Document:

ex_110328.htm

Exhibit 10.1

 

COMMERCIAL LEASE AGREEMENT

 

THIS LEASE (this “Lease”) dated this 1st day of January 1, 2017.

 

BETWEEN:

 

JAMAAL SHABAN

an individual residing in the

Town of Lakeshore

 

OF THE FIRST PART

(herein the “Landlord”)

 

And

 

CEN BIOTECH INC.

a corporation duly incorporated pursuant

to the laws of Canada

 

OF THE SECOND PART

(herein the “Tenant”)

 

IN CONSIDERATION OF the Landlord leasing certain premises to the Tenant, the Tenant leasing those premises from the Landlord and the mutual benefits and obligations set forth in this Lease, the receipt and sufficiency of which consideration is hereby acknowledged, the Parties to this Lease (the “Parties”) agree as follows:

 

	
			1.

				
			Definitions

			

 

When used in this Lease, the following expressions will have the meanings indicated:

 

	 	
			a.

				
			“Additional Rent” means all amounts payable by the Tenant under this Lease except Base Rent, whether or not specifically designated as Additional Rent elsewhere in this Lease;

			

 

	 	
			b.

				
			“Building” means the first large commercial building, built on the property and known as Building One, save and except the Solar Project, located at 20 North Rear Road, Lakeshore, Ontario as outlined in Schedule “A”;

			

 

	 	
			c.

				
			“Common Areas and Facilities” mean:

			

 

 

 

 

	 	
			i.

				
			those portions of the Building areas, buildings, improvements, facilities, utilities, equipment and installations in or forming part of the Building which from time to time are not designated or intended by the Landlord to be leased to tenants of the Building including, without limitation, exterior weather walls, roofs, entrances and exits, parking areas, driveways, loading docks and area, storage, mechanical and electrical rooms, areas above and below leasable premises and not included within leasable premises, security and alarm equipment, grassed and landscaped areas, retaining walls and maintenance, cleaning and operating equipment serving the Building; and

			

 

	 	
			ii.

				
			those lands, areas, buildings, improvements, facilities. utilities, equipment and installations which serve or are for the useful benefit of the Building, the tenants of the Building or the Landlord and those having business with them, whether or not located within, adjacent to or near the Building and which are designated from time to time by the Landlord as part of the Common .Areas and Facilities;

			

 

	 	
			d.

				
			“Leasable Area” means with respect to any rentable premises, the area expressed in square feet of all floor space including floor space of mezzanines, if any, determined, calculated and certified by the Landlord and measured from the exterior face of all exterior walls, doors and windows, including walls, doors and windows separating the rentable premises from enclosed Common Areas and Facilities, if any, and from the centre line of all interior walls separating the rentable premises from adjoining rentable premises. There will he no deduction or exclusion for any space occupied by or used for columns, ducts or other structural elements;

			

 

	 	
			e.

				
			“Premises— means the first large commercial building built on the property and known as Building One, save and except the Solar Project, together with an easement to access the leased property, located at 20 North Rear Road, Lakeshore, Ontario;

			

 

	 	
			f.

				
			“Rent” means the total of Base Rent and Additional Rent.

			

 

	
			2.

				
			Intent of Lease

			

 

It is the intent of this Lease and agreed to by the Parties to this Lease that rent for this Lease will be on a gross rent basis meaning the Tenant will pay the Base Rent and any Additional Rent and the Landlord will be responsible for all other service charges related to the Premises and the operation of the Building save as specifically provided in this Lease to the contrary. The Tenant is responsible for utilities.

 

	
			3.

				
			Leased Premises

			

 

The Landlord agrees to rent to the Tenant the said building and premises municipally described as 20 North Rear Road, Lakeshore, Ontario known as Building One (the “Premises”) save and except the Solar Project. The Premises are more particularly described in Schedule “A”. The Tenant’s purposes, which at all times shall be in accordance with the Law.

 

2

 

 

	
			4.

