Sublease Agreement by and between Cytta Corp and Michael Collins dated October 25, 2020
EXHIBIT 10.2
Property Sublease Cytta/Collins
Effective Date |
| 10/25/2020 |
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between |
| Michael Collins (“Sublessor”) located at 8056 Redlands St. #2 Playa Del Rey, CA. 90293 |
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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. |