STATE OF NORTH CAROLINA
COUNTY OF MEBANE
LEASE
THIS CONTRACT, made this 1st day of May 2002, by and between LJ Properties of
Mebane, LLC, LESSOR, party of the first part, and Generacion Latina, Inc.,
party of the second part.
WITNESSETH
That the Lessor hereby demises unto the Lessee the premises, land and building
located at 0000 Xxxxxx Xxxx Xxxx, Xxxxxx, Xxxxx Xxxxxxxx, 00000, consisting of
2.4 acres and approximately 24,000 square feet of office, warehouse and
distribution space.
This lease is executed upon the following terms and conditions: The Lessee
agrees to pay rent for the leased premises at the rate of $6,000.00 per month,
payable in advance on or before the 10th day of each month during the term.
The term of lease being for 5 years with 2 five year options renewable at same
rate plus a cost of inflation increase. Concurrently with the
execution of this lease , Lessee shall have the option to purchase said
property for a sum of $1,000,000 with all rent payments being applied as a
down payment towards purchase if Lessor executes such option within 2 years
from the date of this lease. The Lessse shall pay all real estate taxes and
assessments, levied or assessed upon the premises, together with all fire
insurance premiums, water and sewer service. The Lessee shall pay all
utilities and trash service incurred in connection with the use of the leased
premises during the term of this agreement. This lease shall not be assigned,
or premises sublet , without the written consent of Lessor.
If during the term of this lease the leased premises are so damaged by fire,
tornado, or other catastrophe or casualty as to render the same uninhabitable,
this lease shall terminate.
If the Lessee shall fail or neglect to make any payment on due date, or shall
violate any term of the provisions of this lease, the Lessor , without any
other notice or demand , may terminate this lease and require the lessee to
vacate therefrom, or the Lessor may in lieu of the above or in conjunction
therewith pursue any other lawful right or remedy incident to the relationship
by this lease.
IN TESTIMONY WHEREOF, the parties have set their hand and seals, the day and
year written above.
___________________________________ ________________________
XXXXXX, XX PROPERTIES OF MEBANE,LLC Date
Xxxxxx X. Xxxxxxxx, President
__________________________________ ________________________
LESSEE, GENERACION LATINA,INC. Date
Xxxx Xxxxxx, President
