LEASE AGREEMENT
STATE OF TEXAS X
COUNTY OF MONTGOMERY X
This agreement of Lease, made this 31st day of May 2000, by and between
Philip LeFevre, Trustee, hereinafter referred to as "Landlord", and Dr. David
Summers dba., Endovasc, Ltd., hereinafter referred to as "Tenant".
WITNESSETH:
Premises 1.01 -- In consideration of the rent hereinafter reserved and the
covenants hereinafter contained, Landlord does hereby lease to the Tenant, and
Tenant hereby leases from Landlord Suites 108 containing approximately 1650
square feet, situated on the second floor of the Del Lago Office Plaza.
Building is located at 15001 Walden Road: Montgomery, Texas, which space is
hereinafter referred to as the "Premises," reserving, however, to Landlord space
for all necessary pipes and wires leading to and from the portions of the
Building not hereby leased, which will not unreasonably interfere with Tenant's
use of the Premises. Landlord expressly reserves the right to change the name of
said Building without notice to Tenant.
Term 2.01 -- The term of this lease shall be for (12) months commencing, on the
1st day of July 2000 and ending on the 30th day of June 2001, unless sooner
terminated as hereinafter provided.
2.02 -- Provided Tenant has not been in default under the terms of this lease,
Tenant shall have the option to extend this lease for an additional lease
period, provided that the Tenant gives the Landlord at least thirty (30) days
written notice prior to the expiration of the initial lease term of Tenant's
intention to exercise the option. If exercised the option period lease shall be
on the same terms and conditions set forth herein except for the base rental
amount which shall be mutually agreed upon. Further an allowance for common cost
charges may be assessed.
Rent 3.01 -- Tenant covenants and agrees to pay to Landlord during each year of
the term, without demand, set off or deduction of any kind, an annual rental as
set forth below (herein sometimes referred to as the "Base Rent"). Further
Tenant covenants and agrees to pay the total sum of ($15,600.00) as the total
base rent for the term of this lease to be remitted in monthly payments of
($1300.00) per month, commencing on June 1, 2000.
3.02 -- All sums stipulated throughout this lease shall be in addition to all
applicable sales, use, and similar taxes, all of which shall be paid by Tenant.
3.03 -- If the lease term begins on other than the first day of a month, rent
from such date until the first of the next succeeding month shall be pro-rated
on the basis of the actual number of days in each such month and shall be
payable in advance.
3.04 -- All payments of rent shall be made in case or by check payable to Philip
LeFevre, Trustee, and delivered to Philip LeFevre, Trustee at its office in the
Del Lago Office Building, 15001 Walden Road, Suite 203, City of Montgomery,
state of Texas, or to such other person and place as may be designated by notice
in writing from Landlord to Tenant from time to time.
3.05 -- No payment by Tenant or receipt by Landlord of a lesser amount than the
monthly installments of rent herein stipulated shall be deemed to be other than
on account of the earliest stipulated rent nor shall any endorsement or
statement on any check or any letter accompanying any check or payment as rent
be deemed an accord and satisfaction, and Landlord may accept such check for
payment without prejudice to landlord's right to recover the balance of such
rent or pursue any other remedy in this lease provided.
LANDLORD'S SERVICES 4.01 -- Landlord covenants and agrees that it will without
additional charge furnish:
(a) heat and air conditioning to maintain the premises at a reasonably
comfortable temperature between the hours of 8:00 A.M. and 6:00 P.M. Monday
through Friday of each week except holidays recognized by the U.S. Government.
(b) electricity for lighting purposes and operation of ordinary office
appliances, computers and other office equipment.
(c) janitor services two days a week (Monday and Wednesday), except
holidays recognized by the U.S. Government, it being understood and agreed,
however, that Landlord shall not be liable in any way for any damage or
inconvenience caused by the cessation or interruption of such heating, air
conditioning, electricity, janitor service occasioned by fire, accident,
strikes, necessary maintenance, alterations, or repairs, or other causes beyond
Landlord's control.
(d) failure by Landlord to any extent to furnish these defined services, or
any cessation thereof, shall neither render Landlord liable in any respect for
damages to either person or property, be construed as an eviction or partial
eviction of Tenant, work as an abatement of rent, nor relieve Tenant from
fulfillment of any covenant in this Lease.
(e) It is understood that employees of Landlord are prohibited as such from
receiving any packages or other articles delivered to the Building for Tenant
and that should any such employee receive any such packages or articles, he or
she in doing shall be the agent of Tenant and not of Landlord.
