REAL ESTATE LEASE
I. This Lease Agreement (this "Lease") is made effective as of July 1, 1997, by
and between JT Investments, LTD., ("Landlord"), and HeadlightZ of Orlando, Inc.,
("Tenant"). The parties agree as follows:
PREMISES. Landlord, in consideration of the lease payments provided in this
Lease, leases to Tenant HeadlightZ of Orlando, (the "Premises") located at See
Addendom "A", 00000 X. Xxxxxxxx Xxxxx, Xxxxxxx, Xxxxxxx 00000.
TERM. The lease term will begin on July 01, 1997 and will terminate on July 01,
2002.
LEASE PAYMENTS. Tenant shall pay Landlord, monthly payments of $8,000.00 per
month, payable in advance on the first day of each month, for a total annual
lease payment of $96,000.00. Lease payments shall be made to the Landlord at
0000 Xxxxx 000 Xxxx, Xxxxx, Xxxx 00000, as may be changed from time to time by
Landlord.
POSSESSION. Tenant shall be entitled to possession on the first day of the term
of this Lease, and shall yield possession to Landlord on the last day of the
term of this Lease, unless otherwise agreed by both parties in writing.
PROPERTY INSURANCE. Landlord and Tenant shall each be responsible to maintain
appropriate insurance for their respective interests in the Premises and
property located on the Premises.
DEFAULTS. Tenant shall be in default of this Lease, if Tenant fails to fulfill
any lease obligation or term by which Tenant is bound. Subject to any governing
provisions of law to the contrary, if Tenant fails to cure any financial
obligation within 5 days (or any other obligation within 15 days) after written
notice of such defaults is provided by Landlord to Tenant, Landlord may take
possession of the Premises without further notice (to the extent permitted by
law), and without prejudicing Landlord's rights to damages. In the alternative,
Landlord may elect to cure any default and the cost of such action shall be
added to Tenant's financial obligations under this Lease. Tenant shall pay all
costs, damages, and expenses (including reasonable attorney fees and expenses)
suffered by Landlord by reason of Tenant's defaults. All sums of money or
charges required to be paid by Tenant under this Lease shall be additional rent,
whether or not such sums or charges are designated as "additional rent".
NOTICE. Notices under this Lease shall not be deemed valid unless given or
served in writing and forwarded by mail, postage prepaid, addressed as follows:
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LANDLORD:
Name: JT Investments, LTD.
Address: 0000 Xxxxx 000 Xxxx
Xxxxx, XX 00000
TENANT:
Name: HeadlightZ of Orlando, Inc.
Address: 00000 X. Xxxxxxxx Xxxxx
Xxxxxxx, XX 00000
Such addresses may be changed from time to time by either party by providing
notice as set forth above.
ENTIRE AGREEMENT / AMENDMENT. This Lease Agreement contains the entire agreement
of the parties and there are no other promises or conditions in any other
agreement whether oral or written. This Lease may be modified or amended in
writing, if the writing is signed by the party obligated under the amendment.
SEVERABILITY. If any portion of this Lease shall be held to be invalid or
unenforceable fgor any reason, the remaining provisions shall continue to be
valid and enforceable. If a court finds that any provision of this Lease is
invalid or unenforceable, but that by limiting such provision, it would become
valid and enforceable, then such provision shall be deemed to be written,
construed and enforced as so limited.
WAIVER. The failure of either party to enforce any provisions of this Lease
shall not be construed as a waiver or limitation of that party's right to
subsequently enforce and compel strict compliance with every provision of this
Lease.
CUMULATIVE RIGHTS. The rights of the parties under this Lease are cumulative,
and shall not be construed as exclusive unless otherise required by law.
GOVERNING LAW. The Lease shall be construed in accordance with the laws of the
State of Florida.
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II. THIS IS A TRIPLE NET LEASE. Tenant to pay all repairs, taxes, insurance and
utilities.
LANDLORD:
JT Investments, Ltd.
/s/ illegible
--------------------------------
Xxxxxxx X. Xxxxxx
TENANT:
HeadlightZ of Orlando, Inc.
/s/ illegible
--------------------------------
Xxxxxx X. Xxxxxx
Notary Public Xxxxxx X. Xxxxx
State of Florida Commission #CC4522632
Expires April 13, 1998
/s/ illegible
------------------
Xxxxxx X. Xxxxx
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EXHIBIT "A"
Recorded - Xxxxxx X. Xxxxxx
LEGAL DESCRIPTION
Parcel 1
East 52.14 feet of West 312.84 feet of NW 1/4 of NW 1/4 of NW 1/4 of Section 22,
Township 22 South, Range 31 East, lying North of Xxxxx Xxxx Xx. 00, and East
52.14 feet of West 260.70 feet of NW 1/4 of NW 1/4 of NW 1/4 of Section 22,
Township 22 South, Range 00 Xxxx, xxxxx Xxxxx xx Xxxxx Xxxx Xx. 00.
The East 52.14 feet of the West 417.12 feet of the NW 1/4 of the NW 1/4 of NW
1/4 of Section 22, Township 22 South, Range 31 East, lying North of State Road
No. 50, also the East 52.14 feet of the West 364.98 feet of the NW 1/4 of the NW
1/4 of NW 1/4 of Section 22, Township 22 South, Range 00 Xxxx xxxxx Xxxxx xx
Xxxxx Xxxx Xx. 00.
Section 22, Township 22 South, Range 31 East. East 104.29 feet of the West
208.56 feet of the NW 1/4 of the NW 1/4 of NW 1/4, lying North of Xxxxx Xxxx Xx.
00.
All lying and being in Orange County, Florida.
Parcel 2
The West 300.00 feet (as measured along the South line) of the following
described portion of Xxx 0, Xxxxx "X", Xxxxxxxxxxx, as recorded in Plat Book
"O", Page 82, Public Records of Orange County, Florida: Begin at the Southeast
corner of said Xxx 0, xxx Xxxxx 00 xxxxxxx Xxxx xxxxx Xxxxxxxx Boulevard, 150.30
feet; thence South 89 degrees West 455.52 feet; thence North 27 degrees West
111.6 feet more or less to Emerald Lake; thence Westerly along the lake 77.32
feet more or less to the West line of said Lot 1; thence South 2 degrees East
along the West line of said Lot 1, 230.00 feet more or less to the Southwest
corner of Lot 1; thence East 607.2 feet to the Point of Beginning.
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