EXHIBIT 10.2
LEASE AGREEMENT
DATED AUGUST 1, 1995
STORE LEASE
(GENERAL, SHORT FORM)
1. PARTIES:
This Lease is made and entered into this 1st day of August, 1995, by and
between MARTY LAKIN AND DELORES LAKIN (hereinafter referred to as "Landlord")
and SAIMA K. HAMEED AND S. SHAWN HAMEED (hereinafter referred to as "Tenant").
2. PREMISES:
Landlord hereby leases to Tenant and Tenant hereby leases from Landlord, on
the terms and conditions hereinafter set forth, that certain real property and
the building and other improvements located thereon situated in the City of
Artesia, County of Los Angeles, State of California, commonly known as 18638
South Pioneer Boulevard, 90701 (said real property is hereinafter called the
"Premises").
3. TERM:
The term of this Lease shall be for five (5) years commencing on
September 1, 1995, and ending on August 31, 2000.
4. RENT:
Tenant shall pay to Landlord as rent for the Premises, the sum of Three
Thousand Two Hundred ($3,200.00) dollars per month, in advance on the first day
of each month during the term hereof. Rent shall be payable without notice or
demand and without any deduction, off-set, or abatement in lawful money of the
United States to the Landlord at the address stated herein for notices or to
such other persons or such other places as the Landlord may designate to Tenant
in writing.
5. USE:
Tenant shall use the Premises for clothing and related items, and for no
other purposes without the Landlord's prior written consent.
6. TAXES:
(a) Real Property Taxes.
Landlord shall pay all real property taxes and general assessments
levied and assessed against the Premises during the term of this Lease.
(b) Personal Property Taxes.
Tenant shall pay prior to the delinquency all taxes assessed against
and levied upon the trade fixtures, furnishings, equipment and other personal
property of Tenant contained in the Premises.
7. UTILITIES:
Tenant shall make all arrangements and pay for all water, gas, heat, light,
power, and other utility services supplied to the Premises together with any
taxes thereon and for all connection charges. Tenant shall pay for all
telephone charges. If Tenant shall be responsible for the payment of utility
charges hereunder, if any such services are not separately metered to Tenant,
the Tenant shall pay a reasonable proportion, to be determined by Landlord, of
all charges jointly metered with other premises.
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8. ALTERATIONS AND ADDITIONS:
Tenant shall not, without the Landlord's prior written consent, make any
alterations, improvements or additions in or about the Premises.
9. HOLD HARMLESS:
Tenant shall indemnify and hold Landlord harmless from and against any and
all claims arising from Tenant's use or occupancy of the Premises or from the
conduct of its business or from any activity, work, or things which may be
permitted or suffered by Tenant in or about the Premises including all damages,
costs, attorney's fees, expenses and liabilities incurred in the defense of any
claim or action or proceeding arising therefrom. Except for Landlord's willful
or grossly negligent conduct, Tenant hereby assumes all risk of damage to
property or injury to person in or about the Premises from any cause, and Tenant
hereby waives all claims in respect thereof against Landlord.
10. ASSIGNMENT AND SUBLETTING:
Tenant shall not voluntarily or by operation of law assign, transfer,
sublet, mortgage, or otherwise transfer or encumber all or any part of Tenant's
interest in this Lease or in the Premises without Landlord's prior written
consent which consent shall not be unreasonably withheld.
11. DEFAULT:
It is agreed between the parties hereto that if any rent shall be due
hereunder and unpaid, or if a receiver be appointed to take possession of
substantially all of Tenant's assets located at the Premises or of Tenant's
interest in the Lease, or if Tenant shall make a general assignment or
arrangement for the benefit of creditors, or if Tenant shall take any action
under any insolvency or Bankruptcy act, or if Tenant shall default and breach
any other covenant or provision of the Lease, then the Landlord, after giving
the proper notice required by law, may re-enter the Premises and remove any
property and any and all persons therefrom in the manner allowed by law. The
landlord may, at his option, either maintain this Lease in full force and effect
and recover the rent and other charges as they become due or, in the
alternative, terminate this Lease. In addition, the Landlord may recover all
rentals and any other damages and pursue any other rights and remedies which the
Landlord may have against the Tenant by reason of such default as provided by
law.
12. SURRENDER:
On the lst day of the term of this Lease, Tenant shall surrender the
Premises to Landlord in good condition, broom clean, ordinary wear and tear and
damage by fire and the elements excepted.
13. HOLDING OVER:
If Tenant, with the Landlord's consent, remains in possession of the
Premises after expiration or termination of the term of this Lease, such
possession by Tenant shall be deemed to be a tenancy from month-to-month at a
rental in the amount of the last monthly rental plus all other charges payable
hereunder, and upon the provisions of this Lease applicable to such a month-to-
month tenancy.
14. BINDING ON SUCCESSORS AND ASSIGNS:
Each provision of this Lease performable by Tenant shall be deemed both a
covenant and a condition. The terms, conditions and covenants of this Lease
shall be binding upon and shall inure to the benefit of each of the parties
hereto, their heirs, personal representatives, successors and assigns.
15. NOTICES:
Whenever under this Lease a provision is made for any demand, notice or
declaration of any kind, it shall be in writing and served either personally or
sent by registered or certified United States mail, postage prepaid, addressed
at the addresses as set forth below:
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To Landlord at: 4245 Harbour Island Lane
Oxnard, California 93035
To Tenant at: 931 Cantera Drive
Diamond Bar, California 91765
Such notice shall be deemed to be received within forty-eight (48) hours
from the time of mailing, if mailed as provided for in this paragraph.
16. WAIVERS:
No waiver by Landlord of any provision hereof shall be deemed a waiver of
any other provision hereof or of any subsequent breach by Tenant of the same or
any other provisions.
17. TIME:
Time is of the essence of this Lease.
18. Tenant will have an option to renew for an additional five (5) year term,
beginning September 1, 2000 to August 31, 2005. A new renewal schedule shall be
agreed upon prior to execution of this Lease option.
19. For the term of this Lease, Tenant shall maintain liability insurance in
the amount of one million ($1,000,000.00) dollars, and the name Marty Lakin and
Delores Lakin as additional insureds. Tenant shall also maintain glass
insurance coverage on the leased Premises. All insurance coverage referred to
herein shall be paid for by the Tenant. Proof of liability and glass insurance
coverage shall be delivered to Landlord.
20. Received from Shawn Hameed (Tenant) Two Thousand One Hundred Thirty Three
Dollars ($2,133.00) for first month, September 10 to 30, 1995 rental. Last
month rent, August 2005 of this Lease is Three Thousand Two Hundred Dollars
($3,200.00) shall be paid on or before September 10, 1995.
The parties hereto have executed this Lease on the date first above
written.
LANDLORD: TENANT:
By: /s/ By: /s/
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Marty Lakin Saima Hameed
By: /s/
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Delores Lakin
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