the month during

which the term commencement date occurs and the month during which the term hereof expires shall each be prorated.

In addition to the foregoing, and in further consideration of Landlord entering into this Lease, upon the execution of this

Lease, Tenant shall also pay to Landlord the sum of $ . If Tenant's check or checks for such sum, or the sum referred to in

the immediately preceding paragraph hereof, shall not be honored by the bank upon which it or they are drawn for any reason

of any kind or nature whatsoever, this Lease shall be, and shall be deemed to be, without notice, immediately cancelled and

terminated and of no further force or effect and Landlord shall have no liability or obligation to Tenant under this Lease.

Provided Tenant shall not at any time be in default of any of the convents, agreements, terms, provisions or conditions

of this Lease on its part to be kept, observed and performed, the monthly installments or part thereof of fixed rent payable by

Tenant to Landlord for the period commencing on the term commencement date and ending on shall be abated; the

twelve (12) monthly installments of fixed rent payable by Tenant to Landlord for the period beginning and ending

shall each be abated by an amount equal to $ ; and, the sixty (60) monthly installments of fixed rent payable by Tenant to

Landlord for the period beginning and ending shall each be abated by an amount equal to $ .

Tenant does hereby covenant and agree promptly to pay the fixed rent, additional rent and other charges herein

reserved as and when the same shall become due and payable, without demand therefor, and without any set-off or deduction

whatsoever, and to keep and perform, and to permit no violation of, each and every of the covenants, agreements, terms

provisions and conditions herein contained on the part and on behalf of Tenant to be kept and performed.

For default in payment of additional rent or other sums or charges herein reserved or payable by Tenant, Landlord shall

have the same remedies as for a default by Tenant in the payment of fixed rent payable hereunder.

If Tenant shall fail to pay any installment of fixed rent or additional rent or other sums or charges within ten (10) days

after the same shall be due then, Tenant shall pay a late charge of $ for each $1.00 so unpaid. Nothing herein contained

shall be intended to violate any applicable law, code or regulation, and, in all instances, such late charge shall be automatically

reduced to any maximum applicable legal rate or charge. Such late charge shall be imposed monthly for each late payment

and is in addition to all other rights and remedies available to Landlord and shall not be deemed to limit any such rights or

remedies.

Tenants' obligations and responsibilities pursuant to any provision of this Lease, including the payment of any fixed rent

or additional rent or the keeping, observance or performance of any covenant, agreement, term, provision or condition of this

Lease on Tenant's part to be kept, observed or performed, shall survive the expiration or termination of the term of this Lease.

2. Occupancy.

(a) If the premises are not ready for Tenant's occupancy on the term commencement date, then this Lease shall not be

affected thereby but, in such case, such specific date shall be deemed to be postponed until the date when the premises are

ready for Tenant's occupancy and Tenant shall not have any claim against Landlord, and Landlord shall have no liability to

Tenant, by reason of any such postponement of such specific date. In the event the term commencement date shall be

postponed, the expiration date of the term of this Lease set forth in Article 1 hereof shall be extended by the number of days

equal to the number of days by which the term commencement date was so postponed and, in addition thereto, each date set

forth in clause (a) through and including (c) of said Article 1 shall likewise be extended by said number of days. In the event of

the foregoing, Tenant will, at the request of Landlord, enter into an agreement setting forth the term commencement date and

all other dates required to be modified by reason of such postponement. The parties hereto agree that this Article 2 constitutes

an express provision as to the time at which Landlord shall deliver possession of the premises to Tenant, and Tenant hereby

waives any rights to rescind this Lease which Tenant might otherwise have pursuant to Section 223a of the Real Property Law

of the State of New York or pursuant to any other law of like import now or hereafter in force.

(b) Tenant understands, and covenants and agrees, that Landlord shall not be required to perform any work or there

installations in or to the premises or the Building and Tenant further convents and agrees that the premises are leased to

Tenant, and Tenant shall accept the premises, in its "as is" condition existing on the term commencement date; provided,

however, Landlord shall deliver the premises to Tenant on the term commencement date vacant and in broom clean condition.

Tenant further understands and agrees that Landlord makes no representations as to the condition of the premises or the

Building or the suitability thereof for the use permitted hereunder. Landlord agrees that Tenant shall be permitted to use one of

the two air conditioning compressors presently being used and designated by Landlord; provided, however, Landlord makes not

warranty or representation with respect to the use or condition or suitability or feasibility of any such compressor and Landlord

shall have no obligation, responsibility or liability of any kind or nature whatsoever in connection with the compressor so used

by Tenant.

(c) Subject to the provisions of this Lease, including, but not limited to, Article 6 hereof, Tenant, at Tenant's sole cost

and expense, shall be permitted to install an air conditioning generator in the premises and Landlord will permit necessary duct

work therefor to be installed in the portion of the Building presently occupied by Landlord. Upon prior notice to Landlord, Tenant

shall be permitted to enter the portion of the Building occupied by Landlord for the purpose of maintaining and servicing said

generator provided any such entry shall be accomplished only in the presence of a representative of Landlord and shall not

interfere with or affect Landlord or Landlord's use or occupancy of said portion so occupied by Landlord.

(d) Tenant, by entering into occupancy of the premises, shall be conclusively deemed to have agreed that Landlord, up

to the time of such occupancy, had performed all of its obligations hereunder and that the premises were in satisfactory

condition as of the date of such occupancy. Landlord shall not be responsible for latent defects in the Building or the premises.

(e) Tenant covenants agrees that, subject to the covenants, agreements, terms, provisions and conditions of this

Lease including, but not limited to, Article 6 hereof, Tenant, at Tenant's sole cost and expense, shall perform all work and other

alterations and installations necessary in order to prepare the premises for Tenant's occupancy for the use permitted hereunder

including, but not limited to, the construction of demising walls.

(f) If, by reason of any of the provisions of this Lease, the fixed rent under this Lease shall commence on any day

other than the first day of a calendar month, the fixed rent for such calendar month shall be prorated.

(g) A copy of the Certificate of Occupancy covering the Building is attached hereto.

3. Use of Premises. Tenant shall not use the premises or any part thereof, or permit the premises or any part thereof

to be used, for any purpose other than the use hereinabove specifically mentioned, subject, however, to all the covenants,

agreements, terms, provisions and conditions of this Lease. Those portions, if any, of the premises which on the plan(s)

attached hereto are shown as toilets and utility areas shall be used by Tenant only for the purposes for which they are designed.

Tenant will not at any time use or occupy the premises or any part thereof, or permit the premises or any part thereof to be used

or occupied, in violation of the certificate of occupancy (temporary or final) issued for the Building and/or the premises.

