Lease between BigString, as Tenant, and Walter Zimmerer & Son, as Landlord, dated February 3, 2009, for the premises located at 157 Broad Street, Suite 109, Red Bank, New Jersey 07701

 

 

 

payment of said rent, or any installment thereof, at the times and in the manner above provided, and if the same shall remain in default for ten days after becoming due, or if the Tenant shall be dispossessed for non-payment of rent, or if the leased premises shall be deserted or vacated, the Landlord or its agents shall have the right to and may enter the said premises as the agent of the Tenant, either by force or otherwise, without being liable for any prosecution or damages therefore, and may relet the premises as the agent of the Tenant, and receive the rent therefore, upon such terms as shall be satisfactory to the Landlord, and all rights of the Tenant to repossess the premises under this lease shall be forfeited.  Such re-entry by the Landlord shall not operate to release the Tenant from any rent to be paid or covenants to be performed hereunder during the full term of this lease.  For the purpose of reletting, the landlord shall be authorized to make such repairs or alterations in or to the leased premises as may be necessary to place the same in good order and condition.  The Tenant shall be liable to the Landlord for the cost of such repairs or alterations, and all expenses of such reletting.  If the sum realized or to be realized from the reletting is insufficient to satisfy the monthly or term rent provided in this lease, the Landlord, at its option, may require the Tenant to pay such deficiency month by month, or may hold the Tenant in advance for the entire deficiency to be realized during the term of the reletting.  The tenant shall not be entitled to any surplus accruing as a result of the reletting.  The Landlord is hereby granted a lien, in addition to any statutory lien or right to distrain that may exist on all personal property of the Tenant in or upon the demised premises, to secure payment of the rent and performance of the covenants and conditions of this lease.  The Landlord shall have the right as agent of the Tenant, to take possession of any furniture, fixtures or other personal property of the Tenant found in or about the premises, and sell the same at public or private sale and to apply the proceeds thereof to the payment of any monies becoming due under this lease, the Tenant hereby waiving the benefit of all laws exempting property from execution, levy and sale on distress or judgment.  The Tenant agrees to pay, as additional rent, all attorney’s fees and other expenses incurred by the Landlord in enforcing any of the obligations under this lease.

Fourth. – The Tenant shall not sub-let the demised premises nor any portion thereof, nor shall this lease be assigned by the Tenant without the prior written consent of the Landlord endorsed hereon.  If tenant needs to sublet, landlord must first be consulted and any sub-let will be considered only at current market rates.  Administrative costs and brokerage commission will he charged for re-letting by Landlord.

 

 

 

 

Fifth. – The Tenant has examined the demised premises, and accepts them in their present condition (except as otherwise expressly provided herein) and without any representations on the part of the Landlord or its agent as to the present or future condition of the said premises.  The Tenant shall keep the demised premises in good condition, and shall redecorate, paint and renovate the said premises as may be necessary to keep them in repair and good appearance.  The Tenant shall quit and surrender the premises at the end of the demised term in as good condition as the reasonable use thereof will permit.  The Tenant shall not make any alterations, additions, or improvements to said premises without the prior written consent of the Landlord.  All erections, alterations, additions and improvements, whether temporary or permanent in character, which may be made upon the premises either by the Landlord or the Tenant, except furniture or movable trade fixtures installed at the expense of the Tenant, shall be the property of the Landlord and shall remain upon and be surrendered with the premises as a part thereof at the termination of this Lease, without compensation to the Tenant.  The Tenant further agrees to keep said premises and all parts thereof in a clean and sanitary condition and free from trash, inflammable material and other objectionable matter.

Sixth. – In the event that any mechanics’ lien is filed against the premises as a result of alterations, additions or improvements made by the Tenant, the Landlord, at its option, after thirty days notice to Tenant, may terminate this least and may pay the said lien, without inquiring into the validity thereof, and the Tenant shall forthwith reimburse the Landlord the total expense incurred by the Landlord in discharging the said lien, as additional rent hereunder.

Seventh. – Tenant  shall obtain, pay for, and keep in effect, for the benefit of the Landlord and the Tenant, Public Liability Insurance on the Rental space.  The insurance company must be acceptable to the Landlord, provided Landlord shall act reasonable in judging such company’s acceptability.  The coverage must be at least the minimum amount of $1,000,000.00 under this Lease.   Landlord shall be named as an additional insured on such policy.  All such policies shall state that the insurance company cannot cancel or refuse to renew without at least ten (10) days

reasonable promptness and in that case the rent accrued and accruing shall not cease or determine.  The Tenant shall immediately notify the Landlord in case of fire or other damage to the premises.

Twelfth. – The Tenant agrees to observe and comply with all laws, ordinances, rules and regulations of the Federal, State, County and Municipal authorities applicable to the business to to be conducted by the Tenant in the demised premises.  The Tenant agrees not to do or permit anything to be done in said premises. or keep anything therein, which will increase the rate of fire insurance premiums on the improvements or any part thereof, or on property kept therein, or which will obstruct or interfere with the rights of other tenants, or conflict with the regulations of the Fire Department or with any insurance polices upon said improvements or any part thereof.  In the event of any increase in insurance premiums resulting from the Tenant’s occupancy of’ the premises, or from any act or omission on the part of the Tenant, the Tenant agrees to pay said increase in insurance premiums on the improvements or contents thereof as additional rent.

