Exhibit 10.11
LEASE AGREEMENT
THIS AGREEMENT made in duplicate on June 26, 2000
BY AND BETWEEN
XXXXXXX X. XXXXXX, LANDLORD
AND Business Bank of California
IN CONSIDERATION of the payment of rent and the performance of various
covenants, conditions and agreements herein contained, Landlord leases to Tenant
the following described premises and property, which Tenant accepts in its
present condition upon the terms, provisions and conditions of this Lease
Agreement;
LEASED PREMISES:
000 X. Xxxxxxxxx Xxx, Xxx Xxxxxxxxxx, Xx 00000
being a commercial area and office units,
1. TENANT'S COVENANTS: In consideration of the mutual promises, covenants
and agreements contained herein, Tenant covenants and agrees with Landlord as
follows:
(a) To pay rent promptly when due;
(b) To commit no waste of the leased premises nor to permit any acts to be
done thereon in violation of any law or ordinance, and not to use or
permit the use of the leased premises for any illegal purpose;
(c) To pay and discharge all taxes and assessments levied or assessed
against the personal property of the Tenant situated upon the leased
premises;
(d) To keep the interior and exterior of the leased premises in a clean
and orderly condition at all times during the term of this lease;
(e) Upon expiration of the term stated herein, or upon sooner termination
of this lease for any reason, to quit and surrender up the premises in
as good order and condition as reasonable use and wear will permit,
damage by the elements and other casualty excepted; provided, however,
if Tenant holds over after said term with the consent of the Landlord,
express or implied, such tenancy shall be construed as a tenancy from
month to month upon the same terms and conditions as herein provided,
and the Tenant agrees to pay rent and other charges prevailing at the
expiration of said term, as herein provided;
(f) To save and hold harmless the Landlord from all liability and claim
for damages by reason of any injury to any person or persons,
including Tenant, or property of any kind whatsoever and to whomsoever
belonging,
including Tenant's from any cause or causes whatsoever while in, upon,
or in any way connected with the said leased premises during the term
of this rental or any extension thereof or any occupancy hereunder,
Tenant hereby covenanting and agreeing to indemnify and save harmless
Landlord from all Liability, loss, cost and obligations on account of
or arising out of any such injuries or losses however occurring,
except as to any damage or injury caused by acts or omissions of the
Landlord or his agents;
(g) To make no structural alternations or repairs to the leased premises
without the written consent of the Landlord first had and obtained and
that such consent shall not be unreasonably withheld;
(h) To pay and discharge all mechanics liens which may be filled against
the rented premises during the term hereof or within sixty (60) days
thereafter, which liens are filed by leased premises by or at the
instance and request of the tenant. All sums expended by the Landlord
in discharge of said liens shall be repaid to Landlord by Tenant
immediately on demand.
2. BUSINESS FIXTURES AND EQUIPMENT: It is expressly understood and agreed
that Tenant may install business fixtures and equipment as may be necessary
in the proper conduct of his business, and he may remove same upon
expiration or termination of this lease, provided however that any damage
caused by installation or removal shall be repaired by the Tenant; and in
the event that the Tenant fails to do so, Landlord may repair any such
damage and the Tenant shall be liable for the full cost thereof upon
demand.
3. DEFAULT: If default is made in the payment of rent of any sum herein
agreed to be paid by the tenant, and not cured after ten (10) days'
written notice, or in the performance of any agreement herein on its
part to be performed and not cured after thirty (30) days' written
notice, or if the Tenant be adjudged bankrupt or insolvent, then and
in no event, the entire unpaid balance due for rent during the
unexpired portion of the original term or any extended option period
of this lease shall become immediately due and payable and shall not
be apportioned, and it shall be lawful for the Landlord to re-enter
upon the leased premises and take possession of them without process
of law, and to terminate the lease.
4. NOTICE: Any notice that either of the parties shall desire to give to
the other party may be sent by register or certified mail, postage
prepaid, return receipt requested, addressed to the party at its
address as set forth herein, and it will be deemed received when
deposited in the mail, or it may be delivered in person.
5. ATTORNEYS' FEES: In the event either party or any assignee defaults
and the other party commences legal proceedings to enforce the terms
of this lease, or to terminate the tenancy herein, the prevailing
party in any such action shall recover a reasonable sum as the Court
may fix as attorneys' fees in addition to all other damages or relief
granted.
6. ASSIGNMENT: The Tenant shall not assign this rental nor sublet any
portion of the whole of the lease premises, except as otherwise may be
provided herein, without the written consent of the Landlord first had
and
obtained and that such consent shall not be unreasonable withheld and
any such consent of the Landlord to any assignment or subletting once
given shall not be deemed to be a waiver of this covenant against
subsequent assignment and subletting.
