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Home My WebLink About0843 ? - . . • . ~ ~ ~ E~ HERMA ~L LT 0 CO1~~:MERCIAL PRODUCTS LEASE ~ - ~ ~ T r Leau aaceemcnt made l~(s~y of+it~~9~Tbetvree~ Thc~ma5o1 Ctd., a Delawarc Coryorati n an o~ice at 101 Park s QM uAft F 1~l.1AfT 6 A~D+4 N A/ f Ave., New Yock, New Yor~, 10017 hrreinaEter ceferred to as Lesso~ and ~ . A(Cocpontion) (Putnershtt) (Pmprietonhip) located at µ O 5~14~F ~ D 8'~{~ ~c~, ot F~!-~4NDt~~i4uE i ~ ro~„~~y of Q~(,~ ~eD 4tate of hereinafter referted to as Casce. Now therefore, tn cons(dentioe of the Mutual Prom- ~ ises mntained he~ein the tessor and Lessre hercby aEree to as follow~: . 1. The teuor will pay for aU the cost of eyuipmmt and installatio~ oE Therma5ol's In-Room Steam Baths System "Equipment" ti~ted below. Theceafter the Lessee may add a minimun~. oE f3.00 additional to its daily rates. The Lessee shaU pay to the Lessor 51.50 peloccupied RooaJSuite per day as set forih bcbw. However, the t-uee will not be obliasted to pay morc than f~5.00 per month per Room/Suite if the Equipmec~t is in• ~ staUed. tessee auy from time to time lease addittonal Equipment fmm lasor as mutually aarecd by Lessee's execution u?d Lessoi s acceptance ~ of addttional "Equipment Lease" asceement. 2. The Equipment le sed hercunder is follo?vs and will be insta ed ith Steam th Oper1 ty'+~yCo~trols i,nL~Bathrooms lxated in Rooau Numbercd: ~r~5~.~ `S' ~V O -Z ~ ~~S~~~I " / 6 4'I l0 T in premises located a~ ~ 1 ouunm o[xa?no?i 12. TH~E~P~( ~}5 o c. 5 ~l ~ . 3. Upon the acpiration of the term of this Lease or any renewal period thereof if the Lessee is and has been in fup compliance with_ all the terms . of this Lease, the [essce may purchase all L4e Equipment for S98.00 per ThermaSof-Equipped Room, which the Lessee acknowledges as being ; the hir purchase price, provided tAe Lessee has Eiven written notice to tAe Lessor of its electioo to purchau the Equipment at least ninety days ~ prior to the expiration of the term of this Cease or a~y rcnewal period thereof. lessor shall ddiver the Equipment "where is" !o tfie Lessee and give to lessee a bill of sale for said Equipment "as is" without arty wananties, cxpress or implied, u to any matter whatsoevcr, including without f limitation, the condi?ion of tl~e Equipment, its merchantability or BMess for any particular use or purpose- . 4. Lawr shall notify the tessee by letter of the date of completion of the initial installation and of all supplementary installatio~s. Rentals for this installation will rnmmence from that date. tessce shali pay Lessor at the office of Lessoc In New York, New York, or. at such other place as Leswr may hereinafter designate, Ux sum of 51.50 per day for each of the above rooms Eor each day said tooms are being occupied where ; Lcssor has installed its Steam Bath Equipment on or before the 6Eth d~y of the followinE awnth. In addition to the monthly payments to be ~ made, Lessee shall mmplete and retum monthly occupancy forms to Se supplied by the Lessor. These forms are to be rcturned monthly, whether ~ or not any occupancy has occurred. Lessor acknowledges that a failure ro complcte and retum to Lessee occupancy Eorms on a monthly basis is a F material brcach of the terms of this lease. F 5. l.essor represents that it maintains and shall continue to rtuintain the following insurance on the units installed purswnt to this Lease: Products Liabiliry: S 500.00('.00 Each Person Bodily Injury: S SOO.U00.~0 Each Person 3 51,000,000.00 Each Occurrence f1,000,000.00 Each Occurrence Property Damage: S 100,000.00 Each Occunence Water Damage: S 100,000.00 Aggrcgrate ; S 100.000.00 Aggregnte ; 6. teswr agrces to install the Equipment described above in the transient rooau, rental units and/or other locations as listed above. Lessor hereby ~ leases said installed Equipment to lessee for a period of eight years from the date when the said insWllation has been completed.The Lease shall be ~ automatically renewed Eor separate periods of twelve (12) months thereafter, unlas Lessee shall notify Lcssor in writing at feast ninety (90) days before the termination of the Lease or any renewal period thereof. - 7. No tight, title or interest in tht leaud Equipmmt shall pass to Lessee. Leswr shall have the right to place upon said Equipment any plates or = markings indicating that tessor is the owner thereof_ ~ 8. Lessee represents that it is either the owner of the real property in which the Equipment will be installed or is entitled to lawful possession thereof for the term of lhis Lease and that in either capacity it has the right to enter into this Lease. As owner or as a person entitlcd to possession of the real property as just stated, Lessee agrees that nen though the Equipment may be attached or affixed to the realty it sha1) not be deemed fixtures, but shall always rcmain and be the personal properry of Leswr. a. The Lessce represents that its occupancy has been approximately annually. i THIS LEASE IS SI:BJECT TO THE TERh1S Ai~TD CONDITIOIvS CONTIIVUED ON THE REVERSE SIDE 1VHICH ARE \iADE A PART HEREOF ~ I AND ~YEIICN I.ESSEE ACKIVOWLEDGES HE HAS READ. ; ~ THI515 A I~ON-CANCELLABLE LEASE. ~ ~ ACCEP'I'ED: DATE ~hV ~ oZ .19~.L ; ~ `~Atl'~'D/4 1 ~ii?: ; LESSEE ~ THERM L ITD., essor ~ 19 THE UNDERSIGNED AFF(RMS THAT HE IS A DULY AUTHORiZED CORPO TE E, PAR ER OR BY - PROPR OF BO LE . ' . By LESSEE'S Si RE M INK ~ REQUTRED ON PAGES 1, 2, 3 d~ 4 LEASE ORIGINAL-1 Title: ~ _ : ~ PLE.ISE NOTE: THIS LEASE SHALL NOT BE BINDING ON LESSOR UNTIL SiGNED BY ONE OF iTS EXECUTIVE OF'~7CERS. ~ ~ ~ ~ ~ ' 3 ~ ~ ~ ~ ~ ~ ~ - • " ~ ~ E ~ i 2~S PAGE ~ x _ ~ a • . ~ € ] C ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ r ; ~ _ . . . . . . _ R. ~ `_'~.s__~ ~ e , . . _ ~