LEASE AGREEMENT THIS LEASE AGREEMENT (the "Agreement") is made effective and entered into at Stillwater, Oklahoma on ____/____/_______, by and between D. S. Z. Properties, L.L.C. (the "Landlord") __________________________________________________________________________________________ (Individually and collectively referred to as the Tenant). and W I T N E S S E T H: WHEREAS, the Landlord desires to lease the Leased Premises to the Tenant and the Tenant desires to lease the Leased Premises from Landlord, all in accordance with the terms and provisions of this Agreement. NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Leased Premises. Subject to the terms and conditions of this Agreement and in consideration of the rents, covenants and agreements contained herein, together with the representation made in the application filed by the Tenant, Landlord hereby rents to the Tenant and the Tenant agrees to lease from the Landlord, for residential purposes only, the premises situated in Payne County, Oklahoma and located at: ______________________________________ _____________________________________________ (the "Leased Premises"), together with the following furnishings and appliances: refrigerator and stove, dishwasher, washer & dryer subject to the terms and conditions of this Agreement. Landlord has no knowledge of flooding on the Leased Premises within the last 5 years. 2. Term. The term of this Agreement will be for a period of _12__ months beginning on the __1st__ day of _______, _______ and ending on the 31st day of ___________, _______ (the "Lease Term"), unless renewed or extended pursuant to the terms and conditions of this Agreement. 3. Rent. During the Lease Term, the Tenant agrees to pay to the Landlord as rent (the "Rent") for the Leased Premises _$_1250______ per month, plus additional rent of $100 for each horse housed above 3 on Leased Premises, subject to Section 15 of this Agreement. The first month’s rent is due upon the signing of this Agreement, with subsequent rent being due on the first day of each month following, without prior notice, demand, setoff, counterclaim, abatement, deduction, defense or deferment and Tenant will have no right to reduce, abate or defer the rent payable hereunder for any reason whatsoever. Payment shall be made to the person or entity, and at the address the Landlord shall designate in writing. Rent is to be paid in cash, personal check, money order, cashier’s check and/or certified check, or, at the option of the Landlord, in any other fashion. Rent shall not be considered paid until such time as it is actually received by Landlord. Tenant placing rent payment in the mail is not sufficient for rent to be considered paid. Rent shall be made payable to D.S. & Z. Properties, L.L.C and mailed or delivered to the following address: P.O. Box 164, Stillwater, OK 74076 Each Tenant that is a party to this Agreement shall be individually and collectively responsible for payment of the total rent due. Landlord’s notice to any Tenant of an unfulfilled obligation shall be deemed as proper notice to all parties to this Agreement. In each instance that a check offered by Tenant to Landlord for any amount due under this Agreement or in payment of rent is returned for any reason, a service charge of $25.00 will be assessed, and any future payments must be made by cash, money order, cashier’s check and/or certified check. If Tenant fails to pay the rent in full before the tenth day of the month, Tenant will be assessed a late charge of $25.00. Landlord reserves and in no way waives the right to insist on payment of the rent in full on the date it is due. All payments made after the due date shall be considered a breach of this Agreement and Landlord reserves all rights to take any and all actions afforded by law. In the event of a rent increase, Tenant shall be notified pursuant to applicable state laws and/or statutes. 4. Examination and Acceptance. Tenant acknowledges that Tenant has examined the Leased Premises and acceptance of this Agreement is conclusive evidence that Leased Premises are in good and satisfactory order and repair unless otherwise specified herein. Tenant agrees that no representations as to the condition of the Leased Premises have been made and that no agreement has been made to redecorate, repair or improve the Leased Premises unless set forth in writing. Landlord will deliver the Leased Premises and all common areas in a habitable condition, pursuant to applicable State law. Tenant takes Leased Premises in its AS-IS condition. Tenant agrees not to damage the Leased Premises through any act or omission, and to be responsible for any damages sustained through acts or omissions of Tenant, Tenant’s family, invitees, licensees and/or guests. If such damages are incurred, Tenant is required to pay for any resulting repairs upon notice from Landlord, with consequences for nonpayment identical to nonpayment of rent or other charges described herein. 