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LEASE AGREEMENNT

Lease Agreement

LEASE AGREEMENNT | Document Parties: FREESTAR TECHNOLOGY CORP You are currently viewing:
This Lease Agreement involves

FREESTAR TECHNOLOGY CORP

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Title: LEASE AGREEMENNT
Date: 9/28/2007
Industry: Software and Programming     Sector: Technology

LEASE AGREEMENNT, Parties: freestar technology corp
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Exhibit 10.7

LEASE
Lindström Building



1. LESSOR                                    Lindström Invest Oy
                                                        Lautatarhankatu 6
                                                        00580 Helsinki
                                                        Finland

2. LESSEE                                      Rahaxi Processing Oy
                                                        Fredrikinkatu 34 a 18
                                                        00100 Helsinki

                                                       Contact: h.moilanen@rahaxi.com , 040 433 9450
 
3. OBJECT OF LEASE               Objects of lease, located in the Lindström Building, are as follows:

A, office premises located on the 3 rd floor, total floor area 482m2
B, storage premises located in the basement, total floor area 31,5m2
C, parking spaces as detailed in section 13.

The location and layout of the office premises are presented in the floor plan (Appendix 1, Floor plan).

The Lindström Building, which is entirely owned by the Lessor, is located at the address Lautatarhankatu 6, 00580 Helsinki.
 
4. PUORPOSE OF USE OF THE OBJECT OF LEASE

Lessee rents the premises on the 3 rd floor for use as offices and the premises in the basement for use as storage premises.

5. TERM OF LEASE                    The term of lease is a fixed period of time. It begins on 1 March 2007 and expires on 29 February 2012.

Upon expiry of the term of lease, the Lease will continue as a Lease in force for the time being, unless either party has notified the other in writing of termination of the Lease no less than three (3) months before the end of the above-mentioned expiry date. The notice of termination is for both parties three (3) months in case the Lease continues in force until further notice.

Lessee has possession of the premises immediately after the signing of the Lease and can start to furnish and move his operations into the premises.

6. CONDITION OF THE OBJECT
 
Lessee has inspected the premises and accepts them as they are at thetime of signing the Lease.

A separate agreement will be made regarding additions and modifica-tions that will be carried out in the premises after the signing of theLease. Lessee shall pay for the additional work and modifications di-rectly to the contractor or to the Lessor, unless the parties agree to capi-talize the costs in the rent.


 
7.1. RENT

The rent is 7.000 € per month for the office premises and 300 € per month for the storage premises.

During the time of possession (from the signing of the Lease to the be-ginning of the term of lease) Lessee will carry the costs of electricity inthe premises, but will not pay any other compensation.

7.2. OTHER COSTS CARRIED BY LESSEE

Lessee will carry the costs of cleaning the premises under his Lease aswell as the costs of electricity, replacement of bulbs and lamps, basiccosts and operating costs of any ADP and telecommunications services he acquires etc. and the costs of transporting waste and other such items to the waste containers of the property.

Lessee is responsible for the maintenance, scheduled inspections,operating costs and for possible renovations of the cooling equipmentand the Argon extinguishing equipment in the storage premises.

8. PAYMENT OF RENT

The period of payment of the rent is one month. The due date of the rentis the 2 nd day of each month. The rent is paid to the bank account of Les-sor as indicated in an invoice sent by Lessor each month. The penalty interest is in accordance with the Interest Act.( please specify estimate or exact rate of applicable penalty interest rate and when does this become due i.e after what period of time)

9. VALUE ADDED TAX

Value-added tax in accordance with the value-added tax base in force atthe time is added to the rent. The value added tax at the moment of sign-ing the Lease is 22%.

Lessee is responsible for his liability to pay value-added tax for his busi-ness operations and he shall also make sure that any sub-lessees of hisare liable to pay value-added tax for their business operations. ShouldLessor lose value-added tax refunds for a reason due to Lessee, Lessee shall be liable to compensate Lessor for the loss thus suffered by Lessor.

10. SECURITY FOR RENT

As security for any neglect of tenancy liabilities, Lessee in connection with the signing of the Lease shall give Lessor a guarantee worth one  (1) months’ rent including taxes. The guara

 
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