Commercial Lease Agreement between 235 Littleton Road Associates, Inc. and Unisphere Solutions, Inc. for 235 Littleton Road, Westford, MA
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This agreement is a three-year commercial lease between 235 Littleton Road Associates, Inc. (landlord) and Unisphere Solutions, Inc. (tenant) for office space at 235 Littleton Road, Westford, MA. The tenant will pay monthly rent, a security deposit, and utility costs, and may renew the lease for an additional three years at market rates. The tenant must use the space for office purposes, maintain the premises, and comply with all laws. The landlord is responsible for building structure maintenance. Both parties have specific rights regarding alterations, subleasing, and access.
EX-10.18 11 ex10-18.txt LEASE AGREEMENT - 235 LITTLETON ROAD 1 Exhibit 10.18 235 LITTLETON ROAD ASSOCIATES, INC. 222 LITTLETON ROAD WESTFORD, MA 01886 COMMERCIAL LEASE 1. PARTIES LESSOR, which expression shall include 235 LITTLETON ROAD ASSOCIATES, INC., 222 LITTLETON ROAD, WESTFORD, MA 01886 heirs, successors, and assigns where the context so admits, does hereby lease to LESSEE, which expression shall include UNISPHERE SOLUTIONS, INC., 5 CARLISLE ROAD, WESTFORD, MA 01886 successors, executors, administrators, and assigns where the context so admits, and the LESSEE hereby leases the following described premises: 2. PREMISES UNITS 1, 2, 3, 4 & 5 (CONTAINING APPROXIMATELY 13,929 SQUARE FEET) AT 235 LITTLETON ROAD IN WESTFORD, MA together with the right to use in common, with others entitled thereto, the hallways, stairways, and elevators, necessary for access to said leased premises, and lavatories thereto. The Lessee shall have the right to use their proportionate number of parking spaces based on square footage. 3. TERM The term of this lease shall be for THREE (3) YEARS commencing on JANUARY 15, 2000 and ending on JANUARY 14, 2003. The Lessee shall have one (1) three (3) year renewal option with six (6) months prior written notice. The renewal option rate shall be at current market rate. 4. RENT The LESSEE shall pay to the LESSOR rent at a rate of: $20,022.94 PER MONTH ($240,275.25 PER YEAR), payable in advance in monthly installments of $20,022.94. 5. SECURITY DEPOSIT Upon the execution of this lease, the LESSEE shall pay to the LESSOR the amount of $20,022.94 dollars, which shall be held as a security for the LESSEE'S performance as herein provided and refunded to the LESSEE at the end of this lease subject to the LESSEE'S satisfactory compliance with the conditions hereof. 6. RENT ADJUSTMENT If in any tax year commencing with the fiscal year 2001, the real estate taxes on the land and buildings, of which the leases premises are a part, are in excess of the amount of the real estate taxes thereon for the fiscal year 2000 (hereinafter called the "Base Year"), LESSEE will pay to LESSOR as additional rent hereunder, when and as designated by notice in writing by LESSOR, 100 per cent of the Lessee's proportionate share of such excess that may occur in each year of the term of this lease or any extension or renewal thereof and proportionately for any part of a fiscal year. 2 7. UTILITIES The LESSEE shall pay, as they become due, all bills for electricity and other utilities (whether they are used for furnishing heat or other purposes) that are furnished to the leased premises and presently separately metered, and all bills for fuel furnished to a separate tank servicing the leased premises exclusively. Lessor shall have no obligation to provide utilities or equipment other than the utilities and equipment within the premises as of the commencement date of this lease. In the event LESSEE requires additional utilities or equipment, the installation and maintenance thereof shall be the LESSEE'S sole obligation, provided that such installation shall be subject to the written consent of the LESSOR. 8. USE OF LEASED PREMISES The LESSEE shall use the leased premises only for the purpose of: OFFICE SPACE. 9. COMPLIANCE WITH LAWS The LESSEE acknowledges that no trade or occupation shall be conducted in the leased premises or use made thereof which will be unlawful, improper, noisy or offensive, or contrary to any law or any municipal by-law or ordinance in force in the city or town in which the premises are situated. 10. FIRE INSURANCE The LESSEE shall not permit any use of the leased premises which will make voidable any insurance on the property of which the leased premises are a part, or on the contents of said property or which shall be contrary to any law or regulation from time to time established by the New England Fire Insurance Rating Association, or any similar body succeeding to its powers. The LESSEE shall on demand reimburse the LESSOR, and all other tenants, all extra insurance premiums caused by the LESSEE'S use of the premises, not contemplated by this lease or as a result of any use contrary to any law or regulation. 