5. Use and Occupancy. It is expressly understood and agreed that during the entire term of this Agreement Leased Premises are to be used only as a private residence for Tenant(s) listed as parties of this Agreement and the following minor children whose names and ages appear below: 1.__________________________________________ 2.__________________________________________ 3. __________________________________________ The Leased Premises will not sit vacant or will not be occupied or used for any other purpose without first obtaining the written consent of the Landlord. The Tenant will promptly comply with all laws, orders and regulations affecting the use of the Leased Premises and the cleanliness, safety, occupation and use of same. Tenant, guests and invitees of either Tenant or guests shall not use Leased Premises for any unlawful purpose and shall comply fully with all applicable federal, state and local laws and ordinances, including laws prohibiting the use, possession or sale of illegal substances. Nor shall Tenant, guests or invitees of either Tenant or guests use the premises in a manner offensive to others; create a nuisance by annoying, disturbing, inconveniencing or interfering with the quiet enjoyment of any other tenant or nearby resident. Tenant agrees to immediately inform Landlord and the appropriate authorities upon obtaining actual knowledge of any illegal on or upon the Leased Premises. Landlord agrees that provided Tenant has kept and performed the covenants contained in this Agreement, on the part of Tenant, Tenant shall at all times during the existence of this Agreement, renewals or extensions peaceably and quietly, have, hold and enjoy the Leased Premises, without suit, trouble or hindrance from Landlord, or any person claiming under Landlord. 6. Security Deposit. Upon execution of this lease, Tenant will deposit with Landlord the sum of $ 1250_____, which is to be held as collateral security and applied on any rent or any other charge that may remain due and owing at the expiration of this Agreement, any extension thereof or holding over period or applied on any damages to the premises caused by the Tenant, his family, invitees, employees, trades people, or other expenses suffered by Landlord as a result of a breach of any covenant of the Lease. Landlord will deposit Tenant's security deposit, which shall be maintained in the State of Oklahoma with a federally insured financial institution. Tenant may not utilize the security deposit as rent nor shall Tenant deduct same from the last month's rent nor require the Landlord to indemnify itself from said sum of money or any part thereof with respect to any particular violation or default of Tenant. In the event that any part of the said security deposit shall have been utilized by Landlord in accordance with the terms hereof or applicable law, the Tenant shall, upon the delivery notice of same, immediately deposit with the Landlord the amount so applied by Landlord so that the Landlord shall have the full deposit on hand at all times during the term of this lease and any renewal thereof or holding over. In the event of the sale of the property upon which this premises is situated or the transfer or assignment by the Landlord of this Lease, the Landlord shall have the right to transfer said security deposit to the transferee, notify Tenant in writing of such transfer and of the transferee's name and address, and Landlord shall be considered released from all liability for the return of the security 2 deposit, and Tenant shall look solely to the new Landlord for the return of his security deposit. It is agreed that the foregoing shall apply to every transfer or assignment made on the security deposit to a new Landlord. Landlord is not obligated to return Tenant’s security deposit or give Tenant a written description of damages and charges until Tenant gives Landlord a written demand for the return of Tenant’s security deposit and Tenant’s forwarding address for the purpose of refunding the security deposit. Once request is submitted Landlord has 30 days from the last day of the lease to process the refund. If Tenant does not make a written demand for said security deposit within six (6) months after termination of the tenancy, the security deposit reverts to Landlord, and the interest of Tenant in the security deposit terminates at that time. 7. Application for Lease: Tenant acknowledges that the statements and representations made in the signed application for said premises are true, that they are deemed a part of this Agreement, and any false statement shall constitute a breach of this Agreement. 8. Vehicle Parking: No automobiles, truck, motorcycle, trailers or other such vehicles shall be parked on the Leased Property without current license plates and all vehicles must be in operating condition. Such vehicles may be parked in driveways or other areas designated by Landlord. Street parking may be utilized if allowed by city and state ordinance. Horse trailers must be parked in designated areas. 