Commercial Lease Agreement

This Commercial Lease Agreement (the "Lease") is made and entered into on 2023-10-01, by and between Landlord Company LLC ("Landlord") and Tenant Business Inc. ("Tenant").

1. Premises

Landlord hereby leases to Tenant the commercial space located at 123 Business Park Dr, Suite 100, comprising approximately 2500 square feet (the "Premises").

2. Term

The term of this Lease shall be for a period of 5 years, commencing on 2023-10-01 and ending on 2028-09-30.

3. Rent and Security Deposit

• Base Rent: Tenant shall pay to Landlord a monthly base rent of $5000, due on the first day of each month.
• Additional Rent (Operating Expenses): This is a Triple Net Lease. In addition to Base Rent, Tenant shall pay its proportionate share of Operating Expenses, including real estate taxes, building insurance, and common area maintenance (CAM) costs. Estimated monthly Operating Expenses are $1200.
• Late Fee: Rent paid after the 5 day of the month shall incur a late fee of $100 or 5% of the overdue amount, whichever is greater.
• Security Deposit: Upon signing this Lease, Tenant shall deposit with Landlord the sum of $10000 as security for the performance of Tenant's obligations.

4. Use of Premises

The Premises shall be used for the following commercial purpose: Software Development Office.

• Restrictions: Tenant shall not use the Premises for any unlawful purpose, nor in any manner that creates a nuisance, disturbs other tenants, or invalidates Landlord's insurance.
• Signage: Tenant shall not place any signs on the exterior of the Premises without Landlord's prior written consent. All signage must comply with local zoning laws.

5. Maintenance, Repairs, and Alterations

• Landlord's Obligations: Landlord shall be responsible for the structural integrity of the building, roof, exterior walls, and building systems (e.g., HVAC, plumbing) up to the point of entry to the Premises.
• Tenant's Obligations: Tenant shall maintain the interior of the Premises in good condition and repair, including all fixtures, windows, doors, and interior walls. Tenant is responsible for janitorial services within the Premises.
• Alterations: Tenant shall not make any alterations, additions, or improvements to the Premises without Landlord's prior written consent. Any approved alterations shall become the property of Landlord at the expiration of the Lease, unless Landlord requests their removal.

6. Utilities and Services

Tenant shall be responsible for the payment of the following utilities: Electricity, Internet, Phone (e.g., electricity, gas, water, internet, trash removal). Landlord shall provide: Water, Sewer, Trash.

7. Insurance and Indemnification

• Tenant's Insurance: Tenant shall maintain, at its own expense, a comprehensive general liability insurance policy with a minimum coverage of $1000000 per occurrence, naming Landlord as an additional insured. Tenant shall also maintain insurance on its personal property and trade fixtures.
• Indemnification: Tenant agrees to indemnify and hold Landlord harmless from any claims, damages, or liabilities arising from Tenant's use of the Premises or the negligence of Tenant or its employees, agents, or guests.

8. Assignment and Subletting

Tenant shall not assign this Lease or sublet any portion of the Premises without Landlord's prior written consent, which shall not be unreasonably withheld. Any assignment or sublease shall not release Tenant from its obligations under this Lease.

9. Default and Remedies

If Tenant fails to pay rent when due or violates any other provision of this Lease, Landlord may declare Tenant in default.

• Cure Period: Tenant shall have 5 days to cure a monetary default and 15 days to cure a non-monetary default after written notice.
• Remedies: If the default is not cured, Landlord may terminate this Lease, retake possession of the Premises, and pursue all legal remedies to recover unpaid rent and damages.

10. Holding Over

If Tenant remains in possession of the Premises after the expiration of the Term without a new lease, such tenancy shall be deemed a month-to-month tenancy at a rental rate of 150% of the last monthly rent paid.

11. Miscellaneous

• Estoppel Certificate: Tenant agrees to execute an estoppel certificate within 10 days of request, certifying the status of this Lease.
• Subordination: This Lease is subject and subordinate to any existing or future mortgages or deeds of trust on the property.
• Parking: Tenant is allocated 5 parking spaces for its exclusive use.

12. Governing Law

This Lease shall be governed by and construed in accordance with the laws of New York. The parties agree that any legal action or proceeding relating to this Lease shall be instituted in a state or federal court in New York County, and the parties hereby submit to the jurisdiction of such courts.

13. Signatures

IN WITNESS WHEREOF, the parties have executed this Lease as of the date first above written.