UPKEEP OF PREMISES 5.01 -- Subject to the provisions hereinafter contained in
regard to damage by fire, Landlord agrees to maintain the premises in good order
and repair damage thereto shall have been caused by the act or neglect of
Tenant, in which case the same shall be repaired by and at the expense of
Tenant.
USE OF PREMISES 6.01 -- Tenant covenants: to use the premises only for offices
for carrying on the business of Business Office and to permit Landlord to
transmit heat, air conditioning and electric current through the said premises
at all times at the discretion of the Landlord, provided, however, that Landlord
shall not exercise this right in such a way as to unreasonably inconvenience
Tenant, or unreasonably interfere with Tenant's use of the premises. All
property of any kind which may be on the premises shall be at the sole risk of
Tenant or those claiming through or under Tenant.
TENANT'S AGREEMENT 7.01 -- Tenant covenants and agrees:
(a) to pay to landlord said rent during the term and until possession of
the premise is redelivered to Landlord free and clear;
(b) to save Landlord and Philip LeFevre Trustee, managing agent, harmless
and indemnified from all loss, damage, liability or expense incurred, suffered
or claimed by any person whomsoever by reason of Tenant's neglect or use of the
premises of or said Building or of anything therein, or the parking facilities
in or adjacent thereto, or of water, steam, electricity, or other agency, or by
reason of any injury, loss, or damage to any person or property upon the
premises not caused by the negligence of landlord, and to be answerable for all
nuisances causes or suffered on the premises, or caused by Tenant in said
Building, or parking facilities, or on the approaches thereto;
(c) not to strip or overload, damage or deface the premises or hallways,
parking facilities or other approaches thereto, of said Building, or the
fixtures therein or used therewith, not to permit any hole to be made in any of
the same;
(d) not to suffer or permit any trade or occupation to be carried on or use
made of the premises which shall be unlawful, noisy, offensive, or injurious to
any person or property, or such as to increase the danger of fire or affect or
make void or voidable any insurance on said Building, or which may render any
increased or extra premium payable for such insurance, or regulation from time
to time established by any public authority;
(e) not to move any furniture or equipment into or out of the premises
except at such times as Landlord may from time to time designate;
(f) not to place upon the interior or exterior of the building or nay
window or any part thereof or door of the premises any placard, sign, lettering,
window covering or drapes except such and in such place and manner, as shall
have been first approved in writing by Landlord; to park vehicles only in the
area designated by Landlord; not to use any floor adhesive in the installation
of any carpeting;
(g) to conform to all rules or regulations from time to time established by
the appropriate insurance rating organization, and to all reasonable rules or
regulations from time to time established by Landlord.
ALTERATIONS 8.01 -- Tenant will not paint the premises or make or permit anyone
to make any alterations in or additions thereto, nor will tenant install any
equipment of any kind that will require any alterations, or additions to or the
use of the water system, heating system, plumbing system, air conditioning
system, or the electrical system, nor will tenant install a television antenna
on the roof, in the windows or upon the exterior of the premises or air
conditioning units of any type without the prior written consent of Landlord. If
any such alteration or additions are made without such consent, Landlord may
correct or remove them and Tenant shall be liable for any and all expense
incurred by Landlord in the performance of this work.
TENANT'S WAIVER OF CLAIMS 9.01 -- Tenant covenants that no claim shall be made
against Landlord by Tenant, or by any agent or servant of Tenant, or by others
claiming the right to be in the premises or in said Building through or under
Tenant, for any injury, loss or damage to person or property occurring upon the
premises from any cause other than the negligence of Landlord.
LIEN ON TENANT'S PROPERTY 10.01 -- Landlord shall have a lien for the payment of
the rent aforesaid upon all of the goods, wares, chattels, fixtures, furniture
and other personal property of Tenant which may be in or upon the premises.
Tenant hereby specifically waiving any and all exemptions allowed by law; and
such lien may be enforced on the nonpayment of any installment of rent by the
taking and selling of such property in the same manner as in the case of chattel
mortgages on default thereunder; said sale to be made upon ten (10) days notice
served upon the Tenant by posting upon the premises or by leaving same at his
place of residence; or such lien may be enforced in any other lawful manner at
the option of the Landlord.
