LEASE AGREEMENT
THIS LEASE made
this 26th day of March, 2009, Mentor, Ohio by and between OSAIR,
INC ., an Ohio Corporation, owner of The Match Works ,
(hereinafter called "Landlord") and JOHN D. OIL & GAS
COMPANY (hereinafter called "Tenant").
WITNESSETH, that Landlord hereby leases to Tenant and Tenant
hereby hires and takes from Landlord certain premises, being Suite
No. 345 , containing approximately 3,405 square feet
of space of space in The Match Works, at 8500 Station Street,
Mentor, Ohio, 44060. Said premises are hereinafter
sometimes referred to as the "Demised
Premises." Landlord excepts and reserves hallways,
stairways, shaftways, elevators and other common areas and common
facilities and the right to maintain, use, repair and replace
pipes, ducts, wires, meters and any other equipment, machinery,
apparatus and fixtures serving other parts of the said building,
including such of them as may occur above the finished ceiling of
the Demised Premises or elsewhere within the Demised
Premises.
LEASE
TERM
1. Landlord leases the Demised
Premises to Tenant and Tenant Leases and agrees to take possession
of the same from Landlord, for the term of three (3)
years, commencing on the 1st day of April 2009 and terminating on
the 30th day of March, 2012.
RENT
2. Tenant shall pay to Landlord
without demand, deduction or setoff, rent in the aggregate amount
of $2,000.00 (Two Thousand dollars and zero
cents) per month, in advance on the first day of each month,
for the first year of the Lease Term. Said rent shall
include all utility charges, except telephone. Rent
during each succeeding year of the Lease Term shall likewise be due
and payable on or before the first day of each month in
advance. Rent for any partial month shall be
prorated.
LANDLORD’S WORK
3. The Demised Premises shall be let
and leased by Landlord to Tenant in its present as is condition,
except for the improvement which are described in Exhibit
“B” which is attached hereto and incorporated herein by
reference and which are collectively referred to as
“Landlord’s Work”. Landlord estimates completion
of Landlord’s Work will occur within four week of signing of
Lease.
PAYMENT
4. The rents reserved and all
additional and other charges payable by Tenant to Landlord
hereunder, shall be paid, in full, when due, in currently available
United States funds without deduction, set-off or abatement, to
Landlord at The Match Works, 8500 Station Street, Suite 100,
Mentor, Ohio 44060. Any such amount not paid when due
shall bear interest in favor of Landlord at the rate of ten percent
(10%) per annum for the date said amount becomes due until paid in
full, not, however, to the exclusion of any claim for damages or
other remedy for breach or default on the part of Tenant
hereunder. Any such amount payable with respect to a
period of time beginning prior to the commencement or ending after
the expiration of the term hereof shall be apportioned and prorated
as of and to the date of the commencement or expiration of the
term, as appropriate, and shall be paid accordingly.
PERMITTED
USE
5. The Demised Premises may be used
only for the purpose of general office space all in accordance with
Landlord's Rules and Regulations, provided that in no event shall
the Demised Premises be used for the operation of a securities
dealer, sales, brokerage or investment banking business, without
the Landlord’s advance written consent, which Landlord may in
its absolute discretion, withhold. Tenant specifically acknowledges
that the Demised Premises shall not be used for any use other than
those indigenous to Tenant’s anticipated use, unless approved
by Landlord.
POSSESSION
6. The taking of possession of the
Demised Premises by the Tenant shall be conclusive evidence of his
acceptance thereof and approval of any and all construction, unless
otherwise agreed to in writing by Landlord and Tenant.
IMPROVEMENTS BY TENANTS
7. Tenant shall not make any
additions, improvements or modifications of the Demised Premises,
including decorations, without the written consent of Landlord,
which shall not be unreasonably withheld. The
improvements set forth in Exhibit "A , if any, shall be
constructed by Landlord at its sole expense. All other
additions, improvements or modifications (hereinafter referred to
as "Improvements by Tenant") shall be constructed at Tenant's sole
expense upon approval by landlord.
