EXHIBIT 10.34
LEASE AGREEMENT
STATE OF GEORGIA
COUNTY OF XXXXX.
This lease made April 14, 1998 by and between continental Electric
Contractors, hereinafter referred to as "Lessor"; and Cuplex, Inc, hereinafter
referred to as "Lessee".
WITNESSETH:
1. That Lessor, for and in consideration of the rents, covenants,
agreements, and stipulations hereinafter mentioned, reserved, and contained, to
be paid, kept and performed by Lessee, has leased and rented, and by these
presents does lease and rent unto Lessee, and Lessee hereby leases and takes
upon the terms and conditions which hereinafter appear, the following described
property, hereinafter called "premises", to wit: 000 Xxxxx Xx. XxXxxxxx, XX
00000.
TERM
2. Lessee shall have and hold premises for a term beginning on May
12, 1998, and ending on May 11, 1999.
RENTAL
3. Lessee shall pay Lessor by payments to Xxxxxx & Xxxxx Management
or any place of which Lessee shall from time to time otherwise be notified,
promptly on the first day of each month in advance, a monthly rental of $1,810.
A late charge of 5% will be assessed for each rental payment received by Lessor
after the 5th day of each month. Rent shall be prorated for any month of this
lease which is less than a full calendar month. Tenant has option to renew for 1
additional year at a rate of $1,870 per month.
USE OF PREMISES
4. Lessee will use and occupy the leased premises for its lawful
business purposes. Lessee will not store any materials that would be hazardous,
toxic, explosive in such a way that it would otherwise increase the liability of
the Landlord, or cause Landlord's insurance cost to increase.
TAXES AND ASSESSMENTS
5. Lessor shall pay, prior to delinquency, all real estate taxes,
assessments, and charges which are levied, imposed, or assessed upon or against
the leased premises. If Lessor shall fail to pay any such taxes, assessments, or
charges prior to delinquency, Lessee shall have the right to pay same and to
deduct from any rent which may then or thereafter be due all amounts expended by
Lessee in making such payment.
UTILITIES
6. Lessee shall provide and pay for all electric, water, gas and
sewage disposal. Lessee shall provide and pay for the janitorial service for the
leased premises.
INSURANCE
7. (a) Lessor shall procure and maintain all insurance which it
deems necessary for its protection against loss or damage to the leased premises
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or any other property of Lessor situated thereon.
(b) Lessee shall procure and maintain all insurance which it
deems necessary for its protection against loss of or damage to any of its
property situated on the leased premises.
(c) Nothing contained in this lease shall be construed to
require either party to repair, replace, reconstruct, or pay for any property of
the other party which may be damaged or destroyed by fire, flood, windstorm,
earthquake, strikes, riots, civil commotions, acts of public enemy, acts of God,
or other casualty, and each party hereby waives on behalf of itself and its
insurer all rights of subrogation and all claims against the other for all loss
or damage arising out of perils normally insured against by standard fire and
extended coverage insurance.
REPAIRS BY LESSOR & LESSEE
8. Lessor agrees to keep in good repair the roof, foundations, and
exterior walls of the premises and underground utility and sewer pipes outside
the exterior walls of the building except repairs rendered necessary by the
negligence of Lessee, its agents, employees or invitee. Lessor gives to Lessee
exclusive control of the premises and shall be under no obligation to inspect
said premises. Lessee shall promptly report in writing to Lessor any defective
condition known to it which Lessor is required to repair, and failure so to
report such conditions shall make Lessee responsible to Lessor for any liability
incurred by Lessor by reason of such conditions. Lessor further agrees to
maintain yards and landscaping in a clean and neat condition.
DAMAGE TO OR DESTRUCTION OF PREMISES
9. If, during the term of this lease the leased premises are damaged
beyond normal use by fire, flood, windstorm, strikes, riots, civil commotions,
acts of public enemy, acts of God, or other casualty, then this lease shall be
terminated as of the date of such damage. The Lessee shall pay the cent
apportioned to the time of damage and shall immediately surrender the leased
premises to Lessor who may enter upon and repossess the same and Lessee shall be
relieved from any further liability hereunder.
