Lease Agreement
1. Object for Lease: Room #1504 & 1505, Dongwha Bldg., #25-5, Yeoido-dong,
Youngdeungpo-gu, Seoul, KOREA (Total area: 146.102pyong (pyong: unit of
area), common floor space included)
2. Security Money for Lease: USD
Monthly Rent: USD
3. General Items
Article 1 (Payment of Security Money): Lessor receives USD as contract
money on the below date; Lessee shall pay Lessor for USD as the balance on June
27, 2004 when Lessee moves to the above address and shall bear monthly rent and
management expenses from the above date.
Article 2 (Term of Lease): The term of this agreement shall be 12 months
from the above date and extend to 1 more year without any objection of both
parties by 3 months prior to the expiration date.
Article 3 (Moving-out during Term of Lease): Lessee shall exempt Lessor
from any future damages cased by vacancy by deducting 3-month monthly rent and
management expenses from security money, when Lessee shall move out during term
of lease in its own circumstances. However, only in case of cancellation
application 2 months prior to the expiration date, 2-month monthly rent and
management expenses will be deducted; and the above deduction shall not be
applied when the other lessee shall move in prior to the expiration date.
Article 4 (Payment of Monthly Rent): Monthly rent shall be paid to Lessor
or the person appointed by Lessor by 15th day of each month, and management
expenses shall follow management agreement of Dongwha Bldg.
Article 5 (Overdue Interest): In case of delay in payment, Lessee shall
pay overdue interest at the following rate: 5% for 2-month delay and 10% for
more than 2-month delay; in case of more than 3-month dealy, Lessor shall expire
this agreement, settle the interest from security money and vacate.
Article 6 (Alteration and Addition of Facilities): Lessee shall be able to
execute alteration or addition of facilities with the approval of Lessor or
control office, but in case of cancellation/evacuation, Lessee shall bear the
expenses for restoration to the former state.
Article 7 (Miscellaneous):
1. All regulations regarding the use of offices shall follow the management
regulations of Dongwha Bldg.
2. Lessor shall not be responsible for any facilities expenses or premium for
object of lease at the time of cancellation.
The date of moving-in shall be able to be adjusted to earlier June 27,
2004.
May 4, 2004
Lessor
Address: #1053, Kwangdeok-ri, Sanae-myeon, Hwacheon-gun, Kangwon-do
Registration No,: 116-02-61359
Tel No.: +82-2-783-1094
Name: 3 persons including Hyoung Joon Yoon
Lessee
Address: #891-43, Daechi-dong, Gangnam-gu, Seoul
Registration No,: 105-81-87693
Tel No.: +82-11-738-8200
Name: Sang Don Kim (CEO/President)
Lease Agreement
4. Object for Lease: Room #1503, Dongwha Bldg., #25-5, Yeoido-dong,
Youngdeungpo-gu, Seoul, KOREA (Total area: 45.533 pyong (pyong: unit of
area), common floor space included)
5. Security Money for Lease: USD
Monthly Rent: USD
6. General Items
Article 1 (Payment of Security Money): Lessor receives USD as contract
money on the below date; Lessee shall pay Lessor for USD as the balance on June
27, 2004 when Lessee moves to the above address and shall bear monthly rent and
management expenses from the above date.
Article 2 (Term of Lease): The term of this agreement shall be 12 months
from the above date and extend to 1 more year without any objection of both
parties by 3 months prior to the expiration date.
Article 3 (Moving-out during Term of Lease): Lessee shall exempt Lessor
from any future damages cased by vacancy by deducting 3-month monthly rent and
management expenses from security money, when Lessee shall move out during term
of lease in its own circumstances. However, only in case of cancellation
application 2 months prior to the expiration date, 2-month monthly rent and
management expenses will be deducted; and the above deduction shall not be
applied when the other lessee shall move in prior to the expiration date.
Article 4 (Payment of Monthly Rent): Monthly rent shall be paid to Lessor
or the person appointed by Lessor by 15th day of each month, and management
expenses shall follow management agreement of Dongwha Bldg.
Article 5 (Overdue Interest): In case of delay in payment, Lessee shall
pay overdue interest at the following rate: 5% for 2-month delay and 10% for
more than 2-month delay; in case of more than 3-month dealy, Lessor shall expire
this agreement, settle the interest from security money and vacate.
Article 6 (Alteration and Addition of Facilities): Lessee shall be able to
execute alteration or addition of facilities with the approval of Lessor or
control office, but in case of cancellation/evacuation, Lessee shall bear the
expenses for restoration to the former state.
Article 7 (Miscellaneous):
1. All regulations regarding the use of offices shall follow the management
regulations of Dongwha Bldg.
2. Lessor shall not be responsible for any facilities expenses or premium for
object of lease at the time of cancellation.
The date of moving-in shall be able to be adjusted to earlier June 27,
2004.
May 4, 2004
Lessor
Address: 1-901, Seoul Apt., #25, Yoeido-dong, Youngdeungpo-gu, Seoul
Registration No,: 671222-1047711
Tel No.: +82-2-784-7291
Name: Sang Ryool Park
Lessee
Address: #891-43, Daechi-dong, Gangnam-gu, Seoul
Registration No,: 105-81-87693
Tel No.: +82-11-738-8200
Name: Sang Don Kim (CEO/President)