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Exhibit 10.3
J&D MINI-STORAGE, landlord, hereby rents to Xxxxx Xxxxxx (tenant) Storage
Unit No. 46 of that certain building whose address is Bay Shore for a minimum of
one month and upon the following terms and conditions:
1. Rent for the storage unit is $110.00 per month payable in advance on the
1st day of each calendar month and remitted to landlord at the address stated
above. This lease will terminate at the end of the prepaid period unless it is
renewed each month by tenant paying the monthly rental in advance as provided
herein. Landlord hereby acknowledges the payment of $73.40 for rental from
8-10-98 to 8-31-98 for 1 14x40. Deposit of $110 hereby collected, will be
refunded upon vacating the unit. The deposit may be applied to the last month's
rent.
2. Tenant hereby agrees that the storage unit will not be used for an
unlawful purpose nor will tenant store explosives, highly inflammable materials
or extra-hazardous goods of any nature in the unit.
3. Tenant has inspected the unit and the unit is accepted by tenant in its
present condition, and tenant will at all times keep the unit neat, clean and in
a sanitary condition and return it to landlord in the same condition as when
received by tenant, usual wear and tear accepted. Except for structural
components, all repairs shall be tenant's sole cost and expense.
4. It is hereby agreed that landlord is not engaged in the business of
storing goods for hire nor in the warehousing business [ILLEGIBLE] simply a
landlord renting a storage unit in which tenant can store items of personal
property owned by tenant. Therefore, all [ILLEGIBLE] property on or in the
storage unit shall be at the risk of the tenant and landlord shall not be
liable for any damage, either to [ILLEGIBLE] property, sustained by tenant or
others, caused by the acts of others or any defects now in the unit and tenant
hereby [ILLEGIBLE] and hold landlord harmless from any and all claims for
damages suffered or alleged to be suffered in or about the [ILLEGIBLE].
5. Landlord will not maintain supervision or control over the storage unit
rented herein but said unit is under the exclusive control of tenant and tenant
must take whatever steps necessary to safeguard whatever property is stored in
the unit. If the tenant desires to keep the unit locked, he must provide his own
locks and keys and must be fully responsible for possession of the keys.
Landlord maintains insurance on the entire building structure, but said
insurance does not provide for coverage for property belonging to tenant. If
tenant wishes to have his property covered by insurance tenant must apply for
separate coverage. Landlord shall not be responsible or liable, directly or
indirectly, for loss or damage to the property of tenant in the storage unit no
matter what the cause, including fire, explosion, theft, wind or water damage.
6. Tenant will allow landlord free access at all reasonable times to the
unit for the purpose of inspection, making repairs, additions, or alterations to
the unit that may be required under landlord's obligations contained herein, but
this right shall not be construed as an agreement on the part of the landlord to
make any repairs.
7. Should tenant fail to pay the rent when due or fail to vacate the unit
promptly upon expiration of this lease, landlord shall have and is hereby
granted by the tenant the following rights:
[ILLEGIBLE]break and remove any lock belonging to tenant on the door, enter
the storage unit and inspect the contents and replace [ILLEGIBLE] lock with one
belonging to landlord until such contents are disposed of by landlord in the
manner hereinafter provided. The [ILLEGIBLE] will charge $5.00 lock up charge.
[ILLEGIBLE]before disposing of the contents by public or private sale,
which sale may be conducted upon such terms and conditions as are [ILLEGIBLE],
landlord will mail to tenant a written notice that landlord has taken possession
of such contents and will dispose of the [ILLEGIBLE] following the expiration of
ten (10) consecutive days following the date the notice is mailed.
[ILLEGIBLE] When said ten days has elapsed, landlord may dispose of the
contents of the unit at public or private sale. The proceeds of such sale to be
applied first to the costs of such sale, second to payment of the charges which
may then be due from tenant to landlord under any of the terms of this lease
agreement, and any excess will be deposited in landlord's trust account.
Landlord will then notify tenant of such excess and will thereafter hold the
excess for a period of ninety (90) days from the date of the giving of the
notice herein. If tenant shall demand the excess and give landlord a receipt
therefore, the excess funds shall be released to tenant. Failure of tenant to
demand such excess within the ninety-day period or fail to receipt for the funds
shall terminate the trust and landlord [ILLEGIBLE] titled to retain the excess
funds.
[ILLEGIBLE]if any of the contents of the storage unit to be disposed of
consist of papers, pictures, documents or like personal property [ILLEGIBLE]
might not be considered to have any significant sale value, landlord may dispose
of same in any reasonable manner.
8. If tenant leased the unit for a specific term, and at the expiration of
said term continues to pay rent and occupy the unit, [ILLEGIBLE] occupancy of
said unit shall be as a tenant from month-to-month at the above monthly rent,
and tenant hereby agrees that all the covenants and conditions contained herein
shall continue in full force and effect so long as tenant retains possession of
the unit.
9. The parties hereto do each hereby release and relieve the other, and
waive their entire claim of recovery for loss or damage to property arising out
of or incident to fire, lightning, and the perils included in any extended
coverage endorsement, in, on or about the said unit, whether due to the
negligence of any of the parties, their agents or employees or otherwise.
10. Tenant shall not assign this lease or any part thereof and shall not
let or sublet the whole or any portion of the unit leased herein without the
written consent of the landlord.
11. Any notice required to be given under this lease shall be in writing
and shall be sent by certified mail, return receipt requested, and addressed to
the [ILLEGIBLE] at the addresses shown below. Any such notice shall be deemed to
have been given at the time [ILLEGIBLE] duly deposited in the United States mail
system.
12. No term or condition herein may be waived or changed other than by
written agreement, and tenant agrees that only an [ILLEGIBLE] of landlord may
authorize any specific waiver, modification or extension of any of the terms or
conditions herein. This lease [ILLEGIBLE] binding upon the parties, their heirs,
successors, personal representatives and assigns.
13. The landlord reserves the right to raise the rent with thirty (30) days
notification.
Accepted and agreed to:
/s/ X Xxxxxx President
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Tenant Learnsat Systems, Inc. Dated this 10th day of Aug [ILLEGIBLE]
Address 0000 X. Xxxxxxx Xxxx J&D MINI-STORAGE, Landlord /s/ Xxxxxx
[ILLEGIBLE]
City Stillwater State OK Zip 74074 Phone# 000-000-0000
