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Commercial Net Lease for Part of Building

Lease Agreement

Commercial Net Lease for Part of Building | Document Parties: NEW SOURCE ENERGY GROUP, INC. | Ametrine Capital Inc You are currently viewing:
This Lease Agreement involves

NEW SOURCE ENERGY GROUP, INC. | Ametrine Capital Inc

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Title: Commercial Net Lease for Part of Building
Governing Law: Oklahoma     Date: 3/23/2011

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Exhibit 10.2


 

Commercial Net Lease for Part of Building

 

914 N. Broadway Suite 230 "Cadillac Building"

 

 

1.   Names. This Lease is made by Deylau, Landlord, and Ametrine Capital. Inc, Tenant.

 

2.   Premises Being Leased. Landlord is leasing to Tenant and Tenant is leasing from Landlord a portion of the following premises: 914 N. Broadway, Oklahoma City, OK 73102. Specifically, Tenant is leasing approximately 4,735 Sq. Ft. in Suite 220. Premises shall be identified in Exhibit I.

 

Shared Facilities. As part of this Lease, Tenant and Tenant's employees and customers may use the following additional facilities in common with other tenants, employees, and customers:  Areas in common with other Tenants: 1sl and 2 nd Floor Bathrooms, Entry lobby, Fire Stairs, Elevator, Back Lobby, and Hallway Corridors.

 

3.   Term of Lease. This Lease begins on the January 1, 2011 and ends March 31, 2013.

 

4.   Rent. Tenant will pay rent before the 10 Ih day of each month. Tenant's first Rent payment will be on or before January 10 1h , 2011 in the amount of $6,500.00. Tenant will pay Rent of $6,500.00 per month thereafter.

 

5.   Option to Extend Lease. Landlord grants Tenant the option to extend this Lease for an additional Three (3) years. To exercise this option, Tenant must give Landlord written notice on or before January 1 st 2013. Tenant may exercise this option only if Tenant is in substantial compliance with the terms of this Lease. Tenant will Lease the premises on the same terms as in this Lease.

 

6.   Security Deposit. Tenant will deposit $6,500.00 with Landlord as security for Tenant's performance of the Lease at Lease Commencement. Landlord will refund the full Security Deposit to Tenant within Fourteen (14) days following the end of the Lease if Tenant returns the premises to Landlord in good condition (except for reasonable wear and tear) and Tenant has paid Landlord all sums due under this Lease. Otherwise, landlord may deduct any amounts required to place the premises in good condition and to pay for any money owed to Landlord under the Lease from Security Deposit.

 

7.   Improvements by Landlord. Landlord (at Landlord's expense) will deliver the Premises in "Shell" or "White Box" condition which includes walls, painting ofthe ceiling if desired, HVAC, soundproofing of windows, and basic light fixtures, receptacles, and switches.

 

8.   Improvements by Tenant. Tenant may make alterations and improvements to the Premises after obtaining the Landlord's written consent. Tenant must pay for any Improvements to the Premises. At any time before this Lease ends, Tenant may remove

 

 

 

 


 

 

Improvements to the Premises. At any time before this Lease ends, Tenant may remove any of Tenant's alterations and Improvements, as long as Tenant repairs any damage caused by attaching the items to or removing them from the Premises.

 

9.   Tenant's Use of Premises. Tenant will use the Premises for general business purposes consistent with those of an Oil and Gas Firm. Tenant may also use the premises for purposes reasonably related to the main use.

 

10.   Landlord's Representations. Landlord represents that:

 

A. At the beginning of the Lease Term, the Premises will be properly zoned for Tenant's stated use and will be in compliance with all applicable laws and regulations.

 

B. The Premises have not been used for the storage or disposal of any toxic or hazardous substance and Landlord has received no notice from any governmental authority concerning removal of any toxic or hazardous substance from the property.

 

11.    Utilities and Services.

 

A. Separately Metered Utilities. Tenant will pay for the following utilities and services that are to be separately metered. The cost to separately meter the Premises shall be absorbed by the Landlord, and shall not be included in the provided Tenant Improvement Allowance:

 

Electricity Bill (OG&E)

 

B. Other Utilities. Tenant will pay 13.15% of the following utilities and services to the entire building that are not separately metered to Tenant:

 

Water Bill (City of OKC)

 

Gas (ONG)

 

Tenant will pay for these utilities in monthly installments on or before the loth day of each month, paid to 914 N. Broadway Owners Association. Every month the Landlord will attach a copy of the bill with the invoices for their portion of the bill.

 

12. Maintenance and Repair of Common Areas. Landlord will maintain and make all necessary repairs to the common areas of the building and adjacent premises and keep these areas safe and free of trash. This includes:

 

On-site parking areas

 

 

 


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