LEASE
LEASE
This
Lease made and entered into in Oakland County, Michigan, this 17th day of June,
2010, by and between Omega Development Corporation a Michigan corporation,
hereinafter referred to as "Lessor," and Ecology Coatings, Incorporated, a
Nevada corporation, hereinafter referred to as "Lessee."
WITNESSETH:
In
consideration of the rents hereinafter reserved, and further in consideration of
the mutual covenants, conditions, agreements and stipulations of Lessor and
Lessee hereinafter expressed, the parties hereby agree as follows:
1. PREMISES: Lessor
hereby leases to Lessee and Lessee hereby leases from Lessor office space in
Lessor’s building located at 00000 Xxxxx Xxxx, Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxx
hereinafter referred to as "Leased
Premises".
2. TERM: The
term of this Lease and Lessee's obligation to pay rent hereunder shall be for a
term of six months and shall commence on the 17th day of June, 2010, and extend
through the 16th day of December, 2011, unless sooner terminated as hereinafter
provided.
3. RENT: As
rent, Lessee agrees to reimburse Lessor its monthly gas and electric utility
costs actually incurred at Lessor’s building located at 00000 Xxxxx Xxxx,
Xxxxxx, Xxxxxxxx.
4. USE OF
LEASED PREMISES: Leased Premises shall be used and occupied by Lessee
for office space only, and not for any other purpose.
5. USE AND
CARE OF LEASED PREMISES: Lessee shall use and occupy the Leased
Premises for the above stated purpose in a careful and proper manner and not
commit any waster or nuisance thereon. Lessee agrees that it will use
the Leased Premises in such a manner as not to interfere with or infringe upon
the rights of the adjacent tenants. Lessee shall not use or occupy
the Leased Premises in violation of any law, ordinance, regulation or other
governmental directives having jurisdiction thereof, and shall, upon five (5)
days written notice from Lessor, discontinue any use of the Leased Premises
which is declared by any governmental authority having jurisdiction to be in
violation of any law, ordinance, zoning, regulation, or directive.
6. REPAIRS
AND MAINTENANCE: Lessor shall be responsible for the maintenance,
repair and replacement, if necessary, of the roof, exterior walls, foundation,
and all structural systems on the Leased Premises. Further, all
fixtures, appliances and systems serving the Premises shall be in a good and
working order at the commencement of this Lease. As to any other
maintenance, repairs or replacements other than those mentioned in the preceding
sentence which are necessary during the term of this Lease, the parties agree
that Lessee shall be responsible for same. Lessor shall not be required to make
any repairs where the same were made necessary by any act or omission or
negligence of the Lessee, any subtenant(s) of the Lessee, or their respective
employees, agents, invitees, licensees, visitors or contractors
7. MODIFICATIONS
AND ALTERATIONS: Lessee covenants and agrees not to make or permit to
be made any alterations, improvements, additions, or attach or affix, or build
to the Leased Premises or any party thereof or paint or hang wallpaper except by
and with the prior written consent of Lessor.
8. ASSIGNMENT
OR SUBLETTING: Lessee shall make no assignment or subletting of the
Leased Premises without the prior written consent of the
Lessor. Consent shall not release Lessee from liability hereunder for
payment of rental or performance or observance of any of the terms
and conditions of the Lease.
9. TENANT'S
PROPERTY: Lessor shall not be liable for any damage by theft or
otherwise to property of the Lessee or of others located on the Leased
Premises. Lessor shall not be liable for any injury or damage to
persons or property resulting from fire, explosion, flooding, falling plaster,
steam, gas, electricity, water, rain, snow, or leaks from any part of the
Premises, or from the pipes, appliances, or plumbing works, or from the roof,
street or subsurface or from any other place by dampness or by any other cause
of whatsoever nature, the parties agreeing that said damages are generally
covered under a policy of renter's insurance such as that will be obtained by
Lessee herein. Lessor shall not be liable for any such damage caused
by other tenants or persons in the Premises.
10. DESTRUCTION: In
the event the Leased Premises shall be damaged or destroyed by fire or other
casualty during the term of the Lease, Lessor shall restore or repair said
Premises as soon as practicable. During the period in which the
Leased Premises are rendered unusable in whole or in part the rental otherwise
payable hereunder shall xxxxx in whole or in part proportionately with the space
which was rendered unusable by such destruction or casualty, unless the cause of
such destruction was the fault of Lessee, its agents, employees, licensees or
invitees in which case there shall be such abatement in rent. In any
event, this Lease shall remain in full force and effect.