11. MAINTENANCE A. LESSEE'S OBLIGATIONS The LESSEE agrees to maintain the leased premises in the same condition as it is at the commencement of the term or as it may be put in during the term of this lease, damage by fire and other casualty, and normal wear and tear only expected, and whenever necessary, to replace light bulbs, plate glass and other glass therein, acknowledging that the leased premises are now in good order and the glass whole. The LESSEE shall not permit the leased premises to be overloaded, damaged, stripped, or defaced, nor suffer any waste. LESSEE shall obtain written consent of LESSOR before erecting any sign on the premises. B. LESSOR'S OBLIGATIONS The LESSOR agrees to maintain the structure of the building of which the leased premises are a part in the same condition as it is at the commencement of the term or as it may be put in during the term of this lease, reasonable wear and tear, damage by fire and other casualty only excepted, unless such maintenance is required because of the LESSEE or those for whose conduct the LESSEE is legally responsible. 12. ALTERATIONS-ADDITIONS The LESSEE shall not make any alterations or additions the leased premises without the written consent of the LESSOR. All such allowed alterations shall be with written consent and at LESSEE'S expense and shall be in quality at least equal to the present construction. LESSEE shall not permit any mechanic's 3 liens, or similar liens, to remain upon the leased premises for labor and material furnished to LESSEE or claimed to have been furnished to LESSEE in connection with work of any character performed or claimed to have been performed at the direction of LESSEE and shall cause any such lien to be released of record forthwith without cost to LESSOR. Any alterations or improvements made by the LESSEE shall become the property of the LESSOR at the termination of occupancy as provided herein. 13. ASSIGNMENTS-SUBLEASING The LESSEE shall not assign or sublet the whole or any part of the leased premises without the LESSOR'S prior written consent which shall not be unreasonably withheld. Notwithstanding such consent, LESSEE shall remain liable to LESSOR for the payment of all rent and for the full performance of the covenants and conditions of this lease. 14. SUBORDINATION This lease shall be subject to any and all mortgages, deeds of trust and other instruments in the nature of a mortgage, now or at any time hereafter, a lien or liens on the property of which the leased premises are a part and the LESSEE shall, when requested, promptly execute and deliver such written instruments as shall be necessary to show the subordination of this lease to said mortgages, deeds of trust or other such instruments in the nature of a mortgage. 15. LESSOR'S ACCESS The LESSOR or agents of the LESSOR may, at reasonable times and for reasonable cause, enter to view the leased premises and may remove placards and signs not approved and affixed as herein provided, and make repairs and alterations as LESSOR should elect to do and may show the leased premises to others, and at any time within three (3) months before the expiration of the term, may affix to any suitable part of the leased premises a notice for letting the or selling the leased premises or property of which the leased premises are a part and keep the same so affixed without hindrance or molestation. The LESSOR and or Lessor's agent will retain keys to the leased premises to enable access in the event of an urgent situation, in such situation the Lessee agrees to wave all advance notice requirements but will be notified as soon as possible. 16. INDEMNIFICATION AND LIABILITY The LESSEE shall save the LESSOR harmless from all loss and damage occasioned by the use or escape of water or by the bursting of pipes within the leased premises, or by any nuisance made or suffered on the leased premises, unless such loss is caused by the neglect of the LESSOR. The removal of snow and ice from the sidewalks bordering upon the leased premises shall be 235 LITTLETON ROAD ASSOCIATES, INC. responsibility. 17. LESSEE'S LIABILITY INSURANCE The LESSEE shall maintain with respect to the leased premises and the property of which the leased premises are a part comprehensive public liability insurance in the amount of $1,000,000.00 with property damage insurance in limits of $500,000.00 and fire legal liability insurance in the amount of $500,000.00 in responsible companies qualified to do business in Massachusetts and in good standing therein insuring the LESSOR as well as LESSEE against injury to persons or damage to property as provided. The LESSEE shall deposit with the LESSOR certificates for such insurance at or prior to the commencement of the term, and thereafter within thirty (30) days prior to the expiration of any such policies. All such insurance certificates shall provide that such policies shall not be cancelled without at least ten (10) days prior written notice to each assured named therein. 4 18. FIRE, CASUALTY - EMINENT DOMAIN Should a substantial portion of the leased premises, or of the property of which they are a part, be substantially damaged by fire or other casualty, or be taken by eminent domain, the LESSOR may elect to terminate this lease. When such fire, casualty, or taking renders the leased premises substantially unsuitable for their intended use, a just and proportionate abatement of rent shall be made, and the LESSEE may elect to terminate this lease if: (a) The LESSOR fails to give written notice within thirty (30) days of intention to restore leased premises, or (b) The LESSOR fails to restore the leased premises to a condition substantially suitable for their intended use within ninety (90) days of said fire, casualty or taking. The LESSOR reserves, and the LESSEE grants to the LESSOR, all rights which the LESSEE may have for damages or injury to the leased premises for any taking by eminent domain, except for damage to the LESSEE'S fixtures, property, or equipment. 