9. Possession at Commencement of Term: Tenant shall not be entitled to possession of the premises designated for lease until the security deposit and first month's rent (or prorated portion thereof), less any applicable promotional discount, is paid in full and the premises designated for lease is vacated by the prior tenant. If Landlord is unable to deliver possession of the premises to Tenant on or before the commencement of the term of this Lease due to another person occupying the premises, Tenant's rights of possession hereunder shall be postponed until said premises are vacated by such other person, and rent due hereunder shall be abated at the rate of one-thirtieth (1/30) of a monthly installment for each day that possession is postponed or Tenant may, at Tenant's sole discretion, terminate this Lease by giving Landlord a written notice of such termination, whereupon Landlord shall return all prepaid rent and deposit to Tenant. Tenant expressly agrees that Landlord shall not be liable for damages to Tenant in the event Tenant, for any reason whatsoever, is unable to enter and occupy the premises. 10. Insurance. Landlord shall not obtain nor carry insurance that covers any of Tenant’s belongings or livestock. Landlord highly recommends that Tenant independently purchase: (a) insurance against loss or damage by all risks commonly included in extended coverage policies written in Oklahoma; (b) insurance against loss or damage to the Tenant's property located on the Leased Premises; and (c) insurance covering damages and/or injuries caused by livestock owned or housed on Leased Premises by Tenant. Landlord shall not be liable to Tenant, Tenant’s family, invitees, licensees, and/or guests for damages not caused by Landlord or Landlord’s agents. Landlord will not compensate Tenant or anyone else for damages caused by any other source whatsoever, or by Acts of God. 11. Utilities: Tenant will be responsible and pay for the following utilities, including all required deposits (check those that apply): _na__ Gas __X__ Water _X___ Electric _____ Refuse Collection __X__ Telephone _X___Cable TV Landlord will be responsible and pay for the following utilities, including all required deposits (check those that apply): _____ Gas _____ Water _____ Electric _X___ Refuse Collection _____ Telephone _____Cable TV Tenant shall be responsible for contacting and arranging for any utility service not provided by Landlord, and for any utilities not listed above. Tenant shall be responsible for having same utilities disconnected on the day Tenant delivers the Leased Premises 3 back to Landlord upon termination or expiration of this Agreement. 12. Repair and Remodeling. The Tenant accepts the Leased Premises in its present condition waives any defects in the Leased Premises and acknowledges the Leased Premises are satisfactory and suitable for the purposes for which same are leased. The Tenant agrees to take good care of and maintain the Leased Premises in good condition. The Tenant agrees that no remodeling, installations, lock or key changes, or other changes will be made to the Leased Premises at any time without the prior written consent of the Landlord. This includes and is not limited to changing or adding paint, wall paper, antennae, or satellite dishes, driving nails or other devises into the walls or woodwork, (a reasonable number of picture hangars excepted). 13. Duties and Responsibilities. Landlord shall: 1. Except in the case of a single-family residence, keep all common areas of the building, grounds, facilities and appurtenances in a clean, safe and sanitary condition; 2. Make all repairs and do whatever is necessary to put and keep Tenant's dwelling unit and premises in a fit and habitable condition; 3. Maintain in good and safe working order and condition all electrical, plumbing, sanitary, sewer , heating, ventilating, air-conditioning and other facilities and appliances, including elevators, supplied or required to be supplied by Landlord; 4. Except in the case of one- or two-family residences or where provided by a governmental entity, provide and maintain appropriate receptacles and conveniences for the removal of ashes, garbage, rubbish and other waste incidental to the occupancy of the dwelling unit and arrange for the frequent removal of such wastes; and 5. Except in the case of a single-family residence or where the service is supplied by direct and independently metered utility connections to the dwelling unit, supply running water and reasonable amounts of hot water at all times and reasonable heat. 6. Shall be responsible for mowing, edging and maintaining yard in a reasonably manicured manner. But Landlord shall have no duty to maintain any of the above if the noncompliance is the fault of the Tenant. Tenant shall: 1. Keep that part of the premises which Tenant occupies and uses as safe, clean and sanitary as the condition of the premises permits; 2. Dispose from Tenant's dwelling unit all ashes, garbage, rubbish and other waste in a safe, clean and sanitary manner, 3. Keep all plumbing fixtures in the dwelling unit or