Sublease Agreement between Michael Collins and Cytta Corp. Effective October 25, 2020

Contract Categories: Real Estate › Lease Agreements
Summary

This agreement is between Michael Collins (Sublessor) and Cytta Corp. (Sublessee), allowing Cytta Corp. to use part of a property for lab, office, video studio, demonstration, and storage purposes. The sublease runs from October 26, 2020, to October 26, 2021, with Cytta Corp. paying $50,000 in advance for the year. The specific property address is omitted for security reasons. Both parties have agreed to the terms as of the effective date.

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EX-10.2 9 cyca_ex102.htm SUBLEASE AGREEMENT cyca_ex102.htm

EXHIBIT 10.2

  

 

 

Property Sublease Cytta/Collins

 

Effective Date

 

10/25/2020

 

 

 

between

 

Michael Collins (“Sublessor”) located at 8056 Redlands St. #2 Playa Del Rey, CA. 90293

 

 

 

and

 

Cytta Corp. (“Sublessee”) a Nevada Corporation located at 5450 W Sahara Ave., Suite 300, Las Vegas NV, 89146

 

Whereas:

 

Sublessor is executing a Master Lease for premises for certain property to be leased to the Sublessor as the lessee. Given the government and other security requirements of both sublessor and sublessee the address of the premises is intentionally left out of this agreement.

 

Now, the lessee as Sublessor wishes to provide Cytta Corp. a sublease which permits Cytta Corp to utilize part of the facilities as lab and testing facility, office, video studio, demonstration facility and storage location subject to the direction of the sublessor. In consideration for the mutual promises, covenants, and agreements made below, the parties, intending to be legally bound, agree as follows:

 

1. Term & Rent

 

The Sublessor leases to the Sublessee, and the Sublessee leases from the Sublessor, the Premises commencing 10/26/2020, and terminating on 10/26/2021. The sublease agrees to pay the sublessor the sum of $50,000.00 in advance for the annual lease payment.

 

2. Uses

 

The Sublessee shall use and occupy the portion of the premises described above.

 

Understood, Agreed & Accepted

 

We have carefully reviewed this contract and agree to and accept its terms and conditions. We are executing this Agreement as of the Effective Date first written above.

 

 

Accepted and Agreed

 

         
/s/ Gary Campbell     /s/ Michael Collins  
Gary Campbell CEO     Michael Collins CTO  
Cytta Corp.     Cytta Corp.