Exhibit 10.17
Lease Agreement
This Lease is made by and between LESSOR: Xxxx Xxx Construction Ltd.
(hereinafter referred to as "Party A"), LESSEE: Kid Castle Internet Technology
Corporation (hereinafter referred to as "Party B") and Party B's Guarantor:
(intentionally blank) (hereinafter referred to as "Party C") for the lease of
premises hereunder. All parties agree to abide by the terms and conditions set
forth as follows:
1. Premises under the Lease: 0xx Xxxxx, Xx. 000, Xxxx-Xxxxx Xxxx, Xxxxxxxx
Xxxx, Xxxxxx Xxxxxx, under the Lease.
2. The term of the Lease shall be Four years and Six months, commencing from
November 1st, 2004 to April 30th, 2009.
3. The monthly rental: NT$165,000(ONE HUNDRED SIXTY FIVE THOUSAND NT Dollars)
(with a receipt originally issued for the payment of the rental by Party
A) shall be paid by Party B without delay or rejection in any
circumstances (the aforesaid rental is exclusive of electricity and water
charges). (tax charge included).
4. The rental shall be paid before the 1st day of each month. The rental
shall be paid based on a one year period, and Party B shall not delay in
paying any rental due for any reason.
5. Party B shall pay a rental deposit of NT$500,000 (FIVE HUNDRED THOUSAND NT
Dollars) to Party A upon signing of this Lease. The said rental deposit
shall be returned to Party B without interest upon expiration of this
Lease, if Party B does not request a lease renewal and vacates and
surrenders the Premises to Party A.
6. Upon expiration of this Lease expect renewal of the Lease is agreed by
Party A, Party B shall restore the Premises to the original condition and
thereupon, vacate and surrender the Premises to Party A without making any
excuse or claiming any right. In case the Premises shall be surrendered to
Party A after delays, Party B shall be liable for a default penalty
equivalent to 500% of the rental on a monthly basis until the date of
surrender of the Premises, to which Party B and Party C shall have no
objection.
7. During the term of this Lease before its expiration, in the event that
Party B desires to move out of the Premises, Party B shall not request any
rental refund, moving costs or
other royalties under other denominations from Party A, and Party B shall
unconditionally restore the Premises to the original condition and return
the Premises to Party A without objection.
8. Prior to consent by Party A during the term of this Lease, Party B shall
not, in whole or in part, have the Premises lent, subleased or transferred
to any third party, or in any other way provided for use by any third
party.
9. Party B may make alternations of partitions and/or facilities in the
Premises as Party B deems necessary; construction work can only begin upon
consent given by Party A and shall not damage the main structure and the
facilities of the building. Party B shall be responsible for the
restoration of the Premises when returning the Premises to Party A.
10. Party B shall not use the Premises for any illegal use, nor for storing
hazardous articles that will cause public danger.
11. Party B shall use the Premises with the degree of care of a responsible
administrator. Unless the damage or destruction is caused by acts of God
or other force majeure, Party B shall be responsible for the damages
attributed to Party B's negligence. If the Premises provided by Party A
are damaged or destroyed due to nature, or due to normal wear and tear,
Party A shall be responsible for the reparation.
12. In the event that Party B violates any provisions of this Lease and causes
damages to Party A, Party B hereby shall be fully responsible for
compensating such damage or loss. Party B shall pay for Party A's court
costs and attorney's fees in the event that the court action is
instituted.
13. In the event that Party B violates any provisions of this Lease or causes
damages to the Premises, Party C shall be jointly liable for the loss
Party A shall incur and abandon the right of counteraction voluntarily.
14. Parties A, B and C shall observe and abide by the provisions of this
Lease. In the event that any party shall violate any provisions thereof,
Party A may terminate this Lease thereupon from time to time, and Party A
shall in no circumstances be liable for the loss Party B shall incur.
15. Stamp duties are borne by Parties A and B equally. All taxes relating to
the Premises shall be borne by Party A; whereas the expenses involved in
the water supply, electricity and other taxes relating to business
operations of Party B shall be borne by Party B.
16. In the event that the house tax and income tax owing to the leased
Premises are increased and thus, higher than the amount before the Lease,
Party B shall bear such difference incurred therefrom without objection.
17. Any article left inside the Premises, upon expiration of this Lease after
Party B vacates the Premises, shall be deemed to be abandoned at the
disposal of Party A as waste, to which Party B shall have no objection.
In witness whereof Parties A and B have agreed terms and conditions hereto and
signed the Lease. The Agreement is made in duplicate, each party shall hold one
to refer.
The Parties:
Lessor (Party A): Xxxx Xxx Construction Ltd.
Business Uniform No.: 97273435
Responsible person: /s/ Xxx Xxxxx-Xxxx
Lessee (Party B): Kid Castle Internet Technology Corporation
Business Uniform No.: 70676630
Responsible person: /s/ Wang, Kuo-An
Party C: (intentionally blank)
ID No.: (intentionally blank)
Address: (intentionally blank)
Date: November 1, 2004
