I believe Islechem rents space - as noted in this NanaDynamics, Inc. filing.
<DOCUMENT>
<TYPE>EX-10.16
<SEQUENCE>20
<FILENAME>y34326exv10w16.txt
<DESCRIPTION>EX-10.16: LEASE AGREEMENT
<TEXT>
<PAGE>
Exhibit 10.16
LEASE AGREEMENT
THIS LEASE AGREEMENT dated as of the 1st day of July, 2006 by and between
IsleChem, LLC (hereinafter called "Landlord") and NanoDynamics Inc.,
(hereinafter called "Tenant").
FIRST: (a) Premises. The Landlord has leased, rented, let and demised and
by these presents does lease, rent, let and demise unto the Tenant and Tenant
does hereby take and hire, upon and subject to the conditions hereinafter set
forth, a portion of the premises located at 2801 Long Rd., Grand Island, NY
14072 (Laboratories 203A, 205, 207 and 209 and Office 231, as more particularly
described on the floor plan outline annexed hereto as Exhibit "A") (the
"Premises"). The entire site owned by Landlord located at 2801 Long Rd., Grand
Island, New York of which the Premises are a part, including all improvements
thereon, shall be called the "Property"
(b) Term. The term of this Lease shall commence on July 1, 2006, and shall
expire on June 30, 2007, at 12 o'clock midnight, unless the term is sooner
terminated as provided herein (the "Term").
SECOND: Rent, Additional Rent. The Tenant agrees to pay the Landlord, at
Landlord's office in the Property or at such other address as may be designated
by Landlord, the rent ("Rent") in U.S. legal tender of $8,625.00 per month,
payable on the first day of each and every calendar month during the Term. A
late charge in the amount of five percent (5%) will be due and owing on the Rent
and any "Additional Rent" (as such term is hereinafter defined) not paid by the
15th day of the calendar month in which due.
<PAGE>
Simultaneously with the execution of this Lease, Tenant shall maintain a
deposit with Landlord in the amount of $8,625.00 as a security deposit (the
"Security Deposit"). The Security Deposit (which shall not bear interest to
Tenant) shall be considered as security for the payment and performance of the
obligations, covenant, conditions and agreements of Tenant contained herein. The
Security Deposit shall not constitute an advance payment of any amounts owed by
Tenant under this Lease, or a measure of damages to which Landlord shall be
entitled upon a breach of this Lease. Landlord may, without prejudice to any
other remedy, use the Security Deposit to the extent necessary to remedy any
default in the payment of Rent or Additional Rent or to satisfy any other
obligation of Tenant hereunder, and Tenant shall promptly, on demand, restore
the Security Deposit to its original amount.
05/04/2007 EX-10.16 of S-1 for NanoDynamics Inc
sec.gov |
