Exhibit 10(a): Material Agreement: 0000 Xxxxx Xxxx, Xxxxxxx, Xxxxxx 00000
LEASE WITH OPTION TO PURCHASE
DATE: This lease agreement was entered into on the 1st day of
January, 2003
PARTIES: Owner: ALCAR FAMILY TRUST
And
Tenant: COSTAS, INC.
LEASED PROPERTY: Owner agrees to lease tenant the following property:
0000 XXXXX XXXX, XXXXXXX, XXXXXX 00000
LEASE TERMS: The term of the lease begins on January 1, 2003 and ends on
December 31, 2006
RENT: The rent for 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
$ 80,000.00
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 $ 80,000.00 until December 31, 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 31st day of December, 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