Thirteenth. – No sign, advertisement or notice shall be affixed to or placed upon any part of the demised premises by the Tenant, except in such manner, and of such size, design and color as shall be approved in advance in writing by the Landlord.

Fourteenth. – This lease is subject and is hereby subordinated to all present and future mortgages, deeds of trust and other encumbrances affecting the demised premises or the property of which the premises are a part.  The Tenant agrees to execute, at no expense to the Landlord, any any instrument which may be deemed necessary or desirable by the Landlord to further effect the subordination of this lease to any such mortgage, deed of trust or encumbrance.

Fifteenth. – In event of the sale by the Landlord of the demised premises, or the property of which said, premises are a part, the landlord or the purchaser may terminate this lease on the thirtieth day of April in any year upon giving the Tenant notice of such termination prior to the first day of January in the same year.

Sixteenth. – The rules and regulations regarding the demised premises, affixed to this lease, if any, as well as any other and further reasonable rules and regulations which shall be made by the Landlord, shall be observed by the Tenant and by the Tenant’s employees, agents and customers.  The Landlord. reserves the right to rescind any presently existing rules applicable to the demised premises, and to make such other and further reasonable rules and regulations as, in its judgment, may from time to time be desirable for the safety, care and cleanliness of the premises, and for the preservation of good order therein, which rules, when so made and notice thereof given to the Tenant, shall have the same force and effect as if originally made a part of this lease.  Such other and further rules shall not, however, be inconsistent with the proper and rightful enjoyment by the Tenant of the demised premises.

 

Seventeenth. – In case of violation by the Tenant of any of the covenants, agreements and conditions of this lease, or of the rules and regulations now or hereafter to be reasonably established by the Landlord, and upon failure to discontinue such violation within ten days after notice thereof given to the Tenant, this lease shall thenceforth, at the option of the Landlord, become null and void, and the Landlord may re-enter without further notice of demand.  The Landlord rent in such case shall become due, be apportioned and paid on and up to the day of such re-entry, and the Tenant shall be liable for all loss or damage resulting from such violation as aforesaid.  No waiver by the Landlord of any violation or breach of condition by the Tenant shall constitute or be construed as a waiver of any other violation or breach of condition, nor shall lapse of time after breach of condition by the Tenant before the Landlord shall exercise its option under this paragraph operate to defeat the right of the landlord to declare this least null and void and to re-enter upon the demised premises after the said breach or violation.

Eighteenth. – All notices and demands, legal or otherwise, incidental to this lease, or the occupation of the demised premises shall be in writing.  If the Landlord or its agent desires to give or serve upon the Tenant any notice or demand, it shall be sufficient to send a copy thereof by registered mail, addressed to the Tenant at the demised premises, or to lease a copy thereof with a person of suitable age found on the premises, or to pose a copy thereof upon the door to said premises.  Notices from the Tenant to the Landlord shall be sent by registered mail or delivered to the Landlord at the place hereinbefore designated for the payment of rent, or to such

party or place as the Landlord may from time to time designate in writing.

Nineteenth. – In is further agreed that if at any time during the term of this lease the Tenant shall make any assignment for the benefit of creditors, or be decreed insolvent or bankrupt according to law, or if a receiver shall be appointed for the Tenant, then the Landlord may, at its option, terminate this lease, exercise of such option to be evidenced by notice to that effect served upon the assignee, receiver, trustee or other person in charge of the liquidation of the property of the Tenant or the Tenant’s estate, but such termination shall not release or discharge any payment of rent payable hereunder and then accrued, or any liability then accrued by reason of any agreement or covenant herein contained on the part of the Tenant, or the Tenant’s legal representatives.

Twentieth. – In the event that the Tenant shall remain in the demised premises after the expiration of the term of this tease without having executed a new written lease with the Landlord, such holding over shall not constitute a renewal or extension of this lease.  The Landlord may, at its option, elect to treat the Tenant as one who has not removed at the end of his term, and thereupon be entitled to all the remedies against the Tenant provided by law in that situation, or the Landlord may elect, at its option, to construe such holding over as a tenancy from month to month, subject to all the terms and conditions of this lease, except as to duration thereof, and in that event the Tenant shall pay monthly rent in advance at the rate of $4,000.00 per month.

Twenty-first. – If the property or any part thereof wherein the demised premises are located shall be taken by public or quasi-public authority under any power of eminent domain or condemnation, this lease, at the option of the Landlord shall forthwith terminate and the Tenant shall have no claim or interest in or to any award of damages for such taking.

