Document:

Real Estate Lease Agreement

Real Estate Lease Agreement

This Lease Agreement (this "Lease") is dated May 1st, 2002, by and between NorQuest Seafoods inc. ("landlord") and Golden Caviar, P.O. Box 3061. Lynwood, WA. 98046 ("Tenant"). The parties agree as follows:

1.PREMISES. Landlord, in consideration of the lease payment provided in this lease, leases to tenant the following property located at S 1200 Nordic Drive, Petersburg, Alaska. 99833
1.14-room bunk housing located on the property of South 1202 Nordic Dr.

2.A two-bedroom house located on South 1203 Nordic Drive.

3.A processing building know as the egghouse approximately (1500 sq. ft.) and 50% of a warehouse approximately (3600 sq. ft.)

2.TERM: The lease term will begin on June 15th, 2002 and terminate on September 15th, 2002

3.LEASE PAYMENT: Tenant shall pay to Landlord the following sum: Payment submitted to NorQuest Seafoods Inc. at 5245 Shilshole Ave Northwest. Seattle, WA. 98107
1.14 room bunkhouse: payment of $2,800 per month. Tenant shall pay to the landlord $4,200 to guarantee rental on June 1, 2002 with the balance of payment due on September lth, 2002.

2.Two bedroom residence: payment of $750 per month. Tenant shall pay to the landlord $1125 to guarantee rental on June 1, 2002 with the balance of payment due on September lth, 2002.

3.Processing building: Payment based on green roe received on premise of $.10 a pound with a minimum guarantee of $30,000. The minimum guarantee of $30,000 is due on June 1, 2002 with the balance of payment due on September 10th, 2002.

4.SECURITY PROVISION EQUIPMENT LIEN:

Tenant grants to Landlord a security interest in the equipment located on the leased premises for the purposes of securing payment of the lease fee. Landlord may take possession of the equipment and sell the same for payment of the lease fees. If this is a junior security interest lessee will faithfully perform all obligations to secured creditors holding senior secured interests in the equipment. Default in any such obligation is default under the lease. Landlord has the right, but not the duty to cure any such default. Any amounts expended by Landlord shall bear interest at 12% per annum and are due upon demand.

5.POSSESSION. Tenant shall be entitled to possession on the first day of the term of this Lease, and shall yield possession to the Landlord on the last day of this lease, unless otherwise agreed by both parities in writing. At the expiration of the term, Tenant shall remove its goods and effects and peaceable yield up the premises to the Landlord in as good a condition as when delivered to Tenant, ordinary wear and tear excepted.

6.FURNISHINGS. The following finishing will be provided: 28 Beds with bedding including sheets, pillowcase, pillows and blankets.

7.PARKING: Tenant shall be permitted 4 parking spaces for S 1200 Nordic Drive and a total of 1 for the South 1203 Nordic Drive.

8.PETS: No pets shall be allowed on premises.

9.STORAGE: Tenant shall have storage in the area specified in the lease agreement. Landlord shall not be liable for loss of or damage to stored items.

10.PROPERTY INSURANCE: Tenant shall maintain appropriate insurance for their respective interests in the premise and property located on the premise. Landlord shall be named as an additional insured for workmen's' compensation (statutory limit), general liability ($2M limit) and auto insurance (minimums) from raw material venders. Tenant shall deliver appropriate evidence to Landlord as proof that adequate insurance is in full force and issued by a companies reasonable satisfactory to Landlord. Landlord shall receive advance written notice from insurer prior to any termination of such insurance policies. Tenant shall also maintain any other insurance, which Landlord may reasonably require for the protection of Landlords interest in premises. Tenant is responsible for maintaining casualty insurance of it own property.

11.MAINTENANCE:

Landlord's obligation for maintenance shall include:
The roof, outside walls and other structural parts of the buildings

The electrical wiring

The setup of premise water, sewage, electrical and appliances from winterized state.

Tenants obligation for the maintenance shall include:
The sewer, water pipes and other matters related to plumbing.

All other items of maintenance not specifically delegated to Landlord under this Lease.

Tenant shall submit in writing to Landlord any request to change the facility with regards to physical structure or utility modification. Tenant shall incur all expenses required to modify the facility as well as cost associated with returning facility back to original configuration. Tenant will not initiate change without prior written agreement from Landlord. Licensed contractors will perform modifications when required by local and state codes.

12.UTILITIES and SERVICES. Tenant shall be responsible for all utilities and services incurred in connection with the premises including water, sewer, garbage, electrical and fuel.

