LEASE AGREEMENT Exhibit 10.22
THIS AGREEMENT, made this 12 day of May 1997, between
Coyote Sports, Inc., hereinafter known as "Tenant," and Accent
Properties as agent for and, hereinafter known as ("Owner").
s/GE WITNESSETH
Owner hereby does rent until Tenant the premises known and
described as Apartment No. A On the Floor of the building known
as 2291 Arapahoe Located at Xxxxxxx, XX 00000
TO HAVE AND TO HOLD the same from the 1 Day of June, 1997, to
the 1 Day of June, 1998. Tenant agrees to pay to Owner as
rental for said premises the sum of Eight Thousand Six Hundred
Forty Dollars ($8,640.00) payable in advance in equal monthly
installments of $720.00, on the 1st day of each and every
calendar month during the term, as hereinbefore set forth in
this Lease Agreement. If the term shall commence upon a day
other than the calendar day of the month, then Tenant shall pay
upon the commencement date a pro rata portion of the monthly
rent as above provided so that all future rental payments will
be due on the 1st Day of every month. It is also understood and
agreed that a delinquency charge may be assessed by Owner on
rents not paid in full when due as follows:
RENTS(OR ANY PORTION THEREOF) RECEIVED AFTER 5PM ON THE 5TH -
$10 PER DAY CHARGED FROM THE 1ST. EXAMPLE: PAID ON THE 9TH -
$90. It is also understood and agreed that in the event
Resident pays his rent by check and same is not cashed and paid
by the bank when presented, for whatever reason, Resident shall
pay, in addition to any late charges and in addition to the
rent, a charge for each occurrence in the amount of $20.
This lease is subject to the following terms and conditions to
which Owner and Tenant specifically agree.
1. Tenant agrees to notify Owner in writing of its
intention to vacate said premises at least thirty (30) days
Notice to prior to the termination of the tenancy.
Vacate-
Holdover: In the event Tenant holds over the leased premises
after the term of the tenancy specified herein, said holdover
shall be deemed a month-to-month tenancy, and Tenant shall be
liable for the monthly rental as specified herein for each
month that said premises is held over by Tenant.
Owner shall be entitled to terminate the tenancy
provided for in this lease without cause upon notice as
required by law.
Security 2. The Tenant concurrently with the execution of the
Deposit: Agreement has deposited with the Owner and will keep on deposit
during the term of this Agreement, the sum of Seven Hundred
Twenty Dollars ($ 720.00). The receipt of which is hereby
acknowledged, which sum shall be retained by Owner as security
for the payment by Tenant of the rent herein agreed to be paid
and for the Faithful performance of all terms, conditions, and
covenants of this Agreement. If, at any time, during the term
of this Agreement, the Tenant shall be in default in the
performance of any of the provisions of this Agreement, Owner
shall have the right to use said deposit, or so much thereof as
is necessary, in payment of any rental in default, as
aforesaid, and in payment of any damages incurred by Owner by
reason of said default of Tenant. In the event that said
deposit which shall be paid over and held by Owner, shall not
be utilized as aforesaid, then said deposit shall be refunded
to Tenant without interest, upon the full performance of this
Agreement by Tenant.
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Said security deposit shall be held by owner as security
against damage to the property of Owner (normal wear and tear
excepted), as defined on Exhibit "A" hereto attached; Tenant
vacating the premises prior to the termination of the tenancy;
Tenant vacating said premises without providing proper notice
in accordance with paragraph 1 of this Agreement; and the cost
of cleaning the apartment after Tenant vacated same - said
cleaning being hereby specifically contracted for by Tenant,
charges more expressly defined and hereby agreed as reasonable,
on Exhibit "A" hereto attached.
