Exhibit 10(b): Material Agreement: 0000 Xxxxxx Xxx, Xxxxxxx, Xxxxxx 00000
LEASE WITH OPTION TO PURCHASE
DATE: This lease agreement was entered into on the 8th day of November, 2002
PARTIES: Owner: ALCAR FAMILY TRUST
And
Tenant: COSTAS, INC.
LEASED PROPERTY: Owner agrees to lease tenant the following property:
0000 XXXXXX XXX, XXXXXXX, XXXXXX 00000
LEASE TERMS: The term of the lease begins on December 1, 2002 and ends on
30 November 2006
RENT: The rent fro the property is $ 750.00 per month, payable on the
1st day of every month.
SECURITY DEPOSIT: The tenant shall deposit with the Owner $ 0 before
moving into the property, as a security deposit. The owner shall return the
deposit to the Tenant after the lease term, along with 0% interest per
year, so long as the property has not been damaged by the tenant or by
the Tenants negligence.
USE OF PROPERTY: The property shall be used for for any legal purpose
and no other purpose, without written consent of the owner.
SUB-LEASE: The Tenant may not sublease the property without
the written consent of the Owner.
OWNER'S MAINTENANCE RESPONSIBILITES: The Owner agrees to
maintain the following in good repair:
NO MAINTENANCE REPAIRS
TENANT'S MAINTENANCE RESPONSIBILITIES: The Tenant agrees to
maintain the following in good repair:
ALL MAINTENANCE AND REPAIRS
INSURANCE: The Tenant agrees to insure the property against all
risks for $ 70,000.00
THREE THOUSAND FIVE HUNDRED ($3,500.00) DOLLARS TO APPLY AGAINST
THE PURCHASE PRICE ALONG WITH $50.00 CREDIT PER MONTH AS STATED
BELOW. ONLY IF OPTION IS EXERCISED
TERMINATION: The Tenant agrees to vacate the property at the end
of the lease term in as good condition as it is now, excepting
ordinary wear and tear.
OPTION TERMS: The Tenant has the right to purchase the leased
property for $ 70,000.00 until 30 November 2006.
If Tenant exercises the option, the Owner agrees to sign the
attached Contract of Sale. [Attach a Contract of Sale form with
all the blanks filled in Tenant will be given credit toward
purchase price $ $50.00 of the rent paid monthly until option is
exercised up to four (4) years.
WHEN PROPERLY COMPLETED THIS IS A BINDING CONTRACT. IF NOT FULLY
UNDERSTOOD, SEEK COMPETENT LEGAL AID AND/OR COUNSEL BEFORE
SIGNING.
DATED this 21st day of November, 2002.
/s/ Xxxxx Xxxxxx Xx. /s/ Xxxxxxxxx Xxxxxx
--------------------------- -------------------------------
for Costas, Inc. as Trustee for ALCAR FAMILY TRUST
(Tenant's Signature) (Owner's Signature)
XXXXX XXXXXX XX. ALCAR FAMILY TRUST
(print or type name here) (print or type name here)
COSTAS, INC. ALCAR FAMILY TRUST
0000 Xxxx Xxxxxxxxxx Xxxx XX Xxx 0000
Xxx Xxxxx, Xxxxxx 00000 Xxxxxxx, Xxxxxx 00000
