1
Exhibit 10.13
COMMERCIAL LEASE AND DEPOSIT RECEIPT
RECEIVED FROM Xxxxxx Lock, Inc., 00 Xxxxxx Xxxxxx, Xxxxxx, XX 00000
(hereinafter referred to as "Lessee"), the sum of Two Thousand Five Hundred
($2,500) Dollars, evidenced by _____________ as a deposit, which, upon
acceptance of this lease, shall belong to Lessor and shall be applied as
follows:
Rent for the period from 09/01/98 to 09/30/98: $ 1,250.00
Security Deposit: 1,250.00
----------
Total: $ 2,500.00
In the event that this lease is not accepted by the Lessor within 15
days, the total deposit shall be refunded.
Lessee hereby offers to lease from Lessor the premises situated in the
City of Hudsonville, Ottawa County, MI, described as 0000 00xx Xxxxxx, upon the
following terms and conditions:
1. TERM. The term hereof shall commence on September 1, 1998, and
expire on August 31, 2001.
2. RENT. The total rent shall be $45,000.00, payable as follows:
$1,250.00 for 36 months, due and payable on the first day of each month. All
rents shall be paid to the Lessor or his authorized agent, at the following
address: 0000 Xxxxxx Xxxxx Xxxx, Xxxxxxx, XX 00000.
3. USE. The premises are to be used for the operation of distribution
and light assembly of security hardware, and for no other purpose, without prior
written consent of the Lessor.
4. ASSIGNMENT AND SUBLETTING. Lessee shall not assign this lease or
sublet any portion of the premises without prior written consent of the Lessor,
which shall not be unreasonably withheld.
5. ORDINANCES AND STATUTES. Lessee shall comply with all statutes,
ordinances and requirements of all municipal, state and federal authorities.
6. MAINTENANCE, REPAIRS, ALTERATIONS. Lessee acknowledges that the
premises are in good order and repair, unless otherwise indicated herein. Lessee
shall, at his own expense and at all times, maintain the premises in good and
safe condition, including electrical wiring, plumbing and heating installations
and any other system or equipment upon the promises and shall surrender the
same, at termination hereof, in as good condition as received, normal wear
2
and tear excepted. Lessee shall be responsible for all repairs required,
excepting the roof, exterior walls and structural foundations. Lessee's expense
for repair of mechanical systems shall be limited to $500.00 per year. Lessee
shall also maintain in good condition any lawns and shrubbery.
No improvement or alteration of the premises shall be made without the
prior written consent of the Lessor.
7. ENTRY AND INSPECTION. Lessee shall permit Lessor or Xxxxxx's agent
to enter upon the premises at reasonable times and upon reasonable notice, for
the purpose of inspecting the same, and will permit Lessor at any time within
sixty (60) days prior to the expiration of this lease, to place upon the
premises any usual "For Lease" signs and permit persons desiring to lease the
same to inspect the premises thereafter.
8. INDEMNIFICATION OF LESSOR. Lessor shall not be liable for any damage
or injury to Lessee, or any other person, or to any property, occurring on the
demised premises or part thereof, and Xxxxxx agrees to hold Lessor harmless from
any claims for damages, no matter how caused.
9. POSSESSION. If Lessor is unable to deliver possession at the
premises at the commencement hereof, Lessor shall not be liable for any damage
caused thereby, nor shall this lease be void or voidable, but Lessee shall not
be liable for any rent until possession is delivered. Lessee may terminate this
lease if possession is not delivered within ____ days of the commencement of the
term hereof.
10. INSURANCE. Xxxxxx, at his expense, shall maintain public liability
insurance, including bodily injury and property damage, insuring Lessee and
Lessor with minimum coverages as follows: $1,000,000.00. Lessee shall provide
Lessor with a Certificate of Insurance showing Lessor as additional insured. The
Certificate shall provide for a ten-day written notice to Lessor in the event of
cancellation or material change of coverage.
To the maximum extent permitted by insurance policies which
may be owned by Lessor or Lessee, Lessee and Lessor, for the benefit of each
other, waive any and all rights of subrogation which might otherwise exist.