It is agreed by Tenant and Owner, that, if all covenants set
forth in this Agreement have been complied with and owner has
not sustained any damage to his property, nor is required to
clean said apartment, and further provided, that all provisions
relative to a notification to vacate are complied with by
Tenant, Owner shall refund said deposit to Tenant. However, if
Tenant defaults in the performance of any of the terms hereof
and/or damages any of Owner's property, vacated the apartment
prior to termination of the lease term, vacates the apartment
without tendering proper notice as provided in paragraph 1,
leaves the apartment in a condition which requires Owner to
clean same, Owner shall have the right to permanently retain
and apply so much of the subject deposit as to compensate Owner
for damages sustained by Owner, whether said damages be the
cost of repair, replacement, and/or cleaning of said apartment,
or the loss of rental due to improper termination of the lease
term, or vacation by Tenant and/or failure by Tenant to provide
proper notice. If any balance remains thereafter, Owner shall
return same to Tenant. The security deposit due Tenant, if any,
will be refunded by check mailed, certified mailing, to the
forwarding address of the Tenant and make payable to a person
signing this Agreement, but said refund, if any, or any notice
required by law, will not be made earlier than fourteen (14)
days not later than sixty (60) days from the date of the
termination of the lease Agreement. Any refunds of security
deposits cannot be obtained at the office of Owner. If the
deposit retained by Owner is insufficient to compensate Owner
for damages and/or losses, as previously set forth, Owner shall
be entitled to collect additional compensation from Tenant.
This provision shall not limit Owner's equitable or legal
Term- rights and is in addition to all other rights owner may have
Minimum for Tenant's breach of the terms of the Agreement.
Term
Service 3. In the event Tenant terminates this lease prior to
Charge ninety (90) days from the date of commencement of the term of
this lease, Tenant agrees to pay Owner a service and
administrative charge of Twenty-five ($25.00) dollars upon such
termination. Said charge shall not be payable in the event that
Owner terminates prior to said 90-day period unless said
termination is due to the default of Tenant. Said charge may be
retained by Owner out the security deposit made by Tenant.
4. Tenant agrees to abide by all rules and regulations
posted upon the premises or within the building or given by
written notice from Owner to Tenant, as Owner may make, from
time to time, for (a) the protection of the building; (b) usage
Tenant of the laundry room, clubhouse, swimming pool or to other
Covenants facilities available for all the Tenants alike and, (c) the
general welfare of all Tenants alike which in Owner's judgment
may be necessary for the safety and cleanliness and for the
preservation of good order in the building.
5. The Tenant, in consideration of the renting of said
premises and the rental rate as herein provided, covenants and
agrees as follow: to comply with all regulations now or
hereafter made for no purpose prohibited by the laws of the
United States or the State of Colorado or by the ordinances of
any municipality or City wherein the premises lie; to comply in
all respects with any insurance policies now upon or covering
said premises or which may hereafter be put upon the same and
not to permit anything to be done at or within the rented
premises which shall vitiate or increase the current rate of
insurance thereupon or upon property kept therein; not to
commit, permit or suffer any objectionable, disorderly conduct,
unreasonable noise or nuisance whatever about the premises on
his part, his family members, guest, servants or employees or
commit, permit or suffer anything to be done by any of them
that will unreasonable disturb or interfere with the rights,
comforts or convenience of other tenants; to keep or have no
roomers or boarders or guests unless the written approval of
the Owner is given; to keep no animals in said
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premises without prior written consent of Owner; to keep the
premises in good, clean and sanitary condition and not to
obstruct, place or permit to be placed, any dirt, rubbish or
thing in any of the plumbing fixtures, hallways or stairways of
said building; to change all light bulbs whenever same is
required; to place no additional locks upon any door of the
building or to take off any doors except with the consent of
the Owner; not to sublet the premises or any part thereof or to
transfer or assign this lease without the written consent of
the Owner.
Tenant further covenants and agrees; that Tenant has
examined the premises and the furnishings therein, as itemized
on Exhibit "A" attached hereto and made a part of the
Agreement, and is satisfied with the physical condition and, by
taking possession, admits the receipt of them in good order and
repair except as otherwise specified in writing; that no
representation as to condition or repair has been made except
as is contained in this agreement and that no promise to
decorate, alter, repair or improve the premises has been made
except such as is contained in this Agreement; to drive no
nails or screws or their equivalent into the walls, ceilings or
woodwork in said premises; in the event the premises contain a
patio or a balcony, not to put any roof or covering thereon or
to make any alterations to said patio or balcony except with
the written consent of Owner; to be responsible for the
watering and care of such plants, if any, that Owner may plant
within the patio area except for above ground potted plants;
not to permit or plant any plants in the patio except such
plants as have been planted by Owner; not to attach or hang
from the exterior of the premises or the building of which the
premises are a part, any radio or television antenna, to be
responsible and liable for any injury or damage done to the
rented premises or the building in which the same are located,
by Tenant, his employees or any occupant or other person whom
Tenant permits to be in or about the premises; to pay the
expense of replacing all glass broken and replacing all keys
lost or broken and maintain the premises and furnishings in
good condition, order and repair as the same are in at the
commencement of the term, ordinary wear and tear and damage by
fire or other casualty excepted, and permit no waste of the
rented premises or allow the same to be done, but shall take
good care of the same; to allow Owner, an employee or agent of
Owner to enter said apartment at any reasonable time to make
repairs, inspect or show the premises to persons wishing to
rent or purchase same; the Owner or its agents or employees may
enter the same by use of a master key or forcibly without being
liable for damages thereof, and without affecting the
obligations of Tenant thereunder.
