Warehouse Lease by and between the Company and A&D Electronics LLC, dated October 19, 2020

Contract Categories: Real Estate - Lease Agreements
EX-10.1 2 focus_ex1001.htm WAREHOUSE LEASE

Exhibit 10.1

 

WAREHOUSE LEASE Lease. This Lease Agreement (this ·Lease) 1s made etfect1ve as 10119/2020 . by and between FOCUS UNIVERSAL INC . ( Landlord") and A&.D ELECTRONICS LLC ("Tenant") 2. Premises. Landlord. 111 cons1dera11on of the lease payments provided 1n lh1s Lease leases to Tenanl 3,000 S OF T warehouse plus one office space (the 'Premises") located at 2311 E LOCUST CT. ONTARIO CA 91761 . 3. Deposit. Tenant hereby delivers to Landlord a check In the amount of S4.800 00 ("Deposit") 4. Agreed Lease Terms. 4 1 Term of Lease. The terrn of the lease shall be ೦ months and shall begin 011 December 1 2020 and op t ion to extend 10 12 months 4 2 Rent. ( a ) The monthly Base Rent shall initially be $ ೦ and shall he adJuStec:I as follows P a y tw o months secu r ity deoos,t S4 800 00plus one mon th r ent S2 400 for the amount of 57 200 00 111 full o n 121112020 Base Rent s11a11 be payable. 111 advance. 011 theJ_day of each month. (bi 4 3 4 . 4 4.5 4.6 On execution of !ease. Tenant shall pay to Landlord S ೦ represenllng monthly Base Rent for eac n montlJ Security Deposit. The Security Deposit shall be 1n the amount of S4.800 00 Tot a l mo nie s dt1e u pon executio n of I.ease ( s ecurity deposit p l us a d ya n ce reno· $7 20 0 00 Agreed Use The Premises shall be used only for 3.000 S OFT warehou s e otus one office space Possession. If Te11anl 1s not already 111 possession Landlord shall deliver the Premises on 12/112020 Proportion and Share of Expenses. If the Premises are pan of a larger bu1ld1ng or a complex of butldings Tenant shall pay its pr opon1onate share of the operating expens e s . ,t any. of the propeny of which the Premises are a part. 1nclud1ng b u t not hm1ted to real property taxes. insurance maintenance and security costs Rental will include all utility and internet 5 . Additional Lease Terms . In adclrt 1 on to the Agreed Terms descnbea 1 n paragraph 4 the Lease wh,ch ,s to be ultimately executed bythe pan,es shall contain the prov 1 s 1 ons ot the most recent ed 1 t 1 on ot the lndustnal/Commerc 1 al Single Tenant . Net tndustnal/Com m erc 1 al Single Tenant· Gross . tndustnal/Commerc 1 al Multi - Tenant· Net . __ lndu strial/Co mm eraal Mul! 1 - Tenant - Gross . Multi· Tenant Office· Net . Multi Tenant Office - Gross . Retail Mult, . Te 11 ant Net . L Ot 11 er (specify) Comme n cem ent da t e throug h December 1 . 2 0201111 ough N ovemt>er 30 2021 • Monthly rent S 2 . 400 00 ( 50 . 60 /SOFTl . Rental price 1 sgo,ng to 1 ncryasr . S 0 . 02 /SQFT after each anniversary PAGE 1 OF 3 INITIALS Q INITIALS

 
 