				
			Term

			

 

The term of the Lease is a periodic tenancy commencing at 12:00 noon on January 1st, 2017 for a term of five (5) years.

 

	
			5.

				
			Rent

			

 

Subject to the provisions of this Lease, the Tenant will pay a base rent of FOUR THOUSAND ($4,000.00) DOLLARS per month, payable monthly, for the Premises (the “Base Rent”).

 

	
			6.

				
			The Tenant will pay the Base Rent on or before the First of each and every month of the term of this Lease to the Landlord.

			

 

	
			7.

				
			Use and Occupation

			

 

The Tenant will use and occupy the Premises only for the Permitted Use and for no other purpose whatsoever. The Tenant covenants that the Tenant will carry on and conduct its business from time to time carried on upon the Premises in such manner as to comply with all statutes, bylaws, rules and regulations of any federal, provincial, municipal or other competent authority and will not do anything on or in the Premises in contravention of any of them.

 

	
			8.

				
			Option to Lease

			

 

During the term of the Lease, the Tenant shall have an option to lease such additional property as it may need for future use, on terms and conditions to be negotiated by the Parties in good faith.

 

	
			9.

				
			Option to Purchase

			

 

Subject only to prior right of first refusal granted to Sylvestre, in the event the Landlord is presented with an acceptable Agreement of Purchase and Sale, the Tenant shall be given right to purchase on same terms and conditions as therein contained. The Tenant shall have a period of 3 days to give notice in writing of its intent to purchase failing which Landlord may complete sale in accordance therewith.

 

	
			10.

				
			Remedies

			

 

Upon the occurrence of any Event of Default, the Landlord has any or all of the following remedies:

 

	 	
			a.

				
			Terminate the Lease in accordance with relevant legislation and the Term will then immediately become forfeited and void.

			

 

	 	
			b.

				
			The Landlord may, but is not obligated to, perform on behalf of the Tenant, any obligation of this Lease which the Tenant has failed to perform. The Landlord may seek redress from the Tenant for such performance.

			

 

3

 

 

	 	
			c.

				
			The Landlord may re-enter the Leased Premises or any part of the Leased Premises and in the name of the whole repossess and enjoy the same as of its former state anything contained with the Leased Premises.

			

 

	 	
			d.

				
			Any other remedy provided in the Lease or the relevant legislation.

			

 

	
			11.

				
			Quiet Enjoyment

			

 

The Landlord covenants that on paying the Base Rent and performing the covenants contained in this Lease, the Tenant will peacefully and quietly have, hold, and enjoy the Premises for the agreed term.

 

	
			12.

				
			Distress

			

 

If and whenever the Tenant is in default in payment of any money, whether hereby expressly reserved or deemed as rent, or any part of the rent, the Landlord may, without notice or any form of legal process, enter upon the Premises and seize, remove and sell the Tenant’s goods, chattels and equipment from the Premises or seize, remove and sell any goods, chattels and equipment at any place to which the Tenant or any other person may have removed them, in the same manner as if they had remained and been distrained upon the Premises, all notwithstanding any rule of law or equity to the contrary, and the Tenant hereby waives and renounces the benefit of any present or flame statute or law limiting or eliminating the Landlord’s right of distress.

 

If the Tenant continues to occupy the Premises without the written consent of the Landlord at the expiration or other termination of the term, then the Tenant will be a tenant at will and will pay to the Landlord, as liquidated damages and not as rent, an amount equal to twice the Base Rent plus any Additional Rent during the period of such occupancy, accruing from clay to day and adjusted pro rata accordingly. and subject always to all the other provisions of this Lease insofar as they are applicable to a tenancy at will and a tenancy from month to month or from year to year will not be created by implication of law: provided that nothing in this clause contained will preclude the Landlord from taking action for recovery of possession of the Premises.

 

	
			13.

				
			Landlord Improvements

			

 

The Tenant accepts the property in its “as is” condition without any further work, repairs treatments or improvements except that prior to the Tenant taking possession of the Premises, the Landlord shall install lighting and heat satisfactory to the Tenant.