19. DEFAULT AND BANKRUPTCY In the event that: (a) The LESSEE shall default in the payment of any installment of rent or other sum herein specified; or (b) The LESSEE shall default in the observance or performance of any other of the LESSEE'S covenants, agreements, or obligations hereunder; or (c) The LESSEE shall be declared bankrupt or insolvent according to law, or, if any assignment shall be made of LESSEE'S property for the benefit of creditors, then the LESSOR shall have the right thereafter, to re-enter and take complete possession of the leased premises, to declare the term of this lease ended, and remove the LESSEE'S effects, without prejudice to any remedies which might be otherwise used for arrears of rent of other default. The LESSEE shall indemnify the LESSOR against all loss of rent and other payments which the LESSOR may incur by reason of such termination during the residue of the term. If the LESSEE shall default, in the observance or performance of any conditions or covenants on LESSEE'S part to be observed or performed under or by virtue of any of the provisions in any article of this lease, the LESSOR, without being under any obligation to do so and without thereby waiving such default, may remedy such default for the account and at the expense of the LESSEE. If the LESSOR makes any reasonable and customary expenditures in connection therewith, including but not limited to, attorney's fees in instituting, prosecuting or defending any action or proceeding, such sums paid or obligations insured, with interest at the rate of 10 percent per annum and costs, shall be paid to the LESSOR by the LESSEE as additional rent. 20. NOTICE Any notice from the LESSOR to the LESSEE relating to the leased premises or to the occupancy thereof, shall be deemed duty served, if hand delivered to the leased premises by the LESSOR or LESSORS agent, or if mailed to the leased premises, registered or certified mail, return receipt requested, postage prepaid, addressed to the LESSEE. Any notice from the LESSEE to the LESSOR relating to the leased premises or to the occupancy thereof, shall be deemed duly served, if mailed to the LESSOR by registered or certified mail, return receipt requested, postage prepaid, addressed to the LESSOR at such address as the LESSOR may from time to time advise in writing. All rent notices shall be paid and sent to the LESSOR at 222 LITTLETON ROAD, WESTFORD, MA 01886. 5 21. SURRENDER The LESSEE shall at the expiration or other termination of this lease remove all LESSEE'S goods and effects from the leased premises, (including, without hereby limiting the generality of the foregoing, all signs and lettering affixed or painted by the LESSEE, either inside or outside the leased premises). LESSEE shall deliver to the LESSOR the leased premises and all keys, locks thereto, and other fixtures connected therewith and all alterations and additions made to or upon the leased premises, in good condition, damage by fire or other casualty only excepted. In the event of the LESSEE'S failure to remove any of the LESSEE'S property from the premises, LESSOR is hereby authorized, without liability to LESSEE for loss or damage thereto, and at the sole risk of LESSEE, to remove and store any of the property at the LESSEE'S expense, or to retain same under LESSOR'S control or to sell at public or private sale, without notice any or all of the property not so removed and to apply the net proceeds of such sale to the payment of any sum due hereunder, or to destroy such property. 22. OTHER PROVISIONS It is also understood and agreed that: THE LESSEE SHALL HAVE ACCESS TO LEASED UNITS FROM DECEMBER 15, 1999 THROUGH JANUARY 14, 2000 SPECIFICALLY FOR THE PURPOSE OF WORKING ON TENANT IMPROVEMENTS. PRIOR TO STARTING ANY TENANT IMPROVEMENTS THE LESSEE SHALL PROVIDE THE LESSOR WITH SATISFACTORY PROOF OF ALL INSURANCE REQUIRED BY THIS LEASE AND SATISFACTORY PROOF OF INSURANCE FOR ALL CONTRACTORS OR SUB CONTRACTORS WORKING FOR THE LESSEE. THE LESSEE AGREES TO PAY TO THE LESSOR 82% OF THE ACTUAL DUMPSTER FEES FOR THE BUILDING, WHICH WILL BE BILLED EVERY THREE MONTHS BY THE LESSOR. THE LESSEE WILL HAVE THE OPTION, AS AN ALTERNATIVE TO THE ABOVE, TO SUPPLY AND PAY FOR THEIR OWN DUMPSTER SERVICE PROVIDED THAT THE LESSEE IS GIVEN 60 DAYS NOTICE AND THAT THE LESSEE'S CONTAINER IS PLACED NEXT TO THE LESSOR'S. IN WITNESS WHEREOF, the said Parties hereunto set their hands and seals this 15th day of December, 1999. /s/ Robert T. Curtin /s/ Richard W. Lewis - -------------------------------- ---------------------------------- LESSEE Unisphere Solutions, Inc. LESSOR Richard W. Lewis, President By: Robert T. Curtin Controller - -------------------------------- ---------------------------------- LESSEE LESSOR
