EXHIBIT 10.1
Between
Brampton Holdings Ltd.
And
Duro Enzyme Products Inc.
This lease effective this 1st Day of October, 2000 by and between Brampton
Holdings Ltd., an Ontario Corporation, hereinafter "Lessor" and Duro Enzyme
Products Inc. "Lessee", but signed December 12, 2001.
WITNESSETH:
1. PREMISES: 00000 XXXXXX XXXXXXX, XXXXXXX, XX SUITE 104.
Lessor hereby Leases to Lessee and Lessee hereby Leases from the Lessor a
portion of the premises, hereinafter the "premises", Commonly known as XXXXX
000, 00000 Xxxxxx Xxxxxxx, Xxxxxxx, XX, and consisting of approximately 5000 sq.
feet in Langley British Columbia Canada.
2. TERM
The term of this lease shall be for two (2) years commencing on the
effective date of October 1, 2000 and terminating September 30, 2002
3. EXTENTION
(THIS LEASE MAY BE EXTENTED AT THE OPTION OF LESSEE FOR AN ADDITIONAL
TWO YEAR TERM)
The term of this lease may be extended, at the option of the Lessee, for a
successive period as agreed upon by Lessee and Lessor, such successive periods
being referred to as the "extended term". The option to extend shall be
exercised by the Lessee by giving written notice to the Lessor not less than
ninety (90) days prior to the expiration of the existing term.
Such extended term shall be upon the same terms, covenants and conditions,
with the exception of the annual rent which shall be calculated as set forth
below.
4. RENT
Base rent - The Lessee agrees to pay to the Lessor US$3,000 per month
during the initial term of the lease.
5. OPERATING EXPENSES
All operating expenses are included in the payment of the base rent.
6. Notice
Any notice required to be given by either party to the other shall be
delivered at the below addresses:
Lessor: BRAMPTON HOLDINGS LTD.
00000 Xxxxxx Xxxxxxx
Xxxxxxx, XX
X0X 0X0
Lessee: DURO ENZYME PRODUCTS INC.
00000 Xxxxxx Xxxxxxx
Xxxxxxx, XX
X0X 0X0
IN WITNESS WHEREOF the parties have executed this Agreement as of the day and
year first written above.
Brampton Holdings Ltd. Duro Enzyme Products Inc.
by its Authorized signatory: by its Authorized signatory:
/s/ Xxxxxx Xxxxxx /s/ Xxxxxx Xxxxxxx
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Signature Signature
