Warehouse and Storage Agreement

Warehouse and Storage Agreement

It is agreed for good and valuable consideration, the sufficiency of which is acknowledged, that (hereinafter “Warehouseman”) does hereby lease to (hereinafter “Facility User”) the building and premises known as (hereinafter the “Warehouse”) and more particularly described as , County of , State of , on the following terms and conditions:

1. Use of Warehouse.

Facility User is entitled to enter and use the Warehouse for the purpose of placing items and materials into storage and retrieving said items during the Term of this Agreement as set forth in Article 2 hereafter. Facility User is not to store or to permit the storage of dangerous, radioactive, leaking items or materials in the Warehouse nor to permit any items or materials to be stored in a manner which may cause damage to the Warehouse.

2. Term.

The term of this Agreement shall extend from and after the date it is signed by both parties for a period of (weeks/months/year) and shall end at o’clock on .

3. Rent.

Facility User shall pay to Warehouseman the sum of $ by check, cash or money order in U.S. funds as directed by Warehouseman per (week, month, year), beginning on the first day of and continuing thereafter on the first day of such successive (week, month, year).

4. Right of Inspection.

Warehouseman shall have the right without prior notice to Facility User to enter the Warehouse for the purpose of inspecting or repairing or improving same. If items as stored by Facility User constitute a health or environmental hazard or a danger to the physical structure of the Warehouse, Warehouseman shall have the right and authority to have such items removed and the costs of such removal shall be the responsibility of Facility User.

5. “AS IS” Condition.

Facility accepts the Warehouse in “AS IS” condition, including power and utility hookups, without further modifications or repairs to be made by Warehouseman, except as follows:

6. Utility Costs and Service Fees.

Facility User shall pay all utility costs and service fees for the Warehouse during the term of this Agreement.

7. Default by Facility User.

Facility User shall be in default upon the happening of any of the following:

A) Rent is not paid as due and in the amount due; or

B) Any of the covenants and conditions of this Agreement are not performed as agreed or when due; or

C) Hazardous conditions caused by stored materials or the methods of storage are permitted to exist at or in the Warehouse.

8. Remedies by Warehouseman.

Warehouseman shall include all those remedies for breach of contract or default by Facility User which are available under the laws of the state wherein the Warehouse is located. Further, Warehouseman shall have the specific right, power, title and authority to move, to dispose of by sale or other method, any and all stored items, materials, equipment, cargo, inventory or commodities which remain in or at the Warehouse following the sooner date of the termination of this Agreement or which remain thirty (30) days after any failure of Facility User to pay rent as agreed. Any amount realized from such disposition by Warehouseman, which is in excess of the amount or amounts owed by Facility User to Warehouseman, shall be paid over to Facility User within sixty (60) days of such disposition. In addition to the contractual rights of Warehouseman herein agreed to, Facility User also acknowledges and agrees that Warehouseman has an absolute right to a warehouseman’s lien, including reasonable attorney’s fees for the enforcement of same, to secure any payments due from Facility User under this Agreement. Facility User hereby grants to Warehouseman a security interest in any stored items, materials, equipment, cargo, inventory or commodities to the extent of the full amount owed by Facility User to Warehouseman under this Agreement. If requested by Warehouseman, Facility User shall prepare and execute a financing statement for filing as may be applicable.

9. Termination.

Either party may terminate this Agreement by giving the other party thirty (30) days prior notice of such termination.

10. Notice.

Any notice required or allowed by this Agreement shall be made by personal service, registered or restricted delivery by United States mail, national courier service with registered delivery and shall be deemed effective only upon receipt by the party to whom notice is directed. The addresses of the parties to this Agreement for notice purposes herein are as follows:

WAREHOUSEMAN:

FACILITY USER:

11. Indemnification.

Facility User agrees to defend, indemnify and hold harmless Warehouseman from any federal, state, or private party claim, lawsuit, settlement, judgment, penalty, fine or other cost, and reasonable attorneys’ fees which may result, arise or be caused from the use and occupation of the Warehouse by the Facility User.

12. Insurance.

Facility User shall maintain an insurance policy or policies which provide an aggregate amount of $ or more combined single limit per occurrence and shall maintain premises liability insurance in the amount of $ or more combined single limit per occurrence. Workers Compensation insurance shall be maintained by Facility User for its employees as is or may be required by the State of . Certificates of all such insurance policies subject to this Article and Agreement shall be provided by Facility User to Warehouseman within five (5) calendar days of the date of this Agreement.

13. Applicable Law.

This Agreement shall be subject to and construed according to the laws of the State of , except where the laws of that State may be superseded by federal environmental laws.

14. Entirety.

This Agreement contains the entire agreement between the parties regarding the subject matter and may be changed only by subsequent written instrument signed and agreed to by both parties.

WITNESS THE SIGNATURES of the parties hereto in execution of this Agreement, this the day of , A.D.