11. TRADE FIXTURES. Any and all improvements made to the premises
during the term hereof shall belong to the Lessor, except trade fixtures of the
Lessee. Lessee may, upon termination hereof, remove all his trade fixtures, but
shall repair or pay for all repairs necessary for damages to the premises
occasioned by removal.
12. SECURITY. The security deposit set forth above, if any, shall
secure the performance of the Lessee's obligations hereunder. Lessor may, but
shall not he obligated to apply all or portions of said deposit on account of
Xxxxxx's obligations hereunder. Any balance
- 2 -
3
remaining upon termination shall be returned to Lessee. Lessee shall not have
the right to apply the Security Deposit in payment of the last month's rent.
13. DEPOSIT REFUNDS. The balance of all deposits shall be refunded
within two weeks from date possession is delivered to Lessor or his authorized
agent, together with a statement showing any charges made against such deposits
by Xxxxxx.
14. WAIVER. No failure of Lessor to enforce any term hereof shall be
deemed to be a waiver.
15. NOTICES. Any notice which either party may or is required to give,
shall be given by mailing the name, postage prepaid, to Lessee at the premises,
or Lessor at address shown below, or at such other places as may be designated
by the parties from time to time.
16. TIME. Time is of the essence of this lease.
17. HEIRS, ASSIGNS, SUCCESSORS. This lease is binding upon and inures
to the benefit of the heirs, assigns and successors in interest to the parties.
18. ESTOPPEL CERTIFICATE. Lessee shall at any time, upon written notice
from Lessor, execute, acknowledge and deliver to Lessor an estoppel Certificate.
19. LATE PAYMENT CHARGES. Any payment of rent not paid when due shall
incur a late charge of Ten Dollars ($10.00) per day until paid. Determination of
when a payment is late shall be made by the Lessor based upon the postmark of
the envelope containing the payment or, if the Payment is hand delivered, the
date payment is actually made.
20. ADDENDUM. An addendum, signed by the parties, is attached hereto.
21. ENTIRE AGREEMENT. The foregoing constitutes the entire agreement
between the Parties and may be modified only by a writing signed by both
parties. The following Exhibits, if any, have been made part of this lease
before the Parties' execution hereof: NONE.
- 3 -
4
The undersigned Lessee hereby acknowledges receipt of a copy hereof.
DATED: August 20, 1998
Lessee:
HUSDON LOCK, INC.
By: /s/ Xxxxxxx Xxxxxxxx
----------------------------
Its: President
00 Xxxxxx Xxxxxx
Xxxxxx, XX 00000
(000) 000-0000
ACCEPTANCE
The undersigned Xxxxxx accepts the foregoing offer and agrees to lease
the herein described premises on the terms and conditions herein specified.
The undersigned Lessor hereby acknowledges receipt of a copy hereof.
DATED: August 17, 1998
Lessor:
/s/ Xxx Xxxxxxx
----------------------------
Xxx Xxxxxxx, Owner
00 Xxxxxx Xxxxx Xxxx
Xxxxxxx, XX 00000
(000) 000-0000
- 4 -
5
ADDENDUM
This is an addendum to the lease dated August 17, 1998, covering the
premises located at 0000 00xx Xxxxxx, Xxxxxxxxxxx, Xxxxxxxx.
Xxxxxx and Xxxxxx agree as follows:
1. Xxxxxx agrees to be responsible for any environmental contamination of
the premises existing prior to the commencement of this lease.
2. Xxxxxx agrees to insure, or bear the personal responsibility for, all
casualties to the premises. Lessee will insure their own property
contained in or on the premises. These responsibilities are in addition
to actions numbered 8 and 10 in the lease.
3. Xxxxxx agrees that Lessee may modify or remove the concrete steps on
the north side of the building. All expenses incurred from the removal,
modification and/or replacement of the steps shall be paid by the
Lessee. Lessee and Lessor agree to put the details of any removal,
modification and/or replacement of the steps in writing, prior to the
commencement of any such activity.
LESSOR
/s/ Xxx Xxxxxxx
----------------------------
Date: August 17, 1998
LESSEE:
/s/ Xxxxxxx Xxxxxxxx
----------------------------
Date: August 20, 1998
- 5 -
