Agreement of Lease (2011)Full Document 

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AGREEMENT OF LEASE



between


PRINCIPAL PROPERTIES, L.P.


and



GROUP DCA, INC.






Complex:



800 Lanidex Plaza
Parsippany, NJ 07054


 
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TABLE OF CONTENTS


BASIC PROVISIONS
DEFINITIONS
ARTICLE 1 .........DEMISE OF PREMISES AND COMMENCEMENT DATE
ARTICLE 2 .........COMMON AREAS
ARTICLE 3 .........RENT
ARTICLE 4 .........SECURITY
ARTICLE 5 .........ASSIGNMENT AND SUBLETTING
ARTICLE 6 .........REPAIRS, MAINTENANCE AND UTILITES
ARTICLE 7 .........COMPLIANCE WITH LAW
ARTICLE 8 .........ALTERATIONS
ARTICLE 9 .........INSURANCE
ARTICLE 10 .......DAMAGE AND DESTRUCTION; EMINENT DOMAIN
ARTICLE 11 .......RENT ABATEMENT
ARTICLE 12 .......QUIET POSSESSION
ARTICLE 13 .......DEFAULT; REMEDIES AND DAMAGES
ARTICLE 14 .......UNAVOIDABLE DELAYS, FORCE MAJEURE
ARTICLE 15 .......NOTICES
ARTICLE 16 .......ACCESS
ARTICLE 17 .......SIGNS
ARTICLE 18 .......END OF TERM
ARTICLE 19 .......HOLDING OVER
ARTICLE 20 .......INDEMNITY
ARTICLE 21 .......SUBORDINATION
ARTICLE 22 .......CERTIFICATES
ARTICLE 23 .......PARKING SPACES; USE OF EXTERIOR AREAS
ARTICLE 24 .......WAIVER PROVISIONS
ARTICLE 25 .......MISCELLANEOUS


 
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THIS LEASE is made and entered into as of this 1st day of March, 2007, by and between PRINCIPAL PROPERTIES, L.P., a New Jersey limited partnership, having its principal office at c/o Denholtz Management Corp., 1600 St. Georges Avenue, Rahway, New Jersey 07065 (“Landlord”) and GROUP DCA, INC., a New Jersey corporation, having an address at 98 Park Street, Montclair, NJ 07042 (“Tenant”).

NOW, THEREFORE, in consideration of the terms, covenants and conditions herein set forth, Landlord and Tenant hereby covenant and agree as follows:

The following Basic Provisions and Definitions are incorporated into and made a part of this Lease:

BASIC PROVISIONS

(1)           Building:                                800 Lanidex Plaza, Parsippany, NJ 07054

(2)           Premises:                                Suite No. 300, consisting of approximately 21,000 Square Feet.

(3)           Permitted Use:                       General, executive and administrative offices, showroom

(4)           Estimated Commencement Date:              May 1, 2007.

(5)           Expiration Date:                    The last day of the one hundred twenty-second (122nd) Lease Month.

(6)           Security:                                $140,000.00

(7)          Base Rent:                                                                             
 
 Period  Annual Base Rent                                  Monthly Base Rent
 Lease Months 1 through 5  $0.00                                  $0.00
 Lease Month 6   $120,000.00                                  
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