used by Tenant as clean and sanitary as their condition permits; 4. Use in a safe and nondestructive manner all electrical, plumbing, sanitary, heating, ventilating, airconditioning and other facilities and appliances including elevators in the premises; 4 5. Not deliberately or negligently destroy, deface, damage, impair or remove any part of the premises or permit any person, animal or pet to do so; 6. Not engage in conduct or allow any person or animal or pet, on the premises with the express or implied permission or consent of Tenant, to engage in conduct that will disturb the quiet and peaceful enjoyment of the premises by other tenants; 7. Comply with any covenants, rules, regulations or ordinance issued or promulgated by Landlord or any rental authority in accordance with applicable Oklahoma law; and 8. Not engage in criminal activity that threatens the health, safely right of peaceful enjoyment of the premises by other tenants or is a danger to the premises, and not engage in any drug-related criminal activity on or near the premises either personally or by any member of Tenant's household or any guest or other person under Tenant's control. 9. Notify Landlord in advance if Tenant will be away from Leased Premises for seven (7) or more consecutive days. During such absence, Landlord may enter the premises at times reasonable necessary to maintain the property and inspect for needed repairs. Tenant agrees that any violation of these provisions shall be considered a breach of this Lease. 14. Disclaimer of Security Warranties: Landlord, Landlord's agents or employees make no warranties, guaranties or representations regarding the security of the Premises, common areas, or the apartment community, and any such warranties and representations, whether expressed or implied, are hereby disclaimed. Tenant hereby agrees and acknowledges that Tenant and occupant(s) shall have the exclusive responsibility of protecting the Premises, Tenant(s), occupant(s) and Tenant's guests from crime, fire, and other danger. Landlord shall not provide and shall have no duty to provide any security devices to Tenant or the apartment community with the exception of those required by applicable law, Tenant shall look solely to the Public Police Force and other forms of Public Safety for protection. Tenant agrees and acknowledges that protection against criminal action is not within the power of Landlord, Landlord's agents or employees, and though Landlord, from time to time, may provide crime deterrent services, those services cannot be relied upon by Tenant and shall not constitute a waiver or in any manner modify, the above agreement Upon Tenant's reasonable request, Landlord shall consider permitting Tenant to install fire safety and/or crime deterrent devices, provided such devices do not damage the Premises, create danger, and Tenant provides Landlord with duplicate keys and alarm codes enabling Landlord to access Premises. 15. Pets. No pet, animal, bird, reptile or other pet will be kept on the Leased Premises without written permission from the Landlord. If written permission is granted, the Tenant agrees to pay the cost of having the Leased Premises de-fleaed and de-ticked by a professional exterminator at the termination of Tenant’s occupancy, or before at the request of the Landlord. Tenant expressly agrees and understands that Landlord may require an additional deposit if permission is granted. The housing of horses shall be allowed with the express written permission of the Landlord and under the following terms and conditions (Tenant shall initial next to each item): 15.1 _____ Description of Horses. Only the horses listed on the attached page, titled Description of Horse(s) shall be allowed to be permanently or temporarily on the Leased Premises. 15.2 _____ Tenant shall provide adequate feed for normal and reasonable care required to maintain the health and well-being of the horse. 15.3 _____ Tenant shall be solely responsible for proper exercise of the horse. 15.4 _____ Tenant may store certain tack and equipment in the loafing shed. Landlord shall not be responsible for 5 the theft, loss, damage or disappearance of any tack or equipment or other property stored on the Leased Premises or in the loafing shed. 15.5 _____ Tenant is responsible for maintaining reasonable care of horse’s feet and will maintain a consistent schedule of shoeing and or trimming. Tenant is responsible for maintaining a reasonable de-worming program. 15.6 _____ Tenant agrees to have horse immunized annually for Eastern/Western Encephalitis, rabies, tetanus and rhinopneumonitis, and twice annually (spring and fall) for West Nile, and influenza. Owners shall have horse tested for Coggins infection and all other diseases or infections required under the Oklahoma Health Certificate. Owner agrees to provide evidence to Landlord of current immunizations, as detailed in this section along with an Oklahoma Health Certificate. Immunizations must be current prior to horse being housed on Leased Premises. 