Liquidmetal Technologies Inc. Contracts
Sample Business Contracts
South Korea-Kyunggi-do-Incheon-Si-JuMul Industrial Complex-KyungSeo-Dong Agreement for Rent - Dong Myung Seo and Liquidmetal Korea Ltd.
Lease Forms
- Start a state-specific lease for the rental of commercial property. Specify the term and rent due, as well as whether the landlord or tenant is responsible for property taxes, insurance, and maintenance and repairs.
- When a tenant vacates commercial property before the lease term has expired, it may be able to rent the premises to a third party. The tenant would be the sublessor and the third party would be the sublessee. Besides preparing a sublease, both parties will want to review the provisions for assignment or subletting in the original lease agreement between the landlord and the sublessor.
- Tenants of residential property should prepare a sublease agreement if they are seeking to sublease a room or the entire apartment or house to a third party. All parties should review the original lease agreement to see if there are any restrictions on subletting or assigning the premises.
- Triple net leases are a type of commercial leases where the tenant has to pay for property taxes, insurance, utilities, and maintenance, in addition to the monthly rent.
- When renting an office space, tenants should understand the amount of the rent and duration of the lease. Other important terms include whether the space can be subleased, which parties are responsible for maintenance, and whether any furniture and furnishings will be provided.
AGREEMENT FOR RENT Tenee : Dong Myung Seo Tenant : Liquidmetal Korea Ltd. President Sung Taek Hong This Lease Agreement for Rent ("Agreement") is made and entered into by and between Mr. Dong Myung Seo ("Lessor") and Liquidmetal Korea, Ltd. a company duly organized and existing under the laws of Republic of Korea ("Lessee"). NOW, THEREFORE the parties hereby agree as follows; ARTICLE 1 (PURPOSE) The purpose of this Agreement is for Lessee to rent the Factory and Land from Lessor for its operation. Location : 1Block 2Lot, JuMul Industrial Complex,KyungSeo-Dong, Incheon-Si, Kyunggi-Do, Korea Space : 2,083.87 Square meter (22,430.78 Square foot, 631.47Pyung) Lease for only 630Pyung after negotiation ARTICLE 2 ( KEY MONEY DEPOSIT ) Lessee shall make payment Key money deposit of 120,000,000won upon the agreement. ARTICLE 3 (RENT) Lessee shall make payment at the end of every month for 12,000,000won. ARTICLE 4 (PERIOD OF RENT) Lease term shall be commenced March 1st 2003 to the End of Feb 2005 and also if there is any no conflict between both parties regarding lease term, then lease shall extend 1 year automatically. If Lessee does not want to extend to rent for Land and Building, Lessee must <PAGE> inform to Lesser before 6 month from the lease final termination date. ARTICLE 5 (TERMINATION) In the case where any of the parties hereto breaches this Agreement, the non-defaulting party shall notify the defaulting party to remedy the breach within a reasonable period. If the defaulting party does not remedy within the period, the non-defaulting party may terminate this Agreement. . ARTICLE 6 (APPLICATION OF LAW AND JURISDICTION) 6.1 Any matters not specifically stipulated herein shall be determined in accordance with the general commercial practices and relevant laws and regulations. 6.2 The court having jurisdiction over the place where the principal office of Lessee is located shall be the competent court for matters related to this Agreement. February 2003 Tenee : Dong Myung Seo(******-*******) Address : 1337-160, GreenTown, Jung2-Dong, WonMi-Gu,BuCheon-Si, Gyunggi-Do, Korea Tenant : Liquidmetal Korea Ltd. President Sung Taek Hong -------------- TRANSLATION CERTIFICATE The undersigned hereby certifies that the foregoing is a fair and accurate English translation of the original Agreement for Rent, which is in the Korean language. By: /s/ YM Lee --------------------------------------- YM Lee, Chief Financial Officer of Liquidmetal Korea Co., Ltd.