Work will be
commenced upon Improvements by Tenant, if any, within fifteen (15)
days after the
last to occur
to the following: (1) Landlord's approval of plans and
specifications, or (2) Landlord's notice to Tenant that the Demised
Premises are ready for the commencement of Tenant's
work. Improvements by Tenant, which shall include the
removal by Tenant of any debris resulting from said work, shall be
completed within thirty (30) days, except for delays due to
casualties or other causes beyond Tenant's reasonable control, and
Tenant shall open the Demised Premises for the permitted uses upon
such completion. In all events, the Lease Term shall
commence upon the earlier to occur of fourteen (14) business days
after the work should be commenced upon the Improvements by Tenant,
except for such delays caused by neglect or omission of Landlord,
its agents and employees, or upon the date specified in Section 1
hereof.
SECURITY
DEPOSIT
8. Tenant
(has)(shall) deposit(ed) with Landlord a Security Deposit in the
amount of _____n/a_________ dollars and zero cents as
security for the punctual performance by Tenant of each and every
obligation of Tenant under this Lease. In the event of
any default by Tenant, Landlord may apply or retain all or any part
of such security to cure the default or to reimburse Landlord for
any sum, which Landlord may spend by reason of the
default. In the case of every such application or
retention, Tenant shall, on demand, pay to Landlord the sum applied
or retained which shall be added to the Security Deposit so that
the same shall be restored to its original amount. If at
the end of the Lease Term Tenant shall not be in default under this
Lease, the Security Deposit, or any balance thereof, shall be
returned to Tenant, without interest. Tenant shall look
only to Landlord, its successors or assigns for return of the
Security Deposit.
LANDLORD'S COVENANTS
9. Subject to Section 9 of this
Lease, Landlord covenants that it shall perform or furnish, or
cause to be performed or furnished, the following:
(a) Such heat and air conditioning to
maintain the Demised Premises at comfortable temperatures during
the hours of the day between 8:00 a.m. and 6:00 p.m. Mondays
through Fridays inclusive, and 9:00 a.m. to 1:00 p.m. Saturdays
(building hours), all days observed by the New York Stock Exchange
as legal holidays excepted.
(b) Common rest
rooms, as required by local applicable code.
(c) Hot and
cold water in reasonable amounts to the aforesaid common washrooms
and to the Demised Premises.
(d) Adequate
janitorial services to common areas and tenant offices.
(e) Window
washing service as reasonably required.
(f) Reasonably
adequate parking spaces on the grounds appurtenant to The Match
Works for the use in common, with the other Tenants of said
building and their employees and invitees.
1.
(g) Adequate snow removal service for the aforementioned parking
spaces and for all approaches thereto.
(h) During
business hours, reasonable illumination for all parking areas and
footways appurtenant to The Match Works.
(i) A Tenant
directory in the lobby of the building. Landlord will
supply a sign at the door to the Demised Premises, which will
identify the suite number and the identity of the
Tenant. Said signs shall be of uniform appearance and
design throughout the building, as determined by
Landlord. Tenant will not place any sign, marking or
designation on the doorway to the Demised Premises, the building
corridors, or on the windows or on the exterior of the Demised
Premises unless otherwise agreed in writing by Landlord and
Tenant.
TENANT'S
COVENANTS
10. Tenant
covenants to and with Landlord as follows:
(a) Except for
damage by fire or other unavoidable casualty and reasonable use and
wear, Tenant shall keep the Demised Premises in as good order,
repair and condition as the same are at the commencement of the
Lease Term, or may be put in thereafter, and at the termination of
the Lease Term, peaceably yield up and surrender the Demised
Premises and all additions thereto and permanent installations
therein in good order, repair and condition, first removing all
goods and effects, except those of Landlord, and making any repairs
made necessary by such removal, and leaving the Demised Premises
clean and tenantable.
(b) Tenant
covenants that it shall not injure, overload, deface or commit
waste in the Demised Premises or any part of The Match Works, shall
not permit therein any auction sale; shall not permit the
occurrence of any nuisance therein or the emission therefrom of any
objectionable noise, odor or effect; shall not use or permit the
use of the Demised Premises for any purpose other than the
permitted uses as herein specified; and shall not use or permit any
use of the Demised Premises which is improper, offensive, contrary
to law or ordinance, or which is liable to invalidate or increase
the premium for any insurance on The Match Works or its contents or
which is liable to render necessary any alterations or additions to
the building.