15.7 _____ Tenant agrees to have horse monitored or checked at least once daily. Should Landlord notice that horse is ill or not properly maintained, Landlord will attempt to contact Tenant to address issue. However, if Landlord is unable to contact Tenant or if the well-being of the horse requires immediate attention, Landlord may take necessary action at the expense and liability of Tenant. 15.8 _____ During the time that the horse is kept or housed at the Leased Premises, Landlord shall not be liable for any sickness, disease, astray, theft or death or injury which may be suffered by the horse or any other cause of action whatsoever, arising out of the horse being located on the Leased Premises. This includes, but is not limited to, any personal injury or disability the horse may cause or receive while on the Leased Premises. Tenant fully understands that Landlord does not carry any insurance on any horse for any purposes, and all risks and liability connected with horse being on Leased Premises are to be borne by the Tenant. 15.9 _____ Tenant agrees to hold Landlord harmless for any claim resulting from damage or injury caused by horse to anyone and agrees to pay any expenses, including attorney fees incurred by Landlord in defense of such claims. 15.10 _____ Tenant acknowledges there are inherent risks associated with equine activities such as described below and hereby assumes all risks associated with participating in such activities. The inherent risks include, but are not limited to the propensity of equines to behave in ways such as running, bucking, kicking, shying, stumbling, rearing, falling or stepping on, that may result in injury, harm or death to persons on or around them; the unpredictability of equine’s reaction to such things as sounds, sudden movement and unfamiliar objects, persons or other animals; certain hazards such as surface and subsurface conditions; collisions with other animals; the limited availability of emergency medical care; and the potential of a participant to act in a negligent manner that may contribute to injury to the participant or others, such as failing to maintain control over the animal or not acting within such participant’s ability. Under Oklahoma law, an equine activity sponsor or equine professional is not liable for any injury or the death of a participant in equine activities resulting from the inherent risks of equine activities, pursuant to Oklahoma Livestock Activities Liability Limitation Act, Title 76 of the Oklahoma Statutes Annotated. 15.11 _____ Tenant warrants that he/she owns or leases the horse and that there are no liens against the horse, express or by law. 15.12 _____ Tenant acknowledges that Tenant has a duty to immediately report to Landlord any disrepair of the paddock or corral area; or damage or dangerous situation that may result in escape or injury to a horse or person. 15.13 _____ Tenant acknowledges that Landlord has the right to enter any portion of the Leased Premises, including paddock or corral area for maintenance, repairs, mowing, spraying or other reasons. When possible, Landlord will give Tenant advanced notice of need to enter Leased Premises. 15.14 _____ Tenant acknowledges that if Tenant’s horse has a tendency to ride the fence, Landlord may require Tenant to install hot wires or take other reasonable action to eliminate such actions. 15.15 _____ Tenant may not house horses on the Leased Premises that exhibit hostility or aggressive behavior. If Tenant observes or is made aware of hostile or aggressive behavior in any horses housed on the Leased Premises on any of the adjacent premises, Tenant shall immediately report such behavior to Landlord. 15.16 _____ From time to time, Landlord may, but is not obligated to, secure access to certain areas for Tenant to ride or exercise horse. Tenant acknowledges that such areas may have inherent and or hidden dangers on such premises. Tenant releases Landlord and owner of such property from any and all liability, including, but not limited to persons and horses that may arise and assumes all risks related to entering upon or into such areas or properties. 6 15.17 _____ Tenant indemnifies Landlord from any and all liability that may arise from Tenant allowing guests, relatives or others to enter upon Leased Premises and other available areas to care for, ride or interact with horse(s) in any manner. 