COMMERCIAL LEASE
A 140-10
R 140-04
This lease is made between Miwa Lock U.S.A. , of 0000 Xxxxx
Xxxxxxxx Xxxx, Xxx Xxxxx, Xxxxxx , herein called Lessor, and
XXXX.XXX , of Las Vegas, Nevada , herein called
Lessee. Lessee hereby offers to lease from Lessor the premises situated in
the City of Las Vegas , County of Xxxxx, State of Nevada
, described as 0000 Xxxxx Xxxxxxxx Xxxx , upon the following
TERMS and CONDITIONS:
1. Term and Rent. Lessor demises the above premises for a term of Three
years, commencing July 1st , 1999 (year), and terminating on June
30th, 2002 (year), or sooner as provided herein at the annual rental
of Thirty none thousand, eight hundred Sixteen Dollars ( $ 39,816.00*
), payable in equal installments in advance on the first day of each month
for than month's rental, during the term of this lease. All rental
payments shall be made to Lessor, at the address specified above. *Payable
@ $3,318.00 per month.
2. Use. Lessee shall use and occupy the premises for 2,370 sq. ft of
office space The premises shall be used for no other purpose.
Lessor represents that the premises may lawfully be used for such purpose.
3. Care and Maintenance of Premises. Lessee acknowledges that the
premises are in good order and repair, unless otherwise indicated herein.
Lessee shall, at his own expense and at all times, maintain the premises in
good and safe conditions including plate glass, electrical wiring, pluming
and heating installations and any other system or equipment upon the
premises and shall surrender the same, at termination hereof, in as good
condition as received, normal wear and tear expected. Lessee shall be
responsible for all repairs required, expecting the roof, exterior walls,
structural foundations, and: all electrical i.e., outlets, air
conditioning, etc plumbing, elevator, outside landscaping , which shall
be maintained by Lessor.
4. Alterations. Lessee shall not, without first obtaining the written
consent of Lessor, make any alterations, additions, or improvements, in, to
or about the premises.
5. Ordinances and Statutes. Lessee shall comply with all statutes,
ordinances and requirements of all municipal, state and federal authorities
now in force, or which may hereafter be in force, pertaining to the
premises, occasioned by or affecting the use thereof by Lessee.
6. Assignment and Subletting. Lessee shall not assign this lease or
sublet any portion of the premises without prior written consent of the
Lessor, which shall not be unreasonably withheld. Any such assignment or
subletting without consent shall be void and, at the option of the Lessor,
may terminate this lease.
7. Utilities. Al applications and connections for necessary utility
services on the demised premises shall be made in the name of Lessee only,
and Lessee shall be solely liable for utility charges as they become due,
including those for telephone services. **see addendum**
8. Entry and Inspection. Lessee shall permit Lessor or Lessor's agents to
enter upon the premises at reasonable times and upon reasonable notice, for
the purpose of inspection the same, and will permit Lessor at any time
within sixty (60) days prior to the expiration of this lease, to place upon
the premises any usual "to Let" or "For Lease" signs, and permit persons
desiring to lease the same to inspect the premises thereafter.
9. Possession. If Lessor is unable to deliver possession of the premises
at the commencement hereof, Lessor shall not be liable for any damage
caused thereby, no shall this lease be void or voidable, but Lessee shall
not be liable for any rent until possession is delivered. Lessee may
terminate this lease if possession is not delivered within _______ days of
the commencement of the term hereof.
10. Indemnification of Lessor. Lessor shall not be liable for any damage
or injury to Lessee, or any other person, or to any property, occurring on
the demised premises or any part thereof, and Lessee agrees to hold Lessor
harmless from any claims for damages, no matter how caused.
11. Insurance. Lessee, at his expense, shall maintain plate glass and
public liability insurance including bodily injury and property damage
insuring Lessee and Lessor with minimum coverage as follows:
100,000 bodily injury / 100,000 property damage.
Lessee shall provide Lessor with a Certificate of Insurance showing Lessor
as additional insured. The Certificate shall provide for a ten-day written
notice to Lessor in the event of cancellation or material change of
coverage. To the maximum extent permitted by insurance policies which may
be owned by Lessor or Lessee, Lessee and Lessor, for the benefit of each
other waive any and all rights of subrogation which might otherwise exist.
12. Eminent Domain. If the premises or any part thereof or any estate
therein, or any other part of the building materially affecting Lessee's
use of the premises, shall be taken by eminent domain, this lease shall
terminate on the date when title vests pursuant to such taking. The rent,
and any additional rent, shall be apportioned as of the termination date,
and any rent paid for any period beyond that date shall be repaid to
Lessee. Lessee shall no be entitled to any part of the award for such
taking or any payment in lieu thereof, but Lessee may file a claim for any
taking of fixtures and improvements owned by Lessee, and for moving
expenses.