13.TAXES. Landlord shall pay all real estate taxes and assessments and all other taxes levied against the premise which are attributable to Tenants use of the premise, along with all sales or and/or use taxes (if any) that may be due in connection with the lease payment.

14.DEFAULT. Tenant shall be in default of this lease if tenant fails to fulfill any obligation or term by which Tenant is bound. Subject to any governing provisions of the law to the contrary, if Tenant fails to cure any financial obligations with in 10 days (or any other obligations with in 10 days) after written notice of such defaults is provided by the Landlord to Tenant. Landlord may take possession of premise without further notice (to the extent permitted by law) and without prejudicing Landlords right to damages. In the alternative, Landlord may elect to cure any default and cost of such action shall be added to the financial obligation under this lease. Tenant shall pay all costs, damages and expenses (including reasonable attorney fees and expenses) suffered by Landlord by reasons of tenant's default. All sums of money or charges required to be paid by Tenant under lease shall be additional rent, whether or not such sums or charges are designated as "additional rent". The rights provided in this paragraph are cumulative in nature and are additional to any other rights afforded by law.

15.CUMULATIVE RIGHTS. The rights of the parties under lease are cumulative, and shall not be constructed as exclusive unless otherwise required by law.

16.ACCESS BY LANDLORD TO PREMISE. Subject to Tenant's consent (which shall not be unreasonably withheld), Landlord shall have the right to enter the premise to make inspections, provide necessary service, or show the units to perspective buyers, mortgagees, tenants or workers. However, Landlord doesn't assume any liability for the care or supervision of the premise. As provided by law, in the case of emergency, Landlord may enter the premise without Tenants consent.

17.INDEMNITY REGARDING USE OF PREMISE. To the extent permitted by law, Tenant agrees to indemnify, hold harmless, and defend Landlord from and against any and all losses, claims, liabilities, and expenses, including reasonable attorney fees, if any, which landlord may suffer or incur in connection with Tenants possession, use or misuse of the premise, except Landlord's act or negligence.

18.COMPLIANCE WITH REGULATIONS. Tenant shall promptly comply with all laws, ordinance requirements and regulations of federal, state, county, municipal and other authorities, and the fire insurance underwriters. However, Tenant shall not by this prevision be required to make alterations to the exterior of the building or alterations of a structural nature.

19.ABRITATION. Any controversy or claim relating to this contract, including the construction or application of this contact, will be settled by binding arbitration under the rules of the American Arbitration Association, and any court of proper jurisdiction may enforce any judgements granted by arbitrator(s).

20.ASSIGNABILITY/SUBLETTING. Tenant may not assign or sublease any interest in the premises, nor effect a change in the majority ownership of the tenant (from the ownership existing at the inception of this lease), nor assign, mortgage or pledge of lease, without the prior written consent of Landlord, which shall not be unreasonably withheld.

21.NOTICE. Notice under this lease shall not be deemed valid unless given or served in writing and forwarded by mail, postage, addressed as follows:

Landlord:

NorQuest Seafoods Inc.

C/O Jim Denning

5245 Shilshole Ave NW

Seattle, WA. 98107

Tenant:

Golden Caviar

C/O Jim Stanley

P.O. Box 3061

Lynwood, WA. 98046

Such addresses may be changed from time to time by either party by providing notice set forth above. Notices mailed in accordance with the above provision shall be deemed received on the third day after posting.

22.GOVERNING LAW. This lease shall be constructed in accordance with the laws of the State of Washington .

23.ENTIRE AGREEMENT/AMENDMENT. This lease agreement contains the entire agreement of the parties and there are no other promises, conditions, understandings or other agreements, whether written or oral, relating to the subject matter of this lease. This lease may be modified or amended in writing, if writing is signed by the party obligated under the amendment.

24.SEVERABILITY. If any portion of this lease shall be held invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this lease is invalid or unenforceable, but that by limiting such provision, it would become valid and enforceable, then such provision shall be deemed in written, constructed, and enforced as so limited.

25.WAIVER. The failure of either party to enforce any provision of this lease shall not be construed as a waiver or limitation of the party's right to subsequently enforce and compel strict compliance with every provision of the lease.

26.BINDING EFFECT. The provision of this lease shall be binding upon inure to the benefit of parties and their respective legal representatives, successors and assigns.

27.LICENSE AND PERMITS: Tenant is responsible for all license and permits to conduct their operations.

LANDLORD:

/s/ John Sund Date: May 1, 2002

NorQuest Seafoods Inc.

