Exhibit 10.3
Short Term Rental Agreement
Vidcon Solutions Group, Inc. 00 Xxxxxxxxxx Xxxxx, Xxxxx 000X, Xxxxxx, XX 00000
hereby rents to the undersigned Renter (s) the premises know as number 00
Xxxxxxxxxx Xxxxx, Xxxxx 000X, Xxxxxx, XX 00000, upon the following terms and
conditions:
1. Term and Rent: Commences upon payment and clearing of all checks required
for first, last month's rent and security deposit and delivery of the premises
on or after February 5, 2003. The total rent due is $2,289 per month, plus any
costs or payments required to be paid by Renter under this rental agreement,
payable on the first day of each and every month of said term. Costs or other
payments required under this agreement are considered to be part of your rent.
Payment made to Vidcon when costs or other payments required by this lease are
outstanding shall be accredited to those outstanding costs with any remainder
then accredited to the monthly installment amount specified above. In the
event, renter does not receive any amount payable by renter within ten days of
the due date, and then Vidcon may assess a late fee in the amount of 5%. Vidcon
may assess an administrative fee $25 for any check returned to Vidcon for
insufficient funds.
2. Renter Obligations: The Agreement (s) jointly and severally agree (s):
A. To pay the rent on time, on or before the 1st day of the month, and to use
the premises as a business in compliance with all applicable laws and codes:
B. To maintain the premises in a clean, neat and undamaged condition at all
times, and to pay for damage caused to the premises within five (5) days of
receipt of the itemized statement of such damage and the cost to repair it.
C. To be liable for any loss or damage to the property, rent shall carry
adequate insurance to cover all losses or damage to renters property;
Renter Obligation Vidcon obligation:
Heat X
Electricity X
Gas X
Water and Sewer: X
Telephone X
Security/Internet Access 50%/50%
And to pay all costs associated with said renter obligations, to place garbage
and refuse in containers and to prevent any unsanitary conditions from arising
on the premises, and to abide by all local and state health, sanitary, recycling
and refuse disposal regulations.
D. To give prompt notice to Vidcon of any maintenance or repairs in writing or
by telephone.
E. To make no alteration, painting application, addition, repair or improvement
in or to the premises without prior written permission of Vidcon and also to
refrain from excessive use of nails and to refrain from any use of tape or
suspend or hang any decorative or practical items.
F. To use all appliances and fixtures provided by Vidcon in the proper manner
and not to add or relocate any appliances, furniture or equipment without the
prior written permission of the landlord
G. To prohibit pets from the premises.
H. Renter will answer the phone as Vidcon when calls come in on Vidcon lines
and forward if necessary.
3. VIDCON - Will maintain the following on the premises
A. Maintain one secured office space that may be used at anytime during the
month.
B. One secured area of the warehouse for inventory and other materials that may
not be touched by renter.
C. May use the conference room when needed with the advanced notice.
D. Vidcon will provide all furniture that is currently on the premises for
usage by the renter. The renter must maintain the property, less normal wear
and tear, in good working condition.
E. Vidcon will pay for current phone system lease.
F. Signature for both companies may be maintained at the front of the building.
4. CONFIDENTIALITY - All documents and communications within the premises are
deemed confidential by both parties.
5. RENEWAL - The initial term of this agreement is 90 days and month to month
thereafter. Renter(s) or Vidcon shall indicate in writing, 60 days advanced
notice of the desire to cancel this agreement.
The undersigned acknowledge receipt of (1) an executed copy of this rental
agreement, (2) a security deposit for $2,289/First and Last Months' Rent of
$4,578 for a total of $6,867.
Network Installations
/s/ Xxxxxxx Xxxxxxxx
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Xxxxxxxx Xxxxxxxx
/s/ Vidcon
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Vidcon
