AMERICAN INDUSTRIAL REAL ESTATE ASSOCIATION
STANDARD INDUSTRIAL/COMMERCIAL SINGLE-TENANT LEASE GROSS
(DO NOT USE THIS FORM FOR MULTI-TENANT BUILDINGS)
1. Basic Provisions (Basic Provisions).
1.1 Parties: This Lease (Lease), dated for reference purposes only May 15, 2003, is made by and between Commerce Street Partnership, a California General Partnership (Lessor) and Tomark Sports, a California Corporation (Lessee), (collectively the Parties, or individually a Party).
1.2 Premises: That certain real property, including all improvements therein or to be provided by Lessor under the terms of this Lease, commonly known as 1696 Commerce Street, Corona, located in the County of Riverside, State of California, and generally described as (describe briefly the nature of the property and, if applicable, the Project, if the property is located within a Project) That certain industrial building containing approximately 12,460 square feet (Premises). (See also Paragraph 2)
1.3 Term: 1 year and 0 months (Original Term) commencing June 15, 2003 (Commencement Date) and ending June 14, 2004 (Expiration Date). (See also Paragraph 3)
1.4 Early Possession: N/A (Early Possession Date). (See also Paragraphs 3.2 and 3.3)
1.5 Base Rent: $ 7,100.00 per month (Base Rent), payable on the 14th day of each month commencing June 14, 2003 (See also Paragraph 4)
o If this box is checked, there are provisions in this Lease for the Base Rent to be adjusted.
1.6 Base Rent and Other Monies Paid Upon Execution:
(a) Base Rent: $7,100.00 for the period 1 year.
(b) Security Deposit: $6,479.00 (Security Deposit). (See also Paragraph 5)
(c) Association Fees: $0 for the period
(d) Other: $0
(e) Total Due Upon Execution of this Lease: $0
1.7 Agreed Use: Sales, warehouse, manufacturing, distribution and related activities for sports equipment. (See also Paragraph 6)
1.8 Insuring Party: Lessor is the Insuring Party. The annual Base Premium is $ (See also Paragraph 8)
1.9 Real Estate Brokers: (See also Paragraph 15)
(a) Representation: The following real estate brokers (the Brokers) and brokerage relationships exist in this transaction (check applicable boxes):
o No Brokers Involved represents Lessor exclusively (Lessors Broker);
o No Brokers Involved represents Lessee exclusively (Lessees Broker); or
o No Brokers Involved represents both Lessor and Lessee (Dual Agency).
(b) Payment to Brokers: Upon execution and delivery of this Lease by both Parties, Lessor shall pay to the Broker the fee agreed to in their separate written agreement (or if there is no such agreement, the sum of 0 or 0% of the total Base Rent) for the brokerage services rendered by the Brokers.
1.10 Guarantor. The obligations of the Lessee under this Lease are to be guaranteed by Mark Harpen and Thomas White (Guarantor). (See also Paragraph 37)
1.11 Attachments. Attached hereto are the following, all of which constitute a part of this Lease:
o an Addendum consisting of Paragraphs through ;
o a plot plan depicting the Premises;
o a current set of the Rules and Regulations;
o a Work Letter;
o other (specify): See Attached Option Agreement.
2. Premises.
2.1 Letting. Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor, the Premises, for the term, at the rental, and upon all of the terms, covenants and conditions set forth in this Lease. Unless otherwise provided herein, any statement of size set