(c)
Tenant covenants that it shall not obstruct in any manner any
portion of the building, or the approaches to said building, or any
windows or doors.
(d) Tenant
covenants that it shall conform to all reasonable rules and
regulations now or hereafter promulgated by Landlord ("Landlord's
Rules and Regulations") or applicable governmental authorities for
the care and use of the building, its facilities and
approaches.
(e) Tenant
covenants that it shall keep the Demised Premises equipped with all
safety appliances and permits required by law or ordinance or any
order or regulation of any public authority or insurer because of
the use made of the Demised Premises by Tenant, and, if requested
by Landlord, shall make all repairs, alterations, replacements or
additions so required in the Demised Premises.
(f) Tenant
covenants that it shall save Landlord harmless and indemnified from
any injury, loss, claim or damage to any person or property while
on or in said Demised Premises and to any person or property
anywhere occasioned by any omission, neglect or default of Tenant
or of employees, agents, contractors or officers of
Tenant.
(g) Tenant
covenants that, except for the negligence of Landlord, its agents
and employees, Landlord and Landlord's agents and employees shall
not be liable for, and Tenant waives all claims for, damage to
person or property sustained by Tenant or any person claiming
through Tenant resulting from any accident or occurrence in or upon
the Demised Premises or the building of which they shall be a part,
or the land appurtenant thereto, including, but not limited to,
claims for damage resulting from: (1) any equipment or
appurtenances becoming out of repair; (2) injury done or occasioned
by wind, rain or other force of nature; (3) any defect in or
failure of plumbing, heating or air conditioning equipment,
electric wiring or installation thereof, gas, water, compressed air
and steam pipes, stairs, porches, railing or walks; (4) broken
glass; (5) the backing up on any sewer pipe or downspout; (6) the
bursting, leaking or running of any tank, tub, washstand, water
closet, waste pipe, drain or any other pipe or tank in, upon or
about such building or Demised Premises; (7) the escape of steam,
compressed air, natural gas or hot water; (8) water, snow or ice
being upon or coming through the roof, skylight, trapdoor, stairs,
doorways, walks or any other place upon or near such building or
the Demised Premises or otherwise; (9) falling of any fixture,
plaster, tile or stucco; and (10) any act, omission or negligence
of co-tenants, licensees or of any other persons or occupants of
said building or of persons, occupants and/or owners
of adjoining or contiguous property. The
foregoing shall not, however, be construed to relieve Landlord of
Landlord’s obligation to promptly take the steps necessary to
effect such repairs or to terminate such interruptions in
accordance with Landlord’s obligations set forth herein as
promptly and expeditiously as possible.
(h) Tenant
covenants that it shall permit the Landlord and the Landlord's
agents to enter and examine the Demised Premises at reasonable
times and upon reasonable advance notice except in cases of
emergency and, if the Landlord shall so elect to make any repairs
or additions the Landlord may reasonable deem necessary and at the
Tenant's expense, to remove any alterations, additions, signs,
antennas or the like, not consented to by the Landlord in
writing.
(i) Tenant covenants that it shall
pay the Landlord's expenses, excluding reasonable attorney's fees
incurred in enforcing any obligations of Tenant under this Lease,
which are not complied with.
(j) Tenant
covenants that it shall not knowingly permit any employee or
visitor of the Tenant to violate any covenant or obligation of the
Tenant hereunder.
(k) Tenant
covenants that, in case the Tenant takes possession of the Demised
Premises prior to the commencement of said term, it shall perform
and observe all of the Tenant's covenants from and after the date
upon which the Tenant takes possession.
(l) Tenant
covenants that it shall not assign this Lease or sublet any portion
of the Demised Premises or enter into a space-sharing agreement
without prior written consent of Landlord, such consent not to be
unreasonably withheld, or mortgage or hypothecate this lease or
license the Demised Premises or any portion there
|