 

	
			14.

				
			Utilities and Other Costs

			

 

The Tenant is responsible for the payment of the following utilities and other charges in relation to the Premises: electricity, natural gas and water.

 

	
			15.

				
			Insurance

			

 

The Parties shall obtain whatever insurance they deem appropriate.

 

4

 

 

Governing Law

 

It is the intention of the Parties to this Lease that the tenancy created by this Lease and the performance under this Lease, and all suits and special proceedings under this Lease, be construed in accordance with and governed, to the exclusion of the law of any other forum, by the laws of the Province of Ontario, without regard to the jurisdiction in which any action or special proceeding may he instituted.

 

	
			16.

				
			Severabilitv

			

 

If there is a conflict between any provision of this Lease and the applicable legislation of the Province of Ontario (the “Ace”), the Act will prevail and such provisions of the Lease will be amended or deleted as necessary in order to comply with the Act. Further, any provisions that are required by the Act are incorporated into this Lease.

 

	
			17.

				
			Additional Provisions

			

 

	
			18.

				
			Care and Use of Premises

			

 

The Tenant will promptly notify the Landlord of any damage, or of any situation that may significantly interfere with the normal use of the Premises or to any furnishings or other property supplied by the Landlord.

 

	
			19.

				
			The Tenant will not make (or allow to be made) any noise or nuisance which, in the reasonable opinion of the Landlord, disturbs the comfort or convenience of other tenants.

			

 

	
			20.

				
			The Tenant will not engage in any illegal trade or activity on or about the Premises.

			

 

	
			21.

				
			The Landlord and Tenant will comply with standards of health, sanitation, fire, housing and safety as required by law.

			

 

	
			22.

				
			Surrender of Premises

			

 

At the expiration of the lease term, the Tenant will quit and surrender the Premises in as good a state and condition as they were at the commencement of this Lease, reasonable use and wear and damages by the elements excepted.

 

	
			23.

				
			Rules and Regulations

			

 

The Tenant will obey all rules and regulations posted by the Landlord regarding the use and care of the Building, parking lot, laundry room and other common facilities that are provided for the use of the Tenant in and around the Building on the Premises.

 

	
			24.

				
			General Provisions

			

 

Any waiver by the Landlord of any failure by the Tenant to perform or observe the provisions of this Lease will not operate as a waiver of the Landlord’s rights under this Lease in respect of any subsequent defaults, breaches or non-performance and will not defeat or affect in any way the Landlord’s rights in respect of any subsequent default or breach.

 

5

 

 

	
			25.

				
			This Lease will extend to and he binding upon and inure to the benefit of the respective heirs, executors, administrators, successors and assigns, as the case may be, of each party to this Lease. All covenants are to he construed as conditions of this Lease.

			

 

	
			26.

				
			All sums payable by the Tenant to the Landlord pursuant to any provision of this Lease will he deemed to he Additional Rent and \yin be recovered by the Landlord as rental arrears.

			

 

IN WITNESS WHEREOF the Parties to this Lease have duly affixed their signatures under hand and seal, or by a duly authorized officer under seal, on this 1st day of January, 2017.

 

	
			/s/ [signed]

				 	
			/s/ Jamaal Shaban

			
	
			(Witness)

				 	
			Jamaal Shaban (Landlord)

			
	 	 	 
	 	 	 
	 	 	 
	 	 	CEN BIOTECH INC. (Tenant)
	 	 	 
	 	 	 
	 	 	Per /s/ Bill Chaaban             (SEAL)
	 	 	 
	 	 	Bill Chaaban, President
	 	 	 
	 	 	I have authority to bind the Corporation

 

 

 

 

 

6ex_110329.htm

Exhibit 10.12

 

 

This Agreement to Lease dated this 1st                                             day of October                             2017      

 

TENANT (Lessee), Cen Biotech, Inc.

(Full legal comes of all Tenants)

 

LANDLORD (Lessor), R&D Labs Canada Inc.

