Document:

vrcv_ex10-22.htm

Exhibit 10.22

 

LEASE AGREEMENT

THIS AGREEMENT is made on October 7, 2011 between JJR Ringling Enterprise, LLC, (hereinafter referred to as “Lessor”), and, Varca Ventures, Inc., A Nevada Corporation (hereinafter referred to as “Lessee”).

RECITALS:

	
  

	
A.

	
Lessor is the owner of an office building in Sarasota, Florida.

	
  

	
B.

	
Lessee wishes to lease 2nd Floor office space from Lessor under the terms and conditions of this instrument.

	
  

	
C.

	
The parties wish to set forth their agreement in writing.

THEREFORE, for good and valuable consideration, it is agreed as follows:

	
  

	
1.

	
Description of Property.  The leased premises are described as: 2 offices, hall way and kitchen for a total of 550 sq. ft.

	
  

	
2.

	
Term.  This Lease shall be for a term commencing on October 7, 2011 and ending on March 31, 2012.

	
  

	
3.

	
Base Rent.  Lessee shall pay to Lessor, as rent for the Leased Premises $1,000/mo (sales tax included) starting on October 1, 2011.

Base rent:     934.58

Sales tax:        65.42

Total rent:  1,000.00

	
  

	
4.

	
Rental Sales Tax.  Lessee shall pay any sales tax on rentals during the terms of this Lease with each monthly rental payment.  The tax is presently 7%.

	
  

	
5.

	
Security Deposit.  No security deposit required.

	
  

	
6.

	
Taxes and Assessments.  Lessor shall pay for all real estate taxes and assessments imposed on the leased premises, and shall also pay for all maintenance charges imposed on or associated with the leased premises.

	
  

	
7.

	
Maintenance, Care and Repair.  Lessee accepts the premises in the condition they are in when taking possession, and agrees to maintain the premises in the same general condition, order and repair as they are in at the commencement of the term of this Lease, excepting only reasonable wear from the use of the premises.  Lessee shall be responsible for replacing light bulbs, fluorescent lights and ballast’s as needed.   All other normal repairs shall be made by Lessor.  However, all repairs or replacements caused by any act or omission of Lessee or any guest, invitee or licensee of Lessee shall be promptly made by Lessee at his expense.

 

 

  

  

  

	
  

	
8.

	
Utilities.  Lessor shall pay for all utilities including: water/sewer, electric, cable and internet connection.  Lessee shall pay for all other utilities charged to or associated with the leased premises and utility connection fees and costs.   Lessee shall provide fire extinguishers if required by law, and shall keep them charged at its expense.

	
  

	
9.

	
Improvements and Alterations.  Lessee shall make no improvements or alterations to the leased premises without the written consent of Lessor.  Any improvements or alterations shall belong to Lessor.

	
  

	
10.

	
Indemnity.  Lessee hereby covenants and agrees to hold Lessor harmless from all claims, damages, suits or causes of action resulting from injury to persons or property and arising thereon out of the use, occupancy or condition of the leased premises during the term of this Lease unless any such injury is due to negligence of Lessor.

	
  

	
11.

	
Use of Premises.  The premises shall be used only for a business or professional office.  Lessee shall pay for any signs.

	
  

	
12.

	
Signage.  With approval from Lessor, Tenant may have signs posted in the windows of the leased premises and above the entrance door to the Premises.

	
  

	
13.

	
Assignment and Subletting.  Lessee shall have the right to assign this Lease or sublet the premises with the prior written consent of the Lease, which shall not be unreasonably withheld.

	
  

	
14.

	
Default and Breach.  In addition to any remedies provided by law, any party breaching this Lease shall be responsible for the payment of all costs and expenses, including attorney’s fees, reasonably incurred by the other party in enforcing the Lease, which term shall encompass collecting delinquent rental payments,  In the event that any rent payment is due and owing for a period of more than ten (10) days after the due date, Lessor shall have the right to accelerate the balance of any lease payments without waiving any remedies otherwise available.  Lessee shall pay a late payment fee of 5% of the applicable lease payment if any rent payment is due and owing for a period of more than ten (10) days after the due date.

	
  

	
15.

	
Liability Insurance.  Lessor shall maintain liability insurance for at least $1,000,000 for bodily injury and $50,000 for property damage and shall have the policy name Lessor as an insured party as their interest may appear.  A copy of the policy or a certificate of insurance shall be furnished to Lessor.

	
  

	
16.

	
Place of Notice and Payment.  Any notices to Lessee shall be sent to the leased premises.  Any notices and all rent payments to be given to Lessor shall be sent to 5652 Eastwind Drive, Sarasota, FL 34233.  Notices or payments shall be deemed received when actually delivered, or three (3) days after they are postmarked if placed in the U.S. Mail, properly addressed, with postage prepaid.

