Lease Agreement 593 Washington St, Abington, Ma

Exhibit 10.8


AGREEMENT AND LEASE made this date of November 1995, by and between NORTHEAST TERMINAL ASSOCIATES, LIMITED, of 795 Plymouth Street, Holbrook, MA 02343, hereinafter called "Landlord", and ABINGTON SAVINGS BANK, of 533 Washington Street, Abington, MA 02351.


WHEREAS, the Landlord owns a parcel of land at 538 Bedford Street, Abington, Massachusetts, and


WHEREAS, the Tenant is desirous of leasing said parcel of land to be used for office space and the Landlord is willing to lease said property to said Tenant,


NOW, THEREFORE, the parties agree as follows:


LEASED PREMISES


The Landlord hereby demises and leases unto the Tenant the following described parcel of land located at 538 Bedford Street, Abington, Plymouth County, Massachusetts consisting of 2.45 acres and the buildings thereon.


I. USE FOR PREMISES


The demised premises are to be used by the Tenant for office space.


II. TERM OF LEASE


The term of this lease shall be for two (2) years commencing on January 1, 1996 and ending on December 31, 1997. The Tenant shall thereafter hold said premises hereby leased during the full term of this lease and paying as rent the sum of $96,000.00 for said term, payable in equal monthly installments of $4,000.00 in advance during the term of this lease.


III. REAL ESTATE TAXES


The Tenant shall pay the proportionate share of the real estate taxes levied by the town on the demised premises during the term hereof.


IV. UTILITY CHARGES


The Tenant shall pay for all water and sewer charges assessed by the city/town on said property for the term of this lease, and shall pay for all electricity and heat used on said premises.


V. TENANT'S OBLIGATION TO REPAIR AND MAINTAIN THE PREMISES


The Tenant shall have the express obligation to make repairs to the interior of the demised premises, except repairs required because of reasonable wear and tear and the Landlord's obligation 2 with respect to damage by fire as hereinafter exempted, and the Tenant shall hold the Landlord harmless from any loss, cost or damage in connection therewith where said loss, cost or damage is occasioned by the Tenant, its agents, servants or employees, or by persons coming on the demised premises at the express or implied invitation of the Tenant. Tenant shall have the express obligation to maintain the grounds at the premises in a manner which is consistent with the present maintenance of said grounds, including, but not limited to, landscaping, rubbish and snow removal. Landlord agrees to reimburse Tenant up to $10,000.00 for renovations made by the Tenant at the premises in preparation for occupancy.


VI. LANDLORD'S OBLIGATION TO REPAIR


The Landlord shall have the express obligation to make, promptly after the necessity therefore arises or after written notice is received from the Tenant, such repairs to the roof and structure, and plumbing, heating and electrical systems, and the exterior of the building of which the demised premises are a part, as may be necessary to keep the building in good repair and condition.


VII. ASSIGNMENT


The Tenant shall not assign this lease, nor underlet the whole or any part of the demised premises without first obtaining the written consent of the Landlord. The Landlord covenants and agrees that he will not unreasonably withhold such written consent for such assignment or underletting.


VIII. PAYMENT OF RENT


The Tenant agrees that it will, during said term and during such further time as the said Tenant or any persons claiming under it shall hold said premises or any part thereof, pay unto the Landlord and his or her assigns the said yearly rent hereinbefore provided for upon the days hereinbefore appointed for the payment of rent during said term.


IX. STOCK IN TRADE AND FIXTURES


The Tenant's stock in trade and fixtures in the demised premises shall be at the sole risk of the Tenant, except if loss, cost, or damage in connection therewith is occasioned by the active negligence of the Landlord, its agents, servants or employees.


X. DAMAGE BY FIRE


The Landlord agrees that no claim shall be made and that no suit or action, either at law or in equity, shall be brought by the Landlord or by any person, firm, or corporation claiming by, through or under the Landlord, against the Tenant, its successors and assigns, for any loss, cost or damage caused by or resulting from fire, of whatsoever origin, to the building constituting the demised premises or of which the demised promises are a part, as the case may be. 3 XI. ALTERATIONS, ADDITIONS AND SIGNS


The Tenant shall not make any alterations or additions to the leased premises, without first obtaining the written consent of the Landlord which shall not be withheld unreasonably. Landlord consents to the installation, at Tenant's sole cost and expense, of exterior signs, subject to the restraints and restrictions of local ordinances, by-laws, and laws.


XII. UNLAWFUL, IMPROPER OR OFFENSIVE USE


The Tenant shall not make nor allow to be made any unlawful, improper or offensive use of the demised premises.


XIII. NUISANCE


The Tenant shall be responsible and shall pay all damages and charges to the state or city government or any others for any nuisance made or suffered during said term on the demised premises or the sidewalk or way bordering thereon resulting from the activities of the Tenant.


XIV. DAMAGE TO PREMISES BY FIRE, CASUALTY OR BY TAKING FOR PUBLIC USE


Provided always, that in case the said premises or any part thereof shall be taken for any street or other public use or shall be destroyed or damaged by fire or other casualty, or by the action of the city or town or other public authorities, after the execution hereof and before the expiration of said term, then a just proportion of the rent hereinbefore reserved, according to the nature and extent of the taking or injury sustained by the demised premises, or, in the ca ...