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Commercial Equipment Lease Agreement

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Title:

Commercial Equipment Lease Agreement

Entities:

Date:

2003

Size:

Preview shows 3KB of 29KB total

Price:

$38

ID:

#117389

► Leasing ► Equipment ► Commercial Equipment Lease Agreements

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                                                      Commencement Date 08-01-02

                                                             Lease Term 07-31-03



               This lease is non-cancelable for the term indicated

                      Commercial Equipment Lease Agreement



     THIS  COMMERICAL  EQUIPMENT  LEASE AGREEMNT  ("Equipment  Lease") is by and

between Fair  Holdings,  Inc., an Ohio  corporation  (hereinafter  "Lessor") and

Obsidian Enterprises, Inc., a Delaware corporation (hereinafter "Lessee").



                                      TERMS



     1. Lease.  Lessor hereby agrees to lease to Lessee,  a Lessee hereby agrees

to lease from Lessor,  the personal property  described on the attached Schedule

"A"  upon  the  terms  and  conditions  set  forth  herein  and in  any  related

Schedule(s)  (such  property  together  with  all  replacements,   repairs,  and

additions  incorporated  therein or affixed  thereto being referred to herein as

the  "Equipment"),  which  schedules  are  incorporated  and made part hereof by

reference herein. Throughout this document the term Equipment Lease shall herein

refer to this Equipment Lease and any related Schedule(s).



     2. Term.  The term of this  Equipment  Lease with respect to the  Equipment

(the Term) shall commence on the date that is set forth above (the "Commencement

Date") and shall  terminate  on the last day of the Lease  Term set forth  above

(the "Lease Term"),  unless earlier terminated in accordance with the provisions

of this Equipment Lease. This Equipment Lease shall automatically be renewed for

another one (1) year term unless Lessee notifies Lessor 60 days prior to the end

of the term of its  intention to terminate  this  Equipment  Lease at the end of

such term.



     3. Rent.  The rent for the  Equipment  for the  entire  Lease Term shall be

$366.84  per month (the  "Rent"),  with the first such  monthly  payment due and

payable on the Commencement  Date. All subsequent monthly Rent payments shall be

due in  advance  on the same  date of each  month,  or the  first  business  day

thereafter is such payment  becomes due on a non-business  day, at a location to

be  designated  in writing from time to time by Lessor.  Payments due  hereunder

shall be subject to the provisions of paragraph 10.



     4.  Additional  Payment.  Lessee shall pay, in addition to Rent,  any other

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