Tenant's
Rights: 6. Tenant shall have a right to peaceable possession of
the subject premises and reasonable access thereto. Tenant
shall have a right to possession of the premises upon
commencement of the lease term specified in this Lease
Agreement and thereafter, upon Tenant's compliance with the
terms of the lease Agreement, shall have a right to exclusive
possession of said premises during the term of the leasehold.
Tenant shall have a right to use the leased premises for all
intended purposes and in accordance with the laws of the United
States, the State of Colorado and any local municipality, and
Tenant shall have a right to so use the common facilities, if
any, applicable to the leased premises.
Public
Utilities: 7. Tenant further agrees to contact Public Service
Company for his electric service within three (3) days from
date of occupancy and agrees to pay promptly for all
electricity which is supplied to Tenant on the demised
premises; that Tenant shall not hold Owner liable for any claim
of damages or rebate or charge of any kind whatsoever in the
case of the interruption of the supply of heat, water or any
other service furnished to Tenant occasioned by accident,
failure of supply or any other reason unless caused by the
affirmative negligence or intentional act of Owner. The
obligation of Tenant to pay the rent specified in this
Agreement and perform all of the other covenants of Tenant
thereunder shall not be affected, impaired, or excused because
Owner is unable to supply or is delayed in supplying any
service, including water, heat, repairs, alterations, additions
etc., expressly or impliedly to be supplied or made by Owner,
if Owner is delayed or prevented from doing so by causes
Tenant's beyond the control of Owner.
Waiver
8. In consideration of the leasing of these premises by
Tenant and in further consideration of Owner permitting Tenant,
subject to Tenant's compliance with all promulgated rules and
regulations, the right of usage,
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to Tenant or members of his household resulting form any cause
whatsoever arising out of their usage of such swimming pool,
clubhouse or other facilities.
Tenant shall neither hold nor attempt to hold Owner,
its agents or its servants, liable for any injury or damage to
persons or property either proximate or remote no matter how
occasioned on account of any defect in the building premises on
account of flooding or fire or any injury or damage arising
from the acts of the owners or occupants of adjoining property
or for any injury or damage from the negligence of the Owner,
or agents or employees of the Owner and Tenant, or from the
acts of other Tenants in the said building, including, but not
by way of limitation, the loss of property stored in the
storage space provided for Tenant, or injury to persons or loss
of property in the laundry room or either losses sustained on
the premises and the said Tenant hereby waives any and all
claims for damages which may be suffered thereby.
Failure to 9. If for any reason the said demised premises shall not
Give Pos- be ready for occupancy or available on the date specified
session: herein for the commencement of the term of this Agreement, or
within twenty (20) days thereafter, the Agreement shall,
nevertheless, continue in all respects in full force and effect
and Tenant shall have no right to rescind, cancel or terminate
the same and Owner shall not be liable for damages, other than
to the extent of the abatement of rent from the date of the
commencement of this Agreement to the date of possession to
Tenant on the rental basis.
Remedies
Of Owner: 10. Upon Tenant's failure to pay any installment of rent
or any part thereof when due, or if Tenant shall violate any of
the terms, provisions or promises of the Agreement, Owner shall
have the right to re-enter and repossesses the apartment,
without notice of any kind and exclude Tenant therefrom without
terminating this Lease Agreement. Owner may thereupon remove
and store, at the expense of Tenant, all Tenant's personal
effects and property found in or around the apartment. In the
event of the seizure of furniture or other movable effects from
the apartment belonging to Tenant, Tenant agrees that in order
to satisfy any unpaid account owing by Tenant to owner, Owner
shall have the right to sell any of the effects seized from the
apartment, by judicial or conventional sale, and at either
public or private sale, all at Owner's option, and the Tenant
waives the benefit of appraisement. In the event Owner elects
to re-enter and repossess the apartment pursuant to this
provision, it is hereby specifically agreed that such re-entry
and repossession by Owner will not serve as termination of this
Lease Agreement nor as a release by Owner of Tenant's duty to
pay the agreed-upon rental for the unexpired portion of the
lease term provided for herein; and in the event of such re-
entry and repossession by Owner, all rights of Tenant as a
resident shall terminate, but Tenant shall remain liable for
the rent herein specified during the remaining term of this
Agreement plus Owner's cost of repossessing the apartment,
including a reasonable attorney's fee in the amount of Two
Hundred Dollars ($200.00), court costs, and all other
expenditures incurred by Owner as a result of Tenant's default.
