Exhibit 10.11
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RESIDENTIAL LEASE
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XX XXXXXX LANDLORD
OVATION PRODUCTS TENANT
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DATED: 10/1/2004
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RESIDENTIAL LEASE
FOR LOFT, APARTMENT OR PRIVATE RESIDENCE
THIS LEASE is made on the 1st day of October, 2004.
The Landlord hereby agrees to lease to the Tenant, and the Tenant hereby agrees
to hire and take from the Landlord, the Leased Premises described below pursuant
to the terms and conditions specified herein:
LANDLORD: XX X. XXXXXX TENANT(S): OVATION PRODUCTS
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Address: 0 XXXXXXXXX XX. Address: 000 X. XXXXXXXXX
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XXXXXX, XX 00000 XXXXXX, XX 00000
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1. LEASED PREMISES. The Leased Premises are those premises described as:
BUILDING AND LAND LOCATED AT 000 XXXX XXXXXXXXX XXXX, XXXXXX, XX 00000
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2. TERM. Term of the Lease shall be for a term of 1 year(s) commencing on the
1ST day of OCTOBER , 2004 and ending on Midnight of the 30TH day of SEPTEMBER ,
2005 . If Tenant remains in possession of the Leased Premises with the consent
of the Landlord after the lease expiration date stated above, this Lease will be
converted to a month-to-month Lease and each party shall have the right to
terminate the Lease by giving at least one month's prior written notice to the
other party.
3. RENT. The monthly rental amount for the Leased Premises is $2,500.00 per
month. The rent payment must be paid by the 1ST day of each month at the
Landlord's address listed above. The first month's rent is to be paid when
Tenant signs this Lease. Landlord need not give notice to Tenant regarding
Tenant's obligation to pay rent.
4. SECURITY DEPOSIT. Upon Tenant's execution of this Lease, Tenant shall make a
security deposit of $ -0- to Landlord in order to ensure that Tenant complies
with all terms and conditions of the Lease. If Tenant fully complies, Landlord
will return the security deposit within NA week(s) after the date Tenant
delivers possession of the Leased Premises to Landlord. If Tenant does not fully
comply with the terms of the Lease, Landlord may use the security to pay amounts
owed by Tenant, including damages.
5. DEFAULT/ABANDONMENT. If Tenant defaults in the payment of rent or any other
term or condition of this Lease, Landlord may give Tenant written notice to cure
such default. If Tenant fails to cure such default within days of receiving
notice, Landlord may elect to terminate the Lease, re-enter the Leased Premises
and remove the Tenant, all other occupants and their possessions.
If Tenant abandons or vacates the Leased Premises during the Term of this Lease,
Landlord may elect to re-enter the premises, without liability for prosecution
or owing damages to Tenant, and, at his option, relet the Leased Premises. If
the Landlord elects not to relet the Leased Premises, Tenant shall be liable for
the remainder of the rent due under the Lease until its expiration. If the
Landlord relets the Leased Premises but is unable to relet the Leased Premises
for as much rent as would have been paid by Tenant during the period between
Tenant's abandonment and the end of the Term, Tenant shall be liable to Landlord
for the difference. Landlord may also dispose of any property left by Tenant
after abandonment without liability and apply the proceeds to reduce such
difference.
6. OCCUPANTS. The Leased Premises shall be occupied by the following persons
only:
EMPLOYEES OF OVATION PRODUCTS
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No other persons shall occupy the Leased premises without the advance written
consent of the Landlord. The authorized occupants may only use the Leased
Premises for residential purposes and may not utilize the premises for
commercial or business purposes.
7. REPAIRS. Tenant must take good care of the Leased Premises and all equipment
and fixtures contained therein. Tenant is liable for damages caused by his acts
or neglect and any acts and neglect of his family, invitees or guests. Tenant
must make all repairs and replacements when it results from his act or neglect.
If Tenant fails to make a needed repair or replacement, Landlord may do it and
add the expenses to the rent. Landlord is liable for any major maintenance work
not the result of Tenant's acts or neglect.