Twenty-second. – The Tenant has this day deposited with the Landlord the sum of $4,600.00* as security for the full and faithful performance by the Tenant of all the terms, covenants and conditions of this lease upon the Tenant’s part to be performed, which said sum shall be returned to the Tenant after the time fixed as the expiration of the term herein, provided the Tenant has fully and faithfully carried out all the said terms, covenants and conditions on Tenant’s part to be performed.  In the event of a bona fide sale, subject to this lease, the landlord shall have the right to transfer the security to the vendor for the benefit of the Tenant and the Landlord shall be considered released by the Tenant from all liability for the return of such security, and the Tenant agrees to look to the new Landlord solely for the return of the said security, and it is agreed that this shall apply to every transfer or assignment made of the security to a new Landlord.  The security deposited under this lease shall not be mortgaged, assigned or encumbered by the Tenant without the written consent of the Landlord.  No portion of the security deposit, deposited here under $4,600.00* may be applied by tenant against any rental obligation due here under. *5,670.00 is on hand under a prior lease.  $1,070.00 shall be returned to Tenant upon the execution of this lease.

Twenty-third. – Any dispute arising under this lease shall be settled by arbitration Then Landlord and Tenant shall each choose an arbitrator, and the two arbitrators thus chosen shall select a third arbitrator.  The findings and award of the three arbitrators thus chosen shall be final and binding on the parties hereto.

Twenty-fourth. – No rights are to be conferred upon the Tenant until this lease has been signed by the Landlord, and an executed copy of the lease has been delivered to the Tenant.

Twenty-fifth. – The foregoing rights and remedies are not intended to be exclusive but a additional to all rights, and remedies the Landlord would otherwise have by law.

Twenty-sixth. – All of the terms, covenants and conditions of this lease shall inure to the benefit of and be binding upon the respective heirs, executors, administrators, successors and assigns of the parties hereto.  However, in the event of the death of the Tenant, if an individual, the Landlord may, at its option. terminate this lease by notifying the executor or administrator of the Tenant at the demised premises.

Twenty-seventh. – This lease and the obligation of Tenant to pay rent hereunder and perform all

of the other covenants and agreements hereunder on part of tenant to be performed shall in nowise be affected, impaired or excused because Landlord is unable to supply or is delayed in supplying any service expressly or implied to be supplied or is unable to make, or is delayed in making any repairs, additions, alterations or decorations or is unable to supply or is delayed in supplying any equipment or fixtures if Landlord is prevented or delayed from so doing by reason of governmental preemption in connection with the National Emergency declared by the President of the United States or in connection with any rule, order or regulation of any department or subdivision thereof of any governmental agency or by reason of the conditions of supply and demand which have been or are affected by the war.

Twenty-eighth. – This instrument may not be changed orally.

Twenty-ninth. – It is understood that Tenant shall comply with the trash & recycling program as outlined and enforced by the Boro of Red Bank and by the Landlord.  It is understood that trash is picked up each evening by Boro of Red Bank from a deposit container provided by landlord in designated area of parking lot.  Tenant shall deposit his office trash in said container.

Thirtieth. – In every case in which Tenant is required by the terms of this lease to pay Landlord a sum of money and payment is not made within ten (10) days after the same becomes due, a penalty of 5% shall be paid as additional rent along with the sum of money owed.  Interest on Late Payment - If any sum of money is not paid within 30 days, interest shall also be payable from the first due date at the rate of (18%) per annum calculated on a per diem basis until paid.  However, if the amount of interest payable to the forgoing exceeds the maximum rate allowed by law, then interest on said unpaid sums shall accrue at the maximum rate allowed by law.  Landlord may at its option, cause such late charge to be added to and become a part of the next succeeding monthly installments of fixed rent to be made pursuant here to.  Any payment made shall 1st be applied to late fees, interest and other charges then to current rents.

Thirty-first. – Chair desk pads must be used on the carpet under all rolling type chairs to preserve flooring.

Thirty-second. – Tenant shall be responsible for the cost of replacement of all standard lamps and bulbs and all ballast used by tenant in the Demised Premises.  The building management does provide such service and tenant will be billed appropriately when service is used.

Thirty-third. – This building is a SMOKE FREE building.  All Tenants and their invitees are required to comply.

Thirty-fourth. – It is understood that 3 parking spaces shall be made available for Tenant in the 3 Harding Road/Hudson St. parking lot and their employees on an ‘as available’ basis in the lot known as 195 Broad Street, Red Bank, only.

Thirty-fifth. – Landlord shall have a key for access to the entire subject premises at all times.  Landlord may enter the premises at all times.  If Tenant changes locks the new keys must be keyed to the Landlord’s masterkey.

Thirty-sixth. – Tenant shall notify Landlord 3 months (1/1/10) prior to expiration of this Lease if he intends to vacate premises at the expiration of this Lease.

Thirty-seventh. – Tenant is aware that the building has a hard-wired, central station monitored smoke and heat detection system.  Tenant, is aware that any call to the central station that originates from the tenant’s demised premises and is a result of negligence of the tenant, the tenant will be responsible for any fine that the Boro of Red Bank or the Fire Marshal’s office may impose for response to said alarm.

The landlord and the tenant agree to the terms of this Lease by signing below.  If a party is a corporation, this Lease is signed by its proper corporate officers and its corporate seal is affixed.