ASSIGNMENT & SUBLETTING 11.01 -- Tenant covenants not to assign this lease nor
to sublet the premises or any portion thereof, nor rent desk space therein,
without the consent of the Landlord first obtained in writing. However, neither
such assignment or subletting nor the consent of Landlord thereto shall release,
discharge or affect the liability of Tenant, as provided in this lease, for the
full term hereof.
LANDLORD'S RIGHT OF ACCESS 12.01 -- Landlord may, at any time during Tenant's
occupancy during reasonable business hours, enter either to view the premises or
to show the same to others, or to make repairs to said Building, or to
introduce, replace, repair, alter or make new or change existing connections
from any fixtures, pipes, wires, ducts, conduits, or other construction therein
or remove, without being held responsible thereof, placards, signs, lettering,
window or door coverings and the like not expressly consented to.
12.12.02 -- If Tenant shall carpet over the access panels of the under floor
duct system in the floor of the premises, Landlord is hereby authorized and
permitted to cut such carpeting to reach the ducts in such panels in order to
make any necessary connections therefrom to service other parts of the Building,
without being held liable thereof, provided Landlord shall have the carpeting
re-stitched in a workmanlike manner, but tenant agrees to reimburse the Landlord
for the cost of such cutting and re-stitching.
12.03 -- Landlord may, within sixty (60) days preceding the expiration of the
term enter, to place and maintain notices for letting, free from hindrance or
control of Tenant, and to show the premises to prospective tenants thereof at
times which will not unreasonably interfere with Tenant's business. If Tenant
shall vacate the premises during the last month of the term of this lease,
Landlord shall have the unrestricted right to enter the same after Tenant's
moving to commence preparations for the succeeding tenant or for any other
purpose whatever, without affecting Tenant's obligation to pay rent for the full
term.
SURRENDER OF POSSESSION 13.01 -- Tenant covenants, at the expiration or other
termination of this lease, to remove all goods and effects form the premises not
the property of Landlord, and to yield up to Landlord the premises and all keys,
locks and other fixtures connected therewith in good repair, order and condition
in all respects, reasonable wear and use thereof and damage by fire, or other
casualty, not caused by Tenant's act or neglect, only excepted.
FIRE CLAUSE 14-01 -- This lease is made on condition that, if the premises or
any part thereof, or hallways, or other approaches thereto, be damaged or
destroyed by fire or other casualty from any cause, so as to render said
premises and/or approaches unfit for use and occupancy, a just and proportionate
part of the rent, according to the nature and extent of the injury to said
premises and/or approaches, shall be suspended or abated until said premises and
approaches have been put in as good condition for use and occupancy as at the
time immediately prior to such damage or destruction. Landlord will proceed at
its expense and, as expeditiously as may be practicable to repair the damage,
unless, because of the substantial extent of the damage or destruction, Landlord
should decide not to repair or restore the premises or the Building, in which
event and at either party' option, either party may terminate this lease
forthwith, by giving Landlord a written notice of its intention to terminate
within ninety (90) days after the date of the casualty.
CONDEMNATION 15.01 -- This lease shall be terminated and the rent payable
hereunder shall be abated to the date of such termination in either of the two
following events, namely: (1) the forcible leasing or condemnation of the
premises or any part thereof by any competent authority under right of eminent
domain for any public or quasi public use or purpose; and (2) the condemnation
by competent authority under right of eminent domain for any public or quasi
public use or purpose of 25% or more of the Building in which the premises are
located. The forcible leasing by any competent authority of any portion of said
Building other than the premises will have no effect whatever upon this lease.
In case of any taking or condemnation, whether or not the term of this lease
shall cease and terminate, the entire award shall be the property of Landlord,
and Tenant hereby assigns to Landlord all its right, title and interest in and
to any such award. Tenant, however, shall be entitled to claim, prove and
receive in the condemnation proceeding such awards as may be allowed for
fixtures and other equipment installed by it, but only if such awards shall be
made by the Court in addition to the award made by it to Landlord for the land
and improvements or part thereof so taken.
SECURITY DEPOSIT 16.01 -- Tenant hereby deposits with Landlord and shall
maintain at all times whole and unencumbered the sum of $ 1,300.00 as security
for the faithful performance by Tenant of this lease, it being expressly
understood and agreed that Tenant may not direct Landlord to apply said security
in payment of rent for any month during the lease term. If Tenant shall fully
and faithfully comply with all the provisions of this lease then said security
or any balance thereof remaining shall be repaid to Tenant within sixty (60)
days after termination of the lease term. In the event of any sale, transfer, or
assignment of the Landlord's interest under this lease, Tenant agrees and
consents that transferee or assignee, as the case may be and Landlord thereupon
shall be released from all liability for the repayment of said security, and
Tenant, in each instance, shall look solely to such transferee for repayment of
said security.
