Exhibit 10.2.5
ASSIGNMENT OF XXXXXX'S INTEREST IN LEASE
FOR VALUABLE CONSIDERATION, the receipt of which is hereby acknowledged,
NEWRIDERS, INC., a Nevada corporation ("Assignor") hereby assigns, transfers
and conveys to XXXX XXXXXXX ("Assignee"), all of its right, title and interest
as a Lessee under that certain Lease Agreement with XXXXXX XXXXXX CABINETS,
INC., and XXXXXX X. XXXXXX, d.b.a. XXXXXX RENTAL dated June 6,1997 (the
"Lease"), with respect to real property and improvements located at 0000
Xxxxxxx 501 near the City of Myrtle Xxxxx, Xxxxx Xxxxxx, Xxxxx Xxxxxxxx.
Assignee hereby accepts such assignment, agrees to assume and perform all
of Assignor's duties and obligations under the Lease including without
limitation, the obligation to pay rent as required under the Lease, from and
after the Effective Date as provided below. Assignee further agrees to
indemnify, defend and hold Assignor harmless from and against any and all
loss, cost, damage, liability, claim or expense arising from or attributable
to the Lease from and after the Effective Date.
The Effective Date of this Assignment shall be March 1, 1998.
In Witness Whereof, the parties have executed this Assignment on the
dates opposite their respective signatures, to be effective for all purposes
as of the Effective Date.
ASSIGNOR
NEWRIDERS, INC., a
Nevada Corporation
By: /s/ XX Xxxxxxxxx
------------------- Dated: 2/9/1998
ASSIGNEE
/s/ Xxxx Xxxxxxx
-----------------
XXXX XXXXXXX Dated: 2/9/98