ACTION OF PUBLIC AUTHORITIES
10. In the event that any exercise of the power of eminent domain by
any governmental authority, Federal, State, County, or Municipal, or by any
other party vested by law with such power shall at any time prevent the full use
and enjoyment of the leased premises by Lessee for the purposes set forth in
Section I, this lease shall terminate.
IMPROVEMENTS BY LESSEE
11. Lessee shall not have the right, to make any alterations,
additions, or improvements in or to the leased premises, without prior written
approval of Lessor.
INDEMNITY
12. Lessee agrees to, and hereby does, indemnify and save Lessor
harmless against all claims for damages to persons or property by reason of
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Lessee's use or occupancy of premises, and all expenses incurred by Lessor
because thereof, including attorney's fees and court costs. During the term
hereof, Lessee will maintain insurance on Lessee's operation in the premises
insuring against bodily injury in the amount of $500,000.00 per occurrence and
property damage in the amount of $500,000.00 in the aggregate. Lessee shall
supply proof to Lessor of the maintenance of such insurance upon demand.
TITLE
13. The property herein leased by Xxxxxx & Xxxxx Mgt. Co., 0000 X.
Xxxxxxxxx Xx., XxXxxxxx, XX 00000 as agents and Lessor covenants and warrants
that under the term of its lease it has lawful title and right to make this
lease, that it will maintain Lessee in full and exclusive possession of the
leased premises, and that if Lessee shall pay the rent and perform all the
agreements, covenants, and conditions required by this lease to be performed by
it, Lessee may freely, peaceable, and quietly occupy and enjoy the leased
premises without molestation or hindrance, lawful or unlawful, of any person
whomsoever.
SURRENDER
14. When this lease shall terminate in accordance with the terms
hereof, Lessee shall deliver up possession of the leased premises in as good
order, repair, and condition as the same are in at the beginning of the term of
this lease except for reasonable wear and tear and loss, damage, or destruction
caused by fire, flood, windstorm, earthquake, strikes, riots, civil commotion,
acts of public enemy, acts of God, or other casualty, or caused by negligence of
Lessor, its agents, employees, or invitee.
NOTICE
15. (a) Any notice or demand required by the provisions of this
lease to be given to Lessee shall be deemed to have been given adequately if
sent by Certified Mail to Lessee at the Following address: 00000 Xxxxxxxx Xx.,
Xxxxxx, XX 00000.
(b) Any notice or demand required by the
Provisions of this lease to be given by Lessee shall be deemed to have been
given adequately if sent by Certified Mail to Lessor at: 0000 X Xxxxxxxxx Xx.,
XxXxxxxx, XX 00000.
(c) Either party shall have the right to change its address as
above designated by giving to the other party fifteen (15) days notice of its
intention to make such change and of the substituted address at which any notice
or demand may be directed to it.
ENTIRE AGREEMENT
16. The whole and entire agreement of the parties is set forth in
this Agreement and the parties are not bound by any agreements, understandings
or conditions otherwise than as expressly set forth and stipulated hereunder.
CHANGES, MODIFICATIONS, OR AMENDMENTS
17. This agreement may not be changed, modified, discharged, or
terminated orally or in any other manner than by an agreement mutually signed by
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the parties hereto or their respective successors and assigns.
COVENANTS TO BIND RESPECTIVE PARTIES
18. This lease, and all of the agreements, covenants, and conditions
contained herein shall be binding upon Lessor and Lessee and upon their
respective heirs, executors, administrators, successors, and assigns.
SECURITY DEPOSIT
19. Lessee agrees to pay to Lessor the sum of $1,750 as security
deposit prior to the occupancy of the premises unless such security payment has
already been made. The security deposit shall be held by Lessor as security of
Lessee's performance of this lease and against any damage to the premises or any
part of Lessor's property by Lessee, its agents, employees, or invitees. Lessee
understands and agrees that Lessor shall have no obligation to apply the
security deposit against such rent or against any other amount due from Lessee
to Lessor.
IN WITNESS WHEREOF, Lessor and Lessee have caused these presents to
be executed by their duly authorized officers and have caused their respective
seals to be hereto affixed, all as of the date and year first above written.
__________________________ Lessor: CONTINENTAL ELECT CONTR.
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BY: /s/ [ILLEGIBLE]
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__________________________ Lessee: CUPLEX, INC.
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BY: /s/ [ILLEGIBLE]
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__________________________
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