John Sund. Vice President of Operations

TENANT:

/s/ Jim Stanley Date: May 1, 2002

Golden Caviar Corp.

Jim Stanley. Chief Operations OfficerPROMISSORY NOTE

SECURED DEMAND

GRID PROMISSORY NOTE

 

February 28, 2002

WHEREAS:

A.DR. MICHAEL SCHEGLOV (the "Lender") has agreed to loan to ROLLTECH, INC. (the "Borrower"), a Nevada corporation with offices at 15411 N.E. 95th Street, Redmond, Washington, U.S.A., up to FIFTY THOUSAND DOLLARS ($50,000) of lawful money of the United States of America (the "Loan"); and

B.The Lender will make advances to the Borrower from time to time in respect of the Loan.

FOR VALUE RECEIVED, the Borrower promises to pay to the order of the Lender, ON DEMAND, at 15411 N.E. 95th Street, Redmond, Washington, U.S.A., the unpaid principal balance (the "Principal Sum") of all advances made by the Lender to the Borrower under the Loan as recorded by the Lender on the grid or grids attached hereto (the "Grid"), together with simple interest thereon as herein provided. 
1.The Grid shall, in the absence of manifest error, constitute conclusive proof of the amounts and dates of all advances and repayment of principal in respect of the Loan.

2.The Principal Sum shall bear interest at 15% per annum both before and after each of maturity, default and judgment. It is the intention of the Borrower and the Lender to conform strictly to any applicable usury laws and any laws prohibiting a criminal rate of interest. Accordingly, nothing herein shall be construed in such manner as shall result in the Lender having been deemed to have contracted for or charged interest in excess of the maximum lawful interest rate.

3.The Borrower may, at any time and from time to time, prepay all or any part of the amount owing hereunder without notice, penalty or bonus.

4.The Borrower hereby waives demand and presentment for payment, notice of non-payment, protest and notice of protest of this Note and agrees to pay and completely indemnify the Lender for all costs and expenses (including legal fees and costs) paid or incurred in collecting any monies due hereunder.

5.Extension of time of payment of all or any part of the amount owing hereunder at any time or times and failure of the Lender to enforce any of their rights or remedies hereunder shall not release the Borrower from its obligations hereunder or constitute a waiver of the rights of the Lender to enforce any rights and remedies thereafter.

6.As security for the payment of the principal and interest under this Note, the Borrower hereby grants a security interest on all of the Borrower's present and after acquired personal property and a floating charge over all of its present and after acquired real property, in accordance with and subject to the provisions of this Note. The security constituted under this Note is general and continuing security for the repayment of all debts, liabilities and performance of all obligations of the Borrower, present and future, absolute or contingent, direct or indirect, matured or not, extended or renewed pursuant to the terms of the Note. It is hereby declared that until the security of this Note is enforced, as provided hereunder, the creation and existence of the security interest shall in no way hinder or prevent the Borrower from:
(a)borrowing upon the security of its book debts, inventory or other property of the Borrower as may from time to time be necessary in the ordinary course of its business and for the purpose of carrying on or extending the same;

(b)pledging, assigning or giving security on its assets to its bankers;

(c)pledging, assigning or giving security on its assets to any director, officer or shareholder of the Borrower in connection with a loan, provided that the aggregate amount of all such loans (other than the loan evidenced by this Note) does not exceed $500,000; or

(d)assuming or granting any obligations, mortgage or charge on any property acquired after the date hereof, to secure the whole or any part of the purchase price to be paid for such property.

7.Except as otherwise agreed in writing by the Lender, the security interests created hereby will attach, in the case of after acquired property forming part of the collateral, upon the Borrower obtaining rights in such property and, in all other cases, upon the execution of this Note.

8.The security hereby granted will not extend or apply to, and the collateral will not include:
(a)the last day of any term created by any lease or agreement therefor (but the Borrower will stand possessed of the reversion thereof remaining upon trust for the Lender to assign or dispose thereof as the Lender may direct); or

(b)any lease or other agreement requiring the consent or approval of the lessor or other party thereto to the security hereby granted, unless and until such consent or approval has been obtained.

9.The Borrower hereby authorizes the Lender to file such financing statements and other documents and to do such acts, matters and things as the Lender may deem appropriate to perfect and continue the security constituted hereby, to protect and preserve the property charged hereunder and to realize upon the security constituted hereby; and the Borrower hereby irrevocably constitutes and appoints the Lender the true and lawful attorney of the Borrower, with full power of substitution, to do any of the foregoing in the name of the Borrower whenever and wherever it may be deemed necessary or expedient by the Lender.

