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Lease Agreement - 2025 - 665 Chapman St, Edwardsville, IL 62025.pdf

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Meyer Property Group 40A Edwardsville Professional Park • Edwardsville, IL 62025 (618) 656-1824 1. Lessor, Lessee, Term 1.1 LESSOR & LESSEE This is intended to be a legal and binding real estate contract. Lofty Holding 665 Chapman Street LLC ,hereinafter jointly and severally referred to as "LESSOR". hereinafter jointly and severally referred to as "LESSEE". 1.2 LEASE OF PREMISES/TERM In consideration of the rental below specified, and of the covenants hereinafter stipulated, the LESSOR hereby l

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Meyer Property Group
40A Edwardsville Professional Park • Edwardsville, IL 62025
(618) 656-1824

1. Lessor, Lessee, Term
1.1 LESSOR & LESSEE

This is intended to be a legal and binding real estate contract.
Lofty Holding 665 Chapman Street LLC ,hereinafter jointly and severally referred to as "LESSOR".

hereinafter jointly and severally referred to as "LESSEE".

1.2 LEASE OF PREMISES/TERM
In consideration of the rental below specified, and of the covenants hereinafter stipulated, the LESSOR hereby leases to LESSEE, and LESSEE
hereby leases from LESSOR, upon and subject to the terms and provisions hereof,

665 Chapman Street
Edwardsville, IL 62025
(hereinafter, the “premises”), to have and to hold the premises unto LESSEE for the

TERM COMMENCING: 08/01/2025 and,

TERM ENDING: 07/31/2026 .

It is expressly understood and agreed, however, that LESSOR shall not be liable to LESSEE for any failure or delay in delivery of
possession of the premises to LESSEE for any reason. LESSEE shall promptly vacate the premises at the expiration of the above stated
term hereof, and no holding over by LESSEE after such expiration shall constitute an extension of this lease; nevertheless, LESSEE shall, for
and during the period of any such holding over, strictly observe and perform all of the terms hereof and shall pay to LESSOR, in advance,
monthly rents equal to double the amount of the monthly rental installments provided in Paragraph 2 hereof. LESSEE further acknowledges
that, regardless of the expiration of the term hereof and without extension of this lease, LESSEE shall remain liable to LESSOR for the
payment of the rents provided in Paragraph 2 hereof from the commencement date until the premises shall be surrendered to LESSOR
in the same condition as upon the commencement of this lease, and that LESSEE shall be responsible for all of the costs of restoration of
the premises to such condition; LESSEE therefore expressly agrees that LESSOR or LESSOR’S AGENT, MEYER PROPERTY GROUP, may
conduct inspections of the premises at all reasonable times during the term (upon 24 hours’ advance verbal notice) in order to determine the
necessity of cleaning, repairs and other restorative efforts by LESSEE prior to the close of the term.

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By initialing below, you acknowledge and agree to the terms in Section 1.

X

X

X
2. Financials
2.1 RENT/LATE PAYMENTS & RETURNED CHECKS
The rent for the entire term of this Lease is $21,600.00 which LESSEE hereby agrees to pay to LESSOR’S AGENT, MEYER PROPERTY
GROUP, without prior demand by LESSOR, in equal

MONTHLY INSTALLMENTS: $1,800.00 . Monthly rental payments are due and shall be paid in advance on the 25th day of each month
beginning on the 25th day of July 2025 .
LATE CHARGES: Any payments, or portions thereof, not received by 5 PM on the final business day of the month will be subject to a
$10.00 per day late charge beginning on the first day of the month.
RETURNED CHECK: A charge of 25.00 shall be levied for any check returned for any reason, including electronic check payments.
Further, the surrender, abandonment or vacation of the premises by LESSEE prior to expiration of the term hereof shall not affect the liability
of LESSEE for payment of the rents herein provided. In event of any such early surrender, abandonment or vacation, LESSEE shall become
liable to LESSOR for a re letting fee of $500.00 which must accompany a written notice at least 30 days in advance of the last day of the
LESSEES occupancy, and said last day must be no later than the last day of the month. In the event the Lessee desires to assign the said lease,
and LESSOR so agrees, then a fee of $ 25.00 shall be assessed for any and each such assignment.
3. SECURITY DEPOSIT. LESSOR hereby acknowledges receipt of a deposit paid by the LESSEE in the amount of $1,750.00 to be used
and applied by LESSOR as provided in this Lease. If a lease hold fee has been paid by LESSEE, said lease hold fee shall be credited to
LESSEE’S security deposit charge. LESSEE hereby waives any requirement that the security deposit be held in an escrow account and
hereby acknowledges that the security deposit will not be held in an escrow account and will not earn interest. The security deposit,
less the reductions provided herein, shall be returned to the LESSEE within thirty days of the LESSEE’S vacation of the premises and upon
the return to LESSOR’S AGENT of the keys and any restricted use devices, less all of the costs of restoration of the premises to the condition
thereof as of the commencement of this Lease including, among other things, the following which are set forth for purposes of illustration
and not by way of limitation, to-wit:
a) The cost of any additional cleaning LESSOR shall deem necessary,
b) The cost of disposal of personal property remaining within or about the premises,
c) The cost of any repairs to the premises which LESSOR shall deem necessary including any painting and wall repair(s),
d) The cost of having the carpets professionally steam cleaned upon vacation of the premises,
e) Any unpaid rent, late fees and administrative fees provided within this lease,
f) Any applicable re-letting fee described in Paragraph 2 above.
LESSOR may return the security deposit to any person named as LESSEE herein, and need not make any return payable to all such persons.
LESSOR may retain any applicable re-letting fee from the deposit of LESSEE. Said deposit will not bear interest and cannot be used for
last installment of rent unless LESSOR consents thereto.

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