 

 

  

  

  

	
  

	
17.

	
Interest.  Lessor, at his option, may charge interest at the highest rate permitted by law on all unpaid installments of rent as well as other unpaid obligations of Lessee.

	
  

	
18.

	
Compliance with Laws, Regulations and Restrictions.  Lessee shall comply with all governmental laws and regulations and regulations governing the use and occupancy of the property.

	
  

	
19.

	
Inspection.  Lessee grants to Lessor the right to inspect the leased premises at any reasonable time upon reasonable notice by Lessor to Lessee.

	
  

	
20.

	
Advertising.  Within sixty (60) days from the expiration of the term of this Lease, Lessor shall have the right to advertise that the premises shall be available for rent or sale, to place a sign on the property advertising this fat, and to show the leased premises to prospective Lessees at reasonable times upon reasonable notice by Lessor to Lessee.

	
  

	
21.

	
State of Repair.  Lessee acknowledges that the premises are in good condition and fixtures are in good working order.  When the premises are vacated, Lessee shall promptly, at his expense, remove all of its property, repair any damage as necessary to restore the premises to their condition at the time of taking occupancy, and have the carpet professionally cleaned.  Landlord shall deliver the Premises in good condition, new paint and carpeting, and fixtures in good working order, prior to Tenant’s occupancy.

	
  

	
22.

	
Destruction and Insurance.  If the premises are damaged or destroyed by fire or other casualty so as to render all or part of the premises unleaseable, the rent shall abate in proportion to the portion of the leased premises rendered unleaseable.  However, there shall be no abatement if the fire or other casualty is caused by Lessee’s intentional act.  If the premises cannot be repaired or restored with like materials and like workmanship within ninety (90) days, either party may terminate this Lease.  Lessee shall have no claim against any insurance proceeds from any fire or casualty insurance.  Lessor shall not be responsible for damage to any personal property of Lessee.

	
  

	
23.

	
Severability.  If any portion of this Lease is declared to be void or unenforceable by a court of competent jurisdiction, this shall not affect the validity or enforceability of any other portion of this Lease.

	
  

	
24.

	
Subordination.  Lessee’s interest under this Lease and in the leased premises shall be subordinate to the lien and interest of any present or future mortgage lender.  Lessee shall sign any documents that may be required by a mortgage lender to further evidence this subordination.  Lessee shall also sign any Lessee estoppel letters required.  All such documents shall be signed and delivered to Lessor within seven (7) days from the date they are given to Lessee.

 

 

  

  

  

	
  

	
25.

	
Miscellaneous.  This Lease constitutes the entire agreement between the parties, and may be cancelled or amended only by an instrument in writing signed by all parties to it.  This Lease shall inure to the benefit of and be binding upon the parties and their legal representatives, heirs, successors, and assigns.  Any waiver or consent of Lessor of any one instance shall not be deemed a waiver or consent of r any future act or omission by Lessee.  If there is more than one Lessee, their liability under this Lease shall be joint and several.  All keys to the premises shall be returned to Lessor at the termination of the lease term.  Time is of the essence for all obligations to be performed by Lessee, including the prompt payment of rent.  Where required, the plural shall include the singular, the singular the plural, and any gender shall include all genders.  Paragraph captions are for convenience only and shall not be used in interpreting this Lease.  Which party prepared or was responsible for the preparation of this Lease shall have no bearing on its construction or interpretation.

IN WITNESS of this Agreement, the parties have executed it on the day and year first mentioned above.

	
WITNESSES:

	
“LESSOR”

	  	  
	
/s/ Torii K. Goar

	
BY: /s/ David Rosenberg

	  	  
	
/s/ Kim Rossi

	
AS ITS: Managing Member

	  	  
	  	  
	  	
“LESSEE”

	  	  
	
/s/ Torii K. Goar

	
BY: /s/ Randall Oser

	  	  
	
/s/ Kim Rossi

	
AS ITS: President

 

 

 

  

  

  

GUARANTY OF PERFORMANCE

For valuable consideration, the undersigned irrevocably and unconditionally guaranties to Landlord the full, faithful and punctual performance by Tenant of all of Tenant's covenants and agreements contained in this Lease, or any extensions or renewals thereof, and agree that any extensions, postponements, either of payment or enforcement, waivers, releases of any rights against any party, or releases of any security' shall not affect the undersigned's absolute and unconditional liability hereunder. Demand, notice of default or of nonpayment, and all suretyship defenses whatsoever are hereby waived.

Dated, signed, sealed, and delivered this _______ day of ____________________, 2002.