8. PARTIAL OR TOTAL DESTRUCTION OF LEASED PREMISES. If the Leased Premises are
partially damaged or completely destroyed by a fire or other occurrence that is
not caused by Tenant's negligence or willful act (or the negligence of Tenant's
family, agent or guest), Landlord may elect to: (1) repair or rebuild the Leased
Premises during the period of untenantability and xxxxx the rent proportionally
for this period; or (2) not repair or rebuild the Leased Premises, terminate the
Lease and prorate the rent up to the time of the damage.
9. ALTERATIONS. Tenant must obtain Landlord's prior written consent to paint or
wallpaper the Leased Premises or to install any paneling, flooring, partitions,
railings or make any other alterations. Tenant must not alter the plumbing,
ventilation, air-conditioning, heating or electric systems. All the alterations,
installations and improvements shall become property of the Landlord when
completed and paid for, and shall be surrendered as part of the Leased Premises
at the end of the term. Landlord is not required to pay for any of the work
performed under this section unless he has agreed to pay as indicated in his
prior written consent.
10. MAINTENANCE OF LEASED PREMISES. Tenant shall, at tenant's expense, maintain
the premises in a clean and sanitary condition at all times. At the end of the
term, Tenant will leave the Leased Premises clean and in good condition, with
the exception of ordinary wear and tear. Tenant shall remove all Tenant's
belongings and surrender all keys to Landlord upon the expiration of the Lease.
11. ASSIGNMENT/SUBLETTING RESTRICTIONS. Tenant may not assign this agreement or
sublet the Leased Premises without the prior written consent of the Landlord.
Any assignment, sublease or other purported license to use the Leased Premises
by Tenant without the Landlord's consent shall be void and shall (at Landlord's
option) terminate this Lease.
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12. UTILITIES/SERVICES. Tenant is responsible for the payment of all utilities
and services, except for the following:
NONE
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which shall be paid by Landlord.
13. LANDLORD'S RIGHT TO ENTER. Landlord may, at reasonable times, enter the
Leased Premises to inspect it, to make repairs or alterations, and to show it to
potential buyers, lenders or tenants.
14. PETS. Tenant may not bring or keep pets in the Leased Premises without the
prior written consent of the Landlord.
15. LAWS AND REGULATIONS. Tenant must, at Tenant's expense, comply with all
laws, regulations, ordinances and requirements of all municipal, state and
federal authorities that are effective during the term of the lease agreement,
pertaining to the use of the premises. Tenant must not do anything that
increases the Landlord's insurance premium.
16. LEGAL FEES. The successfully party in a legal action or proceeding between
Landlord and Tenant relating to the non-payment of rent or recovery of
possession of the Leased Premises, may to the extent legally available, recover
reasonable legal fees and costs from the unsuccessful party.
17. INSPECTION PRIOR TO OCCUPANCY. Tenant has inspected the Leased Premises and
agrees that the Leased Premises, and all improvements, are in good, habitable
condition at the time this Lease is being signed.
18. SUBORDINATION. This Lease, and the Tenant's leasehold interest, is and shall
be subordinate, subject and inferior to any and all liens and encumbrances now
and thereafter placed on the Leased Premises by Landlord, any and all extensions
of such liens and encumbrances and all advances paid under such liens and
encumbrances.
19. BINDING OBLIGATIONS. This Lease agreement is binding on the Landlord and
Tenant and those that lawfully succeed to their rights or take their place.
Tenant and Landlord have both read this Lease and all promises made by the
parties are contained in this Lease.
20. ADDITIONAL TERMS AND CONDITIONS AGREEMENT TO BY BOTH PARTIES:
This Lease is effective when Landlord delivers a copy signed by all parties to
the Tenant. Parties have signed this agreement in duplicate the day and year
written above.
/S/ WM Zebhur
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(Landlord)
/S/ Xxxxxxx Xxxxxxxx
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(Tenant)
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(Tenant)
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(Witness)
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