DEFAULTS AND REMEDIES 17.01 -- It is hereby mutually covenanted and agreed,
that:
(a) if Tenant shall fail to pay when due any installment of rent or any
other charge provided herein, or,
(b) if Tenant shall fail to keep and perform each and every covenant,
condition and agreement herein contained and on the part of tenant to be kept
and performed, or
(c) if Tenant shall abandon or evidence any intention to abandon premises,
or,
(d) if the estate hereby created shall be taken on execution or other
process of law, or
(e) if Tenant shall petition to be declared bankrupt or insolvent according
to law, or
(f) if a receiver or other similar officer shall be appointed to take
charge of any part of the property of, or to wind up the affairs of Tenant, and
it is not discharged within thirty (30) days, or
(g) if any assignment shall be made of Tenant's property for the benefit of
creditors, or
(h) if a petition shall be filed for Tenant's reorganization under Chapter
X of the Bankruptcy Act, then and in each and every such case, from thenceforth
and at all times thereafter, at the sole option of Landlord, Tenant's right of
possession shall thereupon cease and terminate, and Landlord shall be entitled
to the possession of the premises and to remove all persons and property
therefrom and to re-enter the same without further demand of rent or demand of
possession of said premises, either with or without process of law and without
becoming liable to prosecution thereof, any notice to quit or of intention to
re-enter being hereby expressly waived by Tenant; and in the event of such
re-entry or retaking by Landlord, Tenant shall nevertheless remain in all events
liable and answerable for the full rental to the date of retaking or re-entry,
and Tenant shall also be and remain answerable in damages for the deficiency or
loss of rent which Landlord may thereby sustain in respect of the balance of the
term; and in such case Landlord reserves full power, which is hereby acceded to
by Tenant, to let said premises for the benefit of Tenant in liquidation and
discharge, in whole or in part, as the case may be, of the liability of Tenant
under the terms and provisions of this lease, and such damages, at the option of
the Landlord, may be recovered by it at the time of the retaking or re-entry, or
in separate actions, from time to time, as Tenant's obligation to pay rent would
have accrued if the term had continued, or from time to time, as said damages
shall have been made more easily ascertainable by re-lettings of the premises,
or such action by Landlord may at the option of Landlord be deferred until the
expiration of the term, in which latter event the cause of action shall not be
deemed to have accrued until the date of the termination of said term.
17.02 -- All rents received by Landlord in any such reletting shall be applied
first to the payment of such expenses as Landlord may have incurred in
recovering possession of the premises and in reletting the same, second, to the
payment of any costs and expenses incurred by landlord either for making
necessary repairs to the premises or in curing any default on the part of Tenant
in any covenant or condition herein made binding upon Tenant, and, last, any
remaining rent shall be applied toward the payment of rent due from Tenant under
the terms of this lease, with interest at the highest legal rate, and Tenant
expressly agrees to pay any deficiency then remaining. Landlord, however, at its
option, may refrain from terminating Tenant's right of possession, and in such
case may enforce against Tenant the provisions of this lease for the full term
thereof.
17.03 -- Tenant expressly agrees to reimburse Landlord for any expenses,
including counsel fees, Landlord may incur in enforcing the latter's rights
against Tenant under this lease, including, but not being limited to, the
collection of rent and the securing of possession of the premises.
