Exhibit 10.15
Lease Agreement
This Lease is made by and between LESSOR : Chen, Shih-Ming [ ][ ][ ][ ][ ]
(hereinafter referred to as "Party A") and LESSEE : Kid Castle Internet
Technology Corporation (hereinafter referred to as "Party B") and Party B's
Guarantor : Xxxx, Xxxx-Ji (hereinafter referred to as "Party C") for the lease
of premises hereunder. Both parties agree to abide by the terms and conditions
set forth as follows:
1. Premises under the Lease : Party A hereby leases the premises located
at Xxxx 0, 0xx Xxxxx, Xx. 00, Xxxxxxx Xxxx, Section 0, Xxxxxx Xxxxxxxx, Xxxxxx
Xxxx under the Lease.
1. The Term of the Lease : The term of the Lease shall be THREE years,
commencing from November 1st 2002 to October 31st, 2005.
2. The monthly rental : NT$140,000(ONE HUNDRED AND FORTY THOUSAND New Taiwan
Dollars) (with a receipt originally issued for the payment of the rental by
Party A) shall be paid by Party B without delay or rejection in any
circumstances (the aforesaid rental is exclusive of electricity and water
charges). The rental tax shall be paid by Party A.
3. The rental shall be paid before the 6th of each month. The rental shall be
paid basing on one year period, Party B shall not delay in paying any
rental due in any excuse.
4. Party B shall pay a rental deposit of NT$ 400,000 (FOUR HUNDRED THOUSAND
New Taiwan Dollars) to Party A upon signing of this Lease. The said rental
deposit shall be returned to Party B without interest upon expiration of
this Lease, when Party B does not request for a lease renewal and vacates
and surrenders the Premises to Party A.
5. Upon expiration of this Lease when no renewal is agreed by Party A, Party B
shall restore the Premises to the original condition thereupon, vacate and
surrender the Premises to Party A without making any excuse or claiming any
right. In case the Premises shall be surrendered to Party A after delays,
Party B shall be liable for a default penalty equivalent to 500% of the
rental on a monthly basis until the date of surrender of the Premises, to
which Party B and Party C shall have no objection.
6. During the term of this Lease before its expiration, in the event that
Party B desires to move out of the Premises, Party B shall not request any
rental refund, moving costs or other royalties under other denominations
from Party A, and Party B shall unconditionally restore the Premises to the
original condition and return the Premises to Party A without objection.
7. Prior to consent by Party A during the term of this Lease, Party B shall
not, in whole or in part, have the Premises subleased, transferred,
mortgaged to any third party, or in any other way provided for use by any
third party.
8. Party B may make alternations of partitions and/or facilities in the
Premises as Party B deems necessary; construction work can only begin upon
consent given by Party A and shall not damage the main structure and the
facilities of the building. Upon expiration of the terms of this Lease,
Party B shall be responsible for the restoration of the Premises.
9. Party B shall not use the Premises for any illegal use, nor for storing
hazardous articles that will cause public danger.
10. Party B shall use the Premises with the degree of care of a responsible
administrator. If the damage or destruction is made by any personal
factors, Party B shall be responsible for the reparation. If the Premises
provided by Party A are damaged or destroyed due to act of God or any other
force majeure, or due to normal wear and tear, Party A shall be responsible
for the reparation.
11. In the event violations of any provisions of this Lease or the damage to
Party A are due to Party B's fault, Party B hereby shall be fully
responsible for compensating such damage or loss. Party B shall pay for
Party A's court costs and attorney's fees in the event that the court
action is instituted.
12. In the event that Party B violates any provisions of this Lease or causes
damages to the Premises, Party C shall be jointly liable for the loss Party
A shall incur and abandon the right of counteraction voluntarily.
13. Parties A, B and C shall observe and abide by the provisions of this Lease,
in the event that any provision thereof is violated, Party A may terminate
this Lease thereupon, thus Party A shall in no circumstances have any
concern with the loss to Party B.
14. Stamp duties are borne by both Parties, respectively. All taxes relating to
the Premises shall be borne by Party A; whereas the expenses involved in
the water supply, electricity and other business operations of Party B
shall be borne by Party B.
15. In the event that the house tax and income tax owing to the leased Premises
are heightened due to the leased Premises by Party B, Party B shall bear
the difference incurred there from without objection.
16. Any article or furniture left inside the Premises, upon expiration of this
Lease after Party B vacates the Premises, shall be deemed to be abandoned
at the disposal of Party A as waste, to which Party B shall have no
objection.
17. The rental tax payable shall be borne by Party A/Party B to the tax
collection office upon receiving tax statement(s).
19. The rental tax payable shall be borne by Party A/Party B to the tax
collection office upon receiving tax statement(s).
20. In the event that Party B desires, during the period of this Lease term, to
terminate this Lease, a written notice shall be given to Party A at least
two months in advance. Party B shall pay to Party A a penalty equivalent to
one month of rent without objection.
21. In the event that Party B fails to pay rent payable over two consecutive
months, any articles or furniture left in the leased Premises shall be at
the disposal of Party A. Party B shall not have objection.
22. In the event that Party B desires, during the period of this Lease term, to
terminate this Lease, Party B shall pay a ceiling expense of NT$40,000 to
Party A.
In witness whereof both Parties have hereunto signed the Lease, which is made in
duplicate; each party bears one to refer.
The Parties :
Lessor (Party A) : Chen, Shih-Ming([ ][ ][ ])
ID No. : (blank)
Lessee (Party B) : Kid Castle Internet Technology Corporation
Business Uniform No. : 70676630
Address : 0xx Xxxxx, Xx. 000, Xxxx-Xxxxx Xxxx, Xxxxxxxx Xxxx,
Xxxxxx Xxxxxx
Party B's Guarantor (Party C) : Xxxx, Xxxx-Ji([ ][ ][ ])
ID No. : A120250052
Address : Xx. 00-0, Xxxx 00, Xxxx Xx Xxxxx Xxxx, Xxxxxx Xxxx
Date: October 24th, 2002
