Sample Business Contracts

South Korea-Kyunggi-do-Incheon-Si-JuMul Industrial Complex-KyungSeo-Dong Agreement for Rent - Dong Myung Seo and Liquidmetal Korea 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.
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                               AGREEMENT FOR RENT

Tenee : Dong Myung Seo

Tenant : Liquidmetal Korea Ltd.
         President Sung Taek Hong

This Lease Agreement for Rent ("Agreement") is made and entered into by and
between Mr. Dong Myung Seo ("Lessor") and Liquidmetal Korea, Ltd. a company duly
organized and existing under the laws of Republic of Korea ("Lessee").

NOW, THEREFORE the parties hereby agree as follows;


The purpose of this Agreement is for Lessee to rent the Factory and Land from
Lessor for its operation.

Location : 1Block 2Lot, JuMul Industrial Complex,KyungSeo-Dong, Incheon-Si,
            Kyunggi-Do, Korea

Space : 2,083.87 Square meter (22,430.78 Square foot, 631.47Pyung)
        Lease for only 630Pyung after negotiation


         Lessee shall make payment Key money deposit of 120,000,000won upon the


         Lessee shall make payment at the end of every month for 12,000,000won.


         Lease term shall be commenced March 1st 2003 to the End of Feb 2005 and
also if there is any no conflict between both parties regarding lease term, then
lease shall extend 1 year automatically.

         If Lessee does not want to extend to rent for Land and Building, Lessee

inform to Lesser before 6 month from the lease final termination date.


In the case where any of the parties hereto breaches this Agreement, the
non-defaulting party shall notify the defaulting party to remedy the breach
within a reasonable period. If the defaulting party does not remedy within the
period, the non-defaulting party may terminate this Agreement.


6.1      Any matters not specifically stipulated herein shall be determined in
         accordance with the general commercial practices and relevant laws and

6.2      The court having jurisdiction over the place where the principal office
         of Lessee is located shall be the competent court for matters related
         to this Agreement.

                                  February 2003

Tenee : Dong Myung Seo(******-*******)
        Address : 1337-160, GreenTown, Jung2-Dong, WonMi-Gu,BuCheon-Si,
Gyunggi-Do, Korea

Tenant : Liquidmetal Korea Ltd.
         President Sung Taek Hong


                             TRANSLATION CERTIFICATE

The undersigned hereby certifies that the foregoing is a fair and accurate
English translation of the original Agreement for Rent, which is in the Korean

By:    /s/ YM Lee
       YM Lee, Chief Financial Officer of
       Liquidmetal Korea Co., Ltd.