THE WORX OFFICES EXECUTIVE SUITES TERMS & CONDITIONS
1. LEASE AGREEMENT. The Worx Offices is the only entity that will always preserve jurisdiction andownership of the Premises. No LESSEE will by this agreement be entitled to any Property Interest of any kind. ThisLease Agreement only permits LESSEE, so long as LESSEE adheres to all terms, conditions, covenants and provisionof this Agreement the right as described in the front page under “Premises Included Services”. This Lease shallextend to and bind the parties, their heirs, assigns, except as herein provided, personal representatives andsuccessors in interest. Lease agreement is non-assignable without LESSOR’S written consent. LESSOR (The WorxOffices) reserves all rights to conduct a background check to all Tenants.
1.a. LESSEE GOOD STANDING. LESSEE shall provide current and valid identification at the time executing thelease agreement to lessor. In the event LESSEE is a Company, Corporation, Limited Liability Company, Scorporation or other allowable entity to operate in the US, such entity needs to be current on their registration andvalid to operate with all necessary licenses and other permits current. Any individual signing this lease agreementin representation of the business entity responsible for the lease needs to provide proper documentationvalidating it is authorized for engaging in this lease agreement in the name of such business entity. LESSORreserves the right to perform a background check to all applicants for office solutions.
2. LEASE TERM AND RENEWAL.The term of this agreement is that stated in the front page and will be renewed automatically for equal successiveperiods. Upon expiration, cancellation or termination of this Lease, however caused, the possessory right to thePremises and any improvements made by the LESSEE to the Premises, shall be vested in LESSOR, or its successorsor assigns. If either LESSOR or LESSEE decide to terminate the Lease Agreement at the end of the Lease period orany of its renewals, it must notify the other party in writing with sixty (60) days advance notice for 12-monthleases or more. If less than a 12-month lease agreement, then the notification shall be within thirty (30) days inadvanced. In the event such notice is not received during the stipulated timeframe herein, then LESSOR at its owndiscretion may decide to renew the agreement PLAN and recurring Additional Services will renew for an additionalterm of the same length or terminate the agreement and offer the premises to another potential LESSEE. LESSORmay increase the Rent and extra services fees each and every anniversary of the start date of this agreement. AllLease terms shall end on the last day of the month in which they would otherwise expire.
3. LEASE PAYMENTS. Lease payments for the The Worx Offices Membership Plan and for any AdditionalServices chosen by the LESSEE from the Exhibit “B”, respectively, shall be due in advance the 1st day of eachmonth. If the Lease commencement date is other than the first day of the month, the first month’s rate leasepayment shall be prorated for the month based upon a calendar month of 30 days and reflected in the LESSEE’sinitial invoice. LESSEE will pay an additional fee of $50.00 (fifty dollars) for any check returned due to insufficientfund, stopped payment or other. Billing invoices will be sent electronically to protect the environment, unlessotherwise specified by the LESSEE. LESSEE may pay by check or make payments by an automated method such asCredit Card, Direct Debit, Zelle and/or Direct Deposit wherever banking systems permit. Cash payments are notaccepted. Credit Card payments are subject to a 3% charge. As a condition for this Agreement, LANDLORD (TheWorx Offices) requires LESSEE, and LESSEE agrees, to maintain a current bank account, credit card, or debit cardon file to be used for automatic payments for all amounts due under this Agreement. LESSEE must agree to theprovide this information prior to Lease commencement and when required by an authorized person from TheWorx Offices as needed in the event the current payment method is not working. If LESSEE does not comply withthis requirement for which it has agreed upon, then The Worx may immediately terminate this Agreement at itsdiscretion and reserves its rights to claim payment for the remaining unpaid balance up to the maturity of thisLease Agreement.
4. LATE PAYMENT FEES. Rent and extra services fees from the previous month are to be collected within atime period of no more than ten (10) days from the rent due date as stated in the present agreement not to be
5. SECURITY DEPOSIT. LESSOR will hold as security deposit the amount stated on the front page. If LESSEEfully complies with all the covenants, agreements, terms and conditions of this Lease, LESSOR shall refund depositno later than (15) days after the expiration date of Lease. If LESSEE violates any of the terms of this Lease, thenLESSOR may apply all or a portion of the security deposit, as necessary, to cure the violation and compensateLESSOR for damages and losses suffered as a result of the violation by LESSEE. In case that damages exceed theamount of the deposit LESSEE will be required to furnish the additional required funds to cover it fully. LESSORshall not maintain a separate account for the deposit and shall not be required to pay LESSEE interest on thesecurity deposit.