WITNESSES:

	
_______________________________

	
_________________________________

	  	
______________, an Individual

	  	
_________________________________

	  	
Social Security Numbervrcv_ex10-23.htm

Exhibit 10.23

 

 

 

 

STOCKPILE ROYALTY AGREEMENT

 

THIS STOCKPILE ROYALTY AGREEMENT (this “Agreement”) is made and entered into as of October 7, 2011 (“Effective Date”) by and between WILDCAT MINING CORPORATION, a Nevada corporation (“Wildcat”) and certain investors in Wildcat, each of whose name is set forth in Schedule 1 attached hereto (each an “Investor” and collectively, the “Investors”).

 

R E C I T A L S:

 

WHEREAS, Investors have purchased a total of 2,500,002 shares of Wildcat’s common stock in connection with the private offering of common stock by Wildcat, dated October 7, 2011 (the “Offering”); and

 

WHEREAS, as part of the Offering, Investors are entitled to receive a royalty on the ore that has been mined and is stockpiled on Wildcat’s Property (as defined below) upon the terms and conditions set forth herein.

 

NOW, THEREFORE, for the reasons set forth hereinabove, and in consideration of the mutual covenants and promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.           Definitions.  The following terms shall have the meanings set forth below unless the context otherwise requires:

 

(a)           “Subject Minerals” means approximately 8,000 cubic yards of ore stockpiled above ground and located on the Property as of the Effective Date.

 

(b)           “Production Royalty” means the royalty payable to Investors on the Subject Minerals as calculated in Section 2 below.

 

(c)           “Property” means the real property owned or leased by Wildcat and located in the California Mining District, La-Plata County, Colorado.

 

2.           Production Royalty.  The Production Royalty payable with respect to the Subject Minerals from the Property shall be determined and calculated as follows:

 

(a)           Whether Wildcat elects to sell the Subject Minerals in raw form, before any processing or beneficiation, or elects to process the Subject Minerals through a smelter or other processing facility, the Production Royalty shall be equal to three (3%) of the “net proceeds” received by Wildcat from the purchaser, smelter or other processing facility.  As used herein, “net proceeds” shall mean the gross amount received from the purchaser, smelter or other processing facility less deductions for: (i) actual transportation costs from the Property to the point of sale, smelter; or other processing facility; (ii) if applicable, actual smelting or other processing costs (to the extent the smelter or other processor has not already deducted them before making payment); and (iii) penalties and sampling or assaying costs imposed by the purchaser, smelter or other processing facility. No deductions shall be made for mining costs.

 

 

  

  

  

 

(b)           If any sale of the Subject Minerals on which the Production Royalty is payable hereunder is not made in a bona fide, arms’ length transaction with an independent third party, the fair market value of the Subject Minerals sold shall be used for the purposes of determining the Production Royalty payable to Investors.

 

(c)           The Production Royalty payments shall accrue monthly at the end of each month, and shall become due and payable monthly on the 15th day of the following month.  The Production Royalty shall be paid pro-rata to Investors based on the number of shares acquired in the Offering as set forth in Schedule 1 attached hereto.

 

(d)           The Production Royalty payments shall be accompanied by a settlement sheet showing in reasonable detail the quantities and grades of the Subject Minerals processed for the preceding month, the proceeds of sale, costs and other deductions, and other pertinent information in sufficient detail to explain the calculation of the Production Royalty payments, including data pertaining to the weighing, sampling, and assaying of the Subject Minerals for the calculation of the Production Royalty due hereunder.

 

3.           Nature of Interest.  The parties hereto agree that the Production Royalty interests do not provide Investors with the privilege or power to enter onto the Property, nor the right to sell or remove any of the Subject Minerals from the Property, nor any right to seek partition of the mineral estate in the Property.  Further, the parties hereto agree that the Production Royalty interests conveyed hereby shall be cost-free, and Wildcat agrees to pay all costs, expenses, and taxes (including severance taxes) on production.  Investors shall be liable for and pay all income taxes on money paid to them.

 

4.           Entire Agreement; Amendment.  This Agreement contains the entire understanding and agreement of the parties with respect to the matters covered hereby and, except as specifically set forth herein, neither Wildcat nor Investors make any representation, warranty, covenant or undertaking with respect to such matters, and they supersede all prior understandings and agreements with respect to said subject matter, all of which are merged herein.  No provision of this Agreement may be waived or amended other than by a written instrument signed by Wildcat and Investors.

 

5.           Waivers.  No waiver by any party of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right accruing to it thereafter.

 

6.           Headings.  The headings in this Agreement are for convenience only and shall not constitute a part of this Agreement for any other purpose and shall not be deemed to limit or affect any of the provisions hereof.

