Lease Agreement
This
Lease is made by and between LESSOR: Wang, Rei-Bi (hereinafter referred to
as
"Party A") and LESSEE : Kid Castle Internet Technology Corporation (hereinafter
referred to as "Party B"). Both parties agree to abide by the terms and
conditions set forth as follows:
1. |
Premises
under the Lease: 8th X-0, Xx. 000, Xxxx-Xxxxx 0 Xxxx,
XxxxxxxxxXxxx.
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2. |
The
term of the Lease shall be two years, commencing from June 1st,
2007to
Nov. 30, 2007.
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3. |
Rent:
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A. |
The
monthly rent shall be NT$48,000 (including value added tax) and
shall be
paid on the first day of each
month.
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B. |
Party
B shall pay a rental deposit of NT$165,000 to Party A. The said
rental
deposit shall be returned to Party B without interest upon expiration
of
this Lease, when Party B vacates and surrenders the Premises to
Party
A.
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4. |
Use
of the Premises:
|
A. |
Party
B shall use the Premises only for the business
operation.
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B. |
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,
to any
third party, or in any other way provided for use by any third
party.
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C. |
Upon
expiration of this Lease, Party B shall not request moving costs
and/or
other expenses from Party A, and is obligated to vacate and surrender
the
Premises to Party A.
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D. |
Party
B shall not use the Premises for any illegal use, nor for storing
hazardous articles that will cause public
danger.
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E. |
If
Party B desires to make improvement and/or change of facilities
in the
Premises, construction work can only begin upon consent given by
Party A
and shall not damage the main structure and the facilities of the
Building. Upon expiration of the terms of this Lease, Party B shall
be
responsible for the restoration of the
Premises.
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5. |
Rights
and Obligations: Party B shall use the Premises with the degree
of care of
a responsible administrator. Unless the Premises are damaged or
destroyed
due to act of God or any other force majeure, Party B shall be
responsible
for the damages attributed to Party B's negligence. If the damage
or
destruction is caused in the course of nature or due to normal
wear and
tear, Party A shall be responsible for the
reparation.
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6. |
Default
and Penalty:
|
A. |
Party
A may terminate the Lease in the event that Party B violates any
provisions of this Lease or delays in paying rent payable over
two terms
of payment and fails to pay the rent within a time limit upon a
warning
given by Party A.
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B. |
Upon
the expiration or termination of the Lease term, in the event Party
B
delays in surrendering the Premises, Party B shall be liable for
a default
penalty equivalent to one month of the rental commencing from the
following date of expiration or
termination.
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7. |
Special
Agreements:
|
A. |
All
taxes relating to the Premises shall be borne by Party A; whereas
the
expenses involved in the water supply, electricity and taxes relating
to
business operations shall be borne by Party
B.
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B. |
Any
article or furniture left inside the Premises after Party B has
vacated
and returned the Premises, shall be deemed to be abandoned at the
disposal
of Party A as waste.
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C.
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If
the parties hereto provide a guarantor(s) with this Lease, the
parties and
their guarantor(s) respectively shall be jointly liable to the
responsibility for the performance of the
Lease.
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D. |
The
termination of this Lease during the Lease term by either party
shall be
subject to consent by the other
party.
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8. |
Forcible
execution to be taken: (blank)
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The
Parties:
Lessor
(Party A):
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/s/
Wang, Rei-Bi
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Address:
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14th
Floor, Xx. 0, Xxxx 000, Xxxxxxx
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Xxxx,
Xxxx Shan City, Kaohsiung County
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ID
No.:
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T202439142
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Lessee
(Party B)
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/s/
Kid Castle Internet Technology Corporation
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Address:
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0xx
Xxxxx, Xx. 00, Xxxx-Xxxxx Xxxx,
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Xxxxxxxx
Xxxx, Xxxxxx Xxxxxx
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Business
Uniform No.:
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70676630
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Party
B's Guarantor (Party C):
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(Intentionally
Blank)
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ID
No.:
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(Intentionally
Blank)
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Address:
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(Intentionally
Blank)
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