Tenant shall not sue or permit the use of the premises or any part thereof in any way which would violate any of the

covenants, agreements, terms, provisions and conditions of this Lease or for any unlawful purposes or in any unlawful manner

and Tenant shall not suffer or permit the premises or any part thereof to be used in any manner or anything to be done therein

or suffer or permit anything to be brought into or kept in the premises which, in the judgment of Landlord, shall in any way

impair or tend to impair the character, reputation or appearance of the Building as a first-class office building, impair or interfere

with or tend to impair or interfere with any of the Building services or the proper and economic heating, cleaning, air

conditioning or other servicing of the Building or the premises, or impair or interfere with or tend to impair or interfere with the

use of any of the other areas of the Building by, or occasion discomfort, inconvenience or annoyance to, any of the other

tenants or occupants of the Building. Tenant shall not install any electrical or other equipment of any kind which, in the

judgment of Landlord, might cause any such impairment, interference, discomfort, inconvenience or annoyance.

Except as set forth in Article 1 hereof, Tenant will not, and will not permit anyone to, sell or traffic in any spirituous

liquors, wine, ale or beer in or from the premises or carry on any manufacturing in the premises.

If any governmental license or permit shall be required for the proper and lawful conduct of Tenant's business or other

activity carried on it the premises, Tenant, at Tenant's expense, shall duly procure and thereafter maintain such license or

permit and submit the same to inspection by Landlord. Tenant, at Tenant's expense, shall, at all times, comply with the terms

and conditions of each license or permit.

4. Fixtures, etc., Not to be Removed. All fixtures, equipment, improvements, installations and appurtenances

attached to, or built into, the premises at the commencement of or during the term hereof, whether or not furnished and

installed at the expense of Tenant or by Tenant, shall be and remain part of the premises and be deemed the property of

Landlord and shall not be removed by Tenant, except as otherwise expressly provided in this Lease. Without limiting the

generality of the next preceding sentence, all electric, plumbing, heating, sprinkler, dumbwaiter, elevator, pneumatic tube,

telephone, telegraph, communication, radio and television systems, fixtures and outlets, venetian blinds, partitions, railings,

gates, doors, vaults, stairs, paneling (including, but not limited to, display cases and cupboards recessed in paneling), molding,

shelving, radiator enclosures, cork rubber, linoleum and composition floors, and ventilating, silencing, air conditioning and

cooling equipment shall be deemed to be included in such fixtures, equipment, improvements, installations and appurtenances,

whether or not attached to or built into the premises. Anything hereinbefore in this Article 4 contained to the contrary

notwithstanding, any fixture, equipment, improvement, installation or appurtenance furnished and installed in any part of the

premises (whether or not attached thereto or built therein) at the sole expense of Tenant (and with respect to which no credit or

allowance shall have been granted to Tenant by Landlord and which was not furnished and installed in replacement of an item

which Tenant would not be entitled to remove in accordance with this Article 4) may be removed from the Building by Tenant

prior to the expiration of the term hereof and, if and to the extent requested by Landlord (either prior to or not more than 30

days after such expiration), shall be removed from the Building by Tenant prior to such expiration unless such request is made

after such expiration (or is made prior to such expiration and Tenant acting with reasonable promptness is not able to remove

same from the Building prior to such expiration), in which event the same shall be removed from the Building by Tenant with

reasonable promptness after the receipt of such request. The cost and expense of any such removal and the cost and expense

of repairing any such damage to the premises or to the Building arising from such removal shall be paid by Tenant on demand.

If any fixtures, equipment, improvement, installation or appurtenances which as aforesaid may or is required to be removed

from the Building by Tenant is not removed by Tenant from the Building within the time above specified therefor, then Landlord

(in addition to all other rights and remedies to which Landlord may be entitled at any time) may at its election deem that the

same has been abandoned by Tenant to Landlord, but not such election shall relieve Tenant of Tenant's obligation to pay the

cost and expense of removing the same from the Building or the cost or repairing damage to the premises or to the Building

arising from such removal.

All the perimeter wall of the premises, any balconies, terraces or roofs adjacent to the premises, and any space in

and/or adjacent to the premises used for shafts, stacks, pipes, vertical conveyors, mail chutes, pneumatic tubes, conduits,

ducts, electrical or other utilities, rooms containing elevator or air conditioning machines and equipment, sinks, or other similar

or dissimilar Building facilities, and the use thereof, as well as access thereto through the premises for the purposes of such use

and the operation, improvement, replacement, addition, repair, maintenance and decoration thereof, are expressly reserved to

Landlord.

5. Electric Energy and Water. Tenant, at Tenant's sole cost and expense, shall furnish through the transmission

facilities initially installed in the Building, and supply to the premises, alternating electrical energy to be used by Tenant in the

premises in such reasonable quantity as may be reasonably required by Tenant for the operation of Tenant's business from the

premises.

Tenant covenants and agrees that at all times its use of electrical energy shall not exceed the capacity of existing

feeders to the Building or the risers or wiring installations and Tenant may not use any electrical equipment which, in Landlord's

sole and exclusive opinion, will overload any such installations or will interfere with the use thereof by other tenants or

occupants of the Building or otherwise have a material or adverse effect on electrical energy service to the Building.

Landlord shall in no way be liable for any failure of or defect in the character or supply of electrical energy furnished to

the premises except for actual damage suffered by Tenant by reason of any such defect or failure resulting from the willful

gross negligence of Landlord.

In order that Landlord may at all times have all necessary information which it requires in order to maintain and protect

its equipment, Tenant agrees that it will not make any alteration or addition to the electrical equipment and/or appliances in the

premises without prior written consent of Landlord in each instance.

Tenant shall pay Landlord the cost for all water consumed in the premises and for any required pumping and heating

thereof or other charges which may be imposed by the city or other governmental authority or agency thereof based on the

quantity of water so used by Tenant and/or the charge therefor.

All meters necessary for the measurement of Tenant's consumption of electrical energy and water in the premises shall

be installed, if required, and maintained by Tenant at Tenant's sole cost and expense.

6. Various Covenants. Tenant covenants and agrees that Tenant will:

(a) throughout the term, at Tenant's expense, make all repairs, restoration and replacements in, at and to the premises

as and when the same are necessary in order to keep and maintain the premises and the fixtures and appurtenances therein in

good order, condition and repair and pay to Landlord the cost of making good any injury, damage or breakage to the Building or

the premises (including plate glass).

(b) faithfully observe and comply with the rules and regulations annexed hereto and such additional rules and

regulations as Landlord and "Owner" as such term is hereinafter defined hereafter at any time or from time to time may make

and may communicate to Tenant, which, in the judgment of Landlord of Owner, shall be necessary or desirable for the

reputation, safety, care or appearance of the Building, or the preservation of good order therein, or the operation or

maintenance of the Building, or the equipment thereof, or the comfort of tenants or others in the Building; provided, however,

that in the case of any conflict between the provisions of this Lease and any such rules or regulations, the provisions of this

Lease shall control, and provided further that nothing contained in this Lease shall be construed to impose upon Landlord any

duty or obligation to enforce the rules and regulations or the terms, covenants or conditions in any other lease as against any

other tenant and, provided further, that Landlord shall not be liable to Tenant for violation of the same by any other tenant, its

servants, employees, agents, visitors, invitees, subtenants or licensees.

therein and any lessor under any ground or underlying lease, and their representatives, to enter the premises at all reasonable

hours, for the purposes of inspection, or of making repairs, replacements or improvements in or to the premises or the Building

or equipment, or of complying with all laws, orders and requirements of governmental or other authority or of exercising any

right reserved to Landlord by this Lease (including the right, during the progress of any such repairs, replacements, or

improvements or while performing work and furnishing materials in connection with compliance with any such laws, orders or

requirements, to keep and store within the premises all necessary materials, tools and equipment).