(Full legal name of Landlord)

 

The Tenant hereby offers to lease from the Landlord the premises as described herein on the terms and subject to the conditions as set out in this Agreement.

 

1.           PREMISES: The "Premises" consisting of approximately      3129.30 square feet     

(feet/metres)

more or less on the 1st      floor of the "Building" known municipally as 7405 Tecumseh Rd E., Suite 300     

 

in the City     

 

of Windsor     , Province of Ontario, as shown

 

outlined on the plan attached as Schedule “                                                                     “.

 

2.            USE: The Premises shall be used only for Office Space     

 

3.            TERM OF LEASE:

 

(a) The Lease shall be for a term of 10 years                                                 (120     ) months commencing

 

on the 1st                                                                                                         day of October, 2017               ,                 and terminating

 

on the 30th                       day of September               , 2027     

 

(b) Provided the Tenant is not at any time in default of any covenants within the Lease,

 

the Tenant shall be entitled to renew this Lease for                                        additional term(s) of

 

months (each) on written notice to the Landlord given not less than                          months prior to the expiry of the current term at a rental rate to be negotiated. In the event the Landlord and Tenant can not agree on the fixed minimum rent at least two months prior to expiry of the current lease, the fixed minimum rent for the renewal period shall be determined by arbitration in accordance with the Arbitration Act or any successor or replacement act.

 

4.           RENTAL: Fixed minimum rent: The fixed minimum rent payable by the Tenant for each complete twelvemonth period during the lease term shall be:

 

From 10/1/17      to 09/30/22      inclusive, $31,293.00      per annum being $2607.75      per month, based upon $10      per sq feet     

(feet/metres)

 

From 10/1/22      to 09/30/27      inclusive, $40,680.90      per annum being $3390.08      per month, based upon $13      per sq feet     

(feet/metres)

 

From       to       inclusive, $      per annum being $      per month, based upon $      per sq     

(feet/metres)

 

From       to       inclusive, $      per annum being $      per month, based upon $      per sq     

(feet/metres)

 

From       to       inclusive, $      per annum being $      per month, based upon $      per sq     

(feet/metres)

 

plus HST, and other tax (other than income tax) imposed on the Landlord or the Tenant with respect to rent payable by the Tenant, payable on: (Check one box only)

 

☒     the 1st      day of each month commencing November 1, 2017     

 

☐     the       day of the first month immediately following completion of the Landlord’s Work.

 

 

 

Page 1 of 6

 

 

 

The fixed minimum rent shall be adjusted if the actual measurements of the Leased Premises differ from the approximate area. The actual measurement shall be agreed upon and failing agreement, calculated by an Ontario Land Surveyor/Architect using the current Building Owners And Managers Association standard form of measurement and shall be binding on both parties.

 

INITIALS OF TENANT(S): /S/RB                                       INITIALS OF LANDLORD(S): /S/BC

 

 

 

 

Page 2 of 6

 

 

5.           DEPOSIT AND PREPAID RENT: The Tenant delivers      

(Herewith/Upon acceptance/as otherwise described in this Agreement)

 

by negotiable cheque payable to N/A                                                                                                            "Deposit Holder"

 

in the amount of

 

Canadian dollars (Can$                    ) to be deposited and held in trust as security for the faithful performance by the Tenant of all terms, covenants and conditions of the Agreement and after the earlier of occupancy by the tenant or execution of the Lease to be applied by the Landlord against the            and          month's rent and HST. If the Agreement is not accepted, the deposit is to be returned to the Tenant without interest or deduction. For the purposes of this Agreement, "Upon Acceptance shall mean that the Tenant is required to deliver the deposit to the Deposit Holder within 24 hours of the acceptance of this Agreement. The parties to this Agreement hereby acknowledge that, unless otherwise provided for in this Agreement, the Deposit Holder shall place the deposit in trust in the Deposit Holder's non-interest bearing Real Estate Trust Account and no interest shall be earned, received or paid on the deposit.

