LEASE AGREEMENT
THIS LEASE AGREEMENT (the "Agreement") is made this 31st day of
January, 1998 by R&G International, an Alabama corporation, having an address at
0000 Xxxxx Xxxxxxxx Xxxxxxx, Xxxxxxxxxx, XX 00000 (the "landlord"), and IBS
Interactive, a Delaware corporation having an address at 0000 Xxxxx Xxxxxxxx
Xxxxxxx, Xxxxxxxxxx, XX 00000 (the "tenant").
WITNESSETH:
WHEREAS, the Landlord leases to the Tenant, and the Tenant accepts from
the landlord, certain premises consisting of approximately 1800 square feet of
space (the "Premises") located on the first floor of the building commonly known
as 0000 Xxxxx Xxxxxxxx Xxxxxxx, Xxxxxxxxxx, XX (the "Building").
Other matters as are hereinafter set forth, all in accordance with an
subject to the terms and condition hereinafter set forth;
NOW, THEREFORE, in consideration of the foregoing and other good and
valuable consideration, the receipt and sufficiency of which being hereby
acknowledged, the parties hereto hereby agree as follows:
1. Lease Term.
The Lease shall extend for a period of approximately three years
following the Agreement Date.
2. Rental.
The Tenant agrees to pay to the Landlord a basic minimum rental for the
Premises for the three (3) year term of the lease thereof in the equivalent
amount of One Thousand Five Hundred Dollars ($1,500.00) per month in computer
services, commencing on the Agreement Date.
The computer services which will be provided in exchange for rental
payment for the premises include Internet Web Site monitoring and consulting,
e-mail accounts and maintenance on the Huntsville mail server, and basic
computer hardware troubleshooting.
3. Miscellaneous.
a) This Agreement contains the entire agreement and
understanding between the parties with respect to the Premises and the Lease.
There are no oral understandings, terms or conditions, and neither party has
relied upon any representation, express or implied, not contained herein. All
prior understandings, terms or conditions with respect to the Premises and the
Lease are hereby deemed merged into this Agreement. This Agreement cannot be
changed or supplemented other than in a writing signed by both parties.
b) This Agreement shall be binding upon, and shall inure to
the benefit of the parties hereto and their respective successors and permitted
assigns.
IN WITNESS WHEREOF, the parties hereto have duly executed this
Agreement on the day and year first above written.
WITNESS/ATTEST: LANDLORD:
R & G International, Inc.
By: /s/ Xxxxx X. Xxxxxxxxx By: /s/ Xxxxx Xxxxxxx
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Xxxxx Xxxxxxx
Secretary/Treasurer
R & G International
By: By: /s/ Xxxx Xxxxxxxx
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Xxxx Xxxxxxxx
President
IBS Interactive