6. PREMISES USE. LESSEE shall use premises for office purposes and conduct business in compliance with allrelevant present and future laws, regulations and ordinances of all governmental authorities having jurisdictionover the premises. Office use for businesses that entail a heavy traffic of visitors is not allowed. Utilizing theservices and/or amenities provided by LESSOR for any illegal activity, whatsoever, shall be grounds for accountimmediate termination. LESSEE shall not use hazardous or toxic materials, create a disturbance, nor cause orcommit any activity that may interfere with the Business Center and use of it by others or that creates a hostilework environment for clients and/or employees. LESSEE may not alter the existing office space in any way, shapeor form nor sublease the Premises without a written consent from LESSOR.LESSEE may only coordinate an event or gathering at the Private terrace and/or common areas with the explicitwritten authorization from LANDLORD in advance and by executing a separate agreement for this purpose andpaying associated fees in advanced. In the event LESSE conducts an event or gathering without the prior writtenauthorization from LANLORD then this should be cause for immediate termination of the lease and loss of securitydeposit by Tenant for infringement in addition to all balances due.
7. ACCESS TO BUILDING. Access to the Building is 24/7 for Executive Suites LESSEES.
8. MAINTENANCE BY LESSEE. LESSEE shall not perform any act, which may injure the building, existingequipment, furnishings, fixtures and art in any of its areas. LESSEE shall keep the common areas and its officespace clean and dispose waste at the designated areas within the premises. LESSEE may not adjust or tamper withany mechanical devices controlling the HVAC system. No pets are allowed at the premises at any time.7. ACCESS TO BUILDING. Access to the Building is 24/7 for Executive Suites LESSEES.
9. ACCESS TO LESSEE OFFICES. LESSOR may need to access LESSEE offices and may do so at any time in caseof emergency without notice. However, to make repairs, routine maintenance, required inspections, except for theregular cleaning service, LESSOR will attempt to give LESSEE advance notice by e-mail or verbally. At all times,LESSOR will seek to protect LESSEE’S confidentiality by putting in place reasonable security measures or having amember of LESSOR staff present, at these occasions.8. MAINTENANCE BY LESSEE. LESSEE shall not perform any act, which may injure the building, existingequipment, furnishings, fixtures and art in any of its areas. LESSEE shall keep the common areas and its officespace clean and dispose waste at the designated areas within the premises. LESSEE may not adjust or tamper withany mechanical devices controlling the HVAC system. No pets are allowed at the premises at any time.7. ACCESS TO BUILDING. Access to the Building is 24/7 for Executive Suites LESSEES.
10. MAINTENANCE BY LESSEE. LESSEE shall not perform any act, which may injure the building, existingequipment, furnishings, fixtures, and art in any of its areas. LESSEE shall keep the common areas and its officespace clean and dispose waste at the designated areas within the premises. LESSEE may not adjust or tamper withany mechanical devices controlling the HVAC system. No pets are allowed at the premises at any time.9. ACCESS TO LESSEE OFFICES. LESSOR may need to access LESSEE offices and may do so at any time in caseof emergency without notice. However, to make repairs, routine maintenance, required inspections, except for theregular cleaning service, LESSOR will attempt to give LESSEE advance notice by e-mail or verbally. At all times,LESSOR will seek to protect LESSEE’S confidentiality by putting in place reasonable security measures or having amember of LESSOR staff present, at these occasions.8. MAINTENANCE BY LESSEE. LESSEE shall not perform any act, which may injure the building, existingequipment, furnishings, fixtures and art in any of its areas. LESSEE shall keep the common areas and its officespace clean and dispose waste at the designated areas within the premises. LESSEE may not adjust or tamper withany mechanical devices controlling the HVAC system. No pets are allowed at the premises at any time.7. ACCESS TO BUILDING. Access to the Building is 24/7 for Executive Suites LESSEES.