7. CONDEMNATION: Where the entire or a substantial portion of the
premises are condemned in a proceeding under eminent domain, the lease
is terminated as of the date that Tenant is required to vacate the
premises on written notice by Landlord or process of law pursuant to
such condemnation proceedings; and the Tenant is relieved of the
obligation to pay rent thereafter and not before. In the event of such
condemnation proceedings the entire award for the taking of the land,
buildings, and improvements owned by the Landlord shall belong to the
Landlord.
8. WAIVER: The waiver by Landlord of any breach of any term, covenant or
condition of this rental shall not be deemed to be a waiver of such
term, covenant or condition or any subsequent breach of the same or
any other term, covenant or condition. The subsequent acceptance of
rent hereunder by Landlord shall not be deemed to be a waiver of any
preceding breach by Tenant of any term, covenant or condition of this
rental concerning which Landlord did not have notice.
9. PUBLIC LIABILITY INSURANCE: The tenant shall obtain and maintain in
force during the term of this rental or any extension or renewal
thereof, public liability insurance protecting the Landlord and the
Leasee against liability to the public and third persons from any act
or omission arising
from Xxxxxx'x use or occupancy of the leased premises with insured
limits of liability not less than $100,000/$300,000. The Tenant shall
furnish Landlord with certificates of such insurance coverage, or
copies of insurance policies showing compliance with this paragraph.
10. GOVERNING LAW: This rental shall be governed by and shall be construed
under the laws of the State of California. Tenant shall, at its cost
and expense, comply with Federal, State, County, Municipal, and other
governmental statues, ordinances, laws and regulations affecting the
premises or any activity or condition on the premises.
11. CHANGES AND AMENDMENTS: This lease agreement may not be changed or
amended except by written agreement signed by all parties to the
Rental.
12. RENTAL CONSTRUED AS A WHOLE: The language in all parts of this Rental
shall in all cases be construed as a whole according to its fair
meaning upon the premises and recitals stated herein, and not strictly
for or against either Landlord or Tenant.
13. UTILITIES: The tenant shall pay and discharge as same become due and
payable all charges and assessments for public utilities, electric
power and gas furnished to the rented premises during the term of this
Lease.
14. USE: Any lawful use
15. RENT: In consideration of the granting of this rental, Tenant promises
and agrees to pay Landlord at San Bernardino, California, the
following sums per month as rent, payable monthly in advance beginning
on the first day of the term hereof and continuing on the first day of
each successive calendar month thereafter during the term of this
rental:
The sum of $ 2,250.00, Two Thousand Two Hundred Fifty Dollars and
no/100.
16. REPAIRS AND MAINTENANCE BY TENANT: Tenant at its expense shall be
responsible for all repairs and maintenance of the entire leased
premises during the term of this Leased property except for the roof
and exterior painting, but including walls, interior painting and
decorating, the plumbing, pipes and plumbing fixtures, electrical
wiring and fixtures, floor and windows. The exterior of the rented
premises must be kept free and clear of debris at all times. Upon
assuming possession of the leased premises, the Tenant acknowledges
that heating and air conditioning equipment situated thereon and
installed for the use of the leased premises are in operable condition
at the beginning of the term of this rental and all maintenance and
necessary replacement of any air conditioning equipment and heating
shall be the responsibility of Tenant at its expense during the term
hereof. Landlord to upgrade air conditioning to a satisfactory level
agreeable by both the tenant and the landlord.
17. IMPROVEMENTS BY TENANT: Any improvements, additions to or alterations
of the rented premises, except moveable furniture and trade fixtures,
shall become at once a part of the realty and belong to Landlord, and
shall not be moved by Tenant upon the termination of this rental.
18. TIME OF THE ESSENCE: Time is of the essence concerning the performance
by Landlord and Tenant of all terms, provisions, conditions and
covenants of this Rental.
19. BINDING ON SUCCESSORS: The covenants and conditions herein contained
shall, subject to the provisions as to assignment, apply to and bind
the heirs, successors, executors, administrators, and assigns of all
the parties hereto.
20. AUTHORITY TO ENTER INTO RENTAL: Tenant acknowledges it has caused its
corporate name and seal to be affixed hereto, and this Rental shall be
executed by its President and/or Executive Vice President, who are
duly authorized to do so pursuant to its By-Laws or a resolution of
its Board.
21. PARKING: 20 spaces will be allotted.
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement
the day and year first above written.
22. TERM OF LEASE: This lease shall be for a term of one-year beginning
August 1, 2000, with the option to renew annually.
23. TERMINATION OF LEASE: If Leasee is unable to take possession the
leased premises by August 15, 2000, this lease shall be terminated
immediately.
/s/ Xxxxxxx X. Xxxxxx
--------------------------
LANDLORD
Xxxxxxx X. Xxxxxx
0000 Xxxxx "X" Xxxxxx
Xxx. 0
Xxx Xxxxxxxxxx, XX
Accepted and approved:
Business Bank of California
/s/
--------------------------
Dated this day June 26, 2000