15.18 _____ No stallions shall be kept or housed upon Leased Premises at any time. 16. Subordination: Tenant agrees to accept the premises subject to and subordinate to any existing or future mortgage or other lien, and Landlord reserves the right to subject premises to same. Tenant agrees to and hereby irrevocably grants Landlord power of attorney for Tenant for the sole purpose of executing and delivering in the name of the Tenant any documents related to the Landlord's right to subject the premises to a mortgage or other lien. 17. Default; Remedies. The following events will be deemed to be events of default by the Tenant under this Agreement: (a) failure to pay rent or other sums payable by the Tenant hereunder when such sums become due; (b) failure to comply with any term of this Agreement to be observed by the Tenant; (c) abandonment of any portion of the Leased Premises; (d) the filing by or against the Tenant of any proceeding under the Bankruptcy Code or any similar law; (e) the adjudication of the Tenant as bankrupt or insolvent in proceedings filed under the Bankruptcy Code or any similar law; (f) assignment of sublease without prior written authorization or (g) violation of any lawful rule, regulation or ordinance issued by a government entity or the Landlord. On the occurrence of any event of default, the Tenant, will have the opportunity, to the reasonable satisfaction of the Landlord, cure such default within ten (10) days after receipt of notice of default. Upon such cure, the Landlord and the Tenant will be restored to their respective rights and obligations under this Agreement as if no other event of default had occurred. On the failure of the Tenant to cure a default within the time provided, the Landlord will have the option to do any one or more of the following without any further notice or demand, in addition to and not in limitation of any other remedy permitted by law or by this Agreement. 17.1. Termination. The Landlord may terminate this Agreement, in which event the Tenant will immediately surrender the Leased Premises to the Landlord, but if the Tenant fails to do so, the Landlord may, to the maximum extent permitted by law, without notice and without prejudice to any other remedy the Landlord might have, enter and take possession of the Leased Premises and remove the Tenant and the Tenant's property therefrom. 17.2. Reletting. The Landlord may enter and take possession of the Leased Premises as the agent of the Tenant without terminating this Agreement and the Landlord may relet the Leased Premises as the agent of the Tenant and receive the rent therefor, in which event the Tenant will pay to the Landlord, on demand, any deficiency that might arise by reason of such reletting; provided, however the Landlord will have no duty to relet the Leased Premises and the failure of the Landlord to relet the same will not release or affect the Tenant's liability for rent or for damages. 17.3. Option to Perform. The Landlord may perform or cause to be performed the obligations of the Tenant under this Agreement and may enter the Leased Premises to accomplish such purpose. The Tenant agrees to reimburse the Landlord on demand for any expense which the Landlord might incur in effecting compliance with the terms of this Agreement on behalf of the Tenant. 17.4. Acceleration. The Landlord may declare the entire amount of the rent to become payable during the remainder of the Lease Term to be due immediately, in which event the Tenant agrees to pay the same to the Landlord on demand. The acceleration and acceptance by the Landlord of the payment of such rent will not constitute a waiver of any default then existing or thereafter occurring hereunder. 17.5 Forcible Entry and Detainer. If there is a noncompliance by the Tenant with this Agreement or any of the provisions of Tenant’s Duties and Responsibilities in Section 7, which noncompliance causes or threatens to cause imminent and irremediable harm to the premises or to any person and which noncompliance is not remedied by Tenant as promptly as conditions require after Tenant has notice of it, Landlord may terminate this Lease by immediately filing a forcible entry and detainer action. 7 The remedies and rights contained in and conveyed by this Agreement are cumulative, and are not exclusive of other rights, remedies and benefits allowed by law. No action by the Landlord during the Lease Term will be deemed an acceptance by the Landlord of an attempted surrender of the Leased Premises. No re-entry or taking possession of the Leased Premises by the Landlord will be construed as an election by the Landlord to terminate this Agreement, unless a written notice of termination is signed by the Landlord. Notwithstanding any such reletting, re-entry or taking possession, the Landlord may at any time thereafter elect to terminate this Agreement for a previous default. The acceptance by the Landlord or payment by the Tenant of rent following the occurrence of an event of default will not be construed as the waiver of such event of default. No waiver of any event of default by the Landlord will be deemed to constitute a waiver of any other or future event of default hereunder. Forbearance by the Landlord to enforce any one or more of the remedies granted to the Landlord in this Agreement are cumulative of every other right or remedy which the Landlord might otherwise have at law or in equity and the exercise of one or more rights or remedies will not prejudice the concurrent or subsequent exercise of other rights or remedies. The Tenant agrees to pay the reasonable attorneys' fees and other expenses incurred by the Landlord in enforcing any of the provisions of this Agreement. 