11. DAMAGE OR LOSS CAUSED BY OTHERS. LESSOR shall not be liable to LESSEE and LESSEE hereby waivesall claims against LESSOR for any injury or damage to any person or property whatsoever, except to the extentcaused directly by the negligent act or omission of LESSOR. LESSEE shall indemnify, hold LESSOR harmless from,and defend LESSOR against any and all claims, costs, loss, damage, expense or liability, including without limitationattorneys’ and other professionals’ fees ("Claims"), for any injury or damages to any person or propertywhatsoever, when such injury or damage has been caused in whole or in part by the act, neglect, fault or omissionof LESSEE, its agents, employees or guests. In addition, if any person not a party to this Lease shall institute anyother type of action against LESSEE in which LESSOR, involuntarily, and without cause, shall be made a partydefendant, LESSEE shall indemnify, hold LESSOR harmless from and defend LESSOR from all Claims by reasonthereof. LESSOR is not responsible for any damage to person or property owned by LESSEE, its guests, visitors andother associated individuals. LESSOR is also not responsible, however, for loss, theft or disappearance of anyLESSEE’s property.
12. INSURANCE. LESSEE is responsible and highly recommended to acquire an insurance to cover its propertythat he brings to the premises and for its own liability to its employees, business center employees and other thirdparties as well as for loss of business, profits, anticipated savings, loss of or damage to data as LESSOR will not,under any circumstances be held liable for any of the here mentioned losses.
13. NO WAIVER. The failure of LESSOR in one or more instances, to insist upon strict performance orobservance of one or more covenants or conditions hereof or to exercise any remedy, privilege, or option reservedto LESSOR, shall not be constructed as a waiver of the future of such covenant or condition or the right to enforcethe same or to exercise such privilege, option or remedy. The receipt by LESSOR of fees or any other paymentrequired to be made by LESSEE or any part thereof, shall not be a waiver of any other amount of unpaid fees orother amounts then due, nor shall such receipt, although with knowledge of the breach of any covenant and/orcondition hereof, operate as or be deemed to be a waiver by LESSOR of any of the provisions and/or conditionshereof, or any LESSOR’s rights, remedies, privileges or options hereunder.
14. CONFIDENTIALITY. LESSOR and LESSEE shall, at all times during the term of the Lease and thereafter, usetheir reasonable efforts to safeguard the secrecy of any of the other party's confidential information that may comeinto their possession but shall not include information of which the other party is aware, or which becomesgenerally available to the public other than as a result of (i) disclosure by such party in breach of this Lease, (ii) thebreach by such party of its obligations under this Lease, or (iii) disclosure by any person or entity in violation ofsuch person or entity’s duty of confidentiality to LESSOR or LESSEE, or any of their respective affiliates orsubsidiaries (after such party becomes aware of the duty of confidentiality). This provision shall be enforceable fora period of three (3) years after termination of the agreement. The terms of this agreement are confidential andcannot be disclosed without the other party’s agreement.
15. MAIL FORWARDING. All tenants must provide a valid ID to use service. No package and/or mail shall beforwarded until valid ID has been provided and background check has been conducted. Any fees incurred to obtaina background check shall be the responsibility of the LESSOR..
16. PARTIAL OR TOTAL DAMAGE TO THE PROPERTY. In the event any portion of the Premises or theBuilding should be damaged by fire, wind, flood or other casualties, LESSOR within fifteen (15) days after damagemay elect, at its sole discretion, to terminate this Lease or notify LESSEE of LESSOR’s intent to repair the Premisesto its original conditions, in which event the Rent shall abate only to the extent and for the period of time in which
17. PARKING. LESSEE its guests and visitors shall park at the available parking provided. LESSOR shall not beresponsible for any damage or injuries to LESSEE, its employees, its guests, their vehicles or personal belongingsleft inside. LESSEE agrees to use the parking area for the only intended purpose of parking its vehicles duringreasonable periods of time when LESSEE is at the building and not for storage or any other purpose. In the eventthat LESSEE does not comply with this provision LESSOR will have the right to remove the vehicle from itspremises at owners’ expense. NO overnight parking allowed
18. LESSEE’S INSTRUCTIONS. Exhibit A-1 encompasses both the LESSEE’s options for precise instructions onanswering services and the instructions on where LESSOR shall send LESSEE’s mail when LESEE is away for aprolonged period of time other than the default address that appears in the front page of the lease agreement; alsoits preferred forwarding method such as LESSEE personal or a business courier account. Otherwise, mail will besent by standard USPS mail and the corresponding mailing fee will be charged to lessee’s monthly lease bill.
19. ADDITIONAL SERVICES. Charges for Additional Services as shown in Exhibit “B” plus taxes must be paidthe within the month in which they were enjoyed. Such payment should be paid separately and in addition tomonthly rental fee under the same terms and conditions.
