EXHIBIT 6.3
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REAL ESTATE LEASE
This Lease Agreement (this "Lease") is dated March 01, 2000, by and between J &
J Holdings, Inc. ("Landlord"), and Legends of the Faith, Inc. ("Tenant"). The
parties agree as follows:
PREMISES. Landlord, in consideration of the lease payments provided in this
Lease, leases to Tenant Commercial Building of Approximately 10,000 square feet
referred to as space "B" (the "Premises") located at 0000 Xxxxxxxx Xxxx.,
Xxxxxx, XX 00000.
TERM. The lease term will begin on March 01, 2000 and will terminate on March
31, 2000, with automatic renewal of 30 days each thereafter until terminated as
stated below.
LEASE PAYMENTS. Tenant shall pay to Landlord monthly installments of $5,000.00,
payable in advance on the first day of each month, with the amount of $3500 for
consideration of the first months lease. Lease payments shall be made to the
Landlord at X.X. Xxx 000, Xxxxx, XX 00000, which address may be changed from
time to time by the Landlord.
SECURITY DEPOSIT. At the time of the signing of this Lease, Tenant shall pay to
Landlord, in trust, a security deposit of $5,000.00 to be held and disbursed for
Tenant damages to the Premises (if any) as provided by law. Said deposit may be
used for last month's rent only upon written agreement by Landlord following
inspection of the property.
POSSESSION. Tenant shall be entitled to possession upon signing of this Lease,
and shall yield possession to Landlord on the last day of the term of this
Lease, unless otherwise agreed by both parties in writing. At the expiration of
the term, Tenant shall remove its goods and effects and peaceably yield up the
Premises to Landlord in as good a condition as when delivered to Tenant,
ordinary wear and tear excepted.
USE OF PREMISES. Tenant may use the Premises only for Office, Light
Manufacturing, Storage. The Premises may be used for any other purpose only with
the prior written consent of Landlord, which shall not be unreasonably withheld.
Tenant shall notify Landlord of any anticipated extended absence from the
Premises not later than the first day of the extended absence.
PROPERTY INSURANCE. Tenant shall maintain casualty insurance on the Premises in
an amount not less than $1,000,000.00. Landlord shall be named as an additional
insured in such policies. Tenant shall deliver appropriate evidence to Landlord
as proof that adequate insurance is in force issued by companies reasonably
satisfactory to Landlord. Landlord shall receive advance written notice from the
insurer prior to any termination of such insurance policies. Tenant shall also
maintain any other insurance which Landlord may reasonably require for the
protection of Landlord's interest in the Premises. Tenant is responsible for
maintaining casualty insurance on its own property.
LIABILITY INSURANCE. Tenant shall maintain liability insurance on the Premises
in a total aggregate sum of at least $1,000,000.00. Tenant shall deliver
appropriate evidence to Landlord as proof that adequate insurance is in force
issued by companies reasonably satisfactory to Landlord. Landlord shall receive
advance written notice from the insurer prior to any termination of such
insurance policies.
RENEWAL TERMS. This Lease shall automatically renew for an additional period of
30 days each per renewal term, unless either party gives written notice of
termination no later than 30 days prior to the end of the term or renewal term.
The lease terms during any such renewal term shall be the same as those
contained in this Lease.
MAINTENANCE. Tenant shall have the responsibility to maintain the Premises in
good repair at all times during the term of this Lease.
UTILITIES AND SERVICES. Tenant shall be responsible for all utilities and
services incurred in connection with the Premises.
TAXES. Taxes attributable to the Premises or the use of the Premises shall be
allocated as follows:
REAL ESTATE TAXES. Landlord shall pay all real estate taxes and assessments for
the Premises.
PERSONAL TAXES. Tenant shall pay all personal taxes and any other charges which
may be levied against the Premises and which are attributable to Tenant's use of
the Premises, along with all sales and/or use taxes (if any) that may be due in
connection with lease payments.
TERMINATION UPON SALE OF PREMISES. Notwithstanding any other provision of this
Lease, Landlord may terminate this lease upon 30 days' written notice to Tenant
that the Premises have been sold.