In the event Owner is required to defend itself in any action
brought by Tenant arising out of this Agreement, Owner shall be
entitled to claim against Tenant all costs incurred in such
defense including reasonable attorney's fees in an amount of
not less than Two Hundred Dollars ($200.00); and in the event
Owner is successful in its defense against Tenant and is found
to be without fault in the contested matter, Tenant agrees to
pay to Owner said costs and attorney fees. The failure on the
part of Owner to re-enter and repossess the apartment, or to
exercise any of its rights thereunder upon default, shall not
preclude Owner from the exercise of any such right during the
continuance of such default or upon any subsequent default.
Acceptance of past-due rent will in no way act as a waiver of
Owner's right to terminate this Lease Agreement for non-payment
of rent when due, and no notice or demand shall be required for
the enforcement thereof. It is understood and agreed that the
mention in this Lease Agreement of any particular remedy shall
no preclude Owner from any other remedy, in law or in equity.
Tenant's
Representation 11. In the event Tenant makes any misrepresentation in
entering the demised premises, either on the application which
he is required to fill out and which is a condition to
effectuating its Agreement or otherwise, Owner may treat the
same as a violation of a covenant of this Agreement and the
remedies, as provided herein for any violation and any other
remedies provided by law, shall become and are applicable.
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Owner's 12. Owner or Owner's agents have made no representations
Representation or promises with respect to the said building or the land which
it is erected, except as herein expressly set forth, and no
rights, easements or licenses are acquired by Tenant by
implication or otherwise except as expressly set forth in the
provisions of this Agreement. The taking possession of the
premises by Tenant shall be conclusive evidence, as against
Tenant, that Tenant accepts same "as is" and that said premises
and the building of which the same form a part where in good
and satisfactory condition at the time such possession was so
taken.
Owner's 13. Owner shall at all times have the right to distrain
Lien: for rent due, and at all times shall retain a valid and first
lien upon all of the property of the Tenant in or about said
apartment, as security for the payment of all rent herein
reserved and no furniture contained in said apartment shall be
removed by Tenant without first obtaining from Owner, or the
person in charge of said building, a permit therefor. Nothing
herein contained shall in any manner be held to restrict or
abridge any remedy otherwise given by law for the collection of
said rent, or for the recovery of the possession of said
apartment.
Joint and
Several 14. It is understood and agreed that each party signing
Liability: this Lease Agreement as Tenant is liable for the full amount of
the rent provided herein. The obligation of the Tenant's is
joint and several.
Subordination: 15. This Agreement is subject and subordinate to all
ground or underlying leases and mortgages and/or deed of trust
and other security instruments executed by owner, or any of its
officers and directors, which may now or hereafter affect the
real property whereon the apartment and the apartment buildings
are situated.
Severability: 16. The construction, validity and effect of this
Agreement shall be governed by the laws of the State of
Colorado. Any provision of this Agreement prohibited by such
laws shall be ineffective to the extent of such prohibition
without invalidating the remaining provisions thereof.
Waiver- 17. None of the provisions of the terms set forth in this
Alteration lease Agreement shall be deemed waived unless such waiver be in
writing and signed by the parties hereto. Any alterations of
the provisions or terms set forth in this Lease Agreement shall
be set forth in writing and signed by the parties hereto.
Successors: 18. The promises, agreements, covenants and conditions
contained in this Agreement shall bind and inure to the benefit
of Owner and Tenant and their respective executors,
administrators, successors, and, except as otherwise provided
in this Agreement, their assigns.
19. Repairs under $50.00 are to be paid by the Tenant.
20. No Pets.
IN WITNESS WHEREOF, the said Owner and Tenant hereunto cause
their respective names to be subscribed the day and year first
above mentioned.
/s/
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/s/
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AGENT FOR OWNER TENANT
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