Exhibit 10.12
Lease Agreement
This Lease is made by and between LESSOR : Xxxx, Xx-Ru[ ][ ][ ][ ][ ]
(hereinafter referred to as "Party A"), LESSEE : Wonderful Internet Technology
(hereinafter referred to as "Party B") and Party B's Guarantor : Kid Castle
Internet Technology Corporation (Note: The renamed company for Kid Castle
Internet Technology Corporation is valid automatically on the date of 27th July,
2000.), Wang, Kuo-An (hereinafter referred to as "Party C") for the lease of
premises hereunder. Both parties agree to abide by the terms and conditions set
forth as follows:
1. Premises under the Lease : 0xx Xxxxx, Xx. 000, Xxxxx-Xxx Xxxx, Xxxxxxxx
Xxxx, Xxxxxx Xxxxxx, under the Lease.
2. The term of the Lease shall be SIX years, commencing from January 1st, 2000
to December 31st, 2005.
3. The monthly rental : NT$10,000(TEN THOUSAND New Taiwan Dollars) (with a
receipt originally issued for the payment of the rental by Party A) shall
be paid by Party B without delay or rejection in any circumstances (the
aforesaid rental is exclusive of electricity and water charges). The rental
will be raised to TWENTY THOUSAND New Taiwan Dollars from on the date of
July 1st, 2000.
4. The rental shall be paid before of each month. The rental shall be paid
basing on one year period, Party B shall not delay in paying any rental due
in any excuse.
5. Party B shall pay a rental deposit of NT$ (Intentionally Blank) to Party A
upon signing of this Lease. The said rental deposit shall be returned to
Party B without interest upon expiration of this Lease, when Party B does
not request for a lease renewal and vacates and surrenders the Premises to
Party A.
6. Upon expiration of this Lease when no renewal is agreed by Party A, Party B
shall restore the Premises to the original condition thereupon, vacate and
surrender the Premises to Party A without making any excuse or claiming any
right. In case the Premises shall be surrendered to Party A after delays,
Party B shall be liable for a default penalty equivalent to 500% of the
rental on a monthly basis until the date of surrender of the Premises, to
which Party B and Party C shall have no objection.
7. During the term of this Lease before its expiration, in the event that
Party B desires to move out of the Premises, Party B shall not request any
rental refund, moving costs or other royalties under other denominations
from Party A, and Party B shall unconditionally restore the Premises to the
original condition and return the Premises to Party A without objection.
8. Prior to consent by Party A during the term of this Lease, Party B shall
not, in whole or in part, have the Premises subleased, transferred,
mortgaged to any third party, or in any other way provided for use by any
third party.
9. Party B may make alternations of partitions and/or facilities in the
Premises as Party B deems necessary; 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.
10. Party B shall not use the Premises for any illegal use, nor for storing
hazardous articles that will cause public danger.
11. Party B shall use the Premises with the degree of care of a responsible
administrator. If the damage or destruction is made by any personal
factors, Party B shall be responsible for the reparation. If the Premises
provided by Party A are damaged or destroyed due to act of God or any other
force majeure, or due to normal wear and tear, Party A shall be responsible
for the reparation.
12. In the event that Party B violates any provisions of this Lease or causes
damages to Party A, Party B hereby shall be fully responsible for
compensating such damage or loss. Party B shall pay for Party A's court
costs and attorney's fees in the event that the court action is instituted.
13. In the event that Party B violates any provisions of this Lease or causes
damages to the Premises, Party C shall be jointly liable for the loss Party
A shall incur and abandon the right of counteraction voluntarily.
14. Parties A, B and C shall observe and abide by the provisions of this Lease,
in the event that any party shall violate any provisions thereof, Party A
may terminate this Lease thereupon without any prior notice, thus Party A
shall in no circumstances have any concern with the loss Party B shall
incur.
15. Stamp duties are borne by both Parties, respectively. All taxes relating to
the Premises shall be borne by Party A; whereas the expenses involved in
the water supply, electricity and other business operations of Party B
shall be borne by Party B.
16. In the event that the house tax and income tax owing to the leased Premises
leased are heightened due to the Premises rented by Party B, Party B shall
bear such difference incurred therefrom without objection.
17. Any article left inside the Premises, upon expiration of this Lease after
Party B vacates the Premises, shall be deemed to be abandoned at the
disposal of Party A as waste, to which Party B shall have no objection.
18. Special agreements that require forcible execution to be taken : (1) Party
B shall pay a compensation of a sum equal to one month of rental to Party A
without objection, in the event that Party B may move out of the Premises
to other place during the term of the Lease; (2) in the event that Party B
shall violate any provisions of this Lease and leave any furniture or
article inside the Premises, such articles shall be deemed to be abandoned
at the disposal of Party A as waste, thus Party A shall terminate the Lease
and in no circumstances have any concern with any loss Party B shall incur.
Party B shall abandon the right of counteraction voluntarily thereupon.
19. The rental tax payable shall be borne by Party A/Party B to the tax
collection office upon receiving tax statement(s).
In witness whereof both Parties have hereunto signed the Lease, which is made in
duplicate, each party bears one to refer.
The Parties :
Lessor (Party A) : Xxxx, Xx-Ru([ ][ ][ ])
ID No. : A223718115
Address : 0-0, Xxxx 00, Xxx-Xxx Xxxxxx, Xxxxxx Xxxx
Xxxxxx (Party B) : Wonderful Internet Technology / Kid Castle Internet
Technology Corporation
Responsible person : Wang, Kuo-An
ID No. : (Intentionally Blank)
Address : (Intentionally Blank)
Party C : (Intentionally Blank)
ID No. : (Intentionally Blank)
Address : (Intentionally Blank)
Date: December 31st, 1999