Exhibit 10.12
Lease Agreement
This Lease is made by and between LESSOR : Xxxx, Xx-Ru
(hereinafter referred to as "Party A")and LESSEE : Kid Castle Internet
Technology (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, Xxxxx-Xxx Xxxx, Xxxxxxxx
Xxxx, Xxxxxx Xxxxxx, under the Lease.
2. The term of the Lease shall be one year, commencing from January 1st, 2005
to December 31st, 2005.
3. The monthly rental : NT$22,279(TWENTY TWO THOUSAND TWO HUNDRED SEVENTY
NINE New Taiwan Dollars) (with a receipt originally issued for the payment
of the rental by Party A) shall be paid by Party B without delay or
rejection in any circumstances (the aforesaid rental is exclusive of
electricity and water charges).
4. The rental shall be paid before the 1st day of each month. The rental
shall be paid based on a one year period, and Party B shall not delay in
paying any rental due to any excuse.
5. Party B shall pay a rental deposit of NT$ (Intentionally Blank) 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, when Party B does
not request for a lease renewal and has already vacated and surrendered
the Premises to Party A.
6. Upon expiration of this Lease when no renewal is agreed to by Party A,
Party B shall restore the Premises to the original condition 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 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, transferred,
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 such construction work shall not damage the
main structure and facilities of the building. Upon returning the
Premises, Party B shall be responsible for the restoration of the
Premises.
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 reparation of
damages attributable 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 or 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
damage 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 without any prior notice, and shall in no
circumstances have any concern with the loss Party B shall incur.
15. Stamp duties are borne by Parties A and B, respectively. All taxes
relating to the Premises shall be borne by Party A; whereas the expenses
involved in the water supply, electricity and other taxes concerning
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 paid 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.
18. The rental tax payable shall be paid by Party B to the tax collection
office upon receiving tax statement(s), while Party B shall collect the
tax amount in total prepaid by it from Party A at the end of the year.
In witness whereof Parties A and B have agreed terms and conditions hereunto and
signed the Lease. The Agreement is made in duplicate, each party shall hold one
to refer.
The Parties:
Lessor (Party A): /s/ Xxxx, Xx-Ru
ID No.: A223718115
Lessee (Party B): /s/ Kid Castle Internet Technology
ID No.: 70676630
Party C: (Intentionally Blank)
ID No.: (Intentionally Blank)
Address: (Intentionally Blank)
Date: December 31st, 2004
