Flooring Service Lease

FLOORING SERVICE LEASE

Parties

Recitals

WHEREAS, Lessor is the legal owner of the premises and/or flooring equipment described in this Lease and has authority to lease such premises and/or equipment; and

WHEREAS, Lessee operates a flooring services business and desires to lease from Lessor the right to occupy premises and/or lease equipment for the purpose of performing flooring installation, repair and maintenance as set forth herein; and

WHEREAS, the parties desire to set forth the terms and conditions under which Lessor will lease and Lessee will use the premises and/or equipment for flooring services commencing on .

Scope of Work

Lessee shall perform flooring services including, but not limited to, removal, subfloor preparation, installation, finishing, and maintenance of flooring materials at the leased premises and/or using leased equipment. The specific scope and standards of performance are described below and shall form part of this Lease.

Payment Terms

Lessee agrees to pay Lessor the consideration set forth below for use of the premises and/or equipment and for performance of services. All payments shall be made in United States dollars unless otherwise agreed in writing.

Late Payment: Any amount not paid by the due date shall incur a late fee equal to the lesser of 1.5% per month on the outstanding balance or the maximum rate permitted by applicable law. Lessee shall also be responsible for reasonable costs of collection, including attorneys' fees and court costs.

Term and Termination

This Lease shall commence on and shall continue until , unless earlier terminated in accordance with this section.

Either party may terminate this Lease for material breach by the other party if the breaching party fails to cure such breach within the notice period specified above after receipt of written notice. Lessor may terminate immediately for Lessee's failure to maintain required insurance, to pay amounts when due, or for unlawful use of premises or equipment.

Upon termination, Lessee shall promptly return leased equipment in good working condition, ordinary wear and tear excepted, and shall vacate the premises in a broom-clean condition. Any removal, repair, or restoration costs shall be the responsibility of Lessee.

Confidentiality

Each party acknowledges that during the term of this Lease it may receive or have access to Confidential Information of the other party. "Confidential Information" means all non-public information disclosed in connection with this Lease, including pricing, techniques, client lists, bid and estimate information, and business processes. Each party shall: (a) use Confidential Information solely to perform its obligations under this Lease; (b) protect Confidential Information with at least the same degree of care as it uses to protect its own confidential information, but not less than reasonable care; and (c) not disclose Confidential Information to third parties except to employees, agents or subcontractors with a need to know who are bound by confidentiality obligations no less protective than those herein.

Confidentiality obligations shall survive termination of this Lease for a period of three (3) years, except that trade secrets shall be protected for as long as they qualify as trade secrets under applicable law.

Insurance and Indemnity

Lessee shall maintain commercial general liability insurance and, where applicable, workers' compensation and automobile liability insurance with limits customary for the industry and sufficient to cover claims arising from Lessee's operations under this Lease. Lessee shall name Lessor as an additional insured with respect to liability arising from Lessee's operations. Lessee shall indemnify, defend and hold Lessor harmless from and against any and all claims, liabilities, losses, damages, costs and expenses (including reasonable attorneys' fees) arising out of Lessee's performance under this Lease, except to the extent caused by Lessor's gross negligence or willful misconduct.

Taxes, Utilities and Maintenance

Unless otherwise agreed in writing, Lessee shall be responsible for all taxes, assessments, utilities, and costs associated with its occupancy and operation of the premises and for routine maintenance of leased equipment. Major structural repairs shall be the responsibility of Lessor unless caused by Lessee's negligence.

Governing Law

This Lease shall be governed by and construed in accordance with the laws of the state identified by the parties below without regard to principles of conflicts of law. The parties submit to the exclusive jurisdiction of the courts located in that state for any dispute arising under or related to this Lease.

Entire Agreement; Amendments

This Lease, including all exhibits and attachments, if any, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings and representations, whether written or oral. Any amendment or modification of this Lease must be in writing and signed by both parties.

Severability; Waiver

If any provision of this Lease is held invalid or unenforceable, the remaining provisions shall remain in full force and effect. No failure or delay by either party in exercising any right under this Lease shall operate as a waiver of that right.

Notices

All notices required or permitted under this Lease shall be in writing and shall be deemed given when delivered personally, sent by certified mail, return receipt requested, or by nationally recognized overnight courier, to the addresses set forth in this Lease or to such other address as either party may designate by notice to the other.

Acknowledgment

The parties acknowledge that they have read and understand this Lease, that they have the authority to enter into this Lease, and that this Lease is binding upon and inures to the benefit of the parties and their respective successors and permitted assigns.

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