Daybreak Oil and Gas, Inc. Off: (509) 232-7674 Fax: (509) 455-8483 OFFICE LEASE AGREEMENT BETWEEN: TERRANCE J. DUNNE & ASSOCIATES INC. (The Tenant) AND DAYBREAK OIL AND GAS, INC. (The Subtenant)
Exhibit
10.41
Daybreak
Oil and Gas, Inc.
000
Xxxx
Xxxx Xxx Xxxxx
0000 Xxxxxxx,
XX 00000
Off:
(509)
232-7674 Fax:
(000) 000-0000
BETWEEN:
XXXXXXXX X. XXXXX & ASSOCIATES INC. (The Tenant)
AND
DAYBREAK
OIL AND GAS, INC. (The Subtenant)
WHEREAS,
the Tenant leases a total of 3,136 rentable square feet from Xxxxxx Xxxxx
Corporation (The Landlord) pursuant to a Lease Renewal and Modification
Agreement for the term commencing on May 1, 2007 and ending on April 30,
2008;
AND
WHEREAS, the Subtenant has agreed to sublease from the Tenant certain offices
and storage space from the Tenant consisting of approximately 1,000 square
feet
plus use of common area (Schedule “B”).
NOW
THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the
parties hereto agree as follows:
|
1.
|
Term
|
The
term
of this Agreement shall commence on the first day of May 2007 and shall be
on a
month to month basis. This Agreement may be extended upon agreement by both
parties.
|
2.
|
Rent
|
The
Subtenant shall pay to the Tenant $1,250.00 on the first day of each month
during the term of this Agreement. If this Agreement is extended the rent shall
be modified in accordance with Schedule “C”.
|
3.
|
Mutual
Covenants
|
The
Tenant agrees to comply with the terms and conditions of the Lease Renewal
and
Modification Agreement and to pay the rent to the Landlord in the amounts and
at
the times as stipulated therein and to refrain from such acts as would cause
the
Landlord to terminate the Lease.
The
Subtenant agrees to conduct its’ business and affairs in such manner so as to
comply with the terms and conditions of Lease Agreement dated February 1, 2002
between the Tenant and the Landlord as amended or renewed.
|
4.
|
Waiver
|
No
waiver
of any of the provisions of this Agreement shall be deemed or shall constitute
a
waiver of any other provision and no waiver shall constitute a continuing
waiver. No waiver shall be binding unless executed in writing by the party
making the waiver.
|
5.
|
Complete
Agreement
|
No
supplement, modification or amendment of the Agreement shall be binding unless
executed in writing by all parties. This Agreement constitutes the entire
agreement between the parties and supersedes any prior agreements or
negotiations.
|
6.
|
General
Provisions
|
|
a.
|
This
Agreement shall in all respects be interpreted, enforced and governed
under
the laws of State of Washington. The language and all parts of this
Agreement
shall be in all cases construed as a whole and not strictly for or
against
any individual party.
|
|
b.
|
Any
dispute arising under in any way related to this agreement shall
be
submitted
to binding arbitration by the American Arbitration Association in
accordance
with the Association’s commercial rules then in effect. The arbitration
may be conducted in person, by telephone or online as agreed by all
parties. The arbitration shall be binding on the parties and the
arbitration award may be confirmed by ant court of competent
jurisdiction.
|
IN
WITNESS WHEREOF, the parties hereto have entered into this Agreement effective
the 1st day of
May 2007.
| Daybreak Oil and Gas, Inc. | Xxxxxxxx X. Xxxxx & Associates | |||
|
/s/
Xxxxxx X.
Xxxxxxxxx
|
/s/
Xxxxxxxx X.
Xxxxx
|
|||
|
Xxxxxx
X.
Xxxxxxxxx, Treasurer
|
Xxxxxxxx
X.
Xxxxx
|
|||
|
|
Title
|
|||
| Date: 5/01/07 | Date: 5/01/07 |