 

6.           SERVICES:  (Check one box only)

☒ The Tenant shall pay the cost of hydro, gas, water, heating, air-conditioning and for all other services and utilities as may be provided to the premises. The tenant shall arrange with the local authority for connection of gas, electricity and water in the name of the Tenant.

 

	 	
			☐

				
			The Landlord shall pay the cost of hydro, gas, water, heating, air-conditioning and for all other services and utilities as may be provided to the premises.

			

 

7.           ADDITIONAL RENT AND CHARGES:

 

☒ Check this box if Additional Rent as described below to be paid by Tenant

 

The Tenant shall additionally pay a proportionate share of all costs and expenses incurred by the Landlord in maintaining, operating, cleaning, insuring and repairing the property and, without limiting the generality of the foregoing, such costs and expenses shall include the costs of:

	 	
			(i)

				
			snow, garbage, and trash removal;

			

	 	
			(ii)

				
			landscaping and planters;

			

	 	
			(iii)

				
			heating, ventilating and air-conditioning, and providing hot and cold water and other utilities and services to, and operating the common areas of the property, and maintaining and repairing the machinery and equipment for such utilities and services;

			

	 	
			(iv)

				
			the realty taxes, assessments, rates, charges and duties levied or assessed against the properly (save any tax on the personal income of the Landlord);

			

	 	
			(v)

				
			insuring the property and such other insurance as the Landlord will effect against public liability, property damage, loss of rental income and other casualties and risks.

			

	 	
			(vi)

				
			Snow Removal,

			

	 	
			(viii)

				
			Building maintenance and repair.

			

 

8.           SCHEDULES: The Schedules attached hereto shall form an integral part of this Agreement to Lease and consist of: Schedule(s)     

 

N/A

 

9.           IRREVOCABILITY: This offer shall be irrevocable by                              until                  a.m./p.m. on the                      day

          (Landlord/Tenant)

 

of                           , 20                          , after which time if not accepted, this offer shall be null and void and all monies paid thereon shall be returned to the Tenant without interest or deduction.

 

	
			10.

				
			NOTICES: The Landlord hereby appoints the Listing Brokerage as agent for the Landlord for the purpose of giving and receiving notices pursuant to this Agreement. Where a Brokerage (Tenant's Brokerage) has entered into a representation agreement with the Tenant, the Tenant hereby appoints the Tenant's Brokerage as agent for the purpose of giving and receiving notices pursuant to this Agreement. Where a Brokerage represents both the Landlord and the Tenant (multiple representation), the Brokerage shall not be appointed or authorized to be agent for either the Tenant or the Landlord for the purpose of giving and receiving notices. Any notice relating hereto or provided for herein shall be in writing. In addition to any provision contained herein and in any Schedule hereto, this offer, any counter-offer, notice of acceptance thereof or any notice to be given or received pursuant to this Agreement or any Schedule hereto (any of them, "Document") shall be deemed given and received when delivered personally or hand delivered to the Address for Service provided in the Acknowledgement below, or where a facsimile number or email address is provided herein, when transmitted electronically to that facsimile number or email address, respectively, in which case, the signature(s) of the party (parties) shall be deemed to be original.

			

 

	
			FAX No.:

				
			FAX No.:

			
	
			(For delivery of Documents to Landlord)

				
			(For delivery of Documents to Tenant)

			
	 	 
	
			Email Address:

				
			Email Address:

			
	
			(For delivery of Documents to Landlord)

				
			(For delivery of Documents to Tenant)

			

 

 

INITIALS OF TENANT(S): /s/ RB                                                   INITIALS OF LANDLORD(S):/s/ BC

 

 

 

Page 3 of 6

 

       

	11.	LANDLORD'S AND TENANTS WORK: The Landlord agrees to complete the work described as the "Landlord's Work" in Schedule "              “ attached hereto. The Tenant agrees to complete any additional work necessary to prepare the Premises for the Tenant's use, described as "Tenant's Work" in Schedule "               " attached hereto. The Tenant shall not proceed with any work within or affecting the Premises without the Landlord's prior written approval, which approval shall not be unreasonably withheld.
	 	 