18. Rights of Parties at Termination. Either Landlord or Tenant may terminate this lease at the expiration date or any extension thereof by giving thirty (30) days written notice, prior to the expiration date. In the event of the termination of this Agreement at any time before the expiration of the term hereof for the breach of any of the covenants herein contained, all structures, fixtures and improvement situated on the Leased Premises at the time of such termination will become the property of the Landlord, as liquidated damages, and no compensation therefor will be allowed or paid to the Tenant. At the expiration of this Agreement, or the earlier termination thereof, all structures and improvements on the Leased Premises will be surrendered to the Landlord in good repair and condition, the usual wear and tear excepted, free and clear of all mortgages, liens, claims and encumbrances of every kind and nature. If the Tenant continues to occupy the Leased Premises after the expiration or other termination of the Lease Term, such holding over will, unless otherwise agreed by the Landlord in writing, constitute a tenancy at will on a month to month basis, as defined by applicable Oklahoma law, at one and one-half the monthly rate in effect during the last month of the expiring term. All other terms and provisions of this Agreement shall remain in full force and effect. 19. Assignment; Subletting. Tenant will not assign this Agreement or sublet neither the Leased Premises nor any interest therein without advance written consent of the Landlord, which consent will not be unreasonably withheld. Landlord has made certain rent concessions to the Tenant and Landlord therefore reserves the right to negotiate new terms and conditions in connection with any approved assignment of this Agreement or subletting of the Leased Premises. Permission to sublease the Leased Premises or to assign this Agreement will not relieve Tenant from liability for the payment of rent or from the performance of any of the covenants of this Agreement. Subleasing Tenant must sign a Lease Agreement and agree to the terms and conditions herein. If Sublease only pertains to the housing of a horse, Subleasing Tenant shall agree to be bound by each item in Section 15 of the Agreement. 20. Liability. Tenant agrees to protect, indemnify and hold harmless the Landlord from and against all liabilities, obligations, losses, damages, claims, penalties, causes of action, judgments, demands, costs and expenses incurred by the Landlord or asserted against the interest of the Leased Premises arising by reason of: (a) the Tenant's use of the Leased Premises; (b) any injury to or death of any person or any damage to property located in or on the Leased Premises; (c) any condition or state of repair of all or any part of the Leased Premises of which Landlord has not been properly notified; (d) any negligence or willful act on the part of the Tenant or any of the Tenant's agents, relatives, employees, licensees, invitees or subtenants; and (e) any claims or liens against the leasehold estate or Landlord's interest in the Leased Premises. Tenant will promptly assume all of the burden, cost and expense of defending such action with legal counsel designated by the Landlord. The Tenant will well and truly pay any judgment or settlement which may be obtained as herein provided before any execution issues thereon. The Tenant further agrees to pay all reasonable attorneys' fees and expenses of the Landlord incurred in enforcing any of the obligations of the Tenant under this Agreement, including the collection of rent or other charges due under this Agreement. 21. Right to Enter/Loss of Use of Premises. In addition to the rights provided by law, in the event of an emergency, to make repairs or improvements or to show premises to prospective buyers or tenants or to conduct an annual inspection or to address a safety or maintenance problem or to remove any alterations, additions, fixtures, and any other objects which may be 8 affixed or erected in violation of the terms of this Agreement, Landlord and/or Landlord's agents will have the right to enter upon the Leased Premises at all reasonable hours. Except in cases of emergency, Tenant’s abandonment of the Leased Premises, court order or where it impractical to do so, Landlord shall give Tenant one (1) days notice before entering. Furthermore, Landlord retains a Lien on all personal property placed upon the premises to secure the payment of rent and any damages to the Leased Premises. In the event the Leased Premises are destroyed, or practically destroyed by fire, cyclone or other storm, explosion or earthquake, or any other unavoidable casualty, then the Landlord may, if the Landlord so elects, either rebuild for the Tenant and put the Leased Premises in good condition, and fit for occupancy within a reasonable time after such total or practically total destruction, or may give notice in writing to the Tenant terminating this Agreement. If the Landlord