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LEASE+AGREEMENT FOR,;COMMFRCIALtSPACE t <br />THIS AGREEMENT is made tMs�'da oto` ` 2007 'b and between THI +CI fY'OF ,`` ` n " <br />Y Yfi <br />r <br />Cfenant'�TIESUIL£Lh„VIRGINIA (herein Landlord,)and1MINORF�IM[LrY°HOTELS L`L=CT(herem =w <br />For m conside-rahowof the mutual covenants°and agreements: eremafter made, t} a names) eretoragree# i <br />as'follows <br />li` Lease of Property:; Landlord herebyfdemtses,to Tenant andxTcnant hereby losses fromdLandlordfi <br />premtses,wtthm ttie bmidmg-`located at 203 & 207 South First Stree t, iCharlottesvdle,,,Utrgtma such,premises , F <br />e onststirig of approxnnately 2}829 syquare feet ofdnet usable ground floor Space (hereaftei'referredfo,as Leased }° z <br />Ptemises') together with the nght to u"se ofcall stdewalks,tlallways;+stairs elevators,+enttanceways =rest rooms <br />driveways and stxy 6f6street:parking spaces an&0 1o.herareas designed fortcommon,use m <br />(A)+Chi Landlord makes no representations whatsoever as to the suitabthty of the Leased' Premises°for s <br />the Tenant s mtendedipurposes and [nano event shalhtne Landlordibeiliable forianytdefect ni sue }ifproperty�or � <br />. <br />toraiiy',hmitatton("s) on itsause Tenant hereby, accepts+the-1 eased Pretenses mutts ` As Is' .condrttonso * r F r <br />2E Term Thts leaseahall commence+on January l °'2008 ("Commencement Date"), and shall continue m <br />effecFil <br />t,tFiereafterA rough 2009 ,unless terminated as;'.provtded wtthtn this agreement <br />Both Landlord and tenant shall have the nght;to terminate thisAgreement,at'any ttmd;provtdedgthat thesparty, <br />terminating theA Lease provide theother party with sixty (60) days�wntten'nohcenpnor �o thetdate of termination <br />to the Lease a ~� <br />3. Unfit otPremises-;Tenantsha'I take full responsibility for;any Upfitofthe"{Leased Premt`ses (the , <br />scope of which "shall bean Tenants sole,discretion) including any additional remodehng''ceihng tiles carpet <br />and interior painting required by Tenant Tenant>shall�have`,the nghtao install wrong and cablmganecessary to- <br />obtain ihtemetser`ice at the Premises; and shall^have no-obhgation to remove+any such"wrong orgcab mg from <br />the picra­isc-sz at the end of the Term ,6therwise,'the Tenantshall'have:no right or authority to make any <br />improvements or:alterations to,the Leased,Premises without-tlie'advance wntten approva(o&the following <br /><_ <br />employee of the:Landlord.. Lance Stewart,,F.aciIities-Maintenance"Manager ,wfiose approval shall not <br />unreasonably: be -,withheld: <br />4.4ent . Tenant<shallpay to•the landlord as=rent=the sumofS45.000:for the lease`ternr,-payable.in: <br />- <br />momhly`tnstallments of 2-500 orrthefirst day of each month duringihe term of this lease. ,First month's rent is: <br />payable on or,before7anuary P, 2009' 'Payments.shall`be delivered to Landlord at ihe�fo_llowing.address: <br />City of Charlottesville <br />TA Box 011 <br />Charlottesville; VA 22902 <br />Attn: Peggy'Sprotise; Finance Department <br />Phone # 434=9.70-3370 <br />5. Security Deposit. Tenant shall pay to Landlord at time of lease signings security deposit equal to one <br />month's rent, which sum shall be held by Landlord and:shall be returned to.Tenant without• interest, upon the <br />expiration of this lease upon fulfillment by'renant of alFthe material terns and obligations contained herein. <br />• 6. Renewal Option. Provided.Tenant is not in default in the performance.of:any of the material <br />covenants and conditions of this lease, and provided further that extending -the -Tenant's occupancy would not <br />Page 1 of 6 J <br />