Exhibit 9
Form 10-KSB
Reddi Brake Supply Company, Inc.
LEASE AGREEMENT
Xxxxxxx Enterprises LLC, of Lehi, Utah, hereinafter referred
to as "landlord", hereby leases to XXXXXXX.XXX, INC. of Orem,
Utah, hereinafter referred to as "tenants", the premises situated
in Building #8 of the Xxxx Xxxx Office Condo Buildings, in Utah
County, State of Utah, and more particularly described as
follows: 000 Xxxx Xxxxxx, Xxxx, Xxxx 00000. Said lease is of
approximately 1,920 square feet and includes nine parking spaces
in the adjoining lot.
1. Said lease shall run for a term of one year, beginning on the
first day of November 1999 and continue until the last day of
October, 2000.
2. Tenant covenants and agrees to pay the landlord as rental for
said premises, the sum of $1365.00 on or before the 1st day of
each month. In the event that said rent or any part thereof
shall remain unpaid ten days after the same shall become due,
landlord shall be entitled to assess a penalty of 3% of the
unpaid amount. Further, landlord shall have such additional
remedies as are available at law.
3. As additional security to landlord, tenant shall prepay 1/2 of
last month's rent. Said payment in the amount of $680.00 shall
be paid to landlord on execution of this agreement.
4. Tenant further agrees to deliver up said premises to landlord
at the expiration of the lease term in as good an order and
condition as when the same were entered upon by tenant,
reasonable use and wear thereof and damage by the elements
excepted. Tenant shall make no structural changes to the
building without the express written consent of the landlord.
5. Responsibility for maintenance shall be as follows: Tenant
shall be responsible for interior decoration and janitorial
duties. Landlord shall be responsible for the roof, exterior
walls, interior walls, structural repair, exterior painting, yard
surfacing, plumbing equipment, heating and air conditioning,
electrical equipment, light globes and tubes, glass breakage,
trash removal and snow removal.
6. Responsibility for utilities, taxes and insurance shall be as
follows: Tenant shall be responsible for the power, heat, water,
telephone and fire insurance on personal property. Landlord
shall be responsible for real property tax, personal property
tax, fire insurance on building, glass insurance and any
increases in real property tax.
7. Tenant may enter into office sharing arrangements with other
companies in order to efficiently use the available space.
Landlord consents to said sub-letting of the premises in advance
without the necessity of further notice.
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8. Each party shall be responsible for losses resulting from
negligence or misconduct of himself, his employees or invites.
9. In the event of failure to faithfully perform any of the
terms or conditions of this agreement, the prevailing party shall
be entitled to all costs and reasonable attorney's fees.
10. At the end of this contract, lease may be renewed upon
approval by landlord and tenant for an additional 1, 2, or 3 year
term at no more than an increase of 2% per year.
11. Tenant understands that parking is at a premium around the
leased premises, and agrees that the use of more than nine spaces
can be grounds for termination of this agreement. However, in
the event that landlord desires to terminate this agreement based
upon overuse of parking spaces, tenant shall be entitled to 15
days written notice, and an opportunity to cure the problem.
12. Tenant shall have the right to provide and post its own sign
or signs, within the limits of existing law and aesthetic values.
13. Option is available to purchase existing Xerox copier 5328,
paper shredder, and two-drawer lateral file upon mutual agreement
of said parties.
15. "Tenant" agrees to give 45 days notice of non-renewal of
lease to give "landlord" time to release.
DATED this 12th day of October, 1999.
/s/ Xxxxx X. Xxxxxxx, Xxxxxxx Enterprises LLC
/s/ Xxxxxx Xxxxx, XXXXXXX.XXX, INC.
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