(d) make no claims against Landlord or any lessor under any ground or underlying lease for any injury or damage to

Tenant or to any other person or for any damage to, or loss (by theft or otherwise) of, or loss of use of, any property of Tenant or

of any other person irrespective of the cause of such injury, damage or loss, unless caused by the willful gross negligence of

Landlord or Owner in the operation or maintenance of the Building, it being understood and agreed that no property other than

such as might normally be brought upon or kept in the premises for the purposes herein specified will be brought upon or kept

in the premises.

(e) make no alterations, decorations, installations, repairs, additions, improvements or replacements including, but not

limited to, demising walls, in, to or about the premises without Landlord's prior written consent, and then only by contractors or

mechanics approved by Landlord which approval of contractors and mechanics Landlord agrees will not be unreasonably

withheld or delayed. Landlord, as a condition of such consent, may impose such requirements upon Tenant for the furnishing,

by Tenant, at Tenant's sole cost and expense, of such insurance as Landlord shall determine necessary, appropriate and

desirable including, but not limited to, personal liability, property damage and workers' compensation insurance and Landlord,

any mortgagee or any ground or underlying lessor as shall be designated by Landlord shall be named as additional insured

under any such insurance. All such alterations, decorations, installations, repairs, additions, improvements or replacements

shall be done at Tenant's sole expense and at such times and in such manner as Landlord may from time to time designate.

Prior to the commencement of any such alterations, decorations, installations, repairs, additions, improvements or

replacements, Tenant shall submit to Landlord, for Landlord's approval, plans and specifications (to be prepared by and at the

expense of Tenant) of such proposed alterations, decorations, installations, repairs, additions, improvements or replacements,

in detail, satisfactory to Landlord. In no event shall any material or equipment be incorporated in or to the premises in

connection with any such alteration, decoration, installation, repair, addition, improvement or replacement which is subject to

any lien, security agreement, charge, mortgage or other encumbrance of any kind whatsoever or is subject to any conditional

sale or other similar or dissimilar title retention agreement. Any mechanic's lien field against the premises or the Building for

work claimed to have been done for, or materials claimed to have been furnished to, Tenant shall be discharged by Tenant

within 10 days thereafter, at Tenant's expense, by payment or filing the bond required by law. All alterations, decorations,

installations, repairs, additions, improvements, replacements or work done by Tenant shall at all times comply with (1) laws,

rules, orders, and regulations of governmental authorities having jurisdiction thereof, including without limitation, the American's

With Disabilities Act and all regulations issued thereunder and the Accessibility Guidelines for Buildings and Facilities issued

pursuant thereto, (2) rules and regulations of Landlord, and (3) plans and specifications prepared by and at the expense of

Tenant theretofore submitted to Landlord for Landlord's prior written approval and which Landlord shall have approved. No

structural alterations, installations, repairs, additions, improvements, replacements or work or any alterations, installations,

repairs, additions, improvements, replacement or work to any utility system in or serving the Building or the premises shall be

undertaken, started or begun by Tenant, its agents, servants or employees, until Landlord has approved such plans and

specifications; and no amendments or additions to such plans and specifications shall be made without the prior written

approval of Landlord; provided, however, Landlord's review and/or approval of such plans and specifications or amendments or

additions thereto shall not constitute a determination or acknowledgement by Landlord that such plans and specifications

comply with applicable laws, rules, orders and regulations of governmental authorities. Tenant shall be entitled to make

nonstructural alterations to the interior of the premises provided Tenant furnishes Landlord with plans and specifications

therefor, including "as built" plans and specifications, and otherwise complies with the provisions of this Lease including this

paragraph (e). The construction of demising walls by Tenant shall be subject to the prior written consent of Landlord. If

Landlord provides hoist and/or elevator service to Tenant's contractors, such service shall be provided on the same terms and

conditions as the same is provided to Landlord's contractors. Tenant agrees that it will not at any time prior to or during the term

of this Lease, either directly or indirectly, use any contractors and/or labor and/or materials if the use of such contractors and/or

labor and/or materials would or will create any difficulty with other contractors and/or labor engaged by Tenant of Landlord or

others in the construction, maintenance and/or operation of the Building or any part thereof.

(f) not violate, or permit the violation of, any condition imposed by the standard fire insurance policy issued for office

buildings in the County of , and not do anything or permit anything to be done, or keep anything or permit anything to be

kept, in the premises, which would increase the fire or other casualty insurance rate on the Building or the property therein, or

which would result in insurance companies of good standing refusing to insure the Building or any such property in amounts

and against risks as determined by Landlord.

(g) permit Landlord, at reasonable times, to show the premises to any lessor under any ground or underlying lease, or

any lessee or mortgagee, or any prospective purchaser, lessee, mortgagee, or assignee of any mortgage, of the Building and/or

the Land or of Landlord's interest therein, and their representatives, and during the period of 12 months next preceding the date

of expiration of the term hereof with respect to any part of the premises similarly show such part to any person contemplating

the leasing of all or a portion of the same.

(h) at the end of the term, quit and surrender to Landlord the premises broom-clean and in good order, condition and

repair except for ordinary wear and tear. If the last day of the term of this Lease falls on Sunday or a legal holiday, this Lease

shall expire on the business day immediately preceding.

(i) at any time and from time to time upon not less than 5 days' prior notice by Landlord to Tenant, execute,

acknowledge and deliver to Landlord, or to anyone Landlord shall designate, a statement of Tenant (or if Tenant is a

corporation, an appropriate officer of Tenant) in writing certifying that this Lease is unmodified and in full force and effect (or if

there have been modifications, that the same is in full force and effect and as modified and stating the modifications), and the

dates to which the fixed rent, additional rent, and other charges have been paid in advance, if any, and stating whether or not

Landlord is in default in performance of any covenant, agreement, term, provision or condition contained in this Lease and, if

so, specifying each such default, it being intended that any such statement delivered pursuant hereto may be relied upon by

Landlord, any lessor under any ground or underlying lease, or any lessee or mortgagee, or any prospective purchaser, lessee,

mortgagee, or assignee of any mortgage, of the Building and/or the Land or of Landlord's interest therein.

(j) indemnify, and save harmless, Landlord and any mortgagee and any lessor any under ground or underlying lease,

and their respective officers, directors, contractors, agents and employees, from and against any and all liability (statutory or

otherwise), claims, suits, demands, damages, judgments, costs, interest and expenses (including, but not limited to, counsel

fees and disbursements incurred in the defense of any action or proceeding), to which they may be subject or which they may

suffer by reason of, or by reason of any claim for, any injury to, or death of, any person or persons or damage to property

(including any loss of use thereof) or otherwise arising from or in connection with the use of or from any work, installation or

thing whatsoever done (other than by Landlord or its contractors or the agents or employees of either) in the premises prior to,

during, or subsequent to, the term of this Lease or arising from any condition of the premises due to or resulting from any

default by Tenant in the performance of Tenant's obligations under this Lease or from any act, omission or negligence of Tenant

or any of Tenant's officers, directors, agents, contractors, servants, employees, subtenants, licensees or invitees.