13. Destruction of Premises. In the event of a partial destruction of the
premises during the term hereof, from any cause, Lessor shall forthwith
repair the same, provided that such repairs can be made within sixty (60)
days under existing governmental laws and regulations, but such partial
destruction shall not terminate this lease, except that Lessee shall be
entitled to a proportionate reduction of rent while such repairs are being
made, based upon the extent to which the making of such repairs shall
interfere with the business of Lessee on the premises. If such repairs
cannot be made with in said sixty (60) days, Lessor, at his option, any
make the same within a reasonable time, this lease continuing in effect
with the rent proportionately abated as aforesaid, and in the event that
Lessor shall not elect to make such repairs which cannot be made within
sixty (60) days, this lease maybe terminated at the option of either party.
In the event that the building in which the demised premises may be
situated is destroyed to an extent of not less than one-third of the
replacement costs thereof, Lessor may elect to terminate this lease whether
the demised premises be injured or not. A total destruction of the
building in which the premises may be situated shall terminate this lease.
14. Lessor's Remedies on Default. If the Lessee defaults in the payment
of rent, or any additional rent, or defaults in the performance of any of
the other covenants or conditions hereof, Lessor may give Lessee notice of
such default and if Lessee does not cure any such default within 10
days, after the giving of such notice (or if such other default is of such
nature that it cannot be completely cured within such period, if Lessee
does not commence such curing within such 10 days and thereafter
proceed with reasonable diligence and in good faith to cure such default),
then Lessor may terminate this lease on not less than 10 days' notice to
Lessee. On the date specified in such notice the term of this lease shall
terminate, and Lessee shall then quit and surrender the premises to Lessor,
but Lessee shall remain liable as hereinafter provided. If this lease
shall have been so terminated by Lessor, Lessor may at any time thereafter
resume possession of the premises by any lawful means and remove Lessee or
other occupants and their effect. No failure to enforce any term shall be
deemed a waiver.
15. Security Deposit. Lessee shall deposit with Lessor on the signing of
this lease the sum of ***Three thousand three hundred eighteen
Dollars ($3,318.00) as security for the performance of Lessee's
obligations under this lease, including without limitation the surrender of
possession of the premises to Lessor as herein provided. If Lessor applies
any part of the deposit to cure any default of Lessee, Lessee shall on
demand deposit with Lessor he amount so applied so that Lessor shall have
the full deposit on hand at all times during the term of this lease.
16. Tax Increase. In the event there is any increase during any year of
the term of this lease in the City, County or State real estate taxes over
and above the amount of such taxes assessed for the tax year during which
the term of this lease commences, whether because of increased rate or
valuation, Lessee shall pay to Lessor upon presentation of paid tax bills
and amount equal to 5% of the increase in taxes upon the land and
building in which the leased premises are situated. In the event that such
taxes are assessed for a tax year extending beyond the term of the lease,
the obligation of Lessee shall be proportionate to the portion of the lease
term included in such year.
17. Common Area Expenses. N/A
18. Attorney's Fees. In case suit should be brought for recovery of the
premises, or for any sum due hereunder, or because of any act which may
arise out of the possession of the premises by either party, the prevailing
party shall be entitled to all costs incurred in connection with such
action, including a reasonable attorney's fee.
19. Waiver. No failure of Lessor to enforce any term hereof shall be
deemed to be a waiver.
20. Notices. Any notice which either party may or is required to give,
shall be given by mailing the same, postage prepaid, to Lessee at the
premises, or Lessor at the address specified above, or at such other places
as may be designated by the parties from time to time.
21. Heirs, Assigns, Successors. This lease is binding upon and inures to
the benefit of the heirs, assigns and successors in interest to the
parties.
22. Option to Renew. Provided that Lessee is not in default in the
performance of this lease, Lessee shall have the option to renew the lease
for an additional term of 24 months commencing at the expiration of the
initial lease term. All of the terms and conditions of the lease shall
apply during the renewal term except that the monthly rent shall be the sum
of $ 3,800.00*********. The option shall be exercised by written notice
given to Lessor not less than sixty (60) days prior to the
expiration of the initial lease term. If notice is not given in the manner
provided herein within the time specified this option shall expire.
23. Subordination. This lease is and shall be subordinated to all
existing and future liens and encumbrances against the property.
24. Radon Gas Disclosure. As required by law, (Landlord)(Seller) makes
the following disclosure: "Radon Gas" is a naturally occurring radioactive
gas that, when it has accumulated in a building in sufficient quantities,
may present health risks to persons who are exposed to it over time.
Levels of radon that exceed feral and state guidelines have been found in
buildings in XXXXXXXXXXXX. Additional information regarding radon and
radon testing may be obtained from your county public health unit.
25. Entire Agreement. The foregoing constitutes the entire agreement
between the parties and may be modified only by writing signed by both
parties. The following Exhibits, if any, have been made a part of this
lease before the parties' execution hereof:
Signed this day of , (year)
By:/s/ Xxxxxx X. Xxxxxx- Xxxxxx By: /s/ Xxxx Xxxxx-Lessee
Xxxxxx X. Xxxxxx, President
Miwa Lock U.S.A.
