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South Korea, Gyungi-do, Icheon, Hobeop-myun, 128-4 Maegok-ri Lease - Jijun Co. and Enerland Co. Ltd.

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  • Commercial Lease. Start a state-specific lease for the rental of commercial property. Specify the term and rent due, as well as whether the landlord or tenant is responsible for property taxes, insurance, and maintenance and repairs.
  • Commercial Sublease. When a tenant vacates commercial property before the lease term has expired, it may be able to rent the premises to a third party. The tenant would be the sublessor and the third party would be the sublessee. Besides preparing a sublease, both parties will want to review the provisions for assignment or subletting in the original lease agreement between the landlord and the sublessor.
  • Sublease Agreement. Tenants of residential property should prepare a sublease agreement if they are seeking to sublease a room or the entire apartment or house to a third party. All parties should review the original lease agreement to see if there are any restrictions on subletting or assigning the premises.
  • Triple Net Lease. Triple net leases are a type of commercial leases where the tenant has to pay for property taxes, insurance, utilities, and maintenance, in addition to the monthly rent.
  • Office Space Lease. When renting an office space, tenants should understand the amount of the rent and duration of the lease. Other important terms include whether the space can be subleased, which parties are responsible for maintenance, and whether any furniture and furnishings will be provided.

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Real Estate [Building] Lease Agreement


September 15, 2008


Lessor: Jijun Company


Lessee: Enerland Co., Ltd.


October 21, 2008



Lease Agreement


This Lease Agreement shall be made and entered into between Lessor, Jijun Company ("Lessor", hereinafter) and Lessee, Enerland Co., Ltd. ("Lessee" hereinafter) with the following conditions.




The object property "Lessor" leases to "Lessee" (the "Leased Premises", hereinafter) are shown as follows and its details and location are as indicated in the description of the area used and drawings in the addendum.

Building: Factory building located in 128-4, Maegok-ri, Hobeop-myun, Icheon city, Gyunggi-do.

4,537 m2 (461 pyung) in total, Building Area = 1,149.45 m2,

Total Floor Area = 2194.65 m2




1.               The Lease Term for the building of said Leased Premises of Section 1 shall last for 3 years from September 15, 2008 to September 15, 2011. In the event of a continuous use of the leased building, further discussions shall be made in the future.

2.               In the event that the premises are sold to a third party, "Lessee" shall abide by the decision on the use of the premises by the Purchaser providing "Lessor" give written notice to "Lessee" two months prior to the termination date of this Agreement. In such an event, "Lessee" shall not be able to protest on the grounds of the Lease Term, and "Lessee" shall comply with the planned decision on the use by the Purchaser without objections (including civil and criminal liabilities).




1.               There is no security deposit payable and the Rent shall be made payable in the amount of twelve million (W 12,000,000).

2.               The rental amount of Paragraph 1 of this Section shall be deposited into a bank account designated by "Lessor" by the 15th day of the following month. If the payment date falls into a holiday, the payment shall be due the following day. However, in the event that the period from the signing of this agreement to the first payment date of the monthly rent that comes around and the lease period of the last month are less than one month, daily calculated rates shall be applied to the payment for these periods.


3.              If the payment due date of Paragraph 2 of this Section is passed over, "Lessee" shall pay interest on the arrear amount with the average arrear interest of a commercial bank for a regular loan applied.



* VAT included W 13,500,000




"Lessee" shall be responsible for all maintenance fees.




Monthly rental amount and value added tax levied upon maintenance fees in pursuant to this Agreement shall be payable by "Lessee".






1.               The monthly rental amount of Paragraph 1 of Section 3 shall be adjusted every year.

2.               In the case of each of the following subparagraphs below, both companies may adjust the rent amount by written notice made 30 days prior to such an event.

(1) If it is necessary to change the existing rental amount due to fluctuations of real estate value (Land price, taxable standard price and market rate etc).

(2) If changes are made in tax and dues or quasi-tax that are imposed upon the Leased Premises.

(3) If it is deemed necessary to adjust the rental amount according to economic conditions such as changes in the price of commodities.

(4) If there are changes in the Leased Premises or in the area measurement,




In the event that "Lessee" uses facilities of "Lessor", "Lessee" may do so by entering into a separate agreement between "Lessor" and "Lessee".




"Lessee" may not transfer its rights and obligations in pursuant to this Agreement to a third party or sublease all or any portion of the Leased Premises to be used by the third party.




"Lessor" shall not be liable for any accident or loss sustained within the Leased Premises and "Lessee" shall take responsibility and exercise appropriate safety and maintenance measures.