7. Assignment, Mortgaging, Subletting, etc.

(a) Tenant covenants and agrees, for Tenant and its successors, assigns and legal representatives, that neither this

Lease nor the term and estate hereby granted, nor any part hereof of thereof, will be assigned, mortgaged, pledged,

encumbered or otherwise transferred (whether voluntarily, involuntarily, by operation of law, or otherwise), and that neither the

premises, nor any part thereof, will be encumbered in any manner by reason of any act or omission on the part of Tenant, or will

be used or occupied, or permitted to be used or occupied, or utilized for desk space or for mailing privileges or as a concession,

by anyone other than Tenant, or for any purpose other than as hereinbefore set forth, or will be sublet, without the prior written

consent of Landlord in every case and any attempt thereat shall be void any of no force or effect. For the purposes of this

Lease, (i) the transfer or transferee or sale or sales (in either one or a series of transactions) of fifty (50%) percent or more of

the capital stock of Tenant, if Tenant is a corporation or fifty (50%) percent or more of the ownership interests of Tenant, if

Tenant is a partnership or (ii) a merger or consolidation of Tenant into or with an other corporation or business entity shall, in

each instance referred to in the preceding clauses (i) and (ii), be deemed to be an assignment of this Lease requiring the prior

written consent of Landlord as herein set forth.

If this Lease be assigned or if the premises or any part thereof by sublet or occupied by anybody other than Tenant,

Landlord may, after default by Tenant, collect rent from the assignee, subtenant or occupant, and apply the net amount

collected to the rent herein reserved, but no such assignment, subletting, occupancy or collection shall be deemed a waiver or

any of Tenant's covenants contained in this Article 7 or elsewhere in this Lease or the acceptance of the assignee, subtenant or

occupant as Tenant, or a release of Tenant as sub-lessor or assignor from the further performance by Tenant of the covenants,

agreements, terms, provisions and conditions of this Lease on the part of the tenant hereunder to be kept, performed or

observed. Tenant's liability under this Lease, in the event of an assignment, shall not at any time be released, relieved or

discharged by reason of Landlord's consent to such assignment nor shall Tenant at any time be released, relieved or discharged

of any such obligations of the parties to this Lease or by any stipulation extending any time for performance hereunder or

Landlord's waiver of performance of any obligation hereunder or Landlord's failure to enforce any obligation set forth in this

Lease. If this Lease be assigned or if all or any portion of the premises be sublet, the assignee or subtenant, as the case may

be, shall have no right, and shall not be entitled, to exercise any option contained in this Lease which may be exercised by

Tenant.

(b) Notwithstanding anything to the contrary contained in this Article 7, and so long as Tenant is not in default of any of

the covenants, agreements, terms, provisions and conditions of this Lease on its part to be kept, observed and performed,

Tenant may, in connection with (i) the sale of all of the capital stock of Tenant, if Tenant is a corporation, or of all of the

ownership interests of Tenant, if Tenant is a partnership, or (ii) a merger or consolidation of Tenant into or with any other

corporation or business entity or (iii) the sale of all or substantially all of the assets of Tenant, assign this Lease, with Landlord's

prior written consent which shall not be unreasonably withheld or delayed, provided that:

proposed assignment agreement, and satisfactory information with respect to the nature and character of the business of the

proposed assignee together with current financial information of the proposed assigned certified by a certified public accountant

and references, including banking references, satisfactory to Landlord;

(d) in the judgment of Landlord, the proposed assignee is financially responsible with respect to its proposed

obligations under the proposed assignment agreement and is of a character and reputation, and engaged in a business, which

is in keeping with the standards of the Building;

(e) the premises shall be used only for the purpose set forth in Article 1 hereof;

(f) an executed duplicate original, in form satisfactory to Landlord for review by Landlord's counsel, of such

assignment agreement shall be delivered to Landlord at least thirty (30) days prior to the effective date thereof. Tenant will also

deliver to Landlord, at least thirty (30) days prior to the effective date thereof, an assumption agreement in form satisfactory to

Landlord wherein the assignee agrees to assume all of the covenants, agreements, terms, provisions and conditions of this

Lease to be kept, observed and performed by Tenant hereunder and which provides that Tenant named herein and such

assignee shall, after the effective date of such assignment, be jointly and severally liable for the performance of all of the

convents, agreements, terms, provisions and conditions of this Lease;

(g) each assignment shall be subject and subordinate to all of the covenants, agreements, terms, provisions and

conditions of this Lease and the "Prime Lease" as such term is hereinafter defined; and

(h) Assignee shall deposit with Landlord an amount equal to ( ) months of the fixed rent then in effect; and

(i) Tenant covenants and agrees that, notwithstanding any assignment and/or the acceptance of rent or additional rent

by Landlord from any assignee, Tenant shall and will remain fully liable for the payment of the rent and additional rent due and

to become due hereunder and for the performance of all the covenants, agreements, terms, provisions and conditions

contained in this Lease and Guaranty on the part of Tenant to be kept, observed and performed, ("Obligation") provided,

however, that if Tenant shall timely have complied with all of the conditions set forth in this Article 7 and Landlord has approved

(in writing) the proposed assignee, Tenant shall be released from said Obligations, effective upon the effective date of the

assignment of this Lease.

The listing of any name other than that of Tenant, whether on the doors of the premises, on the Building directory, or

otherwise, shall not operate to vest any right or interest in this Lease or in the premises or to be deemed to be the written

consent of Landlord mentioned in this Article 7, it being expressly understood that any such listing is a privilege extended by

Landlord revocable at will by written notice to Tenant.

8. Changes or Alterations by Landlord. Landlord reserves the right to make such changes, alterations, additions,

improvements, repairs or replacements in or to the Building (including the premises) and the fixtures and equipment thereof, as

well as in the street entrances, halls, passages, tunnels, elevators, escalators, stairways and other parts thereof, and to erect,

maintain and use pipes, ducts and conduits in and through the premises, all as Landlord may deem necessary, appropriate or

desirable; provided, however, that there be no unreasonable obstruction of the means of access to the premises or

unreasonable interference with the use of the premises. Nothing contained in this Article 8 shall be deemed to relieve Tenant of

any duty, obligation or liability of Tenant with respect to making any repair, replacement or improvement or complying with any

law, order or requirement or any governmental or other authority. Landlord reserves the right to name the Building and to

change the name or address of the Building at any time and from time to time. Neither this Lease nor any use by Tenant shall

give Tenant any right or easement to the use of any door or any passage or any tunnel or any concourse or any plaza

connecting the Building with any other building or to any public convenience, and the use of such doors, passages, tunnels,

concourses and Plazas and of such conveniences may without notice to Tenant be regulated or discontinued at any time and

from time to time by Landlord without Landlord incurring any liability to Tenant therefor and without affecting the obligations of

Tenant under this Lease.