elects to repair rebuild the Leased Premises for the Tenant, it shall give the Tenant written notice of the Landlord's intention within thirty (30) days after such injury, and then proceed with reasonable speed to restore the Leased Premises; provided, however, that in the event the Landlord elects to terminate this Agreement under the above provisions, the Landlord may rebuild the Leased Premises and lease same to another tenant or tenants. The Tenant will not be obligated to pay any Rent from the time of such destruction until the Leased Premises are again fit and ready for occupancy. In the event the Leased Premises are only partially damaged, the Landlord may elect to either restore and repair the Leased Premises with all reasonable speed or terminate this Agreement. If the Landlord elected to restore and repair the Leased Premises, there will be an adjustment or abatement of Rent in the proportion that the Leased Premises are rendered unusable, and Tenant will not be entitled to any damages for such casualty or the inconvenience occasioned by necessary repairs. All proceeds of insurance policies payable for damage to the Leased Premises, or any portion thereof, will be paid to the Landlord and will not be apportioned between the Landlord and the Tenant. 22. Eminent Domain. In the event the Leased Premises or any part thereof is taken by any public authority under the power of eminent domain or under any similar governmental power, or by purchase in lieu thereof and the taking would prevent or materially interfere with the Tenant's use of the Leased Premises as reasonably determined by the Landlord, then the terms of this Agreement will cease on the part so taken from the day title is transferred to the public authority and the rent will be paid up to that date. It is understood and agreed that all condemnation awards payable for the taking of the Leased Premises or any portion thereof will be paid solely to the Landlord and will not be apportioned between the Landlord and the Tenant. All condemnation awards payable for the taking of the Leased Premises, or any portion of thereof, will be paid to the Landlord and will not be apportioned between the Landlord and the Tenant. The Tenant will immediately notify the Landlord in writing of any notices received concerning the Leased Premises and furnish Landlord a copy of all such notices. The rent shall be apportioned as of the termination date, and any rent paid for the period beyond that date shall be repaid to Tenant. 23. Notice. Any notice, payment, demand or communication required or permitted to be given by any provision of this Lease Agreement will be in writing and will be deemed to have been given when delivered personally to the party designated to receive such notice, or on the date following the date sent by overnight courier, or on the third (3rd) business day after the same is sent by certified mail, postage and charges prepaid, directed to the following addresses or to such other or additional addresses as any party might designate by written notice to the other party: To the Landlord: Dale Roden 5009 S. Range Road Stillwater, Ok 74074 To the Tenant: 24. Entire Agreement. This Agreement constitutes the entire agreement between the Landlord and Tenant and 9 there are no agreements, understanding, warranties or representations between the Landlord and Tenant except as set forth herein. The terms, conditions and covenants hereof cannot be altered or changed except in writing and by agreement of the parties hereto. 25. Time. Time is of the essence of this Agreement and each provisions of this Agreement. 26. Severability. If any clause or provision of this Agreement is illegal, invalid or unenforceable under any present or future law, the remainder of this Agreement will not be affected thereby. It is the intention of the parties that if any such provision is held to be illegal, invalid or unenforceable, there will be added in lieu thereof a provision as similar in terms to such provision as is possible and be legal, valid and enforceable. 27. Binding Effect. This Agreement shall be binding on the parties hereto and their respective heirs, successors and assigns. 28. Governing Law: This Agreement shall be governed and interpreted by the laws of the state of Oklahoma, irrespective of the applicable conflict of law. IN WITNESS WHEREOF, the undersigned have executed and delivered this Agreement as of the day and year first hereinabove written. “Tenant” "Landlord" _________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ Tenant Contact Info (contact info for each tenant must be provided below) Name: __________________________________ E-mail: _______________________________ Phone: _________________________________ Name: E-mail: Phone: Name: E-mail: Phone: _________________________________ _______________________________ ________________________________ _________________________________ _______________________________ ________________________________ 10
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