Exhibit 10.1
LAND LEASE
This Land Lease (hereinafter "Lease") is entered into this 3rd day of November,
2006, by and between the Lessor: Zion Half Moon LP, and the Lessee: American
Soil Technologies, Inc.
For the valuable consideration described below, the sufficiency of which is
hereby acknowledged, Lessor and Lessee do hereby covenant, contract and agree as
follows:
GRANT OF LEASE: Lessor does hereby lease unto Lessee approximately 100 acres of
land located in San Mateo county California, described as follows: Part of
Parcel six (6) of the real property commonly known as Skywood Ranch beginning at
and bordering Skyline as shown on the attached map.
And to be used only as follows: a campus for agriculture and horticulture
demonstrations
Lessee will obtain insurance holding Zion Half Moon, LP and all its partners
harmless from any and all litigation resulting from injuries by any person or
any actions by lessee upon said property.
Lessor and his designees reserve the right of ingress and egress across the
leased land to obtain access to adjacent land.
TERM AND PAYMENT: This Lease shall commence on November 3, 2006, and expire on
November 2, 2013 for said term, Lessee agrees to pay Lessor total rent of
$700,000, (seven hundred thousand), as described below:
Rent shall be paid: In advance, and no later than the first day of each rental
period for a given year on a yearly basis.
CONSEQUENSES OF BREACH: In the event of breach of this Lease by the failure of
Lessee to timely pay the rent herein set forth, or by any other violation of the
terms hereof, then Lessor may, at his option, terminate this Lease, evict
Lessee, and recover the total rental for the entire term of this Lease, in the
amount of $700,000, (seven hundred thousand) plus expenses as contractual
damages as Lessor's contractual damages. Lessor shall also be entitled to
recover all attorney fees and costs of court from Lessee.
SPECIAL PROVISIONS:
Lessor acknowledges receipt of the first year rent in the amount of $100,000 and
a security deposit in the amount of $100,000.
THIS LEASE REPRESENTS THE ENTIRE AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE
ALTERED OTHER THAN BY A WRITING SIGNED BY BOTH PARTIES. THIS LEASE IS BINDING ON
THE HEIRS, TRANSFEREES AND ASSIGNS OF THE PARTIES, HOWEVER LESSEE MAY NOT
TRANSFER, SUB-LET OR ASSIGN HIS/HER LEASE WITHOUT THE WRITTEN CONSENT OF LESSOR.
THIS LEASE IS MADE UNDER APPLICABLE LAW AND IS NOT TO BE CONSTRUED AS A
LIMITATION ON ANY LEGAL RIGHTS AND REMEDIES AVAILABLE TO THE PARTIES UNDER
APPLICABLE LAW.
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WITNESS THE SIGNATURES OF THE PARTIES:
LESSOR: Zion Half Moon, LP Date: November 3, 2006
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By /s/ Xxx Xxxx
LESSEE: American Soil Technologies, Inc. Date: November 3, 2006
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By: /s/ Xxxx X. Xxxxx, President/CEO