	
			12.

				
			SIGNAGE: The Tenant may, at its own expense, erect signage in a good and workmanlike manner, subject to municipal by-laws and government regulations and subject to the Landlord's written approval as to the design, colour, and content of any such signs, which approval shall not be

			
	 	 
	 	unreasonably withheld, and to be located as follows:

 

	
			13.

				
			INSURANCE: The Tenant agrees to insure the property and operations of the Tenant, including insurance for fire and such additional perils as are normally insured against, liability insurance and any other insurance as may be reasonably required by the Landlord.

			

 

	
			14.

				
			EXECUTION OF LEASE: The Lease shall be prepared by the Landlord at the Landlord's expense, in accordance with the terms and conditions of this Agreement. The Lease will be signed and executed by both parties hereto prior to the commencement of work on the premises by either party and prior to occupancy by the Tenant.

			

 

	
			15.

				
			OCCUPANCY OR RENT TO ABATE: In the event the premises are not completed by the Landlord for occupancy by the Tenant on the date set out herein for commencement of the Term of the Lease, the rent under this agreement shall abate to the extent of such delay, and the Tenant hereby agrees to accept such abatement of rent in full settlement of all claims which the Tenant might otherwise make because the Premises were not ready for occupancy by the said date.

			

 

	
			16.

				
			ASSIGNMENT: This Agreement to Lease shall not be assignable or otherwise transferable by the Tenant. The Tenant may not sublet or assign or transfer its interest in the Lease contemplated herein without securing the written consent from the Landlord, which consent shall not be unreasonably withheld, provided however, if the consent is granted, the Tenant shall remain liable for all obligations under the Lease.

			
	 	 
	 	
			If the Tenant is a corporation, the transfer of the majority of the issued shares in the capital stock, or any transfer, issuance or division of shares of the corporation sufficient to transfer control of the corporation shall be deemed for all purposes to be an assignment within the meaning of this Agreement and any Lease. This provision shall not apply to a corporation whose shares are listed and traded on any recognized public stock exchange in Canada or the United States.

			

 

	
			17.

				
			PARKING: Unless otherwise stipulated, parking, if applicable, shall be in common and unreserved.

			

 

	
			18.

				
			AGREEMENT IN WRITING: If there is any conflict or discrepancy between any provision added to this Agreement (including any Schedule attached hereto) and any provision in the standard pre-set portion hereof, the added provision shall supersede the standard pre-set provision to the extent of such conflict or discrepancy. This Agreement, including any Schedule attached hereto, shall constitute the entire Agreement between Landlord and Tenant. There is no representation, warranty, collateral agreement or condition, which affects this Agreement other than as expressed herein. This Agreement shall be read with all changes of gender or number required by the context.

			

 

	
			19.

				
			LEGAL, ACCOUNTING AND ENVIRONMENTAL ADVICE: The parties acknowledge that any information provided by the broker is not legal, accounting, tax or environmental advice, and that it has been recommended that the parties obtain independent professional advice prior to signing this document.

			

 

INITIALS OF TENANT(S): /s/ RB                                            INITIALS OF LANDLORD(S): /s/ BC

 

 

 

Page 4 of 6

 

 

 

	
			20.

				
			BINDING AGREEMENT: This Agreement and the acceptance thereof shall constitute a binding agreement by the parties to enter into the Lease of the Premises and to abide by the terms and conditions herein contained.

			

 

	
			21.

				
			SUCCESSORS AND ASSIGNS: The heirs, executors, administrators, successors and assigns of the undersigned are bound by the terms herein.

			

 

SIGNED, SEALED AND DELIVERED in the presence of:     IN WITNESS whereof I have hereunto set my hand and seal:

 

	 	
			Cen Biotech, Inc.