 

7.           Governing Law; Jurisdiction.  This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada applied to contracts to be performed wholly within the State of Nevada, without regard to conflicts of laws principles.  Wildcat and Investors hereby agree that any action, proceeding or claim against it arising out of, or relating in any way to, this Agreement shall be brought and enforced in the courts of the State of Nevada or of the United States of America in Nevada, and irrevocably submit to such jurisdiction, which jurisdiction shall be exclusive.  Wildcat and Investors hereby irrevocably waive any objection to such exclusive jurisdiction or inconvenient forum and also hereby irrevocably waive any right or claim to trial by jury in connection with any such action, proceeding or claim.  Wildcat and Investors hereby agree that the prevailing party in any suit, action or proceeding arising out of or relating to this Agreement shall be entitled to reimbursement for reasonable legal fees from the non-prevailing party.

 

 

  

2

  

 

8.           WAIVER OF JURY TRIAL.  WILDCAT AND INVESTORS HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT THEY MAY HAVE TO TRIAL BY JURY IN RESPECT TO ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT AND ANY AGREEMENT CONTEMPLATED TO BE EXECUTED IN CONJUNCTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF EITHER PARTY.  INVESTORS EACH ACKNOWLEDGES THAT THIS WAIVER OF JURY TRIAL IS A MATERIAL INDUCEMENT TO WILDCAT ENTERING INTO THIS AGREEMENT, THAT WILDCAT WOULD NOT HAVE ENTERED INTO THIS AGREEMENT WITHOUT THIS JURY TRIAL WAIVER, AND THAT INVESTOR HAS HAD AN OPPORTUNITY TO CONSULT WITH AN ATTORNEY IN CONNECTION WITH THIS JURY TRIAL WAIVER AND UNDERSTANDS THE LEGAL EFFECT OF THIS WAIVER.

 

9.           Counterparts.  This Agreement may be executed in any number of counterparts, each of which will be deemed an original, and all of which together will constitute one and the same instrument.  Signatures delivered by facsimile transmission or by e-mail delivery of a ".pdf" format data file, will be given the same legal force and effect as original signatures.

 

10.           Severability.  The provisions of this Agreement are severable and, in the event that any court of competent jurisdiction shall determine that any one or more of the provisions or part of the provisions contained in this Agreement shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision or part of a provision of this Agreement and this Agreement shall be reformed and construed as if such invalid or illegal or unenforceable provision, or part of such provision, had never been contained herein, so that such provisions would be valid, legal and enforceable to the maximum extent possible.

 

 

 

 

 

[Signatures begin on next page.]

 

 

  

3

  

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

	  	
WILDCAT MINING CORPORATION

a Nevada corporation

 

 

By:  /s/ Roger Tichenor

      Roger Tichenor

      Chief Executive Officer

	  	  
	
   /s/ Dominick Viesta

	
   /s/ Brian Walsh

	
Dominick Viesta

	
Brian Walsh, as president of BJI Financial Group, Inc.

	  	  
	
   /s/ Dana Kaban

	
   /s/ Stan G. Horowitz

	
Dana Kaban

	
Stan G. Horowitz

	  	  
	
   /s/ Louis Schiliro

	
   /s/ Lawrence Berkeley

	
Louis Schiliro

	
Lawrence Berkeley

	  	  
	
   /s/ Philip Berkeley

	
   /s/ Jonathon Tanzman

	
Philip Berkeley

	
Jonathon Tanzman

	  	  
	
   /s/ Robert Callaghan

	
   /s/ Harold L. Libby

	
Robert Callaghan

	
Harold L. Libby

	
STANLEY B. KANE REVOCABLE TRUST

 

 

By:    /s/ Stanley B. Kane

Stanley B. Kane, as its trustee

	
CARL S. CANNOVA LLC REV. TRUST

 

 

By:   /s/ Carl S. Cannova

     Carl S. Cannova, as its Trustee

	  	  
	
   /s/ Steve Guarino

	
   /s/ Kathleen Guarino

	
Steve Guarino

	
Kathleen Guarino

	  	  
	
   /s/ Marc Rock

	
   /s/ Jared Kaban

	
Marc Rock

	
Jared Kaban

 

 

 

  

4

  

SCHEDULE 1

	
Stan G. Horowitz

	
166,667

	
Philip Berkeley

	
166,667

	
Lawrence Berkeley

	
100,000

	
Harold Libby

	
333,333

	
Carl S. Cannova LLC Revocable Trust

	
166,667

	
Louis Schiliro

	
166,667

	
Stanely B. Kane Revocable Trust

	
166,667

	
Robert Callaghan

	
100,000

	
Jonathan Tanzman

	
100,000

	
BJI Financial Group Inc.

	
100,000

	
Jared Kaban

	
116,667

	
Marc Rock

	
116,667

	
Dominick Viesta

	
100,000

	
Dana Kaban

	
100,000

	
Steve & Kathleen Guarino JTWROS

	
500,000

	  	  
	
Total Shares

	
2,500,002

 

 

 

 

 

  

5

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