AGREEMENT FOR RENT
THIS AGREEMENT, is effective November 1, 1997 and is between Arizona
Corporate Management, Inc. ("Landlord") and Fan Energy Inc. (formerly Eastern
Star Holdings, Inc.)("Tenant").
1. Rent of Office Space. Landlord agrees to rent to Tenant office space on
a shared, nonexclusive basis at Landlord's premises at 00000 Xxxxx Xxxxxxxxxx
Xxxx, Xx. 000, Xxxxxxxxxx, Xxxxxxx 00000. Tenant shall be entitled to reasonable
use of Landlord's office facilities, including file storage, office space and
secretarial services as required. In addition, Tenant shall be entitled to use
Landlord's office equipment, including fax machine, copy machine, proprietary
telephone equipment and any other office equipment which Landlord has available
in the premises.
2. Term. This Agreement shall be on a month-to-month basis and may be
terminated by Tenant upon 30 days prior notice to Landlord. Landlord must
furnish Tenant with at least three months prior notice if Landlord intends to
terminate this Agreement and Tenant shall be entitled to continue to use the
premises following receipt of notice until termination.
3. Obligation to Pay Rent. Tenant shall pay to Landlord, as rent, a total
of $2,000 monthly, payable at the beginning of each month. Tenant shall
reimburse Landlord for any long distance telephone expenses, or similar
out-of-pocket expenses incurred by Landlord on behalf of the Tenant. Such
reimbursement shall be paid monthly, as charged to Tenant by Landlord.
4. Access to Premises. While this Agreement is in effect, Tenant shall have
reasonable access to the premises and may make reasonable use thereof, subject
to the right of Landlord and any other tenant similar to the Tenant to use the
premises. Tenant shall be subject to reasonable rules and practices established
Landlord from time to time regarding use of the premises.
LANDLORD:
ARIZONA CORPORATE MANAGEMENT, INC.
By /s/ Xxxxxxx X. Xxxxxxx
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Authorized Officer
TENANT:
FAN ENERGY INC.
By /s/ Xxxxxx X. Xxxxxxx
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Authorized Officer