				
			

				
			DATE 10/1/17

			
	
			(Witness)

				
			(Tenant or Authorize Representative)

				
			(Seal)

				 
	 	
			/s/ Richard Boswell

				
			

				
			DATE

			
	
			(Witness)

				
			(Tenant or Authorize Representative)

				
			(Seal)

				 
	 	 	
			

				
			DATE

			
	
			(Witness)

				
			(Guarantor)

				
			(Seal)

				 

 

We/I the Landlord hereby accept the above offer, and agree that the commission together with applicable Harmonized Sales Tax land any other lox as may hereafter be applicable) may be deducted from the deposit and Further agree to pay any remaining balance of commission Forthwith.

 

SIGNED, SEALED AND DELIVERED in the presence of:     IN WITNESS whereof have hereunto set my hand and seal:

 

	 	
			R&D Labs Canada Inc.

				
			

				
			DATE 10/1/17

			
	
			(Witness)

				
			(Landlord or Authorized Representative)

				
			(Seal)

				 
	 	
			/s/ [Signed]

				
			

				
			DATE

			
	
			(Witness)

				
			(Landlord or Authorized Representative)

				
			(Seal)

				 

 

CONFIRMATION OF ACCEPTANCE: Notwithstanding anything contained herein to the contrary, I confirm this Agreement with all changes both typed and written was finally accepted by all parties at 10      a.m. this 1st       day of October     , 2017           

(Signature of Landlord or Tenant)

 

INFORMATION ON BROKERAGE(S)

 

	
			Listing Brokerage

			 

				
			Tel. No.

			
	
			Co-op/Buyer Brokerage

			 

				
			Tel. No.

			

 

ACKNOWLEDGEMENT

 

	
			I acknowledge receipt of my signed copy of this accepted Agreement to lease and I authorize the Brokerage to forward a copy to my lawyer.

			 

			R&D Labs Canada Inc                     DATE 10-1-17

			(Landlord)

			 

			/s/ [signed]                                       DATE

			(Landlord)

			 

			Address for Service 888 Old Tecumseh Rd., Lakeshore Canada

			Tel. No.

			Landlord’s Lawyer

			Address

			Email

			 

			Tel. No.                         FAX No.

				 	
			I acknowledge receipt of my signed copy of this accepted Agreement to lease and I authorize the Brokerage to forward a copy to my lawyer.

			 

			Cen Biotech, Inc.                    DATE 10-1-17

			(Tenant)

			 

			/s/ Richard Boswell                 DATE

			(Tenant)

			 

			Address for Service 7405 Tecumseh Rd. E. Suite 300, Windsor Ontario

			Tel. No.

			Tenant’s Lawyer

			Address

			Email

			 

			Tel. No.                 FAX No.

			

 

	
			FOR OFFICE USE ONLY                                                                 COMMISSION TRUST AGREEMENT

			Co-operating Brokerage shown on the foregoing Agreement to Lease:

			In considering for the Co-operating Brokerage procuring the foregoing Agreement to Lease, I hereby declare that all moneys received or receivable by me in connection with the Transaction as contemplated in the MLS Rules and Regulations of my Real Estate Board shall be receivable and held in trust. This agreement shall constitute a Commission Trust Agreement as defined in the MLS Rules and shall be subject to and governed by the MLS Rules pertaining to Commission Trust.

			 

			DATED as of the date and time of the acceptance of the foregoing Agreement to Lease.                      Acknowledged by:

			 

			(Authorized to bind the Listing Brokerage)                                                                                             (Authorized to bind the Co-operating Brokerage)

			

 

 

 

 

 

Page 5 of 6

 

 

 

 

This Schedule is attached to and forms part of the Agreement to Lease between:

 

TENANT (Lessee), CEN Biotech, Inc                                                                                                                                          , and

 

LANDLORD (Lessor), R& D Labs Canada Inc.

 

for the lease of 7405 Tecumseh Rd E, Suite 300 Windsor

 

                                                                                                dated the 1st                       day of October                   , 2017     

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This form must be initialled by all parties to the Agreement to Lease.

 

INITIALS OF TENANT(S):                                                    INITIALS OF LANDLORD(S):

 

 

Page 6 of 6

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