20. INTERNET SERVICES. LESSEE shall undertake the use of such Internet services in accordance to LESSOR’sInternet service provider acceptable use policy, contained as part of the “Internet Standard Terms and Conditions”,included hereof. Any violation of the provisions of the Internet Standard Terms and Conditions by the LESSEE shallconstitute a default under this Agreement. The Internet Service provided by LESSOR is solely for the purpose ofscanning the World Wide Web, exchange of e-mail, download and upload of acceptable files as per theInternational, Federal, State and local government regulation. It is not intended to be used to host web sites,operate a client server, utilize Microsoft Exchange Server or other similar products. LESSEE will be responsible tohave its employees and guests with the above-mentioned provisions when LESSEE, its employees and guestsconnect to the Building’s Internet network; they become part of the Building’s network. Therefore, it is necessarythat all individuals protect their computers, smartphones, tablets, etc to prevent access to any of their connecteddevices and information contained within. LESSOR recommends each computer to have an updated antivirusprogram installed. LESSOR has the right to prohibit the use of wireless routers in the Building. The connection tothe Internet service will be made available only through a hub or a router controlled by LESSOR. LESSEE isprohibited from installing additional equipment or software that will permit connection to the Internet withoutLESSOR’s written authorization. In order to prevent viruses or misuse of the Building’s Internet network, LESSORmay from time to time request a copy to each user of the last activity log. LESSOR should be hold harmless for anydamage to LESSEE, its employees or its guests’ computer and any other device connected to the LESSOR’S networkwhen using the Building’s Internet network as well as the use of the Internet connection by any of the users for anyactivity considered illegal, fraudulent or against the acceptable standards by Internal, Federal, State or local laws.LESSOR will always make every effort to provide a steady and reliable Internet connection. In the event of servicefailure for whatever reason, LESSOR shall not be kept responsible, nevertheless should do its best commercialeffort to reinstate service as soon as possible.
21. INTERNET STANDARD TERMS & CONDITION. Internet Use Policy set forth below defines practices thatare unacceptable while using the LESSOR’s provided services that provide access to the Internet via LESSOR’sInternet network. By using any of the services LESSEE, its employees and guests acknowledge that all of theaforementioned need to comply with standards terms and conditions defined hereof:Spamming:
• Posting ten (10) or more messages similar in content to forums, email mailing lists or other similar groupsof lists.
• Sending unsolicited emails to more than 25 different email users, if such unsolicited emails couldreasonable be accepted to provoke complaints.
• Falsifying user information provided to LESSOR or to other user of the services in connection with the useof the Internet services.Network Disruptions and Network Unfriendly Activity:
• LESSEE shall restraint himself, employees or guest from performing any activity that may affect adverselythe ability of other users to use the network appropriately.
• Interference or disruption of other users, network services or network equipment.
• Sending unsolicited emails to more than twenty-five (25) email users, if such unsolicited email couldgenerate an inconvenience to any of the recipients.
22. CONFERENCE ROOM & OFFICE SPACE ACCESS. LESSEE must coordinate at Reception or thru thescheduling application with a minimum of 24 hours in advance the booking of the conference rooms and officespace availability. The number of hours assigned to LESSEE shall be used on such month and they are notaccumulative. In the event LESSEE requests to book any of the available conference rooms and/or office space formore than the time included under the Lease Agreement, each hour will be charged at the cost listed in Exhibit “B”.A walkthrough before and after use of both mentioned spaces will be conducted to determine their condition andLESSOR’s right to claim a fee in the event of damages to any part of the installations
23. COLLECTION. LESSOR reserves the right to withhold services including denying LESSEE access to thepremises until outstanding fees over thirty days plus the 1.5% monthly interest are paid. If the LESSOR must hirean attorney to collect outstanding amounts, the amount of such reasonable attorney fees and costs will be added tothe amount due.
24. PROPERTY LEFT ON THE PREMISES. All property left at the Premises by LESSEE at the expiration of theTerm or any earlier termination hereof, shall be deemed abandoned by LESSEE, and LESSOR may at its solediscretion remove such property from the premises and store or dispose at LESSEE’s cost. Upon termination of thisagreement, it is LESSEE’s responsibility to notify all parties of LESSEE’s new mailing address and phone numbers.LESSOR will have no obligation to forward mail at this point and will bill LESSEE for any service to forward mailand any postage fees incurred after vacating the premise. LESSEE must not submit a change of address form to theUnited States Postal Service upon departure; as such action may interfere with normal mail delivery to LESSOR. Inthe event LESSEE does not provide full payment within Thirty (30) days and its personal property remain at theproperty, then LESSOR may dispose of them as it sees fit.
