LEASE (English Translation)
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Real Estate
- Lease Agreements
EX-10.2 6 dex102.htm LEASE AGREEMENT Lease Agreement
Exhibit 10.2
LEASE
(English Translation)
Party A: Sea Dragon Billiard & Snooker Association Ltd.
Party B: Manigood International Industrial Limited (T/A Golden Bahania Duty Free)
Both parties agree to develop Wong Tai Sin Long Cheung Road No. 110, Ho Yuen Centre, 3rd G/F Unit #3 with the following terms:
| 1. | Party B shall pay rent to Party A of HK $80,000 per month. |
| 2. | Party B shall pay a security deposit consisting of 2 months of base rent (HK $160,000), and first month’s rent upon signing. A 10% discount shall apply for first year starting from 8/1/2004 to 7/31/2005, resulting in monthly rent of HK $72,000. Starting from 8/1/2005, rent shall be HK $80,000. |
| 3. | Party B shall pay Party A the amount of HK $100,000 for 3 air-conditioning units. |
| 4. | The term of this lease shall be from 6/15/04 to 6/30/09. |
| 5. | Rent shall be waived during the tenant improvement period (45 days) from 6/15/04 to 7/31/04. |
| 6. | Party B shall reimburse Party A for the cost of electricity, at the rate of HK $1 per unit. The meter shall be checked monthly. |
| 7. | Party A shall pay the water bill. |
| 8. | The old sign may be changed by Party B. |
| 9. | Party B shall remove all fixtures and improvement prior to occupancy. |
| 10. | If either Party breaches this contract, the other Party shall be compensated in the amount of HK $300,000. |
All dollars are in Hong Kong currency.
| Sea Dragon Billiard & Snooker Association Ltd. |
| [signature] |
| (Authorized Representative) |
| Manigood International Industrial Limited (T/A Golden Bahania Duty Free) |
| [signature] |
| (Authorized Representative) |