10.If the Borrower fails to perform any of its obligations hereunder, then the Lender may, but is not obliged to, perform any or all of such obligations without prejudice to any other rights and remedies of the Lender hereunder; and any payments made and any costs, charges and expenses incurred in connection therewith will be payable by the Borrower to the Lender on demand.

11.The Borrower shall not, without the prior written consent of the Lender:
(a)except as permitted under clause 6(a), 6(b), 6(c) or 6(d), grant any mortgage or create any charge, lien or encumbrance on its property subject to the charge hereby granted which is capable of ranking in priority to or pari passu with the security constituted under this Note; or

(b)sell or dispose of any of the property subject to the charge hereby granted otherwise than in the ordinary course of its business.

12.The principal money hereby secured and accrued interest shall immediately become due and payable and the security hereby constituted shall become enforceable:
(a)upon demand; or

(b)if the Borrower defaults in the observance or performance of any term, covenant or condition contained in this Note and such default is not remedied within fifteen (15) business days after service on the Borrower by the Lender of a notice in writing requiring that such default be remedied; 

(c)if the Borrower becomes bankrupt or insolvent or goes into liquidation, either voluntarily or under any order of a court of a competent jurisdiction, or makes a general assignment for the benefit of its creditors, or otherwise acknowledges its insolvency;

(d)the Borrower ceases or threatens to cease to carry on business;

(e)a receiver, receiver and manager or receiver-manager of any property, assets or undertaking of the Borrower is appointed;

(f)any execution, sequestration or other process of any kind becomes enforceable against the Borrower, or a distress or analogous process is levied upon any property or asset of the Borrower;

(g)the Borrower defaults in or under any obligation or agreement, other than this Note, which requires payment by the Borrower of any amount in excess of Fifty Thousand Dollars in the lawful money of the United States of America (US$50,000);

(h)the holder of any encumbrance against any property or asset of the Borrower does anything to enforce or realize on such encumbrance;

(i)the Borrower permits any sum which has been admitted as due and payable by it, or which is not disputed to be due and payable by it, to remain unpaid for 90 days after legal proceedings have been taken to compel payment thereof;

(j)the Borrower loses its certificate of incorporation by expropriation, forfeiture or otherwise; or

(k)the Lender in good faith believes, and has commercially reasonable grounds to believe, that the prospect of payment or performance of any of the obligations of the Borrower is impaired.

13.The Lender may, at any time after the security hereby constituted becomes enforceable, and while such money remains unpaid, take any action permitted by law or in equity as it may deem expedient.

14.Any notice required or permitted to be given to any of the parties to this Note will be in writing and may be given by prepaid registered mail, electronic facsimile transmission or other means of electronic communication capable of producing a printed copy to the address of such party first above stated or such other address as any party may specify by notice in writing to the other party, and any such notice will be deemed to have been given and received by the party to whom it was addressed if mailed, on the third day following the mailing thereof, if by facsimile or other electronic communication, on successful transmission, or, if delivered, on delivery; but if at the time of mailing or between the time of mailing and the third business day thereafter there is a strike, lockout, or other labour disturbance affecting postal service, then the notice will not be effectively given until actually delivered.

15.This Note shall be governed by and construed in accordance with the laws of the State of Washington and the laws of the United States of America applicable therein. 

IN WITNESS WHEREOF the Borrower has made this Note as at date first above written.

	
ROLLTECH, INC.

Per:

/s/ Taly Keren

Authorized Signatory
	
 

 

	
EXECUTED BY DR. MICHAEL SCHEGLOV in the presence of:

/s/ Jim Stanley

Signature

Jim Stanley

Print Name

4320 196th SW #B141

Address

Lynnwood, WA 98036

Chief Operating Officer

Occupation
	
)

)

)

)

)

)

)

)

)

)

)

)

)
	
ACCEPTED AND SIGNED BY THE LENDER:

/s/ Dr. Michael Scheglov

DR. MICHAEL SCHEGLOV

GRID OF LOANS AND PAYMENTS

	

Date
	
Amount of

Advance
	
Amount of

Principal

Payment
	
Unpaid Principal

Balance
	
Entry

Made By

	
February 28, 2002
	
US$ 5,000.00
	
 
	
 
	
 

	
March 11, 2002
	
US$ 5,000.00
	
 
	
 
	
 

	
April 15, 2002
	
US$40,000.00

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00039-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00039-of-00352.parquet"}]]