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2002_Resolutions
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2002_Resolutions
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assumes and agrees to pay and perform all liabilities and obligations of the Tenant under <br />• the Lease, to the same extent as if the Assignee were the original Tenant under the Lease. <br />Expenses for utilities, real estate taxes and insurance, as described in Sections 8, 9, and <br />12 of the Lease respectively, shall be prorated between the Assignor and the Assignee as <br />of the Assignment Commencement Date. The Assignee understands that neither the <br />Landlord nor the Assignor will make any modifications to the Leased Premises to <br />accommodate the Assignee or the Assignee's intended use of the Leased Premises, and <br />having examined the Leased Premises, accepts the Leased Premises "As -Is." <br />4. Assignee's Use of the Premises. Assignee hereby warrants and represents <br />that it will use the Leased Premises only for purposes that are permissible under the terms <br />of the Lease. <br />5. Landlord's Consent to Assignment. The Landlord executes this <br />Assignment for the sole purpose of consenting to this Assignment. Notwithstanding this <br />consent, Section 17 of the Lease shall remain in effect. <br />6. Term of Assignment. The term of this Assignment shall commence on <br />January 1, 2003 (the "Assignment Commencement Date") and shall expire on April 30, <br />2005 (the "Expiration Date"). In the event the Assignee desires to extend its possession <br />of the Leased Premises beyond the Expiration Date, it shall execute a separate lease <br />agreement with the Landlord, to which the Assignor will not be aparty, and for which the <br />Assignor shall have no liability or responsibility of any kind. <br />• 7. Rent. The Assignee shall pay rent to the Landlord at an annual rate of <br />eight dollars and 61/100s ($8.61) per square foot of the Leased Premises, which rent rate <br />shall escalate by three percent (3%) annually as provided in the Lease. Through April 30, <br />2003, the annual rent rate requires a monthly rental payment by the Assignee to the <br />Landlord in the amount of fourteen thousand, three hundred fifty dollars and no/100s <br />($14,350.00). Notwithstanding the foregoing, the rental under the Lease is fixed with an <br />annual escalator, and is not dependent on square footage of the Leased Premises. <br />1] <br />8. Indemnification. Assignor shall indemnify and save Assignee harmless <br />from and against any and all claims, demands, actions, causes of action, suits, <br />proceedings, damages, liabilities and costs and expenses of every nature whatsoever <br />(including without limitation, reasonable attorney's fees) arising prior to the Assignment <br />Commencement Date and relating to the Lease or the Leased Premises. Assignee shall <br />indemnify and save Assignor harmless from and against any and all claims, demands, <br />actions, causes of action, suits, proceedings, damages, liabilities and costs and expenses <br />of every nature whatsoever (including without limitation, reasonable attorney's fees) <br />arising on or after the Assignment Commencement Date and relating to the Lease or the <br />Leased Premises. <br />9. Broker Fees. Each of Assignor, Assignee and Landlord represents and <br />warrants to one another that they have had no dealings with any real estate broker or <br />agent in connection with this Assignment that have generated a commission or fee in <br />2 <br />
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