Exhibit 10(b): Material Agreement: ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇
LEASE WITH OPTION TO PURCHASE
DATE: This lease agreement was entered into on the 8th day of November, 2002
PARTIES: Owner: ALCAR FAMILY TRUST
And
Tenant: COSTAS, INC.
LEASED PROPERTY: Owner agrees to lease tenant the following property:
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LEASE TERMS: The term of the lease begins on December 1, 2002 and ends on
30 November 2006
RENT: The rent fro the property is $ 750.00 per month, payable on the
1st day of every month.
SECURITY DEPOSIT: The tenant shall deposit with the Owner $ 0 before
moving into the property, as a security deposit. The owner shall return the
deposit to the Tenant after the lease term, along with 0% interest per
year, so long as the property has not been damaged by the tenant or by
the Tenants negligence.
USE OF PROPERTY: The property shall be used for for any legal purpose
and no other purpose, without written consent of the owner.
SUB-LEASE: The Tenant may not sublease the property without
the written consent of the Owner.
OWNER'S MAINTENANCE RESPONSIBILITES: The Owner agrees to
maintain the following in good repair:
NO MAINTENANCE REPAIRS
TENANT'S MAINTENANCE RESPONSIBILITIES: The Tenant agrees to
maintain the following in good repair:
ALL MAINTENANCE AND REPAIRS
INSURANCE: The Tenant agrees to insure the property against all
risks for $ 70,000.00
THREE THOUSAND FIVE HUNDRED ($3,500.00) DOLLARS TO APPLY AGAINST
THE PURCHASE PRICE ALONG WITH $50.00 CREDIT PER MONTH AS STATED
BELOW. ONLY IF OPTION IS EXERCISED
TERMINATION: The Tenant agrees to vacate the property at the end
of the lease term in as good condition as it is now, excepting
ordinary wear and tear.
OPTION TERMS: The Tenant has the right to purchase the leased
property for $ 70,000.00 until 30 November 2006.
If Tenant exercises the option, the Owner agrees to sign the
attached Contract of Sale. [Attach a Contract of Sale form with
all the blanks filled in Tenant will be given credit toward
purchase price $ $50.00 of the rent paid monthly until option is
exercised up to four (4) years.
WHEN PROPERLY COMPLETED THIS IS A BINDING CONTRACT. IF NOT FULLY
UNDERSTOOD, SEEK COMPETENT LEGAL AID AND/OR COUNSEL BEFORE
SIGNING.
DATED this 21st day of November, 2002.
/s/ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇. /s/ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
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for Costas, Inc. as Trustee for ALCAR FAMILY TRUST
(Tenant's Signature) (Owner's Signature)
▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇. ALCAR FAMILY TRUST
(print or type name here) (print or type name here)
COSTAS, INC. ALCAR FAMILY TRUST
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