If at any time any windows of the premises are darkened or obstructed incident to or by reason of repairs,

replacements, maintenance and/or cleaning in, on, to or about the Building or any part or parts thereof or otherwise or are

temporarily or permanently closed, Landlord shall not be liable for any damage Tenant may sustain thereby and Tenant shall not

be entitled to any compensation therefor nor abatement of rent nor shall the same release Tenant from its obligations hereunder

nor constitute an eviction.

There shall be no allowance to Tenant for a diminution of rental value and no liability on the part of Landlord by reason

of inconvenience, annoyance or injury to business arising from Landlord, Tenant or others making any changes, alterations,

additions, improvements, repairs or replacements in or to any portion of the Building or the premises, or in or to fixtures,

appurtenances or equipment thereof, and no liability upon Landlord for failure of Landlord or others to make any changes,

alterations, additions, improvements, repairs or replacements in or to any portion of the Building or the premises, or in or to the

premises, or in or to the fixtures appurtenances or equipment thereof.

9. Damage by Fire, etc. If any part of the premises shall be damaged by fire or other casualty, Tenant shall give

prompt written notice thereof to Landlord and Landlord shall proceed with reasonable diligence subsequent to the collection by

Landlord of insurance proceeds, and in a manner consistent with the provisions of any underlying lease and any underlying

mortgage, to repair such damage, and if any part of the premises shall be rendered untenantable by reason of such damage,

the annual fixed rent payable hereunder, to the extent that such fixed rent relates to such part of the premises and such

abatement is in excess of the annual rate of any other existing abatement of fixed rent relating thereto under any other

covenant, agreement, term, provision or condition of this Lease, shall be abated for the period from the date of such damage to

the date when such part of the premises shall have been made tenantable or to such earlier date upon which the full term of

this Lease with respect to such part of the premises shall expire or terminate, unless such fire or other casualty shall have

resulted from the negligence of Tenant or the employees, licensees or invitees of Tenant. Landlord shall not be liable for any

inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or the repair

thereof. Tenant understands that Landlord will not carry insurance of any kind on Tenant's property, to wit, Tenant's goods,

furniture or furnishings or any fixtures, equipment, improvements, installations or appurtenances removable by Tenant as

provided in this Lease, and that the Landlord shall not be obligated to repair any damage thereto or replace the same.

If substantial alteration or reconstruction of the Building shall, in the opinion of Landlord, be required as a result of

damage by fire or other casualty (whether or not the premises shall have been damaged by such fire or other casualty), then

this Lease and the term and estate hereby granted may be terminated by Landlord giving to Tenant within 90 days after the

date of such damage written notice specifying a date, not less than 30 days after the giving of such notice, for such termination.

In the event of the giving of such notice of termination, this Lease and the term and estate hereby granted shall expire as of the

date specified therefor in such notice with the same effect s if such date were the date hereinbefore specified for the expiration

of the full term of this Lease, and the fixed rent and additional rent payable hereunder shall be apportioned as of such date of

termination, subject to abatement, if any, as and to the extent above provided. In the event Landlord shall not give such notice

of termination, Tenant's obligation to pay all rent and additional rent due and to become hereunder shall continue for so long as

Tenant's rent insurance policy (as required under Article 10(b) below) shall be in effect or for the period of nine (9) months from

the date of such damage, whichever is longer.

Notwithstanding anything to the contrary contained herein, if at the time of the damage or destruction the premises

shall in the Tenant's opinion reasonably exercised be prospectively untenantable for 12 months or more, Tenant shall have the

right, within 10 days after date of damage, to elect to cancel the Lease by giving written notice to Landlord, which notice shall

specify the date of cancellation not earlier than 30 days following the giving of such notice. Such cancellation shall otherwise

be of no effect upon the covenants and agreements of this Lease to be kept and observed by the Tenant, and Tenant shall not

be released or relieved of any liability or obligation theretofore accrued or incurred or outstanding or unsatisfied as of the date

of such cancellation.

Each party agrees to endeavor to have included in each of its insurance policies (insuring the Building and Landlord's

property therein, in the case of Landlord, and insuring Tenant's Property in the premises, in the case of Tenant, against loss,

damage of destruction by fire or other casualty) a waiver of the insurer's right of subrogation against the other party and against

all other tenants in the Building, or, if such waiver should be unobtainable or unenforceable, (a) an express agreement that such

policy shall not be invalidated if the assured waives the right of recovery against any party responsible for a casualty covered

by the policy before the casualty or (b) any other form of permission for the release of the other party. If such waiver,

agreement or permission shall not be, or shall cease to be, obtainable (i) without additional charge, or (ii) at all, then the insured

party shall so notify the other party promptly after learning thereof. In case such waiver, agreement, or permission can be

obtained at additional charge, if the party so notified shall so elect and shall pay the insurer's charge therefor, such waiver,

agreement or permission shall be included in the policy.

Each party hereby releases the other party, and Tenant hereby releases all other tenants in the Building, with respect to

any claim (including a claim for negligence) which it might otherwise have against the other party (or, in the case of Tenant,

against all such other tenants) for loss, damages with respect to its property occurring during the term of this Lease to the

extent to which it is insured under a policy or policies containing a waiver of subrogation or permission to release liability, as

provided in the preceding paragraph. If, notwithstanding the recovery of insurance proceeds by either party for loss, damage or

destruction of its property, the other party is liable to the first party with respect thereto or is obligated under this Lease to make

replacement, repair or restoration or payment, then, provided the first party's right of full recovery under its insurance policies is

not thereby prejudiced or otherwise adversely affected, the amount of the net proceeds of the first party's insurance against

such loss, damage or destruction shall be offset against the second party's liability to the first party therefor, or shall be made

available to the second party to pay for replacement, repair of restoration, as the case may be. Nothing contained in this

paragraph shall be deemed to relieve either party of any duty imposed elsewhere in this Lease to repair, restore or rebuild or to

nullify any abatement of rents provided for elsewhere in this Lease.

This Lease shall be considered an express agreement governing any case of damage to or destruction of the Building

or any part thereof by fire or other casualty, and Section 227 of the Real Property Law of the State of New York providing for

such a contingency in the absence of express agreement, and any other law of like import now or hereafter in force, shall have

no application in such case.

10. Insurance. Tenant, at its own expense, shall maintain, for the benefit of Landlord and Tenant and any mortgagee

and any lessor under any ground or underlying lease:

(a) insurance covering the premises and equipment therein against loss or damage by fire and such risks as are

customarily included in extended coverage endorsements attached to fire insurance policies covering comparable property in

the vicinity of the premises including vandalism and malicious mischief, war risk (when obtainable), atomic bomb (when

obtainable), in an amount sufficient to prevent the assured from becoming a co-insurer within the terms of the applicable

policies, but in any event in an amount not less than the full replacement value thereof, or the amount required under any

mortgage to which this Lease is subject, whichever is greater,

(b) rent insurance in an amount equal to the fixed net rent and additional rent payable under this Lease for as long as

a period as Tenant is able to secure not to exceed one year, and

insurable hazards (including but not limited to war risk insurance when obtainable) as Landlord or such mortgagee shall

determine.