The Pan1es agree to act reasonably and exped1t1ously with regard to the nego11at1on and draltong ol the lease agreement II Agreement cannot bo roached w1th1n hlteen days from the date ot the exec:utoon of 1h1s Agreement. then (a \ landlord ano Tenant shall mmedia r el y appoint a mu t ually acceptable attorney or broker 10 es t ablish l he terms ot the lease agreement w1 1 h1n the next ten days Any assoc,ated cosl:; will be split equally between the Parties. lbJ Both Landlord and Tenant shall o.?ach i mmediatel y subr r 1 1 1n w1111ng. a d1af1 ol the lease agreement which they propose 10 art:i:trate 1n accordance with the following provisions Iii W1th1n hve days t hereafter, Landlord and Tenant shall each select an Attorney or _x landlord (" Co ns ultant' check one \ of thn,r - :ho,ce to ;ir.t as an arb<trator The two arbitrators so appo i nted shall 1m111ed1ately selt:Ct a ll11rd mutudlly acceptable Consultant to acl as a thirdarbnrator. ( 11 ) The three arb 11 ra 1 ors shallw, 1 h,n ten daysot theappo 1 n 1 men 1 of t h e t hird arbitrator reach a oec1s1on as 10 what terms to insert in the ltnal tease agreeMen1 , and whether draft lease ..greement subm11ted by Landlord or Tenant 1s the closest thereto. The decision of a maionly of the arbitrators shall be binding on the Parties 111 It either of the Panies fails to appoint an : irb 111 a t or w 1 th 1 n tho spect 11 od hve days the arbitrator timely appointed by one of them shall reach a dec 1 s,on on his or her own . and sa,d decision shall be b 1 nd 1 ng on t he Parties ( iv) The entue cost of such nrb 1 t 1 a 1 ,on shall be pa,d by tho party whose draft tease agreement 1 s dete rm ined 10 be the one that 1 s NOT the closest lo the l 1 nal lease> 1 greomen 1 dcc 1 ecd on by the arb 111 ators 6 . Dangero u s Mat erials . Tenant shall not keep or have on the rem,sc any ar11clo or thing of a dangerous. flammable, or uxplos,ve character that m 1 gh 1 substantially incre a se the Clanger ol liro on t he P,om,ses or that might be considered hazardous by a responsible i nsurance company . unless the nor wnllen c onsent o' L .. 111 dlord 1 s obta 111 ed and proof of adequate insurance protection 1 s providedby Tenant to Landlord 7 . Mechani c s Li ens . Neither Tenant nor anyone clair 111 g through the Tenant shall have the ught to t,te mechanics l • en ,, or any other kind ol hen on the Premises and the filing ol this Lease cons 111 utes notices that such l,ens are 1 nvahd Further Tenan t agrees to ( 1 / give actual advance not,ce to any contrac t ors . subcon 1 rac 1 ors o r suppliers ot goods labor . 01 services that such hens will not be vahd . and (? , take whatcNer ackl'l 1 on ; rl i,tops that are necessa,y 1 n order 10 keep the prc , f"' 1 ses free of all hens resulting from construc 11 on done by or for the Tenant 8 . Subord i nation of l ease . This Lease 1s subordinate to any mongagc. that now exists or may be given late, by Landlotd. with respect to the Prcm,sc& , Dtl PAGE 2 OF J INITIALS INITIALS

 
 

9. Assignebility Subletting. Tenan1 may nol assign or sublease any 1n1e1e;.1 111 lhe Premises. nor assign mongage or pledge this Lease. w,1hout the prior wrnten consent of landlord. wh•ch shall not be mreasonably w1lhheld 1 0 . 11. Governing Law. This Lease shall be construed 111 accordance with the laws of lhe Stale of Calllorn1a Entire Agreement/Amendment. This Lease contains the entire agreement of the parties and there are no other promises . cond 111 ons . understandings or other agreements . whether oral or wrrtten . relating 10 1 he sub 1 oct manor of this Lease This Lease may be mod 1 f,ed or c 1 mended rn writing . ,f the wr 111 ng 1 s signed by the pany obligated under the amendment . 12. Severabillt y . II any po1!1on ol 1h1s Lease shall be held ro be 1nval1cl or unentorcuable tor any reason. the remain ng prov,s,ons shall cont,n ; ,e 10 be valid and enforceable . If a court hnds 1 ha 1 any prov 1 s 1 on of this Leaso 1 s invalid or unenforce :: 1 ble . but thal by hm 11 ,ng such prov 1 s, 011 1 ! wo . Jld become vallo and enlo,ceable . th ೦ n such prov,s,on shall be deemed to be written . construed . ana enforced as so l 1 m 1 ted 13. Waiver . The failure of either pany 10 enlorce any provis,ons of this Lease shall not be construed as a waiver or 1 , 11111 a 1 ,on of 1 h 111 party's ngh 1 10 subsequently enforce and compel strict com p liance wi 1 h every prov,s,on ot 1 h 1 s Leaso 14. B inding Effect . The provisions ot rh,s LeasP . shall be b 1 nd 1 ng upon and inure 10 the benefit of bo 1 h parties :: 1 nd lheu respec 11 ve legal r, 3 preson 1 a 11 ves . successors and assigns L andlord: FOCUS UNIVERSAL INC. Tenant: _..:::, A ....&O<O..,,E.,, L c,: E .,.C.,_ T :..,. RO =.,. N ,.,. 1C "'S:.., L :.:, L ,.,. C :...... --- ------ By : ' † ...,.. ::) - + - ' - Y '""' ೦ - " - ' -- " - "" - - k V N ame Printed: - = e ೦ * , ೦ - ' ೦ A - ) {' _ f _ ೦ W fJ ೦ -- By: ೦ ೦ ೦ Name Printed: ._j[SHtJ ೦ A/:J..tJ Email: Date: _ L ೦ - / ' J .:.... . - f ೦ Title: Phone: ೦ o 62 - 6 - 2 7 7 - . - - Stk) k';(l - /tf' ..rO@ .. I r,2r cW1u1· ೦ - ೦ \ r' r Date:_ ' LO I ..2,.C I W. ೦ - - PAGE 3 OF 3 INITIALS I N I T IALS