ead-ex10_6.htm - Generated by SEC Publisher for SEC Filing









EXHIBIT 10.6



Commercial Sub-Lease Agreement


 


 


 


            This Commercial Sub-Lease Agreement dated May 7, 2013 is by and between Masterpiece Investments Corporation, an Oregon corporation (“Sub-Lessor”), and Experience Art and Design, Inc., a Nevada corporation (“Sub-Lessee”), for office space located at 27929 SW 95th Avenue, Suite 1101, Wilsonville, OR 97070 (the “Premises”).


 


            WHEREAS, Sub-Lessor is a party to a Lease Agreement (“Master Lease”) dated December 27, 2010 and Addendum thereto dated February 20, 2013 between it and Rippey Investments Inc. for property including the Premises;


 


            WHEREAS, Sub-Lessor desires to sub-lease the Premises to Sub-Lessee, and Sub-Lessee desires to sub-lease the Premises from Sub-Lessor.


 


            NOW, THEREFORE, IT IS AGREED BY AND BETWEEN THE PARTIES:


 


	The Sub-Lessor leases to the Sub-Lessee all of the Premises which consist of 5629 square feet. 



 


	The term (“Term”) of this Sub-Lease shall commence as of May 7, 2013 and end at 12:00 noon on June 30, 2016. 



 


	The Sub-Lessee shall pay and the Sub-Lessor shall accept the sum of Three Thousand Dollars ($3,000.00) per month during the Term which shall be paid no later than the fifth day of each calendar month. 



 


	The Sub-Lessee shall deliver monthly rent payments to Sub-Lessor at 27929 SW 95th Avenue, Suite 601, Wilsonville, OR 97070. 



 


	During the Term of this Sub-Lease, the Sub-Lessee shall pay all utilities and other charges due with respect to the Premises. 



 


	The Sub-Lessee, at its own expense, shall carry insurance similar to that required of the Sub-Lessor under the Master Lease. 



 


	The Sub-Lessee shall have the same right to make such alterations and improvements to the Premises as the Sub-Lessor is allowed under the Master Lease. 



 


	The Sub-Lessee will pay any excise or other taxes duly assessed against its business, the Premises and any personal property on the Premises. 



 


	The Sub-Lessee shall be in default under this Sub-Lease upon the occurrence of any one or more of the following events (“Events of Default”): 



 



	The Sub-Lessee fails to pay Rent to the Sub-Lessor when due or within the grace period, if any. 





 









 








 



 



	The Sub-Lessee fails to perform any of its obligations under Sub-Lease or any applicable obligations under the Master Lease. 



 



	The Sub-Lessee becomes insolvent, bankrupt or is involved in any dissolution or liquidation proceeding or if a receiver is appointed for Sub-Lessee. 



 



	The Sub-Lessee abandons the Premises. 



 


	Upon the occurrence of an Event of Default, the Sub-Lessor has any or all of the following remedies: 



 



	The Sub-Lessor may terminate this Sub-Lease upon such notice as required in the Master Lease, at which time this Sub-Lease will be forfeited and will be void. 



 



	The Sub-Lessor may, but is not obligated to, perform on behalf of the Sub-Lessee any obligation of this Sub-Lease which the Sub-Lessee has failed to perform and seek redress from the Sub-lessee for such performance. 



 



	The Sub-Lessor may reenter and repossess the Premises. 



 


	This Sub-Lease will remain in effect until the expiration hereof or may be cancelled by Sub-Lessee upon thirty days’ written notice to Sub-Lessor. 



 


	Upon the expiration, termination or cancellation of the Master Lease, all obligations of the parties under this Sub-Lease shall be extinguished.  



 


 


 


 


 


 


(Signature Page Follows)




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            IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first written above.


 


 




	

   Sub-Lessor
	

   Sub-Lessee

	

    
	

    
	

    
	

    

	

   MASTERPIECE INVESTMENTS CORPORATION
	

   EXPERIENCE ART AND DESIGN, INC.

	

    
	

    
	

    
	

    

	

    
	

    
	

    
	

    

	

    
	

    
	

    
	

    

	

   By /s/ Mark Ghiglieri
	

   By /s/ Kenneth R. Kepp

	

   Mark Ghiglieri


   President
	

   Kenneth Kepp


   Chief Financial Officer