25. EARLY TERMINATION: LESSEE agrees to lease the office space listed herein from LESSOR as per the termsand conditions listed in the front page and the terms and conditions listed in this Lease Agreement, at the monthlyrate specified, without deduction. Occupancy for less than the agreed lease term for any reason, shall causeLESSEE to forfeit the Security Deposit, and accrued interest if any, solely as Liquidated Damages for LESSEE;sfailure to perform this Contract, and shall be strictly enforced. In addition, the remaining balance of the agreedtotal amount to be paid in the maturity of the Lease Agreement shall become immediately due and LESSEE shall beresponsible to pay to LESSOR Immediately. LESSOR may terminate this agreement immediately with no furtherconsequences in the event LESSEE does not comply with the terms and conditions abiding this agreement.
26. NOTICES. All notices, elections, and demands required or permitted to be given hereunder shall be inwriting and shall be personally delivered or sent by the United States certified mail, return receipt requested, toLESSOR and LESSEE addresses in front page upon termination of this agreement.
27. USE OF COMMERCIAL ADDRESS: LESSOR’s commercial address in its entirety, but not limited to, marketing material, website, Google’s Geolocation,bank accounts, Florida Division of Corporations, business cards and others. LESSEE has up to thirty (30) days toremove the Lessors address as a reference for his business as described above. Shall LESSEE do not comply withthe above referenced then LESSOR shall have the right to to take legal actions against LESEE as permitted by thelaw. LESSEE shall indemnify, hold LESSOR harmless from, and defend LESSOR against any and all claims, costs,loss, damage, expense or liability, including without limitation attorneys’ and other professionals’ fees ("Claims"),for any damages related to the misuse of the commercial address.
28. LIMITATION OF SERVICES TO BE RENDERED BY LESSOR: Neither LESSOR nor its personal is authorizedto receive agreements or other documentation left at the reception which is not enclosed in a sealed envelop. Inaddition, it will not provide legal advice to LESSEE or its guest.
29. FORCE MAJEURE. If LESSOR shall be delayed or prevented from performance of any act requiredhereunder and which are beyond LESSOR’S control such as but not limited to strikes, power outage, Internet andtelephone service failure, then LESSOR’S shall not be held liable for its inability to perform during the time thatsuch acts persist.
30. GOVERNING LAW. This Agreement, is interpreted and enforced, regulated by the laws of the State ofFlorida and all parties agree that litigation arising from this agreement shall be in the county where Premise islocated.
31. ENTIRE AGREEMENT. This Lease is the entire agreement of the parties with respect to the subject matterhereof. This Lease may only be modified in writing signed by the party to be bound.
32.DEFAULT: Tenant shall be in default under this Lease if it fails to (i) make timely payments of Lease. Paymentsor any other sums due hereunder, or (ii) faithfully observe all terms, covenants, rules and regulations contained inthis Lease or such other and further rules or regulations as may be hereafter made by Landlord. All payments dueto Landlord under the Lease besides Lease Payments are further defined as additional rent.In the event of a default by Tenant for failure to pay Lease Payments or any additional rent and payments dueunder then Lease Landlord may post a notice pursuant to Florida Statutes, Chapter 83.20(2) and upon expiration ofsaid notice, Landlord may proceed with filing an action for possession and damages in Broward County for removalof the Tenant.In the event of a default for failing to timely vacate by the termination date, the Tenant shall be deemed a holdovertenant owing double in monthly Lease Payments and Landlord may proceed immediately with filing an action forpossession and damages in Broward County for removal of the Tenant.In the event of a default for any other default under the Lease besides non-monetary, Landlord may post a noticepursuant to Florida Statutes, Chapter 83 to cure and upon expiration of said notice, Landlord may proceed withfiling an action for possession and damages in Broward County for removal of the Tenant. In the event of anydefault by Tenant remaining uncured past any applicable cure period, Landlord may immediately (1) apply theSecurity Deposit, if any, toward the satisfaction and cure of such a default, and/or (2) terminate this Lease uponwritten notice to Tenant and/or exercise any other remedies otherwise available to Landlord provided herein or atlaw or in equity. In connection with the foregoing, if Landlord so elects, it may sell any personal property of Tenantat public auction or private sale and apply the net proceeds to the payment of all sums due to Landlord fromTenant, if any, and pay over the balance to Tenant. All rights and remedies.
