LEASE AGREEMENT
BY AND BETWEEN
PLAZA I-A ASSOCIATES LIMITED PARTNERSHIP
AND
COMTEX SCIENTIFIC CORPORATION
TABLE OF CONTENTS
ARTICLE I
DEFINITIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
ARTICLE II
PREMISES . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
ARTICLE III
TERM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
ARTICLE IV
BASE RENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
ARTICLE V
OPERATING CHARGES . . . . . . . . . . . . . . . . . . . . . . . . 6
ARTICLE VI
USE OF PREMISES . . . . . . . . . . . . . . . . . . . . . . . . . 9
ARTICLE VII
ASSIGNMENT AND SUBLETTING . . . . . . . . . . . . . . . . . . . . 12
ARTICLE VIII
MAINTENANCE AND REPAIRS . . . . . . . . . . . . . . . . . . . . . 13
ARTICLE IX
ALTERATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
ARTICLE X
SIGNS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
ARTICLE XI
SECURITY DEPOSIT . . . . . . . . . . . . . . . . . . . . . . . . 17
ARTICLE XII
HOLDING OVER . . . . . . . . . . . . . . . . . . . . . . . . . . 18
ARTICLE XIII
INSURANCE . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
ARTICLE XIV
SERVICES AND UTILITIES . . . . . . . . . . . . . . . . . . . . . 19
ARTICLE XV
LIABILITY OF LANDLORD . . . . . . . . . . . . . . . . . . . . . . 21
ARTICLE XVI
RULES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
ARTICLE XVII
DAMAGE OR DESTRUCTION . . . . . . . . . . . . . . . . . . . . . . 23
ARTICLE XVIII
CONDEMNATION . . . . . . . . . . . . . . . . . . . . . . . . . . 24
ARTICLE XIX
DEFAULT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
ARTICLE XX
BANKRUPTCY . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
ARTICLE XXI
SUBORDINATION . . . . . . . . . . . . . . . . . . . . . . . . . . 28
ARTICLE XXII
COVENANTS OF LANDLORD . . . . . . . . . . . . . . . . . . . . . . 29
ARTICLE XXIII
GENERAL PROVISIONS . . . . . . . . . . . . . . . . . . . . . . . 30
ARTICLE XXIV
PARKING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
ARTICLE XV
SATELLITE DISHES . . . . . . . . . . . . . . . . . . . . . . . . 34
EXHIBIT A -- Plan Showing Premises
EXHIBIT B -- Rules
EXHIBIT C -- Measurement of Rentable Area
LEASE AGREEMENT
THIS LEASE AGREEMENT (this "Lease") is dated as of April 6,
1996, by and between PLAZA I-A ASSOCIATES LIMITED PARTNERSHIP, a
Virginia limited partnership ("Landlord"), and COMTEX SCIENTIFIC
CORPORATION, a New York corporation ("Tenant").
ARTICLE I
DEFINITIONS
1.1 Building: a twelve (12) story office building
containing one hundred ninety-five thousand ninety-three
(195,093) square feet of rentable area, known as 4900 Seminary
Road and located on certain land (the "Land") in Alexandria,
Virginia, together with related parking areas and facilities
(whether in or near the Building), roadways and driveways and
other amenities.
1.2 Premises: six thousand one hundred ninety-two (6,192)
square feet of rentable area located on the eighth (8th) floor of
the Building (Suite 800) and outlined on Exhibit A attached
hereto.
1.3 Tenant's Proportionate Share: 3.17%.
1.4 Lease Term: approximately seventy-seven (77) months,
ending at 11:59 p.m. on August 31, 2002.
1.5 Lease Commencement Date: April 6, 1996.
1.6 Base Rent and Base Rent Rate: one hundred twenty-three
thousand eight hundred forty dollars and no cents ($123,840.00)
for the first Lease Year (which amount is based on a base rent
rate of twenty dollars and no cents ($20.00) per square foot of
rentable area), divided into twelve (12) equal monthly
installments of $10,320.00 for the first Lease Year.
1.7 Base Rent Annual Escalation Percentage: three percent
(3%).
1.8 Security Deposit: sixty-one thousand nine hundred
twenty dollars and no cents ($61,920.00).
1.9 Broker: The Mark Winkler Company.
1.10 Tenant Address for Notices: at the Premises (Attn:
Mr. C.W. Gilluly).
1.11 Complex: that complex (of which the Building is a
part) known as Mark Center, and including all easements, rights
and appurtenances thereto (including private streets, storm
detention facilities and any other service facilities).
1.12 Guarantor(s): none.
1.13 Landlord Address for Notices: c/o The Mark Winkler
Company, 4900 Seminary Road, Suite 900, Alexandria, Virginia
22311.
1.14 Parking Permits: twenty-five (25).
ARTICLE II
PREMISES
2.1 Tenant leases the Premises from Landlord upon the terms
stated herein. Tenant will have the non-exclusive right to use
for their intended purpose the areas of the Building designated
by Landlord from time to time as common and public space, which
areas are for the benefit of the general population of the
Building and include, without limitation, the first floor lobby
area, the public corridors and stairs, the elevators, and the
public restrooms in the Building.
2.2 The standard of measurement set forth on Exhibit C
attached hereto governs and controls all calculations in this
Lease relating to the rentable area of the Premises.
ARTICLE III
TERM
3.1 The terms and conditions of this Lease shall be
effective from the date of execution of this Lease by Landlord
and Tenant. The Lease Term shall commence on the Lease
Commencement Date specified in Section 1.5 above. If the Lease
Commencement Date is not the first day of a month, then the Lease
Term shall be the period set forth in Section 1.4 hereinabove
plus the partial month in which the Lease Commencement Date
occurs. The Lease Term shall also include any properly exercised
renewal or extension of the term of this Lease.
3.2 Lease Year shall mean a period of twelve (12)
consecutive months commencing on the Lease Commencement Date and
each successive twelve (12) month period thereafter; provided,
however, that if the Lease Commencement Date is not the first day
of a month, then the second Lease Year shall commence on the
first day of the month in which the first anniversary of the
Lease Commencement Date occurs.
-5-
ARTICLE IV
BASE RENT
4.1 During each Lease Year during the Lease Term, Tenant
shall pay to Landlord as annual base rent for the Premises,
without set-off, deduction or demand, the Base Rent, which amount
is subject to upward adjustment from time to time as provided in
Section 4.2 hereinbelow. The Base Rent shall be divided into
twelve (12) equal monthly installments and each such monthly
installment shall be due and payable in advance on the first day
of each month during each Lease Year. Concurrently with Tenant's
execution of this Lease, Tenant shall pay an amount equal to one
(1) monthly installment of the Base Rent payable during the first
Lease Year, which amount shall be credited toward the first
monthly installment of the Base Rent due and payable her 1,817,928
[SALES] 2,311,183
[TOTAL-REVENUES] 2,311,183
[CGS] 1,533,064
[TOTAL-COSTS] 2,709,944
[OTHER-EXPENSES] 1,302
[LOSS-PROVISION] 0
[INTEREST-EXPENSE] 78,000
[INCOME-PRETAX] (478,063)
[INCOME-TAX] 489
[INCOME-CONTINUING] (478,552)
[DISCONTINUED] 0
[EXTRAORDINARY] 0
[CHANGES] 0
[NET-INCOME] (478,552)
[EPS-PRIMARY] (0.06)
[EPS-DILUTED] 0
[/TABLE]