The term "full replacement value", as use herein shall mean the cost of actual replacement (excluding foundation and

excavation costs and cost of underground flues, pipes or drains) without provision for physical depreciation, and said "full

replacement value" shall be determined from time to time, at Landlord's request, but at Tenant's expense, not more frequently

than once every two years, by an appraiser for any of insurance companies issuing the policies referred to in subdivisions (a) or

(c) hereinabove set forth. Insurance in the amount set forth in subdivision (a) shall be carried if same is issued regularly for

comparable buildings by licensed insurance companies in New York State and, if same is not so regularly issued, Tenant shall

obtain the closest type of protective insurance then available or, at Landlord's sole election, Landlord may obtain such "full

replacement value" coverage and Tenant shall pay any additional premium therefor.

Tenant shall not carry any separate insurance of the same character required by this Article unless Landlord and any

mortgagee and any lessor under any ground or underlying lease shall be named as assureds with loss payable as interest may

appear. However, Tenant may carry insurance, solely for its own account and benefit, insuring against loss of all or part of its

leasehold estate hereunder.

Tenant, at its own expense, shall maintain for the mutual benefit of Landlord, Tenant, Owner and any mortgagee and

any lessor under any ground or underlying lease, general public liability insurance against claims for bodily injury, death or

property damage occurring in, on or about the premises and any adjoining sidewalk, curb or vault (including, without limitation,

bodily injury, death or property damage resulting directly or indirectly from any change, alteration, improvement or repair

thereof) with such limits as Landlord from time to time may require for bodily injury or death to any one person and for bodily

injury or death to any number of persons arising out of one accident and for property damage.

Tenant at its own expense, shall also maintain for the mutual benefit of Landlord, Tenant and any mortgagee and any

lessor under any ground or underlying lease, single limit coverage of ($ ) Dollars for bodily injury or death to any

one person or any number of persons arising out of one accident and for property damage as of the date hereof.

The insurance required under this Article shall be effected by valid and enforceable policies issued by insurance

companies licensed to do business in the State of New York and approved in writing by Landlord and shall set forth the

indemnity referred to in paragraph (j) of Article 6 hereof. Any insurance policy or policies under this Article shall cover only the

premises and not any other properties owned, operated or leased by Tenant.

At the commencement of the term of this Lease and thereafter, not less than thirty (30) days prior to the expiration date

or the expiring policies theretofore furnished pursuant to this Article, originals of such policies or renewal policies, as the case

may be, shall be delivered by Tenant to Landlord with proof of payment of premium thereof. However, if the premium under

any policy is payable in installments, Tenant shall furnish, simultaneously with the delivery of the policy, proof of payment of the

current installment, and thereafter Tenant shall furnish to Landlord proof of payment of each subsequent installment within five

(5) days after it becomes due. If the premiums are covered by a mortgage to which this Lease is subject, originals of the

policies for the insurance required hereunder shall be delivered to the mortgagee, and, if obtainable, duplicates thereof, and if

not obtainable, certificates thereof shall be delivered to Landlord.

All policies of insurance required under this Article shall name Landlord, Tenant and any mortgagee and any lessor

under any ground or underlying lease, as the assureds, as their respective interests may appear, and the policies for the

insurance required under subdivisions (a) and (c) hereinabove set forth also shall be payable, under a standard mortgagee

clause, without contribution, to the holder of any mortgage covering the premises. Each policy of insurance required under this

Article, to the extent obtainable, shall contain an agreement by the insurer that it will not be cancelled without at least thirty (30)

days' prior written notice to Landlord and the insured holder of any mortgage covering the premises and that no act or omission

of any insured party (including mortgagees) named therein shall serve to invalidate, cancel or release or relieve the insurer

thereunder from any liability which it may have to any other insured party so named. If such agreement cannot be obtained

with respect to any policy, Tenant shall notify Landlord, in writing, to such effect and Tenant shall accept an insurer named by

Landlord who will consent to include such agreement in like policy provided that the inclusion thereof does not require Tenant to

pay any substantial additional premium.

The loss, if any, under policies provided for herein (other than a loss under the insurance required by subdivision (b)

which shall be adjusted by and paid to Landlord) shall be adjusted by and paid to Landlord or any mortgagee. All insurance

policies, to the extent reasonably obtainable, shall provide that the loss, if any thereunder, shall be adjusted and paid as

provided in this Article.

11. Condemnation. In the event that the whole of the premises shall be lawfully condemned or taken in any manner

for any public or quasi-public use, this Lease, and the term and estate hereby granted, shall forthwith cease and terminate as of

the date of vesting of title. In the event that only a part of the premises shall be so condemned or taken, then, effective as of

the date of vesting of title, the fixed rent hereunder shall be abated in an amount thereof apportioned accordingly to the area of

the premises so condemned or taken. In the event that only a part of the Building shall be so condemned or taken, then (a)

Landlord (whether or not the premises be affected) may, at Landlord's option, terminate this Lease and the term and estate

hereby granted as of the date of such vesting of title by notifying Tenant in writing of such termination within 60 days following

the date on which Landlord shall have received notice of vesting of title, or (b) if such condemnation or taking shall be of a

substantial part of the premises, Tenant may, at Tenant's option, by delivery of notice in writing to Landlord within 60 days

following the date on which Tenant shall have received notice of vesting of title, terminate this Lease and the term and estate

hereby granted as of the date of vesting of title; provided, however, if neither Landlord nor Tenant elects to terminate this

Lease, as aforesaid, this Lease shall be and remain unaffected by such condemnation or taking, except that the fixed rent

payable hereunder shall be abated to the extent, if any, hereinbefore provided in this Article 11. In the event that only a part of

the premises shall be so condemned or taken and this Lease and the term and estate hereby granted are not terminated as

herein before provided, Landlord will, with reasonable diligence and at its expense, restore the remaining portion of the

premises as nearly as practicable to the same condition as it was in prior to such condemnation or taking.

In the event of their termination in any of the cases hereinbefore provided, this Lease and the term and estate hereby

granted shall expire as of the date of such termination with the same effect as if that were the date hereinbefore set for the

expiration of the term of this Lease, and the fixed rent and additional rent payable hereunder shall be apportioned as of such

date.

In the event of any condemnation or taking hereinbefore mentioned of all or a part of the Building, Landlord shall be

entitled to receive the entire award in the condemnation proceeding, including any award made for the value of the estate

vested by this Lease in Tenant, and Tenant hereby expressly assigns to Landlord any and all right, title and interest of Tenant

now or hereafter arising in or to any such award or any part thereof, and Tenant shall be entitled to receive no part of such

award.

It is expressly understood and agreed that the provisions of this Article 11 shall not be applicable to any condemnation

or taking for governmental occupancy for a limited period.