11. FIXTURES: The
parties hereto mutually agree that all fixtures installed in the Leased Premises
by the Lessee shall become property of the Lessor at the expiration or
termination of this Lease or any renewal or extension thereof unless fixtures
can be removed without injury to or undue defacement of Leased Premises, removal
of which is only permitted provided that all rents and charges herein are paid
in full.
12. SURRENDER
OF PREMISES & HOLDING OVER: At the expiration of any tenancy
created herein, Lessee shall surrender the Leased Premises in as good a
condition as at time of initial possession excepting normal wear and
tear. Lessor shall have the right, at Lessor’s discretion, upon
expiration of this Lease and upon vacating by Lessee, to require Lessee to
restore the Leased Premises to their original condition at the time of Lessee’s
possession, normal wear and tear excepted. Lessee shall surrender all keys for
the Leased Premises to the Lessor and shall inform Lessor of all combinations on
locks, safes, and vaults, if any, in the Leased Premises. Lessee’s obligations
to observe or perform this covenant shall survive the expiration or other
termination of the term of this Lease. If Lessee shall default in so
surrendering the Premises, Lessee’s occupancy subsequent to such expiration,
whether or not with the consent or acquiescence of the Lessor, shall be
considered to be that of a tenancy at will and in no event from month to month
of from year to year, and it shall be subject to al the terms and conditions of
this Lease applicable thereto. Either party may terminated an at-will
tenancy with 30 days notice.
13. BREACH: If
Lessee shall fail to keep and perform any of the covenants, agreement, or
conditions of this Lease, or if Lessee commits waste or damages to the Premises
or abandons or vacates Premises during the term hereof, or shall make assignment
in creditors, sell Lessee's interest, voluntarily or involuntarily, or upon
commission of an act of bankruptcy, or commencement of proceedings under
bankruptcy statutes, or devolve into receivership or trusteeship, Lessor may at
any time thereafter while such conditions exist, give fifteen (15) days written
notice to Lessee, of its intention to cancel and terminate this Lease and in
such default or conditions and not corrected or remedied within that
period. Lessor then may lawfully re-enter Leased Premises or any part
thereof and repossess the same and expel the Lessee and those claiming under or
through Lessee and remove Lessee's property forcibly, if necessary, without
being deemed guilty in any manner of trespass and without prejudice to any
remedies which might otherwise be used for arrears of rents or of breach of
covenants and upon entry as aforesaid this Lease shall terminate, and the Lessee
covenants that it will indemnify the Lessor against all unavoidable loss of rent
and other charges hereunder which the Lessor may incur by reason of such
termination during the residue of the term of this Lease.
14. NOTICE: Any
notice required or permitted to be given hereunder by either party to this Lease
may be given by personal delivery or by regular mail service unless specific
provision for certified mail service is otherwise made
herein. Lessor's address for service of notice shall be: 00000 Xxxxx
Xxxx, Xxxxxx, Xxxx 00000 unless and until Lessor notifies Lessee of an address
change in writing. Lessee's address for service of notice shall be
the physical location of the Leased Premises.
15. MISCELLANEOUS: (A)
No waiver by Lessor of any provision of this Lease shall be deemed to be a
waiver of any other provision hereof or of any subsequent breach by Lessee of
the same or any other provision.
(B) This
Lease constitutes the entire agreement between the parties hereto with respect
to the Leased Premises identified herein, and no prior agreement or
understanding with regard to any such matter shall be effective for any
purpose. Further, Lessee agrees that it has not relied on any
representations or promises by Lessor in entering into this Lease that have not
been specified herein. No provision of this Lease may be amended or
added to except by an agreement in writing signed by the parties hereto or their
respective successors in interest.
(C)
Lessee confirms that prior to the commencement of this Lease, it has examined
the Premises and has confirmed to Lessee's own satisfaction that the Premises
are in excellent condition.
(D) Lessee
agrees that it will be responsible for any damage caused by escape or overflow
of water which occurs through the acts or negligence of Lessee, their guests,
agents, employees, licensees or invitees.
(E) No
additional locks shall be placed upon any doors of the Premises unless a key is
given to Lessor for use in emergencies. If extra keys for any door
are desired, they shall be obtained and paid for by the Lessee. Upon
termination of this Lease, the Lessee shall surrender all keys to the Premises
to the Lessor.
IN
WITNESS WHEREOF, the parties hereto have signed and sealed this Lease as of this
17th day of June, 2010.
By
LESSOR:
OMEGA
DEVELOPMENT CORPORATION
/s/ Xxxxx
Xxxxxxx
Xxxxx
Xxxxxxx
Its: CEO
By
LESSEE:
/s/ Xxxxxx X.
Xxxxxxxx
Xxxxxx X.
Xxxxxxxx
Its: CEO
