REVISED PROPOSAL FOR LEASE
TO: Xxxxx Xxxxxxxx Entertainment, Inc.
ATTN: Xxx Xxxxxxxx, President
LOCATION: 0000 Xxxxx Xxxx., Xxxxx Xxxx, XX 00000
SPACE: Suite 100 containing Approximately 1600 sq. ft. first floor (with 7
offices) excluding a small file storage room for Fonte.
LEASE TERMS: Three (3) year beginning upon completion of remodeling
(improvements) with option to renew 3 more years at same rent and electric
costs based on prorated sq. ft.
RENT: $1,600.00 per month, plus a pro-rated share of the building electric
bill (calculated by square feet). Lessor is to consult with an energy
efficiency company to obtain recommendation on how to lower the electric
bill. Copies of electric bill statements will be provided to tenant upon
request.
TENANT IMPROVEMENTS: Partitioning according to plans approved by tenant,
painting, medium grade carpeting (plan and colors to be approved by
tenant), including the removal one suite entrance door and 2
windows on the hallway. The changes have been discussed, a sketch of the
floor plan has been submitted and the parties are in agreement.
Vic's (VC Tax & Accounting) office to be repainted and soiled
ceiling boards replaced. Tentative plan to revise and upgraded
exterior on building names with off-white letters on green background.
It is contemplated that the remodeling work will begin immediately.
Preliminary bids and prices have been obtained and indicate a total
of approx $6,200 for all tenant improvements to be paid by landlord*.
Arrangements will be to do its much of the work as possible in
the evenings & week ends and with the least amount of disruption
to the tenants to the best of the workers ability and practicality. Xxxxxx
accepts and agrees to this arrangement and
understand that nothing can be guaranteed as to noise and dust during this
project. *Xxxxxx agrees to pay the first
year's rent in advance to help defray the costs of improvements.
OPTION TO, LEASE SUITE 101: Tenant will have the first right to lease suite
101 (approx 900 sq. ft.) currently being leased by Xxxxxx Real Estate &
College. They have indicated they need a larger space and will move as soon
as they find another place. Their lease ends on August 21, 1999. They have
been advised another tenant is interested in their space, and have been told
they would be released from their lease earlier if they want to vacate prior
to August 21, 1999. They could continue on a month to month basis until
Xxxxxxxx is ready to add that suite to their lease.
OTHER LEASE TERMS:
Lessor's responsibility: To pay property taxes, utilities, and
or lessee and his guests.
Lessees's responsibility: To maintain suite; Provide public liability
insurance and provide Lessor with copy.
DATED: July 21, 1999
/s/Xxx Xxxxxxxx, President
/s/Xxxxxxx X. Xxxxx, owner/Lessor