DEFAULT CLAUSE 17.04 -- The following provision shall override and control any
conflicting provisions of Section 93.002 of the Texas Property Code, as well as
any successor statute governing the right of a landlord to change the door locks
of commercial tenants. Upon any event of any material default by Tenant under
this Lease, Landlord is entitled and is hereby authorized, without any further
notice to Tenant whatsoever, to enter upon the Leased Premises by use of master
key, a duplicate key, or other peaceable means, and to change, alter, and/or
modify the door on all entry doors of the Leased Premises, thereby permanently
excluding Tenant, and its officers, principals, agents, employees and
representatives therefrom. In the event that Landlord has either permanently
repossessed the Leased Premises pursuant to the foregoing provisions of this
Lease, or has terminated this Lease by reason of Tenant's default, Landlord
shall not thereafter be obligated to provide Tenant with a key to the Leased
Premises at any time, regardless of any amounts subsequently paid by Tenant;
provided, however, that in any such instance, during Landlord's normal business
hours and at the convenience of Landlord, and upon receipt of written request
form Tenant accompanied by such written waivers and releases as the Landlord may
require, Landlord will either (at Landlord's option) (i) escort Tenant or its
authorized personnel to the Leased Premises to retrieve any personal belongings
or other property of Tenant not subject to the Landlord's lien or security
interest described herein, or (ii) obtain a list from Tenant of such personal
property as Tenant intends to remove, whereupon Landlord shall remove such
property and make it available to Tenant at a time and place designated by
Landlord. However, if Landlord elects option (ii), Tenant shall pay, in cash in
advance, all costs and expenses estimated by Landlord to be incurred in removing
such property and making it available to Tenant and all moving and/or storage
charges theretofore incurred by Landlord with respect to such property. If
Landlord elects to exclude Tenant from the Leased Premises without permanently
repossessing or terminating pursuant to the foregoing provisions of this Lease,
then Landlord shall not be obligated to provide Tenant a key to reenter the
Leased Premises until such time as all delinquent Rent and other amounts due
under this Lease have been paid in full and all other defaults, if any, have
been completely cured to Landlord's satisfaction (if such cure occurs prior to
any actual permanent repossession or termination), and Landlord has been given
assurance reasonably satisfactory to Landlord evidencing Tenant's ability to
satisfy its remaining obligations under this Lease. During any such temporary
period of exclusion, Landlord will, during Landlord's regular business hours and
at Landlord's convenience, upon receipt of written request from Tenant
(accompanied by such written waivers and releases as Landlord may require),
escort Tenant or its authorized personnel to the Leased Premises to retrieve
personal belongings of Tenant or its employees, and such other property of
Tenant as is not subject to the Landlord's lien and security interest described
herein. This remedy of Landlord shall be in addition to, and not in lieu of, any
of its other remedies set forth in this Lease, or otherwise available to
Landlord at law or in equity.
SUBORDINATION CLAUSE 18.01 -- This lease shall be subject and subordinate at all
times to the lien of any mortgage or deed of trust encumbrances or encumbrances,
which may now or which may at any time hereafter be made a lien upon the
Building of which the premises are a part or upon Landlord's interest therein.
Tenant shall execute and deliver such further instrument or instruments
subordinating this lease to the lien of any such mortgage or deed of trust
encumbrance and encumbrances as shall be desired by any mortgagee or party
secured or proposed mortgagee or party proposed to be secured; and Tenant hereby
appoints Landlord the attorney-in-fact of Tenant, irrevocably, to execute and
deliver any such instrument for Tenant.
TENANT HOLDING OVER 19.01 -- If Tenant shall not immediately surrender
possession of the premises at the termination of this lease, Tenant shall become
a tenant from month to month, provided rent shall be paid to and accepted by
Landlord, in advance at the rate of one and one-half (1 1/2) the rent which
would have been payable to Landlord prior to the termination of this lease; but
unless and until Landlord shall continue to be entitled to retake or recover
possession of the premises as herein before provided in case of default on the
part of Tenant, and Tenant shall be liable to landlord for any loss or damage it
may sustain by reason of Tenant's failure to surrender possession of the
premises immediately upon the expiration of the term of this lease.... If Tenant
shall fail to surrender possession of the premises immediately upon the
expiration of the term hereof, Tenant hereby agrees that all the obligations of
Tenant and all rights of Landlord applicable during the term of this lease shall
be equally applicable during such period of subsequent occupancy, whether or not
a month to month tenancy shall have been created as aforesaid.
WAIVER AND NOTICE 20.01 -- No waiver of any breach of any covenant, condition or
agreement herein contained shall operate as a waiver of the covenant, condition
or agreement itself, or of any subsequent breach thereof.
MISCELANEOUS 21.01 -- The term "Tenant" shall include legal representatives,
successors and assigns. All covenants herein made binding upon Tenant shall be
construed to be equally applicable to the binding upon his agents, employees and
others claiming the right to be in the premises or in said building through or
under Tenant.
21.02 -- If more than one individual, firm or corporation shall join as Tenant,
singular context shall be construed to be plural wherever necessary, and the
covenants of Tenant to be the joint and several obligations of each party
signing as Tenant, and, when the parties signing as Tenant are partners, shall
be the obligations of the firm and of the individual members thereof.