12. Compliance with Laws. Tenant, at Tenant's expense, shall comply with all laws and ordinances, and all rules,

orders and regulations of all governmental authorities and of all insurance bodies, at any time duly issued or in force, applicable

to the premises or any part thereof or to Tenant's use thereof (including, without limitation, the Americans With Disabilities Act

and all regulations issued thereunder and the Accessibility Guidelines for Buildings and Facilities issued pursuant thereto),

except that Tenant shall not hereby be under any obligation to comply with any law, ordinance, rule, order or regulation requiring

any structural alteration of or in connection with the premises, unless such alteration is required by reason of a condition which

has been created by, or at the instance of, Tenant, or is attributable, directly or indirectly, to the use or manner of use to which

Tenant puts the premises, or is required by reason of a breach of any of Tenant's covenants and agreements hereunder. Where

any structural alteration of or in connection with the premises is required by any such law, ordinance, rule, order or regulation,

and, by reason of the express exception hereinabove contained, Tenant is not under any obligation to make such alteration,

then Landlord shall have the option of making such alteration and paying the cost thereof, or of terminating this Lease and the

term and estate hereby granted by giving to Tenant not less than 30 days' prior written notice of such termination; provided,

however, that if within 15 days after the giving by Landlord of its notice of termination as aforesaid, Tenant shall give written

notice to Landlord stating that Tenant elects to make such alteration at the expense of Tenant, then such notice of termination

shall be ineffective provided that Tenant, at Tenant's expense, shall, concurrently with the giving of such notice to Landlord,

execute and deliver to Landlord Tenant's written undertaking, with a surety and in form and substance satisfactory to Landlord,

obligating Tenant to promptly and duly make such alteration in a manner satisfactory to Landlord and to save Landlord

harmless from any and all costs, expenses, penalties and/or liabilities (including, but not limited to, accountants' and attorneys'

fees) in connection therewith or by reason thereof; and Tenant covenants and agrees that, after so electing to make any such

alteration, Tenant will, at Tenant's expense, and in compliance with all the covenants, agreements, terms, provisions and

conditions of this Lease, including, but not limited to, subparagraph (e) of Article 6 hereof, make such alteration and Tenant, at

Tenant's expense, will promptly and duly perform all covenants, conditions and provisions of such undertaking and that all such

covenants, conditions, and provisions of such undertaking shall be deemed to constitute covenants, condition and provisions of

this Lease to be kept or performed on the part of Tenant with the same force and effect as if the same had been set forth

herein.

In the event that a notice of termination shall be given by the Landlord under the provisions of this Article 12 and such

notice shall not become ineffective as hereinbefore provided, this Lease and the term and estate hereby granted shall expire as

of the date specified therefor in such notice with the same effect as if that were the date hereinbefore set for the expiration of

the term of this Lease, and the fixed rent and additional rent payable hereunder shall be apportioned as of such date of

termination.

13. Accidents to Plumbing and Other Systems. Tenant shall give to Landlord prompt written notice of any damage to,

or defective condition in, any part or appurtenance of the Building's plumbing, electrical, heating, air conditioning or other

similar or dissimilar system serving, located in, or passing through, the premises and the damage or defective condition shall

be remedied by Landlord with reasonable diligence, but if such damage or defective condition was caused by, or resulted from

the use or manner of use by, Tenant or by the employees, licensees or invitees of Tenant, the cost of the remedy thereof shall

be paid by Tenant as additional rent promptly upon receipt of Landlord's bill therefor. Tenant shall not be entitled to claim any

damage arising from any such damage or defective condition unless the same shall have been caused by the willful gross

negligence of Landlord in the operation or maintenance of the Building and the same shall not have been remedied by Landlord

with reasonable diligence after written notice thereof from Tenant to Landlord; nor shall Tenant be entitled to claim any eviction

by reason of any such damage or defective condition.

14. Subordination. (a) This Lease is subject and subordinate in all respects to all ground leases and/or underlying

leases now or hereafter covering the real property of which the premises form a part and to all mortgages which may now or

hereafter be placed on or affect such leases and/or real property, and/or Landlord's interest therein, and to each advance made

and/or hereafter to be made under any such mortgages, and to all renewals, additions, modifications, consolidations,

replacements, spreaders and extensions thereof and all substitutions of and for such ground leases and/or underlying leases

and/or mortgages. This subparagraph (a) shall be self-operative and no further instrument of subordination shall be required.

In confirmation of such subordination, Tenant shall execute and deliver promptly any certificate that Landlord and/or mortgagee

and/or the lessor under any ground or underlying lease and/or their respective successors in interest may request. Tenant

hereby constitutes and appoints Landlord and/or any mortgagee and/or the lessor under any ground or underlying lease and/or

their respective successors in interest Tenant's attorney-in-fact to execute and deliver any such certificate or certificates for and

on behalf of Tenant.

(b) Without limitation of any of the provisions of this Lease, if at any time during the term of this Lease, Landlord shall

be the holder of a leasehold estate covering the real property of which the premises form a part, and if such leasehold estate

shall terminate or be terminated for any reason, Tenant agrees, at the election and upon demand of any owner of the real

property of which the premises form a part, or of any mortgagee in possession thereof, or of any holder of a leasehold hereafter

affecting the real property of which the premises form a part, to attorn, from time to time, to any such owner, mortgagee or

holder, upon the terms and conditions set forth herein for the remainder of the term demised in this Lease. The foregoing

provisions shall inure to the benefit of any such owner, mortgagee or holder, shall apply to the tenancy of Tenant

notwithstanding that this Lease may terminate upon the termination of any such leasehold estate, and shall be self-operative

upon any such demand, without requiring any further instrument to give effect to said provisions. Tenant, however, upon

demand of any such owner, mortgagee or holder, agrees to execute, from time to time, an instrument in confirmation of the

foregoing provisions, satisfy to such owner, mortgagee or holder, in which Tenant shall acknowledge such attornment and shall

set forth the terms and conditions of its tenancy, which shall be the same as those set forth herein and shall apply for the

remainder of the term originally demised in this Lease. Nothing contained in this subparagraph (b) shall be construed to impair

any right, privilege or option of any such owner, mortgagee or holder.

"mortgagee(s)" as used in this Lease shall include any mortgagee or any trustee under a deed of trust. The term "mortgagor(s)"

as used in this Lease shall include any mortgagor or any grantor under a deed of trust.

15. Notices. Any notice, consent, approval, request, bill, demand or statement hereunder by either party to the other

party shall be in writing and shall be deemed to have been duly given when mailed if sent by registered or certified mail. return

receipt requested addressed to such other party, which address for Landlord shall be and for Tenant shall be the premises

(or Tenant's address as hereinbefore set forth if mailed prior to Tenant's occupancy of the premises), or if the address of such

other party for such notices, consents, approvals, requests, bills, demands or statements shall have been duly changed as

hereinafter provided, if mailed, as aforesaid, to such other party at such changed address. Either party may at any time change

the address for such notices, consents, approvals, requests, bills, demands or statements by delivering or mailing, as aforesaid,

to the other party a notice stating the change and setting forth the changed address. If the term "Tenant" as used in this Lease

refers to more than one person, any notice, consent, approval, request, bill, demand or statement given as aforesaid to any one

of such persons shall be deemed to have been duly given to Tenant. Notwithstanding the foregoing, bills and statements by

Landlord to Tenant for fixed rent, additional rent or other sums or charges payable by Tenant to Landlord may be delivered

personally or sent by regular mail.