33. ACCELERATION CLAUSE AND DAMAGES: In addition to all other rights granted to Landlord in this Lease andnot as a limitation of said rights, in the event of a termination and/or default by Tenant, Landlord shall have theright and option to accelerate all Lease Payments and additional rent due hereunder.
34. REVISION OF TERMS AND CONDITIONS BY LANLORD. LANLORD at his sole discretion may revise theseterms and conditions from time to time and such revised terms should be updated on all existing leases and thenew version shared and adopted by all LESSEES.
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1- MAIL COLLECTION AND FORWARDING INSTRUCTIONSMail brought by US mail will be sorted and handed to LESSEE or handed at LESSEE’S office space as soon as itarrives at THE WORX OFFICES. It is the Lessee’s responsibility to pick up its mail at its office space. If LESSEE is tobe away for a long period of time, collected mail maybe forwarded to the address that appears in the leaseagreement. A $9.99 administrative fee plus the corresponding standard US mail forwarding fee will be charged.Lessee has the option to provide us hereunder with a personal or a business courier’s account such as FedEx.Alternative Forwarding Addres Courier’s name and account number
2- MAIL NOTIFICATION INSTRUCTIONSLessee may choose from EXHIBIT B the notification package of its preference. Lessee has the option to tailor itsmail notifications according to its priorities. ONLY courier boxes or packages will be notified free of charge andthey will need to be picked up within 72 hours, otherwise a daily $25 fee will apply. Lessee shall inform The WorxOffices on the precise notification handling procedures in the space below:
The undersigned, hereinafter referred to as “Guarantor,” for himself/herself, his/her heirs, personalrepresentatives, successors and assigns, in order to induce the above-referenced Landlord to enter into the Leasefor the above-referenced Premises (as may be amended from time to time, the “Lease”) with the above-referencedTenant, hereby, jointly and severally, unconditionally guaranties to Landlord, along with Landlord’s successors,participants, employees and/or assigns, the performance and full and prompt payment by Tenant, when due, byacceleration, or otherwise, of any and all obligations and indebtedness arising under the Lease. This is a continuingguaranty and shall remain in effect notwithstanding any renewal, modification, extension or amendment of theLease or the release, substitution, or addition of one or more Guarantors.Guarantor acknowledges that upon default of Tenant of any obligations under the terms of the Lease,Guarantor shall, immediately, and without the necessity of a written or verbal demand, pay to Landlord thefollowing:1. All accrued and unpaid amounts due under the Lease, including, but not limited to, rent, late fees, penaltiesand equipment fees or damages occurred to the Premises as of the date of Tenant’s breach of the Lease, as well asall amounts due and accelerated under the Lease through the termination date as stated on the lease front page,including, but not limited to, rent, late fees, penalties and any fees incurred as a result of Tenant’s actions; and alldamage sustained by Landlord to the rental unit, all common areas, and the building, caused by any act, negligence,carelessness, or improper conduct of Tenant or any person in the employ or under the control and direction of theTenant.2. Guarantor agrees to pay reasonable attorneys’ fees and all other costs and expenses that may be incurredor expended by Landlord in the enforcement of Tenant’s and/or Guarantor’s obligations to Landlord, whether suitbe brought or not, and if suit is brought, then for all services in trial and appellate courts in a venue where thePremises are located. Guarantor does hereby waive any and all rights to trial by jury in respect to any and alllitigation that may arise hereunder or result from, or in connection with, the Lease executed by Tenant or thisGuaranty Agreement.This Guaranty shall continue in effect notwithstanding the death of Guarantor (whose estate shall be bounduntil receipt of such notice), the release of any other Guarantor, or the dissolution, liquidation, termination ofbusiness of Tenant, until all of Tenant’s obligations and indebtedness under the Lease shall have been fullyperformed and paid. Guarantor acknowledges that Landlord has been induced by the Guaranty to enter into theLease with Tenant thereby giving Tenant a leasehold interest in the above referenced space, and that Landlordwould not have entered into the Lease without this Guaranty. Guarantor represents and warrants to Landlord thatGuarantor will be benefited by Landlord entering into the Lease with Tenant. This Guaranty shall without furtherreference or assignment, pass to, and may be relied upon and enforced by, any successor or participant or assigneeof Landlord.Capitalized terms not otherwise defined herein shall have the definitions ascribed thereto in the Lease. As usedherein, the word “person” shall mean and include where appropriate, any individual, corporation, partnership orother entity; the plural shall be substituted for the singular, and the singular for the plural, where appropriate; andwords of any gender shall mean and include any other gender.