EXHIBIT 10: Commercial Lease.
COMMERCIAL LEASE
This lease is made between Xxxx Xxxxxx of 0000 X. Xxxxx Xxxx
Xxxx, Xxxxxxxx, Xxxxxxx 00000 herein called Lessor, and
Ginseng Forest Inc. of 0000 X. Xxxxxxxx Xxxxxx, Xxxx,
Xxxxxxx 00000 herein called Lessee.
Lessee hereby offers to lease from Lessor the premises
situated in the City of Prescott, County of Yavapai, State
of Arizona described as one quarter of an acre of timberland
located at 0000 X. Xxxxx Xxxx Xxxx, Xxxxxxxx, Xxxxxxx 00000
upon the following TERMS and CONDITIONS:
1. Term and Rent. Lessor demises the above premises for a
term of one year, commencing September 15, 2002 and
terminating on August 31, 2003, or sooner as provided herein
at the annual rental of One Thousand Five Hundred Dollars
($1,500.00), payable in one payment prior to the beginning
of the lease. Rental payment shall be made to Lessor, at
the address specified above.
2. Use. Lessee shall use the premises to test the growth of
wild forest grown Ginseng Herb. The premises shall be used
for no other purpose. Lessor represents that the premises
may lawfully be used for such purpose.
3. Care and Maintenance of Premises. Lessee acknowledges
that the premises are in good order and repair unless
otherwise indicated herein.
4. Alterations. Lessee shall not, without first obtaining
the written consent of Lessor, make any alterations,
additions, or improvements, in, to or about the premises.
5. Ordinances and Statutes. Lessee shall comply with all
statutes, ordinances and requirements of all municipal,
state and federal authorities now in force, or which may
hereafter be in force, pertaining to the premises,
occasioned by or affecting the use thereof by Lessee.
6. Assignment and Subletting. Lessee shall not assign the
lease or sublet any portion of the premises without prior
written consent of the Lessor, which shall not be
unreasonably withheld. Any such assignment or subletting
without consent shall be void and, at the option of the
Lessor, may terminate this lease.
7. Utilities. All applications and connections for necessary
utility services on the demised premises shall be made in
the name of Lessor only, and Lessor shall be solely liable
for utility charges as they become due, including those for
sewer, water, gas, electricity, and telephone services.
8. Entry and Inspection. Lessor can enter upon the premises
at reasonable times and upon reasonable notice, for the
purpose of inspecting the same, and will permit Lessor at
anytime within sixty (60) days prior to the expiration of the
lease, to place upon the premises any usual "To Let" or "For
Lease" signs, and permit persons desiring to lease the same
to inspect the premises thereafter.
9. Possession. If Lessor is unable to deliver possession of
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 15 days of
the commencement of the term hereof.
10. Eminent Domain. If the premises or any part thereof or
any estate therein, or any other part of the building
materially affecting Lessee's use of the premises, shall be
taken by eminent domain, this lease shall terminate on the
date when title vests pursuant to such taking. The rent, and
any additional rent, shall be apportioned as of the
termination date, and any rent paid for any period beyond
that date shall be repaid to Lessee. Lessee shall not be
entitled to any part of the award for such taking or any
payment in lieu thereof; but Lessee may file a claim for any
taking of fixtures and improvements owned by Lessee, and for
moving expenses.
11. Tax. Lessor is solely responsible for all current tax's
and any increase during any year of the term of this lease
in the City, County or State real estate taxes over and
above the amount of such taxes assessed for the tax year
during which the term of this lease commences, whether
because of increased rate of valuation.
12. Waiver. No failure of Lessor to enforce any term hereof
shall be deemed to be a waiver.
13. Notices. Any notice which either party may or is
required to give, shall be given by mailing the same,
postage prepaid, to Lessee at the premises, or Lessor at the
address specified above, or at such other places as may be
designated by the parties from time to time.
14. Heirs, Assigns, Successors. This lease is binding upon
and inures to the benefit of the heirs, assigns and
successors in interest to the parties.
15. Option to Renew. Provided tint Lessee is not in default
in the performance of this lease, Lessee shall have the
option to renew the lease for an additional term of 12
months commencing at the expiration of the initial lease
term. All of the terms and conditions of the lease shall
apply during the renewal term. The annual rental shall be
the sum of $1,500.00. The option shall be exercised by
written notice given to Lessor not less than 30 days prior
to the expiration of the initial lease term. If notice is
not given in the manner provided herein within the time
specified, this option shall expire.
16. Subordination. This lease is and shall be subordinated
to all existing and future liens and encumbrances against
the property.
17. Radon Gas Disclosure. As required by law, (Landlord)
makes the following disclosure: "Radon Gas" is a naturally
occurring radioactive gas that when it has accumulated in a
building in sufficient quantities, may present health risks
to persons who are exposed to it over time. Levels of radon
that exceed federal and state guidelines have not been found
in buildings.
18. 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 a part of this lease before the parties'
execution hereof.
Signed this 15 day of September, 2002
By: /s/ Xxxx Xxxxxx . Lessor By: /s/ Xxxxxx X. Xxxxxxx . Lessee
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Xxxx Xxxxxx Ginseng Forest Inc.
Owner/Landord Xxxxxx X. Xxxxxxx
President