16. Conditions of Limitation. This Lease and the term and estate hereby granted are subject to the limitation that:

(a) in case Tenant shall make an assignment of its property for the benefit of creditors or shall file a voluntary petition

under any bankruptcy or insolvency law, or an involuntary petition under any bankruptcy or insolvency law shall be filed against

Tenant and such involuntary petition is not dismissed within 60 days after the filing thereof,

(b) in case a petition is filed by or against Tenant under the Reorganization provisions of the United States Bankruptcy

Act or under the provisions of any law of like import, unless such petitioner under said Reorganization provisions be one filed

against Tenant which is dismissed within 60 days after its filing,

the provisions of any law of like import,

(d) in case a permanent receiver, trustee or liquidator shall be appointed for Tenant or of or for the property of Tenant,

and such receiver, trustee or liquidator shall not have been discharged within 60 days from the date of his appointment,

(e) in case Tenant shall default in the payment of any fixed rent or additional rent or any other sum or charge payable

hereunder by Tenant to Landlord on any date upon which the same becomes due,

(f) in case Tenant shall default in the due keeping, observing or performance of any covenant, agreement, term,

provision or condition of this Lease on the part of Tenant to be kept, observed or performed (other than a default of the

character referred to in subparagraph (e) of this Article 16), and if such default shall continue and shall not be remedied by

Tenant within 10 days after Landlord shall have given to Tenant a written notice specifying the same, or, in the case of such a

default which for causes beyond Tenant's control cannot with due diligence be cured within said period of 10 days, if Tenant (i)

shall not, promptly upon the giving of such notice, advise Landlord in writing of Tenant's intention to duly institute all steps

necessary to remedy such default, (ii) shall not duly institute and thereafter diligently prosecute to completion all steps

necessary to remedy the same, or (iii) shall not remedy the same within a reasonable time after the date of the giving of said

notice by Landlord,

(g) in case any event shall occur or any contingency shall arise whereby this Lease or the estate hereby granted or the

unexpired balance of the term hereof would, by operation of law or otherwise, devolve upon, or pass to, any person, firm,

association or corporation other than Tenant except as expressly permitted under Article 7 hereof, or whenever Tenant shall

desert or abandon the premises or the same shall become vacant (whether the keys are surrendered or not an whether the rent

be paid or not), or

(h) in case any other lease held by Tenant from Landlord shall expire and terminate (whether or not the term thereof

shall then have commenced) as a result of the default of Tenant thereunder or of the occurrence of an event as therein

provided (other than by expiration of the fixed term thereof or pursuant to a cancellation or termination option therein

contained), then in any of said cases Landlord may give to Tenant a notice of intention to end the term of this Lease at the

expiration of 3 days from the date of the giving of such notice, and, in the event that such notice is given, this Lease and the

term and estate hereby granted (whether or not the term shall theretofore have commenced) shall expire and terminate upon

the expiration of said 3 days with the same effect as if that day were the date hereinbefore set for the expiration of the term of

this Lease, but Tenant shall remain liable for damages as provided in Article 18 hereof. If the term "Tenant", as used in this

Lease, refers to more than one person, then, as used in subparagraphs (a), (b), (c), (d) and (h) of this Article 16, said term shall

be deemed to include all of such persons or any one of them,; if any of the obligations of Tenant under this Lease is

guaranteed, the term "Tenant", as used in said subparagraphs, shall be deemed to include also the guarantor or, if there be

more than one guarantor, all or any one of them; and if this Lease shall have been assigned, the term "Tenant", as used in said

subparagraphs, shall be deemed to include the assignee and the assignor or either of them under any such assignment unless

Landlord shall, in connection with such assignment, release the assignor from any further liability under this Lease, in which

event the term "Tenant", as used in said paragraph, shall not include the assignor so released.

17. Re-Entry by Landlord. If Tenant shall default in the payment of any fixed rent or additional rent or any other sum or

charge payable hereunder by Tenant to Landlord on any date upon which the sum becomes due, or if this Lease shall expire as

in Article 16 hereof provided, Landlord of Landlord's agents and servants may immediately, or at any time thereafter, re-enter

into or upon the premises, or any part thereof, in the name of the whole, either by summary dispossess proceedings or by any

suitable action or proceeding at law, or by force or otherwise, without being liable to indictment, prosecution or damages

therefor, and may repossess the same, and may remove any persons therefrom, to the end that Landlord may have, hold and

enjoy the premises again as and of its first estate and interest therein. The words "re-enter", "re-entry" and "re-entered" as used

in this Lease are not restricted to their technical legal meanings. In the event of any termination of this Lease under the

provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of this Article 17 or

in the event of the termination of this Lease (or of re-entry) by or under any summary dispossess or other proceeding or action

or any provision of law, Tenant shall thereupon pay to Landlord the fixed rent, additional rent and any other sum or charge

payable hereunder by Tenant to Landlord up to the time of such termination of this Lease, or of such recovery of possession of

the premises by Landlord, as the case may be, and shall also pay to Landlord damages as provided in Article 18 hereof.

In the event of a breach of threatened breach on the part of the Tenant with respect to any of the covenants,

agreements, terms, provisions or conditions on the part of or on behalf of Tenant to be kept, observed or performed, Landlord

shall also have the right of injunction. The specified remedies to which Landlord may resort hereunder are cumulative and are

not intended to be exclusive of any other remedies or means of redress to which Landlord may lawfully be entitled at any time,

and Landlord may invoke any remedy allowed at law or in equity as if specific remedies were not herein provided for.

In the event of (a) the termination of this Lease under the provisions of Article 16 hereof, (b) the re-entry of the

premises by Landlord under the provisions of this Article 17, or (c) the termination of this Lease (or re-entry) by or under any

summary dispossess or other proceeding or action or any provision of law by reason of default hereunder on the part of Tenant,

Landlord shall be entitled to retain all monies, if any paid by Tenant to Landlord, whether as advance rent, security or otherwise,

but such moneys shall be credited by Landlord against any fixed rent, additional rent or any other sum or charge due from

Tenant at the time of such termination or re-entry or, at Landlord's option, against any damages payable by Tenant under Article

18 hereof or pursuant to law.

18. Damages. In the event of any termination of this Lease under the provisions of Article 16 hereof or in the event

that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this

Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will

pay to Landlord as damages, at the election of Landlord, either:

(a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the

case may be, represents the then value of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under

Article 24 hereof which would have been paid hereunder by Tenant had this Lease not so terminated, for the period

commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with

the date hereinbefore set for the expiration of the full term granted, over (2) the aggregate rental value of the premises for the

same period, or

(b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would

have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon

the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the

expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so)

shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually

received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when

received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating

this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting,

including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or

dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it

being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this

Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums

payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages

pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents

are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be

re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent

received from such re-letting and of the expenses of re-letting.