21.03 -- Feminine or neuter pronouns shall be substituted for those of the
masculine form, and the plural shall be substituted for the singular, wherever
the context shall require. It is also agreed that no specific words, phrases, or
clauses herein used shall be taken or construed to control, limit or cut down
the scope or meaning of any general words, phrases or clauses used in connection
therewith.
LANDLORD'S SUCCESSORS 22.01 -- This lease shall likewise be binding upon and
shall inure to the benefit of the parties hereto and their respective heirs,
personal representatives, successors and assigns.
ENTIRE AGREEMENT 23.01 -- This lease contains the entire agreement of the
parties in regard to the premises. There are no oral agreements existing between
them.
NOTICES AND DEMANDS 24.01 -- All notices required or permitted hereunder shall
be deemed to have been given if mailed in any U.S. Post Office by certified or
registered mail, postage prepaid, addressed to Landlord or Tenant, respectively,
at the following addresses or to such other addresses as the parties may
designate in writing from time to time.
24.02 -- Tenant hereby elects domicile at the premises for the purpose of
service of all notices, writs of summons, or other legal documents, or process,
in any suit, action, or proceeding which Landlord may undertake under this
lease.
LATE CHARGES 25.01 -- In the event the rent provided for herein is not received
by the Landlord on the fifth day of each month a late charge equal to ten
percent (10%) of the monthly rental amount shall be due and payable to Landlord.
If rent is mailed, Tenant is responsible for loss or mail delay.
25.02 -- Nothing contained herein shall obligate Landlord to accept the rent
after the first day of the month, nor does Landlord waive any of its legal
rights which may be available for default of Tenant by inclusion of this
provision in this Commercial Lease. In the event Tenant pays its rent by check
and the same is not cashed and paid by bank when presented, for whatever reason,
Tenant shall pay, in addition to any late charges and in addition to the rent, a
charge for each occurrence in the amount of Twenty-Five dollars ($25.00)
QUIET ENJOYMENT 26.01 -- Landlord covenants and agrees with Tenant that upon
Tenant paying the rent and observing and performing all the terms, covenants and
conditions, on Tenant's part to be observed and performed, Tenant may peaceably
and quietly enjoy the premises hereby demised, subject nevertheless, to the
terms and conditions of this lease, and to the mortgages and deeds of trust
herein before mentioned.
GOVERNING LAW 27.01 -- This lease shall be construed and governed by the laws of
the state of Texas in which the premises are situated. Should any provision of
this lease and/or its conditions be illegal or not enforceable under the laws of
the said state, it or they shall be considered severable, and the lease and its
conditions shall remain in force and be binding upon the parties as though the
said provisions had never been included.
FIXTURES 28.01 -- Tenant shall, upon the expiration or sooner termination of the
lease term, surrender to the Landlord, together with the leased premises, any
and all replacements, changes, and additions thereto, and fixtures and
improvements constructed or placed by Tenant thereon, with all equipment in or
appurtant thereto, except trade fixtures removable without material damage to
the premises. Any such removable trade fixtures or personal property belonging
to Tenant or to any assignee or subtenant, if not removed at such termination
and if the Landlord so elects, shall be deemed abandoned and become the property
of the Landlord without any payment or offset therefore. If the Landlord shall
not so elect, the Landlord may remove such fixtures or property from the
premises and shall repair and restore, and save the Landlord harmless from, any
and all damage to the lease premises caused by such removal, whether by the
Tenant or by the Landlord.
NO SMOKING PROVISION 29.01- Smoking is strictly prohibited inside the building.
However, it is permitted in the courtyard and along the outside walkways.
FAILURE TO COMPLY WITH THIS WILL BE DEEDED TO BE AN ACT OF DEFAULT ON THE LEASE
AND LANDLORD WILL HAVE THE RIGHT BUT NOT THE OBLGIATION TO TERMINATE THIS LEASE.
TIME OF ESSENCE 30.01 -- Time is of the essence in this lease.
Signed this _____________ day of ______________, 2000.
TENANT: LANDLORD:
BY: /s/ David Summers BY:/s/ Philip LeFevre
Dr. David Summers
Endovasc Ltd., Inc. Philip LeFevre, Trustee
15001 Walden Road, Suites 234 & 235 15001 Walden Road, Suite 203
Montgomery, Texas 77356 Montgomery, Texas 77356
DATE:__________________________ DATE:_______________________