DESTRUCTION OR CONDEMNATION OF PREMISES. If the Premises are partially destroyed
by fire or other casualty to an extent that prevents the conducting of Tenant's
use of the Premises in a normal manner, and if the damage is reasonably
repairable within sixty days after the occurrence of the destruction, and if the
cost of repair is less than $10,000.00, Landlord shall repair the Premises and a
just proportion of the lease payments shall xxxxx during the period of the
repair according to the extent to which the Premises have been rendered
untenantable. However, if the damage is not repairable within sixty days, or if
the cost of repair is $10,000.00 or more, or if Landlord is prevented from
repairing the damage by forces beyond Landlord's control, or if the property is
condemned, this Lease shall terminate upon twenty days' written notice of such
event or condition by either party and any unearned rent paid in advance by
Tenant shall be apportioned and refunded to it. Tenant shall give Landlord
immediate notice of any damage to the Premises.
DEFAULTS. Tenant shall be in default of this Lease if Tenant fails to fulfill
any lease obligation or term by which Tenant is bound. Subject to any governing
provisions of law to the contrary, if Tenant fails to cure any financial
obligation within 5 days (or any other obligation within 5 days) after written
notice of such default is provided by Landlord to Tenant, Landlord may take
possession of the Premises without further notice (to the extent permitted by
law), and without prejudicing Landlord's rights to damages. In the alternative,
Landlord may elect to cure any default and the cost of such action shall be
added to Tenant's financial obligations under this Lease. Tenant shall pay all
costs, damages, and expenses (including reasonable attorney fees and expenses)
suffered by Landlord by reason of Tenant's defaults. All sums of money or
charges required to be paid by Tenant under this Lease shall be additional rent,
whether or not such sums or charges are designated as "additional rent". The
rights provided by this paragraph are cumulative in nature and are in addition
to any other rights afforded by law.
LATE PAYMENTS. For any payment that is not paid within 5 days after its due
date, Tenant shall pay a late fee of $100.00.
HOLDOVER. If Tenant maintains possession of the Premises for any period after
the termination of this Lease ("Holdover Period"), Tenant shall pay to Landlord
lease payment(s) during the Holdover Period at a rate equal to the normal
payment rate set forth in the Renewal Terms paragraph.
CUMULATIVE RIGHTS. The rights of the parties under this Lease are cumulative,
and shall not be construed as exclusive unless otherwise required by law.
NON-SUFFICIENT FUNDS. Tenant shall be charged $50.00 for each check that is
returned to Landlord for lack of sufficient funds.
INDEMNITY REGARDING USE OF PREMISES. To the extent permitted by law, Tenant
agrees to indemnify, hold harmless, and defend Landlord from and against any and
all losses, claims, liabilities, and expenses, including reasonable attorney
fees, if any, which Landlord may suffer or incur in connection with Tenant's
possession, use or misuse of the Premises, except Landlord's act or negligence.
NOTICE. Notices under this Lease shall not be deemed valid unless given or
served in writing and forwarded by mail, postage prepaid, addressed as follows:
LANDLORD:
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J & J Holdings, Inc.
Xxx 000
Xxxxx, XX 00000
TENANT:
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Legends of the Faith, Inc.
0000 Xxxxxxxx Xxxx. #X
Xxxxx, XX 00000
Such addresses may be changed from time to time by either party by providing
notice as set forth above. Notices mailed in accordance with the above
provisions shall be deemed received on the third day after posting.
GOVERNING LAW. This Lease shall be construed in accordance with the laws of the
State of Nevada.
ENTIRE AGREEMENT/AMENDMENT. This Lease Agreement contains the entire agreement
of the parties and there are no other promises, conditions, understandings or
other agreements, whether oral or written, relating to the subject matter of
this Lease. This Lease may be modified or amended in writing, if the writing is
signed by the party obligated under the amendment.
SEVERABILITY. If any portion of this Lease shall be held to be invalid or
unenforceable for any reason, the remaining provisions shall continue to be
valid and enforceable. If a court finds that any provision of this Lease is
invalid or unenforceable, but that by limiting such provision, it would become
valid and enforceable, then such provision shall be deemed to be written,
construed, and enforced as so limited.
WAIVER. The failure of either party to enforce any provisions of this Lease
shall not be construed as a waiver or limitation of that party's right to
subsequently enforce and compel strict compliance with every provision of this
Lease.
BINDING EFFECT. The provisions of this Lease shall be binding upon and inure to
the benefit of both parties and their respective legal representatives,
successors and assigns.
LANDLORD:
J & J HOLDINGS, INC.
By: /s/ Xxxx Xxxxxxx Date: February 25, 2000
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Xxxx Xxxxxxx,President
TENANT:
LEGENDS OF THE FAITH, INC.
By: /s/ Xxxx Xxxxxxx Date: February 25, 2000
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Xxxx Xxxxxxx, President