1.               "Lessee", at "Lessee's expense, may make necessary modifications as described in each of the following subparagraphs below to the Lease Premises by obtaining a prior written consent of "Lessor".

(1)          Installation and change of Lay-Out necessary for conducting business such as installation of partitions or placement of light fixtures,

(2)          Utilities services such as lights, power, telecommunication, air supply or vent and gas,

2.               "Lessee" shall not claim for reimbursement of general expenses or costs of purchase of accessorial equipment incurred by the previous paragraph.

3.               During the Lease Term, "Lessee" shall preserve, use and receive benefit from the Leased Premises fulfilling the obligation of good governance, and comply with relevant laws when making changes in the Leased Premises. "Lessee" shall be held entirely responsible for changes made to the Leased Premises without observing relevant laws and regulations,




1.               "Lessor" shall take responsibility for maintaining the objects initially designated (Structural portions, fire prevention section, roof waterproofing, and external) and in the event that these objects require repairs such as wear and tear, fading, and failure to operate normally, such repairs shall be performed at the expense of "Lessor".

2.               Except for cases described in the previous paragraph, when repairs are performed by the necessity of "Lessee" at the expense of "Lessee", there shall be discussions with "Lessor" and "Lessee" shall not claim for reimbursement of overall expenses borne By "Lessee".






1.               In the event that "Lessee", its trade partners and visitors including its employees and suppliers cause damage to the Leased Premises and other assets of "Lessor", "Lessee" shall immediately notify such damage to "Lessor" and provide reparation for related damage.

2.               Even in the case where a third party causes damage to the Leased Premises as described in the previous paragraph, if "Lessee" fails to notify "Lessor", such damage shall be deemed incurred by actions of "Lessee".

3.               As to the damage amount of each previous paragraph, "Lessor's calculation based on the market price as of the time of the reparation shall be followed.




1.               In the event that "Lessee" commits action as described in each of the following subparagraphs, "Lessor" may immediately terminate this agreement without notification.

(1)          If default shall be made by "Lessee" for its overall payment obligation including the established rental amount for longer than 2 months.

(2)          If "Lessee" shall go under bankrupt or become insolvent or an application shall be filed for corporate reorganization against "Lessee".

(3)          If actions of "Lessee" incur damage to "Lessor", or "Lessor" believes it is necessary to terminate the Agreement from its business perspective.

(4)          If actions that do not comply with or contradict the regulations or matters for observance shall be committed.

(5)          If other actions that infringe upon this Agreement shall be committed.

2.               In the case of the previous paragraph, "Lessor" may at any time terminate this Agreement and have the Leased Premises vacated. The fact that Security Deposit is entrusted with "Lessor" shall not give "Lessee" any reason or ground for rejecting the return of the Leased Premises.
[2 illegible seals]




This Agreement shall expire on the grounds of each of the following subparagraphs.

1.               If the Term of the Lease expires.

2.               If this Agreement shall be terminated or cancelled on the grounds of each paragraph of this Agreement.




1.               "Lessor" shall not be held liable for damage or inconveniences suffered by "Lessee" due to reasons that cannot be imputed to "Lessor" such as natural disaster, war,   violence and Force Majeure events.

2.               Even when there are causes of Force Majeure, the fulfillment period for payment obligations of "Lessee" already generated by this Agreement shall not be extended.




"Lessor" and "Lessee" may modify or revise the paragraphs of this Agreement through mutual discussions even before the expiration of the Term of the Lease when reasonable and inevitable reasons shall be presented.




Questions and disagreements as to each paragraph of this Agreement or all disputes that arise with relation to this Agreement shall be resolved through mutual discussions of both parties and the jurisdiction where the main office of "Lessor" is located shall oversee litigations for all disputes.






1.               Proper management of the Leased Premises shall be handled by "Lessee".

2.               The selection of a manager for legal permissions and authorizations accompanying the operation of "Lessee's business and related work activities shall be performed by "Lessee".


In order to verify the signing of this Agreement, 2 copies of the Agreement shall be made and the Lessor and the Lessee shall sign and retain each copy respectively.


September 15, 2009


Lessor:  Hanyang Apt 5-608, 32-5 Banpo-dong, Seocho-gu, Seoul

Jijun Company

CEO Seon Kyung Lee [Seal]


Lessee: 254-1 Maegok-ri, Hobeop-myun, Icheon city, Gyunggi-do

Enerland Co., Ltd

CEO Hwan Jin Noh [Seal]