LEASE
THIS LEASE, dated October 1, 1999, is made and entered into by the Landlord and Tenant named herein who, in consideration of the covenants herein contained, agree as follows:
ARTICLE 1- BASIC TERMS, SCHEDULES, DEFINITIONS
1.1 Basic Terms
(A) (i) Landlord: No. 150 Cathedral Ventures Ltd.
(ii) Address of Landlord: #1300- 409 Granville Street Vancouver, BC V6C 1T2
(B) (i) Tenant: Onvia. com Channels, Inc.
(ii) Head Office of Tenant: Suite 205- 1008 Homer Street Vancouver, B. C. V6B 2X1
(C) Address of Premises: 330- 948 Homer Street Vancouver, BC
(D) Floor Area of Premises: 5,271 square feet (more or less) located on the third floor of the Building shown on Schedule "A" including the leasehold improvements referenced in Schedule "B".
(E) (i) Term: 5 years
(ii) Renewal Terms: Three (of three years each)
(iii) Commencement Date: August 1, 1999 or upon completion of Landlord's work, whichever last occurs.
(iv) Occupation Date: Upon completion of Landlord's work. Landlord to use best efforts to complete no later than July 17, 1999.
(F) Minimum Rent: (exclusive of GST)
<TABLE> |
|
|
|
|
Lease Years |
Sq. Ft |
Rate$/Sq. Ft. |
$/Month |
$/Annum |
<S> |
<C> |
<C> |
<C> |
<C> |
Aug. 1/99, Feb. 29/00 |
3,696 |
$16.00 |
$4,928.00 |
$34,496.00 |
Mar. 1/99, Jul. 31/00 |
4,371 |
$16.00 |
$5,828.00 |
$29,140.00 |
|
5,271 |
$16.00 |
$7,028.00 |
$84,336.00 |
|
5,271 |
$16.00 |
$7,028.00 |
$84,336.00 |
|
5,271 |
$16.00 |
$7,028.00 |
$84,336.00 |
|
5,271 |
$16.00 |
$7,028.00 |
$84,336.00 |
</TABLE> |
|
|
|
|
Notwithstanding the above, the Landlord and the Tenant acknowledge and agree that as contemplated by Section 4.2 hereof:
2. the Tenant is not to pay any Minimum Rent for the first two months of the Term; and
3. the Tenant has paid Landlord a deposit of$12,792.92 which is to be applied on account of the third months Minimum Rent ($4,928.00) and the last months Minimum Rent ($7,028.00) and applicable GST.
(G) Permitted Use of Premises: General office use including computer software development and ancillary offices and for no other use without the express written consent of the Landlord.
(H) Legal Description of Lands: Parcel B of 5& 6, Lot A of 6& 7 of 39 to 58, Block 76, D. L. 541, Plan 4544, Vancouver District, Vancouver, B. C.
The foregoing Basic Terms are hereby approved by the parties and each reference in this Lease to any of the Basic Terms shall be construed to include the provisions set forth above as well as all of the additional terms and conditions of the applicable sections of this Lease where such Basic Terms are more fully set forth.
1.2 Schedules
The schedules to this Lease are incorporated into and form an integral part of this Lease.
1.3 Definitions
In this Lease, the words, phrases and expressions set forth in Schedule "C" are used with the meanings defined therein.
ARTICLE II- GRANT OF LEASE
2.1 Demise
The Landlord, being registered as owner of the Lands legally described in Section 1.1 (h), subject, however, to such mortgages and encumbrances as are registered against title thereto as of the date hereof, does hereby lease to the Tenant, for the Term and upon and subject to covenants and conditions hereinafter expressed, the Premises.
2.2 The Landlord in addition to the foregoing does hereby grant to the Tenant the exclusive use during the Term of two parking space located on the Lands at no cost to the Tenant.
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